The latest cryptocurrency news show that the Bitcoin price performance is in a very green period. As the most dominant cryptocurrency is set to end April with around 26% in gains, which marks the third straight monthly increase and the first winning streak for consecutive three months since the final quarter of 2017.
In other words, the Bitcoin price managed to be in consecutive greens for three months, after its stellar gains in April. With this, Bitcoin (BTC) is on a track to confirm a long-term bullish reversal and this period is meant to be written in the best crypto currency news and top price performance periods for BTC.
Right now, Bitcoin is trading at $5,330. The Bitcoin price performance sees another 3% in gains added on the day, representing around 30% gains on the monthly opening price of $4,081 and gaining 9.8% and 8.16% in February and March, respectively.
So, it is easy to see that aside from the booming altcoin news, Bitcoin is seeing the first positive three-month run since the last quarter of 2017 when it appreciated by 48%, 54% and 39% in the months of October, November and December respectively.
The April gains for Bitcoin would have been at more than 35% if the BTC price managed to hold on to the five-month highs above $5,600 established on April 23. However, the Bitcoin price performance is still in a good zone, especially for extending his three-year April winning run.
Most importantly, the solid double-digit monthly gain for Bitcoin showed that BTC has violated a long-term bearish channel and got over the “crypto winter” which was troubling both Bitcoin and many other altcoins. A similar pattern like this triggered the Bitcoin price performance in October 2015 and made BTC surge for a 2.5 year long bull market.
Right now, the probability of BTC to post similar follow-throughs and surge even more is high, mostly because the dominant cryptocurrency is supposed to undergo a mining reward halving in May 2020. This process is repeated every four years and has positively impacted the Bitcoin price performance.
As many best cryptocurrency news sites are showing, BTC looks likely to register gains in a seasonally mixed month of May. The odds for this, however, would fall sharply if the Bitcoin price performance lowers today and finds support in the $5,100 region soon.
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