• Historical data shows that Bitcoin has averaged 51% gains in April over the past 10 years.
  • This means the Bitcoin price could reach $80,000 if it follows the average gains made each year.
  • Bitcoin options open interest shows that a majority of investors are betting on a strike price of $80,000 on call options in April.

April has historically been the most bullish month for Bitcoin. Although the pioneer cryptocurrency recorded new all-time highs in 2021, BTC has been hit with double-digit losses in March. 

Bitcoin averages a 51% gain every April

While Bitcoin has reached an all-time high at over $60,000, the cryptocurrency retraced to the $55,000 level at the time of writing. The world’s largest digital currency has been lacking upward momentum and more or less stayed less volatile as $6 billion of Bitcoin options expired on March 26. 

Based on Bitcoin’s historical data, April has been a massively bullish month for the digital currency. Price data over the past ten years revealed a 51% average gain for Bitcoin in April, according to Danny Scott, the chief executive of crypto exchange CoinCorner. 

Scott further pointed out that there have only been two Aprils where Bitcoin witnessed losses in 2014 (-6%) and 2015 (-4%). Considering a 51% average gain for the leading digital asset in April, this could mean that Bitcoin could reach over $80,000 in the next month.

Following institutional investment in Bitcoin, including Elon Musk’s endorsement of the cryptocurrency with its announcement through Tesla, Wall Street giants could follow suit along with other countries in the world, according to Scott. 

Sovereign wealth funds have already started to invest in Bitcoin. Notably, Singapore’s government fund Temasek has been purchasing virgin BTC from miners. NYDIG’s Robert Gutmann further revealed last week that the firm has been in discussions with sovereign wealth funds about getting their foot in the door with Bitcoin.

Investors expect Bitcoin to rally in April

Bitcoin price predictions are high for April, as investors have been placing their bets for the coming weeks based on the effects of crypto exchange Coinbase’s direct listing on the NASDAQ.

Deribit’s data shows that while March BTC options have expired, the outlook on April is more bullish, with $2 billion in open interest and a 0.79 put/call ratio. In April, price predictions for Bitcoin have been set higher, as a majority of investors are betting on a strike price of $80,000 for BTC call options. 

Bitcoin April options open interest

Bitcoin April options open interest

After pullbacks in price around monthly options expiry, the Bitcoin price rallied afterward, according to historical data. Sam Bankman-Fried, CEO of crypto exchange FTX, explained:

BTC derivatives have been the primary drivers of spot markets for years. At least since 2018, derivatives move spot more than spot moves derivatives.

However, Bobby Ong, the chief operating officer at CoinGecko, suggests that if Bitcoin’s performance turns out to be strong in April, it could just be a coincidence. 

There has not been a good reason for why Bitcoin historically rallies in April, and according to Ong, it could be due to the cryptocurrency’s underperformance in March; therefore, April witnesses a recovery in price. He concluded:

If enough people think that March will underperform and take appropriate steps, then actual performance will underperform too.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Cardano price could trap impatient investors before triggering an explosive move to $0.505

Cardano price could trap impatient investors before triggering an explosive move to $0.505

Cardano price shows a consolidation below a stable support level and has yet to reveal a directional bias. The ongoing range tightening will likely resolve as the US markets head to a fresh start this week.

More Cardano news

LUNA Classic price hints at a 25% crash as Do Kwon under Red Notice from Interpol

LUNA Classic price hints at a 25% crash as Do Kwon under Red Notice from Interpol

LUNA Classic price reveals a bearish outlook that could unfold over the course of this week. A minor run-up seems plausible, but it is just a move to squeeze the bulls. Therefore, market participants should be ready for a quick reversal. 

More Luna Classic news

Ethereum Price Prediction: Assessing the possibility of a post-Merge rally

Ethereum Price Prediction: Assessing the possibility of a post-Merge rally

Ethereum price trades at $1,323 on Sunday, several days after sliding to $1,200. It was a surprise that the largest smart contracts token would give up most of its gains during and after the much-publicized Merge. On-chain data shows a significant reduction in the Ethereum Supply.

More Ethereum news

Why Chainlink price could lose momentum at $8.00

Why Chainlink price could lose momentum at $8.00

Chainlink price is among the few crypto assets in the green on Sunday. The smart contacts’ price feed oracle token defied the bear market this week to post 23.7% gains. As discussed earlier in the week, the V-shaped pattern matured at LINK brushed shoulders with $8.00.

More ChainLink news

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP