To predict and analyze Bitcoin Prices, we will have to look at the previous history and market opinions to come up with a Bitcoin Price prediction for March 2020. The price of Bitcoin was around $9,200 in January this year and it quickly increased to around $10,100 by the second week of February. The price of Bitcoin had apparent corrections in the last one or two weeks. The price of Bitcoin was struggling to maintain itself above the $10,000 mark. The price of Bitcoin continued to trade between $9,500 and $9,700 with a slight increase to reach $9,850 level by the end of February.
Prediction and analysis of Bitcoin in March 2020:
Looking back at the price pattern of Bitcoins from early 2019, it seems there is going to be a massive price fall which will bring the price of Bitcoin below the $9,000 mark, as the historical record points towards investors’ sell-off sentiment.
During the last few days, there has not been any significant news about Bitcoin Developments and projects. As Bitcoin is accepted worldwide there is no need to worry much about this. However, quite a lot of other projects are in progress at the moment. A lot of investors and analysts have predicted their prices of Bitcoins in different sites for March 2020. After a long forecast, analysts had stated that the price of Bitcoin would reach around $11.500, while the lowest price would be around $8,900. This month’s average price was predicted to be around $10,300.
As the halving event is nearing, there is a lot of enthusiasm to know what’s going to happen. Since the Bitcoin touched the $10,000 mark, the analysts have been giving positive predictions stating that the price of Bitcoin may go up even further. After the halving event which is going to happen in May 2020, the Bitcoin prices may go up even further and give huge returns. Bitcoin is the only currency that has received attention, awareness, and acceptance throughout the world. This currency is being accepted by companies and payment gateways all over the world.
The price prediction of Bitcoins is to know how Bitcoin will perform in the coming few days. The future value predictions of Bitcoin can be determined by doing thorough research. The realistic prediction of Bitcoin price is done by going through the historical records, depending on the volatility of the market.
As the market seems to be very volatile, we should seek the help of market experts, who have been the main source of the crypto market. Tom Lee, in one of his statements, said that after the halving event which is going to happen in May 2020, Bitcoin will deliver enormous returns to its investors this year. He stated that the price of Bitcoin will reach its peak by the end of this year to around $27,000. By 2022, it is expected that the price of Bitcoin will increase to more than $31,000, given the growth remain stable.