{"id":44197,"date":"2023-01-22T05:00:59","date_gmt":"2023-01-22T09:00:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44197"},"modified":"2023-01-24T02:13:31","modified_gmt":"2023-01-24T06:13:31","slug":"bitcoin-might-hit-25k-by-march-2023","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-might-hit-25k-by-march-2023\/","title":{"rendered":"Bitcoin Might Hit $25k By March 2023"},"content":{"rendered":"\n

The year 2022 was a very tough year for all cryptocurrencies, most especially Bitcoin. Bitcoin has lost nearly 65% of its market value in the entire year of 2022.<\/p>\n\n\n\n

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BITCOIN MIGHT HIT 25k$ BY MARCH 2023<\/figcaption><\/figure>\n\n\n\n

A series of unfortunate events such as the Terra Luna crash<\/a>, the fallout of the largest crypto exchange FTX, and the looming macroeconomic conditions caught crypto enthusiasts off guard.<\/p>\n\n\n\n

But several questions are hovering in the mind of crypto traders: what will happen next? Will Bitcoin ever rise again? Or, will it crash just like in 2022?<\/p>\n\n\n\n

Presently bitcoin\u2019s bullish recovery<\/a> in 2023 was witnessed last week by institutional buying pressure, casting doubt if BTC will rally beyond $25,000.<\/p>\n\n\n\n

Bitcoin Bullish View<\/h2>\n\n\n\n

Bitcoin has shown the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical indicators.<\/a> <\/p>\n\n\n\n

Presently, Bitcoin is currently trading within the levels of $20,500 and $21,200 with a positive change in its price since last week. At the time of the writing, the daily trading volume of bitcoin stands over $21 billion.<\/p>\n\n\n\n

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Experts believe that once Bitcoin crosses the crucial resistance level of $21,500 then it might aim to move upward toward another resistance level of $25,000 opening the doors for more bull runs<\/p>\n\n\n\n

Bitcoin can potentially hit $25,000 from its exit from a prevailing descending channel<\/a> range.<\/p>\n\n\n\n

Technical indicators<\/h2>\n\n\n\n

Notably, BTC\u2019s price broke out of the range late last week, accompanying a rise in its trading volumes. The cryptocurrency\u2019s move upside also pushed the price above its resistance confluence, comprising a psychological price ceiling of $20,000 and its 20-week exponential moving average (200-week EMA; the yellow wave) near $20,900.<\/p>\n\n\n\n

The price again picked up the pace and continued showing bullish signals until now.  Let\u2019s have a look at what picture technical indicators are depicting as of now:<\/p>\n\n\n\n

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Breaking three resistance levels with substantial volumes shows traders\u2019 conviction about an extended price rally. Should it happen, Bitcoin\u2019s next upside target appears at its 200-week EMA (the yellow wave) at around $25,000 \u2014 a 20% rise from current price levels.<\/p>\n\n\n\n