March 10, 2020

Bitcoin Price Stabilization: Can We Talk About The Final Cessation Of The Fall?

The Bitcoin exchange rate continues to fluctuate. Investors’ interest in the most popular cryptocurrency does not subside. Financial experts give positive forecasts for the recovery of Bitcoin prices after a recent fall. But the question remains open: when to expect Bitcoin bull run?

Bitcoin rate “revived” in early March

In February, the fluctuation of Bitcoin seriously worried the participants of the cryptocurrency market. On February 20, the BTC price began to fall and crossed the line below 10 thousand US dollars. This situation caused a mixed reaction among investors. In early March, the most sought-after digital asset grew by 2% per month. Financial experts note that Bitcoin is now in an uncertain state, such fluctuations will continue in the future. Despite skeptical judgments, forecasts about an increase in the value of Bitcoin shortly remain stronger.

On Twitter, DonAlt analyst noted the following:

“Now the situation with Bitcoin has stabilized. The course is going up, not down. If the weekly rate closes below $ 8,750, we can watch the bearish price in the future. ”

Analysts are optimistic about the Bitcoin exchange rate, which was established in early March. Now the price is less subject to fluctuations than in February. Stabilization of the course can mark a confident step towards the growth of Bitcoin. Now the situation on the cryptocurrency market is very similar to the model of previous years when Bitcoin was activated in early March and maintained a high market value until July.

Investors also pay attention to digital currencies such as altcoins and ethereum. They showed themselves well in the previous month against the background of Bitcoin and are considered by investors as an advantageous direction for investments. Thus, we can conclude that the general mood in the cryptocurrency market continues to be positive.

What is the current situation in the cryptocurrency market?

The cryptocurrency market has seen positive changes. More recently, the Indian government has officially allowed financial institutions, banks to cooperate with cryptocurrency companies. This event has become one of the factors for rising Bitcoin prices.

It should also be noted the activation of Bitcoin mining. According to statistics, the volume of transactions increased on many cryptocurrency exchanges. We can already observe the growing interest of users in buying and selling Bitcoins. If we compare the data with the previous year, the Bitcoin mining activity is much higher for the current time period.

The interest of payment systems in including Bitcoins for payments is also growing. In particular, Ripple, VeChain offers favorable conditions for large players in the cryptocurrency market, trying to lure them to their side. Now we can see a situation where trading floors have paid great attention to digital assets.

The situation on the cryptocurrency market is “fueled” by the upcoming Bitcoin halving. Around the topic of halving the most popular digital currency over the past few months, disputes and forecasts have not ceased. How Bitcoin halving will affect the cryptocurrency community is not well known, but there is no doubt that this event will become a new branch in the development of digital currency.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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