Crypto Bull Market. Is Bitcoin Bouncing Back?
Cryptocurrency markets are enjoying their first major upswing of the year, rising past $5,000 for the first time since November 2018 over the first three days of April before closing below that mark on April 4th.
The volatile behavior inherent to cryptocurrencies was on display throughout. Cointelegraph reported that some major coins “[saw] a mild surge in price, [while] others [boasted] double-digit gains.” CCN’s Yashua Gold indicated that bitcoin, which reached a “fresh yearly high at $5,342…was already trending inside an overbought zone when the downside action started,” as of April 4th. Its pulled back “towards $4,789, a higher low [from April 3rd]. The price didn’t extend the correction and started consolidating within a new trading range instead.”
Bitcoin is having a solid 2019 thus far despite the recent slight downturn. CCN indicates the price “has climbed 30% year-to-date,” and some industry figures believe it remains undervalued. Tom Lee of investment research firm Fundstrat Global Advisors told CNBC that bitcoin is trading “almost 64% below its fair market value” – a staggering number.
This figure, which CCN reports is calculated using a variety of factors including “the number of active bitcoin addresses coupled with activity per user,” as well as bull market factors “and the BTC mining breakeven price…which has fallen from a range of about $6,000 to $8,000 last year to between $5,000 and $6,000 now,” means bitcoin is theoretically worth around $14,000 – a number based on the fact that “a commodity during a bull period…generally trades two-to-2.5 times its breakeven.”
It is a figure that invites skepticism but remains significant. 2017 and early 2018’s boom cycle stoked public imagination about bitcoin’s potential. That imagination surfaces periodically during bull markets, where bitcoin often displays wild gains. Cointelegraph reported that Google Trend data indicated “search requests for Bitcoin…jumped from roughly 30 to 100” after prices increased by 15 percent overnight on April 2. The Google Trend number, which indicates “search interest relative to the highest point on the chart for the given region and time,” at the very least represents a lingering interest in the asset despite well-publicized downturns and intense volatility.
Cryptocurrencies will continue to invite intense speculation, but never more so than after periods of substantial gains in a short time frame. The latest upswing may lack concrete answers – is it fueled by Brexit? An April Fool’s prank indicated the SEC approved a Bitcoin ETF? A Bloomberg report citing algorithmic hedge fund trading? – but it happened, and very well could happen again.
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Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.
BTC.X in upward trend: price rose above 50-day moving average on August 17, 2026
BTC.X moved above its 50-day moving average on August 17, 2026 date and that indicates a change from a downward trend to an upward trend. In of 50 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on August 19, 2026. You may want to consider a long position or call options on BTC.X as a result. In of 143 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on August 18, 2026. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 66 cases over the following month. The odds of a continued upward trend are .
The 10-day moving average for BTC.X crossed bullishly above the 50-day moving average on August 19, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In of 22 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 424 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 396 cases where BTC.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BTC.X broke above its upper Bollinger Band on August 19, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
