Yesterday, the Bitcoin Monthly and Weekly candle has been closed, and this has been pretty positive (Is it?). First, we should discuss the monthly candle. For the last five months, Bitcoin has been continuously making green candles and this time it happened again.
But this time the difference was so that the price of Bitcoin went down and it was like a free fall. Last month, Bitcoin started at $ 33,092 and it reached its maximum price to the date @$60k plus, but then the price started to come down and the candle closed at 45,135. But then do you agree nothing can be said for sure in the crypto business, right?
As it closed with a big red candle, so panic was on the cards. Last week, Bitcoin started at $ 57,412 and after going up a little the price started to fall down continuously and it closed at 45,135. Bitcoin also touched the price of $43000, but today the price jumped again and the price is now trading close to $49,000 at the time of writing this post. But you never know, where would it be when I will publish it!
After a heavy bid in Bitcoin, the price of bitcoin is now projected to go up to $51,000. MMCRYPTO has shared a chart wherein they are thinking in terms of the price of bitcoin going upwards (I hope so too). But the best part is that Bitcoin has not gone below the support price of $43,000 but coming back up again, so the price might well go up to 50,000 sooner than later.
We are not so sure how many investors took advantage of this fallen price, but today micro strategy has once again invested in bitcoin. This information was given by none other than the founder of the company through a tweet in which he wrote, “MicroStrategy and 328 bitcoins- The purchase is worth $15 million with an average price of $45,710 per bitcoin. As of March 1, 2021, we have taken 90,859 bitcoins for $2.186 billion and now we have gained by $24,063 per bitcoin. MicroStrategy was also priced at $52,000 earlier. But bitcoin has been purchased. Now the price of bitcoin is near 48,000 i.e. today the company’s profit stands @$2290 per bitcoin for recent purchases.
Bitcoin price is going up again in the current week so far. But as I feel that I expect the price might go up and go down up to $51000 and then may dip to $40000 or even below, but that is crypto business for you (Do it on your own risk and capacity).
After the price goes down in the month of March, then bitcoin will go up again and that is pretty obvious by the trend of cryptocurrency. The answer is always YES?NN, it could go up or down. But if you the people believe in the crypto market, this is a perfect opportunity to buy bitcoin even at this price and make money in the coming months or even weeks.