In April, the news background around bitcoin began to change. If in the first quarter of 2018 news and moods coincided, remaining negative, in April it may change, affecting the prices of cryptocurrency. Traders and owners of cryptocurrency will soon be able to see "good signs" for digital currencies — in particular, the interest of institutional investors. This was stated by the Director of Abra, and it seems he was not unfounded.
Growth of the cryptocurrency market over the weekend
On Friday, they began to talk about the fact that George Soros and his Fund, which manages assets worth $26 billion, are involved in cryptocurrency trade. As reported by Bloomberg, Adam Fisher, who is responsible for global macroeconomic investments in Soros Fund Management, has already received internal approval for operations in the crypto currency, but has not yet started trading.
In fact, the perception of the news is somewhat inflated as Soros Fund Management and George Soros himself made no loud statements. Specific plans for the future were also not announced. However, after Soros spoke critically about the "bitcoin bubble" last year, and now his name stands next to the word "crypto-trading", it did not take direct quotes and accurate plans to change moods.
Also, in the context of cryptocurrencies, another very significant surname appeared. The Rockefeller family and Their venrock venture Fund announced their collaboration with Coinfund crypto-investment group to "support cryptocurrencies and business innovations using blockchain technology".
The change of mood can lead to an increase in prices for cryptocurrencies, but there are no serious enough prerequisites for a long growth and trend reversal. Most likely, the cost of bitcoin will move in a sideways trend until it receives a serious impulse to rise in price or fall below, without finding the right demand at the currently designated support levels ($6,900 and $6,600).
It's likely we'll see some sustained growth. People have been coming out in support of Bitcoin and hinting at them buying into the markets again. Take for example, Dan Bilzerian who has a net worth of easily over 100 million:
http://bitcoinist.com/back-crypto-gambler-dan-bilzerian/Not only will this add a whale into the market, but it also brings people closer to the idea of reinvesting into Bitcoin because they see this man putting his money in as well. If the trend continues, there will be growth for the next few weeks, but there may be a few slow downs along the way.