April Bulls Day? Bitcoin just closed its best March and Q1 in eight years
One week in review:
March 28–April 3 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | SPONSORED: Win $250 worth of Bitcoin by sharing your thoughts on crypto brands and companies | | | There is no wrong answer, and your feedback will help brands to improve their services. | | #1. April Bulls Day? Bitcoin just closed its best March and Q1 in eight years | | | Despite March being a historically dreary month — with losses in six of the past nine years — BTC delivered gains of 29.84% over this 31-day period. Better still, we're now heading into April, where BTC has only suffered negative returns twice since 2013. | | | Across the first quarter of the year, covering January to March, Bitcoin also gained 103%, clocking up the best performance in eight years. | | | Traditionally, Q2 is the strongest time of the year for Bitcoin — with only two years seeing negative returns, both under 10%. Bulls will now have their sights set on surpassing the gains of 159% seen between April and June 2019. | | #2. ETH breaks record all-time high amid fresh price surge | | | Altcoins have been in the driver's seat this week, with Ether breaking $2,100 for the very first time — besting the ATH of $2,036 that was set on Feb. 20. Curiously, several coins belonging to so-called "Ethereum killer" blockchains have been thriving, too. | | | ETH's price broke out against Bitcoin for the first time in 23 days on Thursday, not long after credit card giant Visa announced it was piloting a program that will allow its partners to use Ethereum's blockchain to settle transactions made in fiat. | | | Traders have now become exceedingly bullish on Ether's prospects and are expecting more upside in the short-term, with $2,500 now in play. In particular, there's interest in the price activity we could expect in June and July when a major improvement proposal called EIP-1559 is set to overhaul Ethereum's existing fee structure. | | #3. PayPal to start letting U.S. customers pay in Bitcoin at global merchants | | | Bitcoin's bounce back from $55,000 was likely fueled by PayPal's announcement that crypto will now be accepted as a medium of exchange at millions of global merchants. | | | Crypto will be converted into fiat as soon as the transaction takes place, and the payments giant says this will create "certainty of value and no additional transaction fees." | | | PayPal CEO Dan Schulman said: "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies." | | #4. Prediction of the week: One BTC will be worth a Lambo by 2022, and a Bugatti by 2023: Kraken CEO | | | Speaking to Bloomberg, Jesse Powell was keen to offer alternatives to measuring Bitcoin's value in dollars — by comparing future price action to high-end sports cars… which can also have their value measured in dollars. | | | Powell said that one Bitcoin, which is currently worth a Tesla Model 3, could be worth one Lambo by the end of this year… and one Bugatti by 2023. | | #5. FUD of the week: iPhone user blames Apple for $600,000 Bitcoin theft via fake app | | | A scam cryptocurrency app in Apple's App Store has reportedly swindled 17.1 BTC from one unsuspecting user. | | | Phillipe Christodoulou had thought he had downloaded official Trezor software, given how it had many five-star reviews. Little did he know that the company doesn't currently provide such an app. | | | After entering his seed phrase, Christodoulou says his funds were stolen. His crypto haul was worth $600,000 at the time, but now it's worth $1 million. | | | The Washington Post reports that he has now filed a report with the FBI, but it seems the victim is reserving most of his anger for the tech giant: "They betrayed the trust that I had in them. Apple doesn't deserve to get away with this." | | #6. FUD of the week: Oops! A 100% Bitcoin hodl outperformed CNBC's 2017 altcoin basket by 170% | | | An investment portfolio that was championed by CNBC at the time has now resurfaced, which was made up of 30% Bitcoin and 70% altcoins. | | | Four years on, those who invested $10,000 at the time would now have about $52,300. Had they just bought and hodled Bitcoin, they would now have over $140,000. | | | StatsBTC, which crunched the numbers, noted: "The 30% #BTC allocation is responsible for 75% of the return." | | | Feel free to explore the most important news with Hodler's Digest: | | | |
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