Vxx is the short term futures of VIX. VIX is just an index. so if the fear is in April. then VXX will spike, regardless what VIX is doing today. but if VIX doesn't spike by mid april. the VXX will crash and then roll over to MAY or June. so do you think traders are have fear in april, if the answer is yes, then load up on VXX now. but if the market goes flat and no fear in April, then the contango will eat up the value like an option time decay. thats all.