Bitcoin price continues to decline on a monthly and yearly basis while showing a slight recovery. This is causing many investors to worry about what levels the biggest cryptocurrency by market cap could see. As Kriptokoin.com, we are reporting what is expected for the price for March…
What is the prediction of the traders?
After the price of Bitcoin plunged below $40,000, a cryptocurrency community is placing the asset’s next target at almost $50,000 by the end of March. Although the Bitcoin price has been quite volatile in recent days, the CoinMarketCap community believes the asset will trade at $48,145, up almost 20 percent from its current price. The target is based on the votes of 83,489 members. On the other hand, 53,098 community members set the target as $48,985 by the end of April.
This price mark represents almost 26 percent growth from current value. However, he believes that by the end of March, 34,044 Bitcoins will be trading at $46,958. The prediction comes out after Bitcoin hits over $40,000 in March. However, the first week of the month has been quite volatile for the asset, whose price action is associated with struggling stocks. While the community remains bullish on the future of Bitcoin, there are concerns among investors about the next trajectory of the asset. Bitcoin fear and greed index has reached 21.
Rekt Capital: Bitcoin can rise to $51,000
Meanwhile, according to analyst named Rekt Capital, Bitcoin is trying to revive itself from a few-month downtrend and start a new bull run. It signals that it is ready. Rekt Capital says that Bitcoin is no longer in a downtrend, but in the midst of a bounce from a strong macro support level.
If BTC holds $38,000 and this critical level remains as support, the analyst says a rally around $51,000 could be seen in the next area. If all goes well, the analyst says that Bitcoin could be on track to repeat last week’s rally, rising by about 20 percent to $45,000.
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