The bitcoin currency continued its limited rise during this week, with weak demand for buying the largest cryptocurrency in the world, in light of the anticipation of investors and warning them of the return of the broad sell-off witnessed in the currency in the month of March, which could expose the bitcoin to a very strong blow, and the bitcoin achieved today a rise By about 3.27% to trade at $6451.0.
At the end of last week Bitcoin fell below the $6000 level but quickly managed to rise maintaining the psychological support level of 6000, although it was not able to break the $ 7000 level, it is still a big challenge for Bitcoin.
March has been incredibly turbulent for the crypto and traditional markets, with the exception of last week which was a throwback to the crashes that have occurred, which may reflect a general sense of optimism among investors encouraging them to invest in risky assets over the coming weeks.
Where will bitcoin go next?
The Bitcoin halving is set to happen in May, and it's probably the most anticipated event in the crypto industry XM Arabia For a long time, and with the world currently passing through a very uncertain and unexpected time, many traders in the cryptocurrency industry want to know where Bitcoin will go next, at the same time that the Corona virus is expanding its spread at an alarming rate and the worst economic damage since 1929 This is what worries many investors about what will happen to their favorite cryptocurrency.
On March 12, Bitcoin had a very severe crash and then continued its decline which took the entire market down. Many people are curious to know the bottom of Bitcoin, one analyst said at the time that the bottom of the leading cryptocurrency was at $3,850.
It is hard to say if Bitcoin is down now as the $3850 price was a very promising and rare opportunity, within two weeks the price managed to nearly double to trade around the $6,500 level.
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