{"id":419173,"date":"2020-03-25T17:00:48","date_gmt":"2020-03-25T17:00:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=419173"},"modified":"2024-06-11T13:46:46","modified_gmt":"2024-06-11T13:46:46","slug":"fool-me-twice-will-bitcoin-rally-on-april-fools-day-once-again","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/fool-me-twice-will-bitcoin-rally-on-april-fools-day-once-again\/","title":{"rendered":"Fool Me Twice: Will Bitcoin Rally on April Fools’ Day Once Again?"},"content":{"rendered":"

April 1st, 2019 kicked off a massive rally in Bitcoin<\/a> that over the course of the three months that followed, the cryptocurrency rose from $3,000 to $13,000.<\/span><\/p>\n

Will Bitcoin price rally once again this April Fools’ Day<\/a>, or will the market not fall for the same tricks as the last time around?<\/span><\/p>\n

Fool Me Once: Bitcoin\u2019s 2019 Parabolic Rally Remembered<\/span><\/h2>\n

In late December 2018, Bitcoin<\/a> set a \u201cbottom\u201d at $3,100, then spent the first quarter of 2019 ranging near the lows.<\/span><\/p>\n

Starting on April Fools’ Day in 2019, played bearish traders expecting additional downside as fools, breaking out of the trading range and going on a parabolic rally.<\/span><\/p>\n

Related Reading | Bitcoin Price Just Death Crossed, But Last Time Led To Historic China Pump\u00a0<\/a><\/strong><\/em><\/p>\n

At each major resistance point, bearish traders entered short positions that were merely used as rocket fuel for the asset to continue its powerful push upward, forcing shorts to cover their positions as Bitcoin price climbed higher and higher<\/a>.<\/span><\/p>\n

The start of the rally was the talk of the finance world, with conspiracy theories surrounding a single-actor<\/a> coordinating a massive buy order across multiple exchanges during the late hours of the night. <\/span><\/p>\n

Other theories included trading bots picking up on fake news that Bitcoin price had rallied on the prank-filled holiday<\/a>, prompting them to place buy orders in a panic, causing the price to soar as a result.<\/span><\/p>\n

Whatever the cause, Bitcoin<\/a>\u2019s April Fools’ Day rally last year was one for the history books.<\/span><\/p>\n

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April 1st (April Fools Day) kicked off a huge bull run for $BTC<\/a> last year. Wonder if we see the same again? pic.twitter.com\/cYWxqLZcxE<\/a><\/p>\n

— IncomeSharks (@IncomeSharks) March 25, 2020<\/a><\/p><\/blockquote>\n