Analysts Predict Strong Bitcoin Comeback in April

Analysts Predict Strong Bitcoin Comeback in April Published Mar 17, 2025 at 6:58 AM EDT CLOSE X By Hugh Cameron is Newsweek U.S. news reporter based in London, U.K. with a focus on covering American economic and business news. Hugh joined Newsweek in 2024, having worked at Alliance News Ltd where he specialised in global and regional business developments, economic news, and market trends. He graduated from the University of Warwick with a bachelor's degree in politics in 2022, and from the University of Cambridge with a master's degree in international relations in 2023. Languages: English. You can get in touch with Hugh by emailing [email protected] Writers Page Hugh Cameron U.S. News Reporter Newsweek Is A Trust Project Member FOLLOW news article Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Share Copy Link ✓ Link copied to clipboard! Certain experts are penciling in a strong rebound for bitcoin heading into summer, after a tough few months for the flagship cryptocurrency.According to analysis of bitcoin's historic price patterns by economist Timothy Peterson on his X, formerly Twitter, account @nsquaredvalue, the currency will escape from its current lull in April, continuing to recover value through May to reach $126,000 by June 1.Why It MattersDespite hopes that the January 20 inauguration of President Donald Trump—who had campaigned on promises to enact industry-friendly policies once in office—would usher in a boom for cryptocurrency, bitcoin and other major tokens have lost significant value since the beginning of his administration.However, mounting fears over a U.S. recession have led some to speculate that bitcoin, like gold, could serve as a safe-haven asset should an extended economic downturn hit the country in the near-future. Others, meanwhile, believe a recession could put further downward pressure on bitcoin and other cryptocurrencies.What To KnowAccording to Peterson on X, his price forecast is based on bitcoin's historical bull runs having taken place in April and October.Bitcoin gained around 12 percent in October 2024, before undergoing an unprecedented postelection rally to reach an all-time high of $109,115 on January 20, per CoinMarketCap. The cryptocurrency is currently trading at around $83,500, having fallen more than 23 percent since the inauguration. Last week, the token fell below $80,000 for the first time since November. File photo: People walk past a cryptocurrency exchange office with a screen featuring U.S. President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025. File photo: People walk past a cryptocurrency exchange office with a screen featuring U.S. President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025. Mladen Antonov/AFP via Getty Images Trump has followed through on some of his rhetorical commitments to bitcoin since reentering office. The president appointed David Sacks, a prominent figure in the crypto space, to be the first-ever "White House AI & Crypto Czar," and hosted the first White House crypto summit on March 7.After establishing a Working Group on Digital Asset Markets to look into the possibility, on March 6 the president announced that the U.S. government would begin building up its own "Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile;" the latter will likely be made up of Ethereum, as well as other tokens previously mentioned by Trump.However, this did not translate into a significant price increase, as some had hoped; it was revealed that the strategi

White House AI and Crypto Czar

Trump has followed through on some of his rhetorical commitments to bitcoin since reentering office. The president appointed David Sacks, a prominent figure in the crypto space, to be the first-ever White House AI & Crypto Czar, and hosted the first White House crypto summit on March 7.After establishing a Working Group on Digital Asset Markets to look into the possibility, on March 6 the president announced that the U.S. government would begin building up its own Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile; the latter will likely be made up of Ethereum, as well as other tokens previously mentioned by Trump.However, this did not translate into a significant price increase, as some had hoped; it was revealed that the strategic reserve would be replenished solely with bitcoin obtained in criminal and civil forfeiture cases, rather than the government purchasing large quantities of the cryptocurrency.