It’s been a hazy will the year for bitcoin, but here comes sunlight. After shedding $119 billion-plus from the market cap in Q1 amid pressure from regulators along with the cold shoulder from advertising platforms, the bitcoin prices are ready to get a rebound. Plus it appears the stars have started to align to the to take place in the second quarter. CNBC’s Brian Kelly outlined the drivers in the bitcoin price for the new quarter, and we’ve included with them.

US Tax Season’s Nearly Over
April 15 marks no more tax season in the usa, and it’s just around the corner. Investors who profited from bitcoin’s massive rally in December are receiving to come up with the money to cover The government now, which may explain a percentage in the selling pressure inside the bitcoin price in March. Kelly noted that any “tax-related selling” that’s been happening in March will probably end in the nothing but per week. (Separately, Kelly also noted that the blockbuster $2 billion Telegram ICO may have attracted investments from BTC.)

Coincheck Deal in Sight
As CCN previously reported, Japan’s Coincheck may be on the market. It’s not only available for sale however the potential buyer, online brokerage Monex Group, will be the parent company of US-based TradeStation (with massive data and charting capabilities) and is publicly traded.

“It’s a huge confidence boost; an individual has a regulated public company in Japan buying into a crypto exchange,” Brian Kelly, CEO of BK Capital Management, told CNBC.

Kelly added that “massive, massive sentiment shift.”

History Is on Bitcoin’s Side
Until you were looking to purchase the dip, March was hard to watch out for bitcoin investors. But however the bitcoin price suffered, the performance only proves that history repeats itself. March is historically a dismal month for the leading cryptocurrency, “rising merely one with the last seven years [in 2013],” depending on Fundstrat data.

That’s very good news for April because historically, this can be among the best trading months to the bitcoin price, “rising five from the last seven years,” Fundstrat says.

Other Tailwinds
The forces for bitcoin are stronger as opposed to forces against it. While these three drivers of the bitcoin price appear imminent, there can be others. For instance, major bitcoin markets around the world such as the U . s . are awaiting a regulatory framework to adopt fit around make uncertainty from the equation, among some other reasons. It may be the catalyst the cryptocurrency markets have to drive them too much.

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