Bitcoin (BTC) Price To Hit ATH In March! But A Major Pullback Is Inevitable? 

The post Bitcoin (BTC) Price To Hit ATH In March! But A Major Pullback Is Inevitable?  appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The coin market has been waking up to varied opinions and market assumptions of folks from the business. The metrics such as on-chain data, price movements, sentiments, and investments have been dubious off-late. While some have been bullish, others have been weighing heavier on the side of the bears.

Successively, the master of the business, Bitcoin has been signaling mixed indications. That has been seeking the interest of savvies from the industry. The metrics of the digital asset have persuaded traders to pin bullish hopes for the short-term, and bearish for the mid-term. In addition, a proponent from the industry looks forward to BTC claiming its ATH in March.

Is Bitcoin Burning The Midnight Oil For A Catapulting Flight?  

The star crypto has been sailing the high tides for a brief time now. Bitcoin has been under correction for over 80 days and is just a couple of days short of bearing the brunt for a quarter. A lot of investors who have bought BTC as a hedge against inflation have been lashing digital assets. As many have lost funds tallying to highs of 50%, instead of losing a mere 7% in FIAT.

Accordingly, BTC has been range-bound to levels around $30,000 as many still wish to buy at the current zone. Consecutively, the smart money has been waiting for the sell-offs to cease, before taking in charge of the price movements.

Coming to metrics, the open interest is up, with heavy asks on exchanges. While the funding rate has been negative alongside the low/short ratio is down. Which has persuaded the partisans to be bullish short-term and long-term, whilst being bearish for the mid-term. Consecutively, traders are now looking forward to the $40,000 target that also remains the psychological barrier. Post which a pull-back could follow, prior to a bull run.

The first month of the year has closed on $38k levels and is a good note to start the new month with. A proponent from the business cites that the month of February could start with a retest and would close above $47,000, followed by an ATH in the month of March. The words coming in from the protagonist have been the talk of interest to the masses. 

Summing up, Bitcoin despite being the 4th most oversold in its history according to dormant flow. 76% of the digital asset’s supply is currently held by stronger hands, which is a multi-year high. Moreover, the current levels could possibly be the best entry zone for hodlers. In contrast, traders are now getting over the FUD prevailing from FED and America Competes bill. Considering the number of investors and traders around the globe. Which has been backing support for novices in the business.