I really doubt if Bitcoin will be able to reach 52,000$ as it will be a big correction. Since the investors are buying BitcoinBTC 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.
I know it is a big correction but if the market repeats itself, history shows its rhythm, we will see that correction. Basically the market before a big bull run, needs to have a massive clean up and what will be better than a big correction?
Bitcoin Spot ETFs create their products, sell their products and they bring massive capital to Bitcoin market but it does not mean they will buy forever, without cooling down time.
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.
Think!
If Bitcoin market moves like most of gamblers, investors, traders think, it will not give market makers biggest profit.
I don't say Bitcoin must hit $52,000 to continue its bull run but it's one of scenarios I thought of. Let's wait and check out the market.