Why Bitcoin will Bounce Back this 2nd Quarter of 2018?

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Most of us suffer from the down value of Bitcoin this early 2018 (1st quarter of the year). From the historical high value of Bitcoin at the end of 2017 which valued at almost $20,000, now its current value is nearly at $6,600. I feel sorry for some who did buy bitcoin at high price and now its price lowered at worriable price. But we should not be worried, as an old proverb says "The sun will always rise after the dark".

The down value of this asset has many reasons. Most of these are FUD (fear, uncertainty, doubt) coming from people who wants to talk negative news about bitcoin.Maybe they don't want bitcoin or maybe they want the price to fall and buy at lower cost. News about regulating cryptocurrencies and banning of bitcoin exchange in some countries also contributes to the down of bitcoin. Some people panicked and sell off their coin thinking that action could stop the damage of their investment.

There are reasons for everything

I believe that every event happened for a reason. There are reasons in which the price go down and surely there are also reasons in which it goes up. As of now, I heard and I am full of reasons on why the value of bitcoin goes down for the past days, weeks, and months. As much as possible I want to hear some reasons on why its value will goes up. Here are the reasons why I can say that bitcoin will rise sooner this 2nd quarter.

Reasons why bitcoin will rise this 2nd quarter

• 1. U.S. Tax season is nearly over.
  The tax season for U.S. will end this April 15 and its getting near. For the investors who benefited from the bitcoin's price rally in December, 2017, the are now in need of paying their taxes. So during the tax season, investors have the feeling of sell off pressure just to pay for taxes. Tax related selling that is happening in march will come to end not more than a week

• 2. Coincheck Deal in Sight
  It is a confidence booster. CNN reported that Japan's coincheck is may be on the block. Coincheck is a bitcoin and cryptocurrency exchange. It attracts potential buyers and investors and make bitcoin's trading volume increases that will be hopefully increases the price.

• 3. History Is on Bitcoin’s Side
  If we take a look at the price history of bitcoin, we can see that it suffers at the month of march. They say that march is a bad month for trading cryptocurrencies. And the good news is history says that bitcoin started to rise when it enter the month April. Well, april is the good start for trading. Even the price suffers at month of march, bitcoin's performance always bounce back and it proves that history repeats itself.

For more on this, check out my sources for this news.

1. https://www.ccn.com/3-reasons-why-the-bitcoin-price-will-rebound-in-q2/
2. https://finance.yahoo.com/news/3-reasons-why-bitcoin-price-200656204.html

Thank you for your time.

Best Regards,

@thinkingmind