The April Fool’s Day Rally did not take place this year
|Marek Feder|source|489x
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The April Fool’s Day Rally did not take place this year

The year 2019 was a nice ride for cryptocurrencies. We've seen prices below $ 3,000, but they also climbed over $ 14,000 as well. With volatility and price fluctuations, it was very similar to 2017, which is still one of the most important years in the history of cryptocurrencies.

Last year's ride on the cryptocurrency market, however, started on a very interesting day. It was a day of fools, April 1, when the price of Bitcoin broke through several obstacles and went from $ 4,100 to $ 5,000. And it was this movement that started the ride, which ended at nearly $ 14,000 at the end of June 2019.

The reasons for growth are, of course, unknown. Fundamentals did not change at that time, and few traders expected such a scenario. One of the “theories” explaining this growth says it was a bot that was set up to buy “buy positions” on April 1 as a prank. However, it started giving the market the boost it needed.

People, therefore, expected something similar to happen this year. However, the situation, especially from an economic point of view, is completely different. That is why on April 1, nothing unusual happened on the markets. The prices of cryptocurrencies moved only casually, and none of the leading cryptocurrencies showed any signs of unusual behavior.


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