The first crypto coin showed growth for the first time since March 3. What will happen next?
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the BTC price hit a new high since the beginning of the month
Today, the BTC price hit a new high since the beginning of the month, breaking the $43,300 mark, according to Binance data. However, then the bitcoin rate corrected to $42,100. At the time of publication, the price of bitcoin is around $42,600.
According to Glassnode analysts, the key buying pressure comes from American and European users. But buyers from Asia mainly sell bitcoins.
Famous coin growth in 24 hours
Over the past 24 hours, popular altcoins have also shown growth. The value of ETH increased by 4% to $2,900. The total capitalization of the crypto market increased by 3% and reached $1.9 trillion.
CoinGlass noted that in 24 hours, the total volume of liquidations of margin positions of traders reached $169 million.
8848 Invest Lead Analyst Viktor Pershikov believes that in the near future powerful directional movements in the crypto market will be demonstrated as a result of long-term accumulation of volumes and attention to the most capitalized digital financial assets.
Previously, the main cryptocurrency was in a similar flat in May-July 2021, after which it rose in price and updated all-time highs. Now a similar situation is being created.
According to the analyst's forecast, before the end of March, BTC may begin to exit the sideways trend. The expert suggested that Bitcoin will aim for $55,000.
Viktor Pershikov allowed a local “provocation” of market participants, who, according to Santiment, are inspired by the likelihood of growth in the near future and are actively buying bitcoins and other crypto assets, hoping for a new round of price increases.
This “provocation” may become a prerequisite for sharp attempts at the BTC price to approach the lower limit of the flat (for Bitcoin, this is the mark of $32,000), but even a decline to new lows will not lead to a collapse. The analyst emphasized that digital assets have every chance of growth in 2022