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- 1 The BTC crypto trades higher above a round level of $65,000 on Monday.
- 2 At press time, Bitcoin crypto was trading close to $65,210, registering an intraday rise of nearly 3.2%.
Bitcoin is on the way to hit a record high after a firm footing at the $60,000 mark. The crypto is on a steady rise with the price soaring at an unprecedented level.
The BTC price has crossed a milestone of $60K and is trading near a multi year peak value of $65K Intraday. The ATH is merely 4.8% higher from the CMP at $68,789 which was hit 2 years ago.
Looking back into history, the digital currency BTC has outperformed several global fiat currencies. Despite its achievement, Bitcoin is yet to surpass its highest value of $68,789 which was registered in November 2021.
At the time of writing, the BTC crypto was trading close to $65.2 K with an intraday increment of 3.2%. The market leader has a live market capitalization of 1.280 Trillion USD. It has a circulating supply of 19.644 Million BTC against a total supply of 21 Million BTC tokens.
IBitcoin Crypto Volume Analysis
The volume analysis shows that BTC crypto has received nearly $45.8 Billion volume in the past 24 hours with an increment of 95.2% as compared to the previous day.
The current price rise is backed by a massive rise in volume indicating the strength in the trend. Moreover, the volume to market cap ratio is 3.45% indicating low volatility in the crypto.
Bitcoin Crypto Indicator Analysis
The technical indicators imply a bullish outlook above the 20, 50 and 200-Day EMAs. The EMAs are acting as dynamic support for the BTC crypto as the price took a rebound after retracing it.
At the time of writing, the RSI line was placed at 83.65 points and that of the SMA line was placed at 76.5 points. Both the RSI and SMA lines were placed above the mean line, indicating a bullish trend prevailing.
Bitcoin Price Prediction For March 2024
Bitcoin price exhibits a strong bullish outlook in the short term and is headed to smash the all time high value. The buyers are in control of the trend. The short term traders and investors may target higher levels of $70 K which is the next psychological level.
Also, the bearish view of our analysts hopes the price to break below the $60K level after which more downside levels of $57K and $55K may be observed.
Bitcoin Price Prediction for 2024
The price prediction for 2024 shows that the BTC token may advance to a high of $91.18 K by the end of year 2024. On the contrary, the less optimistic view of our analysts expects the price to reach $79.5 K by the end of 2024.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
