Summary:
- Bitcoin reached a new high of $28,900+ and remains stable between $27,000 and $28,000.
- It had a busy March with major fluctuations and a new annual low.
- The crypto did poorly over the weekend and predictions for the future are mixed.
The price of bitcoin remained strong in a week that saw it nearly reach $29,000. It had seen major upward and downward movements during the period, and emerging with nearly the same price it began with is a good sign.
Sometime in 28 March, the crypto had been selling for less than $27,000 but by the next day, it recovered before climbing to a new peak of $28,900+. Never has bitcoin been valued as high as this in the past six months!
March had been a busy month for crypto investors and traders as it tested them with a new annual low of a little over $20,000 at the beginning of its second week.
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It appears that the new stable price for bitcoin is between $27,000 and $28,000. The crypto has appreciated by over 41% since last October when it was struggling to push past the $19,000 price mark.
While the price of bitcoin is showing some semblance of stability when looked at for the past 30 days or so as a whole, it did poorly over the weekend, which marked the beginning of a new week. The crypto had been trading above $28,000 for a couple of days before gradually dropping to its new price of $27,800 on Monday.
The different predictions for the week include a report that the apex cryptocurrency could drop as low as $25,000 when the realities of bank failures, inflation, and crypto industry regulations hit.
A report from FXStreet claimed that BTC investors saw 72% return in the first quarter of 2023, which just ended. Meanwhile, March was responsible for 32% yield on its own. For the next quarter, investors are advised to approach deals with care.
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