Bitcoin Stages Sudden Comeback. Will It Snatch Another Month in the Green?

Alex Dovbnya

Bitcoin has ripped sharply higher over the past few hours, raising the probability of closing this month in the green

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Fri, 30/04/2021 - 16:56

Bitcoin Stages Sudden Comeback. Will It Snatch Another Month in the Green?

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After seeing its market bleed for weeks, Bitcoin has managed to stage a sudden comeback on the last day of April.

The flagship cryptocurrency touched a 13-day high of $57,442 at 4:01 p.m. UTC on the Bitstamp exchange.

At the time of wiring this article, Bitcoin is only 2.8 percent away from finishing the month in the green with hours left till the daily close after plunging to roughly $47,000 on Apr. 28.

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Capital rotation to Ethereum was one of the main narratives of late April, with JPMorgan predicting that it should ultimately outperform the crypto king. However, this trend appears to be reversing course, with the ETH/BTC pair now plunging by over six percent in the last few hours.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.