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.
Yes, the corrections are necessary for a healthy bull market otherwise the span of the bull market will be very small and no one among us wants this. We need a long bull market where Bitcoin reaches new highs beyond imagination.
However here we are only talking about the freebitco bitcoin price prediction in March 2024 and it seems that many people may lose their bet if this correction lasts for over two weeks or so.
If these corrections are completed quickly and Bitcoin is again over 70K before the end of March, then most people who bet for over 70K will have a sign of relief.
In the long term, no doubt Bitcoin will be priced much higher as compared to its current price.