We’re finally approaching the end of March, a month that has historically been bearish for Bitcoin. In spite of that, however, this month seems to be an exception, with Bitcoin currently up 23,82 %. The stock market also took a hit, with the S&P 500 index losing the monthly open for a while in the first half of the month, but currently being back up 4,29 %.
This week has seen quite a bit of bullish news for Bitcoin: Tesla will accept Bitcoin payments for its cars and sovereign wealth funds might start buying Bitcoin (or may have already been buying it for some time). The most important thing about the Tesla announcement is that the company won’t sell the Bitcoin it receives for fiat, but will rather add it to its existing reserves. If other companies follow suit — and this is certainly possible — then we could see much more buying pressure in the coming weeks and months. Certainly, it seems that April could be better for the market as a whole, as it has been historically bullish, and open interest in the options market suggests that many traders are expecting Bitcoin to reach above $80k.
As for the developments here at NewsCrypto, on Tuesday we held the Crypto 101 webinar, where our team members explained everything that a beginner needs to know to start investing in and trading crypto. The webinar also included a Q&A section and a fireside chat with some experienced traders, giving attendees valuable first-hand insight into the process of investing and trading.
Our app v2.0 will be released by the end of the month, so we’ve just been making some finishing touches leading up to the release. The app will be completely redesigned and upgraded, so be sure to stay tuned for the release!
Vid Gradišar, Newscrypto CEO