{"id":459472,"date":"2021-03-24T18:57:33","date_gmt":"2021-03-24T18:57:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459472"},"modified":"2021-03-24T18:57:33","modified_gmt":"2021-03-24T18:57:33","slug":"why-these-analysts-predict-a-bitcoins-price-at-80000-by-april","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/why-these-analysts-predict-a-bitcoins-price-at-80000-by-april\/","title":{"rendered":"Why these analysts predict a Bitcoin\u2019s price at $80,000 by April?"},"content":{"rendered":"<p>With <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-faces-trouble-as-dollar-logs-fresh-2021-high-researcher-warns\/\">Bitcoin&#8217;s price barely holding above its support level<\/a>, indicators are turning more bullish. After this period of sideways movement, BTC could be poised for a big upside move soon.<\/p>\n<p>Glassnode co-founders Yann Allemann and Jan Happel have shared data from the firm that points to a high appreciation in BTC price. This is due to the expiration of $6 billion in options contracts set to mature this Friday. Allemann and Happel <a href=\"https:\/\/twitter.com\/Negentropic_\/status\/11966465\" target=\"_blank\" rel=\"nofollow\">stated<\/a>:<\/p>\n<blockquote><p>Bitcoin price expectations for April are high with lots of investors placing their new bets on $80k.<\/p><\/blockquote>\n<figure id=\"attachment_459474\" aria-describedby=\"caption-attachment-459474\" style=\"width: 727px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-459474 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24.jpg?resize=727%2C436\" alt=\"Bitcoin BTC\" width=\"727\" height=\"436\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24.jpg?w=727 727w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24.jpg?w=460 460w\" sizes=\"auto, (max-width: 727px) 100vw, 727px\"><figcaption id=\"caption-attachment-459474\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p>As the image above shows, a large portion of investors on Deribit&#8217;s platform are confident that the cryptocurrency&#8217;s price will settle at those levels. Similarly, there is also a high volume of calls for a Bitcoin price at $120,000 for the same date, April 30th.<\/p>\n<h2>Does Elon Musk influence Bitcoin\u2019s price?<\/h2>\n<p>In support of the bull case, Glassnode&#8217;s <a href=\"https:\/\/twitter.com\/glassnode\/status\/89465605\/photo\/1\" target=\"_blank\" rel=\"nofollow\">Reserve Risk<\/a> metrics indicate &#8220;strong long-term holder conviction&#8221; in the current price. The firm stated in a recent report, pointing at <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-miners-stop-selling-why-it-is-bullish-for-btc\/\">big support for BTC\u2019s to take a big jump<\/a>:<\/p>\n<blockquote><p>The current risk\/reward ratio to invest and hodl is still attractive compared to previous $BTC cycle tops. Current level: 0.008, Precious tops: &gt; 0.02<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Reserve Risk indicates a strong conviction of long-term holders at these price levels.<\/p>\n<p>The current risk\/reward ratio to invest and hodl is still attractive compared to previous <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> cycle tops.<\/p>\n<p>Current level: 0.008<br \/>Precious tops: &gt; 0.02<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a><\/p>\n<p>Chart: <a href=\"https:\/\/t.co\/Pr4VA4QrXX\" rel=\"nofollow\">https:\/\/t.co\/Pr4VA4QrXX<\/a> <a href=\"https:\/\/t.co\/sPKtTp3FnH\" rel=\"nofollow\">pic.twitter.com\/sPKtTp3FnH<\/a><\/p>\n<p>&mdash; glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/89465605?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Tesla&#8217;s CEO Elon Musk announced that his company began accepting payments in BTC. The entrepreneur made two additional major disclosures: the company runs its own Bitcoin nodes, profits will be held in Bitcoin. Musk <a href=\"https:\/\/twitter.com\/elonmusk\/status\/29772034\" target=\"_blank\" rel=\"nofollow\">stated<\/a>:<\/p>\n<blockquote><p>Tesla is using only internal &amp; open-source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.<\/p><\/blockquote>\n<p>Analyst William Clemente believes Musk&#8217;s announcement strategically coincides with the $6 billion of options set to expire in a few days. Clemente believes that many investors will see their contracts expire worthlessly and on platforms that back their options with physical Bitcoin, bearish investors could buy more BTC &#8220;to cover their losses.&#8221; Clemente added:<\/p>\n<blockquote><p>It is worth mentioning that some of these puts are just hedging downside risk, more so referring to positions solely on the short end of the trade that don&#8217;t get rolled over.<\/p><\/blockquote>\n<p>Bitcoin price is at $56,904 with slight gains of 1.4% in the last day. On the 7-day chart, the cryptocurrency shows losses of 1.4%. The market capitalization stands at $1.4 trillion.<\/p>\n<figure id=\"attachment_459476\" aria-describedby=\"caption-attachment-459476\" style=\"width: 722px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-459476 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?resize=722%2C356\" alt=\"\" width=\"722\" height=\"356\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?w=722 722w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?w=130 130w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?w=104 104w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Bitcoin-BTC24-1.jpg?w=83 83w\" sizes=\"auto, (max-width: 722px) 100vw, 722px\"><figcaption id=\"caption-attachment-459476\" class=\"wp-caption-text\">Bitcoin with slight gains in the 24-hour chart. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" target=\"_blank\" rel=\"nofollow\"> BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>With Bitcoin&#8217;s price barely holding above its support level, indicators are turning more bullish. After this period of sideways movement, BTC could be poised for a big upside move soon. Glassnode co-founders Yann Allemann and Jan Happel have shared data from the firm that points to a high appreciation in BTC price. This is due to the expiration of $6 billion in options contracts set to mature this Friday. Allemann and Happel stated: Bitcoin price expectations for April are high with lots of investors placing their new bets on $80k. As the image above shows, a large portion of investors on Deribit&#8217;s platform are confident that the cryptocurrency&#8217;s price will settle at those levels. Similarly, there is also a high volume of calls for a Bitcoin price at $120,000 for the same date, April 30th. Does Elon Musk influence Bitcoin\u2019s price? In support of the bull case, Glassnode&#8217;s Reserve Risk metrics indicate &#8220;strong long-term holder conviction&#8221; in the current price. The firm stated in a recent report, pointing at big support for BTC\u2019s to take a big jump: The current risk\/reward ratio to invest and hodl is still attractive compared to previous $BTC cycle tops. Current level: 0.008, Precious tops: &gt; 0.02 Reserve Risk indicates a strong conviction of long-term holders at these price levels. The current risk\/reward ratio to invest and hodl is still attractive compared to previous $BTC cycle tops. Current level: 0.008Precious tops: &gt; 0.02#Bitcoin Chart: https:\/\/t.co\/Pr4VA4QrXX pic.twitter.com\/sPKtTp3FnH &mdash; glassnode (@glassnode) March 23, 2021 Earlier, Tesla&#8217;s CEO Elon Musk announced that his company began accepting payments in BTC. The entrepreneur made two additional major disclosures: the company runs its own Bitcoin nodes, profits will be held in Bitcoin. Musk stated: Tesla is using only internal &amp; open-source software &amp; operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency. Analyst William Clemente believes Musk&#8217;s announcement strategically coincides with the $6 billion of options set to expire in a few days. Clemente believes that many investors will see their contracts expire worthlessly and on platforms that back their options with physical Bitcoin, bearish investors could buy more BTC &#8220;to cover their losses.&#8221; Clemente added: It is worth mentioning that some of these puts are just hedging downside risk, more so referring to positions solely on the short end of the trade that don&#8217;t get rolled over. Bitcoin price is at $56,904 with slight gains of 1.4% in the last day. On the 7-day chart, the cryptocurrency shows losses of 1.4%. The market capitalization stands at $1.4 trillion.<\/p>\n","protected":false},"author":535,"featured_media":456897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,1144],"class_list":["post-459472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Why these analysts predict a Bitcoin\u2019s price at $80,000 by April?<\/title>\n<meta name=\"description\" content=\"With Bitcoin&#039;s price barely holding above its support level, indicators are turning more bullish. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/ktsl888.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Why these analysts predict a Bitcoin\u2019s price at $80,000 by April?","description":"With Bitcoin's price barely holding above its support level, indicators are turning more bullish. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/ktsl888.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why these analysts predict a Bitcoin\u2019s price at $80,000 by April?","url":"http:\/\/ktsl888.com\/news\/why-these-analysts-predict-a-bitcoins-price-at-80000-by-april\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/why-these-analysts-predict-a-bitcoins-price-at-80000-by-april\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin_price_rise.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin_price_rise.jpg?fit=1000%2C625"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-03-24T18:57:33Z","datePublished":"2021-03-24T18:57:33Z","dateModified":"2021-03-24T18:57:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why these analysts predict a Bitcoin\\u2019s price at $80,000 by April?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-these-analysts-predict-a-bitcoins-price-at-80000-by-april\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-these-analysts-predict-a-bitcoins-price-at-80000-by-april\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin_price_rise.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin_price_rise.jpg?fit=1000%2C625\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-03-24T18:57:33Z\",\"datePublished\":\"2021-03-24T18:57:33Z\",\"dateModified\":\"2021-03-24T18:57:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin_price_rise.jpg?fit=1000%2C625","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=459472"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/456897"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=459472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=459472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=459472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}