Here’s why April was Bitcoin’s best month in 2018

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Published: May 2, 2018 4:42:36 PM

The popular digital currency recorded 33 percent gains against the US dollar in the month of April, easily making it the best month in this year.

The month of April marks the greatest rise of the digital currency price in 2018.

Finally popular cryptocurrency Bitcoin has something to cheer about. No, it’s not about it regaining its mojo of 2017 back, but something else. After weeks of downturn April easily turns out to be the best month for Bitcoin in the year 2018. The popular digital currency recorded 33 percent gains against the US dollar in the month of April, easily making it the best month in this year.

However, the regained momentum was lost as the world’s largest cryptocurrency entered the month of May as it again fell below the psychologically important $9,000 mark. The CoinDesk’s Bitcoin Price Index (BPI) data shows that Bitcoin began the month of May with its price at the $9,244.32 mark – a 33 percent jump from its April 1 start of $6,926.02.

The month of April marks the greatest rise of the digital currency price in 2018 and it’s the only time when it climbed at all within the period. In the month of February, Bitcoin only surged by 1.4 percent. Between January and February, Bitcoin dropped from $13,860 to $10,166. In the month of March, it fell even more heavily from $10,309 to just below $7,000.

The popular digital currency is yet to recover the $10,000 mark. However, there was no apparent reason for bitcoin’s plunge. Bitcoin was trading at $9,160.39 up by 1.02 percent on CoinDesk at the time of reporting.

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