Bitcoin Enters Historically Strong Quarter With 3% Price Gain

Bitcoin kicked off the historically strong second quarter on a positive note, scoring gains overnight despite further losses on Wall Street. The top cryptocurrency by market value rose 3.5 percent from $6,420 to $6,650, having closed Q1 2020 with a 10 percent loss, according to CoinDesk's Bitcoin Price Index.

Bitcoin printing gains amid the risk-off action in traditional markets is a welcome change for observers who believe the cryptocurrency is a haven asset like gold. Daily chart Bitcoin has created a pennant pattern on the daily chart, which comprises of trendlines connecting higher lows and lower highs.

Timeline of Bitcoin