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We will be inspecting the price history and market opinions for BTC to come up with a Bitcoin price prediction for April 2020.

bitcoin logo pngBitcoin Overview

Bitcoin is the first crypto in the world according to a market cap of $113,483,920,521 and a trading price of $6,206.98. There are currently 18,283,287 BTC in circulation out of a total of 21.000.000 BTC. $46,787,802,890 worth of Bitcoins has been traded in the last 24 hours.

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Bitcoin Price Prediction: Analysis

Since the beginning of March, Bitcoin lost around 50% percent of its price in three days, and its market cap went under the $100 billion mark, prompting massive sell-offs on the market. The coin then saw a recovery of 20 percent during a 24-hour period.

In the past week, Bitcoin has rebounded from its drop to $4,800, which occurred on March 12th. The coin continued to fluctuate between $4,000 and $5,000 levels, reaching a low of $4,100 and a high of $5,800 in that week.

On March 19th, Bitcoin climbed back to $6,000 levels, closing the day at $6.191,19. The next day, BTC tried to reach the $7,000 resistance level but failed short at a high of $6.844,26. In the next two days, BTC oscillated between the upper values of $5,000 and the lower values of $6,000.

Source:fxstreet

Today, March 23, Bitcoin is trading at $6,202.42, with an increase of 2,40% in the last 24 hours. While the coin is not seeing a strong recovery, it is not doing all that bad on the weekly timeframe.

Seeing 2020 play out in a consolidation wouldn't be bad

The major support level is set in the $4k area, and so far, the coin has managed to keep itself above it in the past week. From the histogram, Bitcoin’s bearish momentum may start to slow down. The BTC/USD pair is currently amid a very long-term bearish trend. This period is one of consolidation seeing the price recovery to $7,000 in last week.

Can't even get over the 8

The first resistance level is set at $5900, while the second is at $6200, and the third at $6500. The first support level is at $5700, then the second at $5300, and the third one at $4900.

The current pivot, resistance, and support levels calculated by WalletInvestor are:

  • Resistance Level (R3): 7713.940
  • Resistance Level (R2): 7276.160
  • Resistance Level (R1): 6741.340
  • Pivot Point: 6303.560
  • Support Level (S1): 5768.740
  • Support Level (S2): 5330.960
  • Support Level (S3): 4796.140

Developments

Bitcoin-2020en.cryptonomist.ch

Currently, Bitcoin is all over the crypto news, as it severely crashed this month because of the impact of the coronavirus outbreak, which affected all other financial markets as well.

The most anticipated upgrade for the Bitcoin network will occur in May and is also known as the Bitcoin halving, in which the block reward will be cut in half. This event is expected also to affect the price of Bitcoin, but most analysts expect that this will be noticed in the long-term.

Bitcoin Price Prediction: Market Opinion for April 2020

A number of crypto forecasting sites have issued their own Bitcoin price prediction for April 2020, and to better give you a sense of the market sentiment regarding the future performance of the crypto, we have included some of them in our list below.

Longforecast

Longforecast projected that BTC will be trading at $6,740 at the start of April. The site predicted that the maximum price of the coin for this month would be around $8,335, while the minimum price will be around $4,739. The month’s average price was estimated at around $6,901. The coin is predicted to have a closing price for the month of $7,790, change for April 15.6%.

Digitalcoinprice

Digitalcoinprice‘s Bitcoin price prediction for April is once again optimistic compared to other predictions, placing the coin at $12,448.72, which signifies a growth of 114.44%.

Tradingbeasts

Tradingbeasts predicted that BTC will have a price of $5,809.363 when April starts. The maximum price for the month was estimated at around $7,254.528, while the minimum price is $4,933.079. The closing price for the month of April was estimated at $5,803.622, with a change of -2.38%.

Coinpredictor

Coinpredictor expects that Bitcoin will decrease by -22.6% in April, which would place the coin at around $7,137.53.

WalletInvestor

WalletInvestor made predictions for the first 2 days of April, along with the minimum and maximum values of each particular day.

Date Price Min Price Max Price
2020-04-01 4577.670 3375.420 5611.930
2020-04-02 4403.920 3345.610 5508.160

Gov.capital

Gov.capital estimated that Bitcoin would be trading at $5,715.032 at the start of April, with a maximum price of $6,572.2868 and a minimum price of $4,857.7772. Below are the rest of the predictions for all the days in April.

Calendar date Regular Least possible price Best possible price
2020 April
2020 April 01, Wednesday  5715.032  4857.7772  6572.2868
2020 April 02, Thursday  5930.066  5040.5561  6819.5759
2020 April 03, Friday  6168.569  5243.28365  7093.85435
2020 April 04, Saturday  6142.010  5220.7085  7063.3115
2020 April 05, Sunday  5983.344  5085.8424  6880.8456
2020 April 06, Monday  6003.451  5102.93335  6903.96865
2020 April 07, Tuesday  6163.408  5238.8968  7087.9192
2020 April 08, Wednesday  6230.076  5295.5646  7164.5874
2020 April 09, Thursday  6164.806  5240.0851  7089.5269
2020 April 10, Friday  6144.724  5223.0154  7066.4326
2020 April 11, Saturday  6197.757  5268.09345  7127.42055
2020 April 12, Sunday  6271.733  5330.97305  7212.49295
2020 April 13, Monday  6520.852  5542.7242  7498.9798
2020 April 14, Tuesday  6571.530  5585.8005  7557.2595
2020 April 15, Wednesday  6656.919  5658.38115  7655.45685
2020 April 16, Thursday  6580.482  5593.4097  7567.5543
2020 April 17, Friday  6608.259  5617.02015  7599.49785
2020 April 18, Saturday  6707.756  5701.5926  7713.9194
2020 April 19, Sunday  6714.905  5707.66925  7722.14075
2020 April 20, Monday  6840.233  5814.19805  7866.26795
2020 April 21, Tuesday  7007.639  5956.49315  8058.78485
2020 April 22, Wednesday  7047.572  5990.4362  8104.7078
2020 April 23, Thursday  7095.473  6031.15205  8159.79395
2020 April 24, Friday  7220.432  6137.3672  8303.4968
2020 April 25, Saturday  7241.038  6154.8823  8327.1937
2020 April 26, Sunday  7037.710  5982.0535  8093.3665
2020 April 27, Monday  7183.624  6106.0804  8261.1676
2020 April 28, Tuesday  7243.068  6156.6078  8329.5282
2020 April 29, Wednesday  7276.099  6184.68415  8367.51385
2020 April 30, Thursday  7233.363  6148.35855  8318.36745

BTC is expected to close the month at an average price of $7,233.363, with the least possible price of $6,148.35855 and the best possible price of $8,318.36745.

Cryptorating

Cryptorating’s Bitcoin price prediction for April is very pessimistic, expecting the coin to have a loss of -49.4%, which would bring BTC to $2,934.61.

Cryptoground

Cryptoground estimated that BTC will be changing hands in April at $9,736.8819, with a decrease of 67.70%.

Bitcoin Price Prediction: Verdict

This is the end of our Bitcoin price prediction for April 2020. We hope that the information we presented here will be of help to you in your future BTC trading operations.

Featured image: The Moscow Times

 

source: https://coindoo.com/bitcoin-price-prediction-april/

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