Bitcoin continues its correction. Many members of the crypto community are confident that a “cooling off” period is necessary for BTC to gain strength for a further breakthrough.
We tell you what Bitcoin forecast is given by representatives of the crypto industry and what levels of cryptocurrency you should pay attention to.
What's happening with Bitcoin
At the beginning of the work week, Bitcoin continued its correction, which began on March 14, 2024, against the backdrop of the cryptocurrency updating its absolute maximum value (ATH) at $73,750. As of the time of writing, the coin is trading 7% below its peak. At the moment, the depth of the correction exceeded 12%.
Before the Bitcoin halving in 2024 – one of the most anticipated events – about 30 days left. Let us remind you that halving will halve the BTC mining speed, and therefore the rate of influx of new coins into the market. The history of observations shows that each time an event triggers a growth cycle for Bitcoin and the entire digital asset market. There is reason to believe that against the backdrop of the 2024 halving, BTC will also show positive dynamics.
Bitcoin forecast
Trader Doctor Profit believes healthy BTC movement is sideways. In his opinion, the cryptocurrency needs a period to accumulate strength for the next breakthrough. Next target for BTC trader thinks range $77-78 thousand.
Analyst Michael van de Popp in turn suggestedthat the Bitcoin correction is close to completion. At the same time he didn't rule it out movement to the area below $60 thousand until the next wave of growth.
Michael van de Popp used a green rectangle to indicate the expected target of the Bitcoin correction.
Bitcoin forecast from Michael van de Popp supported Trader Captain Faibik. He also believes that the target for BTC correction may be the level of $60 thousand. Similar forecast gave the trader Nebraskangooner. In his opinion, investors will soon be able to see BTC at $62 thousand.
Some members of the crypto community adhere to more negative scenarios, according to which the cryptocurrency could return to $55 thousand in the near future.
Crypto trader and analyst CrediBULL Crypto in turn supported positive outlook for bitcoin. He believes that the BTC correction may end before March 20. Afterwards, the analyst waits for the cryptocurrency to move towards updating the ATH.
The most positive forecast for Bitcoin was given by analyst Geert van Lagen. He considersthat BTC is on the verge of parabolic growth, which will allow the cryptocurrency to break through the $100,000 level in the near future.
Source: Cryptocurrency
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