Forecasts for Bitcoin and Ethereum from Bitget analyst
The post Forecasts for Bitcoin and Ethereum from Bitget analyst appeared on BitcoinEthereumNews.com. The chief analyst of Bitget Research, Ryan Lee, made a couple of predictions for March 2024 on Bitcoin and Ethereum. These are analyses that take into consideration the global context and the possible evolution of the price of the two main cryptocurrencies, BTC and ETH, during the current month. Bitget: Bitcoin forecasts Lee points out that on February 27th a new upward movement cycle started on the price of Bitcoin, with the surpassing of the previous annual high at $57,000. Furthermore, the daily trading volume of BTC has risen to around 80 billion dollars on spot markets, while the nine Bitcoin ETFs in the USA have reached a new all-time high trading volume of 3.2 billion dollars. The fact is that institutional sentiment is bullish and strong, and there are only about fifty days left before the halving. In addition, there are also expectations of an interest rate cut by the Fed around mid-year. Lee comes to the conclusion that Bitcoin has found support at $50,000, and that in March the volatility could remain high enough to potentially allow it to challenge historical highs. In fact, the highest price ever reached by BTC in dollars was $69,000 on November 10, 2021, and currently according to Lee himself the upper resistance would be between $60,000 and precisely the fateful $69,000, with the lower support between $48,000 and $52,000. The key level therefore is precisely $69,000, which is both the current maximum upper resistance and the all-time high of 2021. Since volatility is expected to remain high even in March, a jump from current levels to $69,000 seems within reach for BTC. The forecast on Ethereum Lee highlights how the current price of ETH is a bit weaker compared to BTC, but it is gradually picking up speed. The ETH/BTC exchange rate…
The post Forecasts for Bitcoin and Ethereum from Bitget analyst appeared on BitcoinEthereumNews.com.
The chief analyst of Bitget Research, Ryan Lee, made a couple of predictions for March 2024 on Bitcoin and Ethereum. These are analyses that take into consideration the global context and the possible evolution of the price of the two main cryptocurrencies, BTC and ETH, during the current month. Bitget: Bitcoin forecasts Lee points out that on February 27th a new upward movement cycle started on the price of Bitcoin, with the surpassing of the previous annual high at $57,000. Furthermore, the daily trading volume of BTC has risen to around 80 billion dollars on spot markets, while the nine Bitcoin ETFs in the USA have reached a new all-time high trading volume of 3.2 billion dollars. The fact is that institutional sentiment is bullish and strong, and there are only about fifty days left before the halving. In addition, there are also expectations of an interest rate cut by the Fed around mid-year. Lee comes to the conclusion that Bitcoin has found support at $50,000, and that in March the volatility could remain high enough to potentially allow it to challenge historical highs. In fact, the highest price ever reached by BTC in dollars was $69,000 on November 10, 2021, and currently according to Lee himself the upper resistance would be between $60,000 and precisely the fateful $69,000, with the lower support between $48,000 and $52,000. The key level therefore is precisely $69,000, which is both the current maximum upper resistance and the all-time high of 2021. Since volatility is expected to remain high even in March, a jump from current levels to $69,000 seems within reach for BTC. The forecast on Ethereum Lee highlights how the current price of ETH is a bit weaker compared to BTC, but it is gradually picking up speed. The ETH/BTC exchange rate…
