Bitcoin's March Surge: Bullish Trends and Upside Potential
1min read Bitcoin's March Outlook: Bullish Patterns and Upside Potential
As March begins, Bitcoin has successfully closed February above the $80,000 price mark, sparking optimism among key figures in the crypto community. Observing several positive trends, analysts have expressed their bullish expectations for the apex cryptocurrency in the coming month.
Pseudonymous crypto trader and investor DaanCrypto highlights Bitcoin's potential for a full comeback, stating that the upside potential will be more attractive to sidelined capital. With Bitcoin at $80K, the risk/reward ratio is notably promising, as assets are 20% cheaper. Long-term holders are expected to increase their investments, while a new entry point opens up for newbies.
Analyst Miles Deutscher affirms the bullish sentiments, reminding the market that March has historically been an excellent month for Bitcoin. The asset typically averages a 13.12% gain around this time, making it the third strongest month of the year after October and November.
After sustaining heavy losses on February 28, Bitcoin has since recovered and is trading at a press time price of $85,412, a few thousand dollars away from its all-time high of $109,114. The asset has successfully secured 10% in daily gains, with daily trading volume soaring up by 193.33%.
