I was expecting to experience an uptrend in all risky markets in April after the chaotic times of tariff wars was somehow postponed. The time given by Trump was a sign that he wants to do it with less harm to both the markets in the U.S. and the other countries. Though the positivity had shown itself after his softer approach, it was not enough to cover the losses for many assets.
Once the uptrends are broken and the daily and weekly candle closes confirm a trend violation, it gets harder to attract the investors back to their previous investment positions. As a consequence of deep shocks in the tariff wars and Trump's bold words targeting the chair of the FED, Powell, many investors adopted the safest position management strategy called "sit and watch".
The stock markets did not perform as well as Bitcoin but what I expected in the last month's post came true through the end of the month.
Potentially, we may see the bloodbath going on until the levels are around 18.4K or even 16.7K. In the positive scenario, the violation of the channel can be temporary with a strong " god candle" which enters the price back to the uptrend.
The price hit 16.3K, which was also when Bitcoin was around $74K. The weak hands were hunted down with fear and uncertainty, while the bulls were able to secure their positions until the volatility settled down.
The month was magnificent for those who took a position in Bitcoin on April 1st or when it hit $74K. The monthly close gave us a solid 14% return on the investment, which is a perfect gain considering the chaos during the month!
Unfortunately, the majority of the altcoins did not follow Bitcoin's path, and they either had slight gains or losses by saddening the investors once again. Overall altcoin market, TOTAL3 index, gained 5.4% in April as we had doubts about the performance of alts in such times.
When it comes to today, I feel more confident regarding the performance of markets in May. The tariffs narrative is losing its impact the upcoming news is likely to be on the positive side for many small countries. For the Euro Zone and China, we need to be patient to get agreement news.
What are your thoughts about the performance of markets and assets in April?
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Hive On ✌️
