Bitcoin, after surging through the first couple of months of the year,  has lost momentum in March.

The bitcoin price, up almost 500% since its latest bull run began in October,  climbed to an all-time high of just over $60,000 per bitcoin this monthbut has stopped breaking fresh ground with the regularity it did through January and early February.

Now, with historical bitcoin price data showing March losses are often followed by an April rally, bitcoin traders and investors  are feeling upbeat.

&ldquo As with any month, the potential price prospects of bitcoin can be split into a number of different thought processes,&rdquo says Danny Scott, the chief executive of the Isle of Man-based bitcoin and cryptocurrency exchange CoinCorner, speaking via Twitter DM.

&ldquo Time of the year can be a factor and the month of April is always highlighted, as it&rsquo s the end of the U.K. and U.S. tax year,&rdquo Scott says, adding that &ldquo taking history into account, it very well may stack up.&rdquo

Analysis of price data over the last ten years reveals a 51% average gain for bitcoin in April, according to Scott. If this plays out, this would mean bitcoin ends April 2021 at just over $80,000.

&ldquo There have only been two negative Aprils since bitcoin began&mdash in 2014 (-6%) and 2015 (-4%)&mdash which is tied coincidentally with the following month of May with only two negative months&mdash 2015 (-1%) and 2018 (-18%)&mdash so maybe there is some momentum and truth from this.&rdquo

Scott also notes that these negative Aprils and Mays came during bitcoin bear markets and &ldquo current industry sentiment&rdquo should be factored in.

At the moment we&rsquo re very much in a bull period with consistent momentum building each week,&rdquo Scott says, pointing to high-profile billionaires like  Tesla&rsquo s Elon Musk and Twitter&rsquo s Jack Dorsey giving bitcoin their backing,  Wall Street giants rolling out bitcoin services, and countries around the world  continuing to flood the system with freshly-printed cash.