Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-dynamics-and-analyst-predictions/" data-wpel-link="internal">Bitcoin’s Price Dynamics and Analyst Predictions</a> 
In the early hours of Monday, March 4th, <a href="https://coin-turk.com/spot-bitcoin-etf-ne-zaman-onaylanacak-alaninda-uzman-isimler-cevaplandirdi" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/iddia-bitcoin-2020de-tum-zamanlarin-rekorunu-gorecek" data-wpel-link="internal">BTC</a>) once again left the $64,000 mark behind, but it could not maintain this level and the price fell again. As of the time of writing, it is trading with a 2.75% increase at $63,700 and its market value has risen to $1.253 billion. According to data provided by CoinGlass, total liquidations in <a href="https://en.coin-turk.com/bitcoins-rise-reasons-and-expectations/" data-wpel-link="internal">Bitcoin</a> amounted to $440,000 in the last 24 hours. 
<h2 style="text-align: justify" id="bitcoin-btc-critical-levels">Bitcoin (BTC) Critical Levels</h2> 
According to statements by the frequently mentioned analyst Ali Martinez, the Bitcoin (<a href="https://en.coin-turk.com/tesla-sold-its-bitcoin-the-cryptocurrency-market-has-been-eagerly-awaiting-this-report/" data-wpel-link="internal">BTC</a>) market has witnessed significant price movements between visible levels. Martinez notes that over 500,000 BTC have been traded within the $61,100 to $61,800 range, indicating this level as a crucial support for the cryptocurrency. 
Martinez also mentioned that if Bitcoin manages to stay above this support, it could continue its move towards $65,900 and might encounter resistance around this level. 
On the other hand, Martinez pointed out the potential for a downward movement for BTC. He mentioned that if the price movement slows down and falls below the determined support level, the price could potentially retreat to $56,970 or even to $51,500. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-322512" src="https://coin-turk.com/wp-content/uploads/2024/03/51-500-coin-turk-com.jpg" alt="" width="727" height="433"> 
<h2 style="text-align: justify" id="btc-price-target">BTC Price Target</h2> 
Known for his Bitcoin analyses, Will Woo points to an optimistic outlook for the price of Bitcoin (BTC), suggesting that under certain scenarios, BTC could surpass $125,000 before the end of 2025. 
Woo’s analysis draws strength from the assumption that investment giants Blackrock and Fidelity could allocate a relatively small 3% of their clients’ portfolios to Bitcoin. 
According to Woo’s calculations, if Blackrock, with total assets of $9.1 trillion, and Fidelity, with assets of $4.2 trillion, allocate 3% to Bitcoin, the resulting investment could have a significant impact on Bitcoin’s price. 
Despite this calculation representing only a small fraction of the total global money supply, which is approximately $500 trillion, Woo believes that significant inflows into Bitcoin supported by major asset managers like Blackrock and Fidelity could change the price. Considering Bitcoin’s current price level of $63,700 at the time of writing, Woo’s target would require the price to double. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-dynamics-and-analyst-predictions/" data-wpel-link="internal">Bitcoin’s Price Dynamics and Analyst Predictions</a></h5>

Bitcoin’s Price Dynamics and Analyst Predictions

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