Bitcoin (BTC) continues to trade in a narrow range from $43,000 to $45,000. On Thursday, March 3, the BTC rate sank to $43,176, but many analysts predict that the coin will be able to win back losses very soon.
Optimistic, for example, the CEO of deVere Group Nigel Green. In his opinion, an important event will be the fixing of bitcoin above $44,000.
If BTC breaks the resistance in this area and does not retreat, then the next important milestone before reaching $50,000 will be $45,000. Geopolitical tensions are one of the factors stimulating the growth of the cryptocurrency value, the businessman believes.
Many investors are looking for alternative instruments, and Bitcoin is becoming the best option for them.
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Green said: "I believe that Bitcoin will be able to reach $50,000 by the end of this month. However, it is still difficult to say whether it will be able to repeat its November run."
The entry of institutional investors into the industry is still one of the growth drivers of the cryptocurrency market.
The volatility of bitcoin is weakening, which is positively reflected in its attractiveness, as this asset becomes more mature in the eyes of financial companies and hedge funds.