Bitcoin (Bitcoin) had its first back-to-back week of gains this year after appreciating 20% between April 9 to 15 and 10% between April 16 and 22.
The mini-rally is helping to ease the pain from the more than 50 percent loss in the first quarter that followed last year’s 1,400 % surge in 2017.
Traders say the recent gains are connected with the end of the tax selling season in the US, meaning investors are done selling crypto to pay off outstanding balances. A second reason is that "large hedge funds have entered the market with deep pockets and strong hands."
Traders say the recent gains are connected with the end of the tax selling season in the US, meaning investors are done selling crypto to pay off outstanding balances. A second reason is that "large hedge funds have entered the market with deep pockets and strong hands."