Bitcoin gained 36.85% last month and is expected to reach $79,502 by March 30, 2024

Today's price of bitcoin is $70,634, up 5.50% from the previous day's close. The coin performed better than the cryptocurrency market, which saw a 3.40% increase in market capitalization over the same time period.

As per our forecast, the value of Bitcoin is anticipated to attain $79,502 by March 30, 2024. Over the next five days, this would equate to a 12.52% increase in the price of Bitcoin.

Recently, there has been a favourable trend in Bitcoin, as the coin has gained 36.85% in the last 30 days. With a gain of 64.52% over the last three months, Bitcoin's medium-term trend has been optimistic. Given that the price of Bitcoin has changed by 153.12% in the last year, the long-term outlook is favourable. Last year on this day, the price of Bitcoin was $27,906.

On March 14, 2024, the price of bitcoin reached its highest point ever—$73,628. The top point of the current Bitcoin cycle is $71,504, and the low point is $60,942. Recently, Bitcoin has seen little volatility; its one-month volatility is 6.78. In the previous 30 days, Bitcoin has had 18 green days.

Right now, there is a bullish sentiment in the Bitcoin markets, and the Fear & Greed Index shows extreme greed. The main resistance levels are $71,733, $73,565, and $76,199, while the most crucial support levels to keep an eye on are $67,267, $64,633, and $62,801.

Currently, 28 indications point to an optimistic prediction for Bitcoin, compared to 2 that indicate a bearish one. 93% of the signs point to a successful forecast. As a result, there is general optimism about Bitcoin.

The Fear & Greed Index is currently at 81 (Extreme Greed), indicating that investors are optimistic about the state of the market. An indicator of investor mood in cryptocurrencies is the Fear & Greed Index. Although a "greed" reading might sometimes mean that the market is overpriced, it also implies that investors are now upbeat about the bitcoin industry. Conversely, a fear reading indicates that investors are presently wary of the bitcoin market, which may present a purchasing opportunity.

Let's examine the data being reported by some of the most significant technical indicators. We will go over the primary oscillators and moving averages to help us understand how Bitcoin is positioned in the market right now.

One popular indicator that tells investors if an asset is currently overbought or oversold is the Relative Strength Index (RSI 14). At 59.49, the Bitcoin RSI 14 indicates that the cryptocurrency is currently neutral.

The closing price of Bitcoin over the previous 50 days is taken into consideration by the 50-day simple moving average (SMA 50). A negative indication indicates that the 50 SMA trendline is currently being traded below by Bitcoin.

The 200-day simple moving average (200 SMA), on the other hand, is a long-term trendline that is determined by averaging the closing price of bitcoin over the previous 200 days. As of right now, Bitcoin is trading below the 200 SMA, indicating a bearish market.

We may infer that the current Bitcoin price prediction is bullish after taking the aforementioned elements into account. In the following five days, we anticipate that BTC will increase by 12.52% to reach our goal of $79,502.

It will be crucial to keep an eye on major support and resistance levels, other measures, and the mood of the Bitcoin market moving forward. But it's important to remember that even the biggest cryptocurrency assets have highly volatile prices, and that cryptocurrency markets can be unpredictable. Click this link for long-term Bitcoin price forecasts.

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