Corrections are necessary and are vitamins for its bull run.
I am not surprised if Bitcoin has a big correction and fall down to about $52,000 to trigger a Long Squeeze before it rises up sharply to trigger a Short Squeeze and the bull run will continue to its discovery phase.
After that, we will see a parabolic phase for Bitcoin. Newbies will join more aggressively in Euphoria phase psychologically.
I really doubt if Bitcoin will be able to reach 52,000$ as it will be a big correction. Since the investors are buying Bitcoin
BTC for the long term through the ETF so they are not really interested to sell their bitcoins at cheap prices. So in this scenario when the demand is high and there are fewer bitcoins on exchanges, the chances of a big dump in the bitcoin market are very low. We should consider this when making any prediction for the March Bitcoin price at freebitco.
Most people are anticipating the price between 70,000$ to 80,000$ by the end of the match. This is 41% of the bets in this range and this can be seen on freebitco. The current price of Bitcoin is under 70K. There are still 15 more days for March to end but seeing the price under 70K for those who have placed the bet on over 70K, is not a nice figure for them.
It has become really hard to predict BTC price these days because of the large volatility.
Even if we think of a certain price then comes a sudden pump at the end of the week and we lose our bets.
But I guess that's the spirit of betting. I guess $80k - $100k is a good price range for this bet.