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Bitcoin set to close first ‘red’ April in 6 years as Ethereum keeps hitting all-time highs

April 29, 2021. Summarized by summa-bot.

Compression ratio: 46%. 1 min read.

Bitcoin and Ethereum could not be more different as BTC/USD heads to a rare "red" April but ETH/USD hits fresh all-time highs.

Bitcoin (BTC) may not be worrying analysts with its latest price dip, but it will likely close its first negative month of April in six years this week despite hitting a new all-time high two weeks ago.

At the time of writing, with less than two days to go until May, BTC/USD traded at around $54,600, having briefly spiked to $56,200 on rumors that Facebook had purchased Bitcoin in Q1.

“If you sold Bitcoin because Facebook didn’t buy any in Q1 and you also think you’re GMI, I have some unfortunate news for you,” Travis Kling, CEO of crypto asset manager Ikigai, told Twitter followers.

BREAKING: Facebook has purchased 0 bitcoin for an aggregate price of $0 in a strategic corporate move to have fun staying poor. — TEXAN HODL (@TexanHodl) April 28, 2021

Ether (ETH), the largest altcoin, which hit fresh all-time highs this week, is showing itself to be particularly uncorrelated to Bitcoin under current conditions.

Toward Q4, however, Bitcoin should then awaken to continue its journey higher.

by summa-bot

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