•The price of Bitcoin is currently hovering around the $25,000 mark as buyers have attempted to break through resistance twice.
•CEO of Galaxy Digital Michael Novogratz predicts that Bitcoin could reach $30,000 or more before the end of March.
•If Bitcoin fails to break its recent high, its risk will decrease and the asset will remain below $25,000.
Bitcoin Price Holds Steady at $25K
Bitcoin’s price is currently hovering around the $25,000 mark as buyers have attempted to break through resistance twice. Despite being rebuffed at a high of $25,234 on February 16th and again at a high of $25,209, sellers have kept the price above the resistance level. If Bitcoin fails to break its recent high, its risk will decrease and the asset will remain below this level.
Prediction for Price Increase
The CEO of Galaxy Digital Holdings Michael Novogratz has predicted that Bitcoin could reach $30,000 or more before the end of March. This increase in price has been attributed to a slowdown in US inflation which may last until then.
Historical Price Level Analysis
A look into BTC/USD’s past performance reveals that after being rejected at its most recent high on August 15th 2022, it decreased from a high of $25k to just above support at $16k. At present one Bitcoin is priced at 24472 USD according to Coinmarketcap rankings.
Risk vs Reward
As with any investment there is always an element of risk versus reward inherent in trading cryptocurrencies such as Bitcoin; however those who manage their risks effectively can make rewards much higher than other traditional investments such as stocks and bonds etc.,
It appears that despite some market volatility surrounding Bitcoin right now due its challenging attempts to breach 25K USD levels; analysts are still predicting it reaching 30k USD by end of March 2023 which could lead to further bullish sentiment on crypto markets across board – for individuals looking for safer investment opportunities bitcoin remains an attractive option given its low correlation with other assets compared to stocks & commodities