Bitcoin price has begun to attract eyeballs once again! After a market slump which lasted for over a year, cryptocurrency markets are beginning to get green once again! Bitcoin price appears to be recovering as cryptocurrency volumes continue to record a new high every day!
Let us take a closer look at the crypto markets and understand the direction that BTC price is expected to take over the days to follow:
Bitcoin Price to Boom? Some Key Factors
Analysts and professional crypto traders expect the markets to boom anytime now! This is because volumes of trade are increasing. They have almost doubled up when compared to the all-time low of last year. At their lowest point in 2018, cryptocurrencies worth just $6 Billion were traded over the 24-hour period. However, the last 24 hours saw a trade of over $14 Billion.
Total Market Cap has the most buying volume since the last week of 2017. Don't think we have ever seen 4 straight weekly bars with that much buying volume. Tells me we are in for a strong bounce & that there will be immense selling pressure if we breakdown support. $BTC $ALTS pic.twitter.com/gbjPZQYVyB
— Tyler D. Coates (@Sawcruhteez) March 9, 2019
Total market capital has now witnessed the highest growth since late 2017 when Bitcoin was just beyond $10,000. This indicates that the markets are feeling positive and a bull-run is right around the corner!
Bitcoin Price Prediction for March 2019
If this positive sentiment continues, $BTC price is going to get a bullish momentum any time now. The first target for Bitcoin price in March should be breaking past the $4,000 price point. If that happens, the next should be close to $4,720-$4-7,50. Upon crossing that, $6,000 too, is possible.
A reasonable prediction for March 2019 for BTC price, however, would be in the range of $4,200-$4,600. However, one thing is certain – the crypto winter appears to be fading away!