Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predictions-by-five-renowned-crypto-analysts/" data-wpel-link="internal">Bitcoin Price Predictions by Five Renowned Crypto Analysts</a> 
<a href="https://coin-turk.com/5-farkli-dunyaca-unlu-kripto-para-yorumcusunun-tahminleri" data-wpel-link="internal">Bitcoin</a> could potentially experience a significant price correction, which may trigger losses exceeding 50% in altcoins. There are many signals suggesting that investors should be cautious, especially since a large portion of cryptocurrencies have not even seen an increase like <a href="https://coin-turk.com/sicak-gelisme-bitcoin-fiyati-52-816-dolar-ve-saylorun-yuzu-guluyor" data-wpel-link="internal">BTC</a>. Let’s discuss one of these signals today. 
<h2 id="will-bitcoin-fall">Will Bitcoin Fall?</h2> 
At the time of writing, the <a href="https://en.coin-turk.com/bitcoin-may-approaching-the-bottom-pay-attention-to-this-data/" data-wpel-link="internal">BTC</a> price rose back to the $71,500 region from just below $69,000. This short-term recovery is extremely important for altcoins that are performing well and could lead to new peaks. However, a detail most investors ignore is that the rate of profitable investors has almost reached 100%. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-327699 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-karliligi.webp" alt="" width="1536" height="460"> 
The profitability rate among BTC investors last reached 93.8% during the ATH period in November 2021, which was a lower level than today. After reaching the mentioned peak, the BTC price fluctuated significantly over the following five weeks. It dropped from $65,218 to $36,982, seeing a substantial decrease of 43.29%. 
This trend suggests that a significant number of investors may soon turn to profit-taking. The trigger for this trend of liquidating assets is likely to be the declaration of a local peak with closures below $68,000. 
<h2 id="bitcoin-predictions">Bitcoin Predictions</h2> 
The number of <a href="https://en.coin-turk.com/analyst-warns-of-potential-bitcoin-correction-before-new-highs/" data-wpel-link="internal">Bitcoin</a> addresses holding at least 1,000 BTC increased from 1,486 on January 13 to 1,592 on March 5. Today, the number has dropped to 1,579, already indicating that some large investors have started to convert to cash. Although we are above the January figure, the continuation of this decline could indicate that we have reached the peak and are now descending from it. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-327700 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/BTC-balinalari.webp" alt="" width="1536" height="864"> 
If you recall, I have been writing for the past 2-3 months that we have been climbing a peak in demand. At some point, this will become difficult to sustain, and the descent will be similarly rapid. At least past experiences remind us that the story of continuous, relentless climbing to the peak is not true. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-327701 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/bitcoin-duser-mi-.png" alt="" width="1918" height="780"> 
Technical indicators still point to a continuation of the rise. However, due to the reasons explained above, we might see the price direction turn downward before continuing on the ATH path and seeing new peaks. For this possibility to be triggered, we could see net outflows on ETF days or the pumping of bad news into the markets, which could be considered FUD. If the BTC price cannot maintain the $67,000 support, it could lead to a drop to $52,000. Conversely, we could see the price reach $76,000 and $80,000 if the scenario unfolds in advancing price regions. After all, none of us can see the future. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predictions-by-five-renowned-crypto-analysts/" data-wpel-link="internal">Bitcoin Price Predictions by Five Renowned Crypto Analysts</a></h5>

Bitcoin Price Predictions by Five Renowned Crypto Analysts

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