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Chart of the Week: Will April Bring Good Luck or Fool's Hope?

As the calendar flips to April, cryptocurrency markets are bracing for a month that has historically been a mixed bag for digital assets.

According to CoinDesk's chart of the week, April has been a month of contrasts for cryptocurrencies. On the one hand, the month has seen some of the most significant price gains in recent years, with Bitcoin (BTC) surging 44% in April 2020 and Ethereum (ETH) climbing 55% in April 2021.

On the other hand, April has also been a month of significant losses. In 2018, Bitcoin plummeted 23% and in 2019, it fell 14%. Meanwhile, Ethereum declined 15% in April 2019.

This year, the outlook is uncertain, with some analysts predicting a continued rally for cryptocurrencies, while others warn of a potential correction.

The chart shows that April has historically been a month of increased volatility, with the average daily price change for Bitcoin and Ethereum ranging from 2% to 5%.

As the market navigates this uncertain terrain, investors will be keeping a close eye on key technical levels and market sentiment indicators to gauge the direction of the market.

Will April bring good luck or fool's hope? Only time will tell.