Bitcoin Price Climbs to $28,300 -Will $29,000 Arrive Before Easter?

Bitcoin has remained above the $28k price level, currently trading at $28.6k. The recent surge shows that the bulls are back in control. BTC Price increased from March 17, 2023, to $27k, and it traded within that price range till March 29, when it closed at $28,348.

It has recorded over a 3% increase in its price within 24 hours, while its trading volume has increased by 7.64%.

Bitcoin Price Prediction With Technical Indicators 

Bitcoin has formed a third consecutive green candle on the chart today, consolidating its previous gains. It is trading above its 50-day and 200-day Simple Moving Average (SMA), a bullish signal for the asset.

The Relative Strength Index (RSI) is at 65.18, close to the overbought region of 70. The indicator is rising and signals the possibility of further price increases for BTC.

Bitcoin’s Moving Average Convergence/Divergence (MACD) is above its signal line and showing positive values confirming the bullish trend. However, the MACD shows convergence with the signal line hinting at a possible retracement ahead.

BTC’s Support And Resistance Levels

Bitcoin’s support levels are $16,337, $19,589, $21,376, and $25,270; resistance levels are $29,309, $32,410, and $38393. BTC is currently trading at the $28.6k price level. Its technical indicators are currently bullish. Expect a possible increase to $29k within the next few days. 

Bitcoin Long-Term Price Prediction

Experts have compiled price predictions for the apex cryptocurrency based on technical indicators in the long run.

Bitcoin Price Prediction 2023

Changelly predicts that BTC will trade at a maximum of $34,912, a minimum of $30,353, and an average of $31,239 in 2023. Software Testing is bullish on Bitcoin, predicting a maximum price of $64,734, a minimum of $53,038, and an average of $50,000 in 2023.

Bitcoin Price Prediction 2025

Coinpedia predicts BTC’s price to trade at a maximum of  $124,857, a minimum of  $85,556, and an average of $95,298 in 2025. CryptonewZ predicts a maximum of $86,387 and a minimum of $56,555 by 2025. 

Bitcoin Price Prediction 2030

Bitcoin predictions for 2030 are bullish as analysts believe there will be greater adoption of BTC across different spheres. Bitnation predicts a maximum of $251,933, a minimum of $234,756, and an average of $243,344 by 2030. 

Business2Community predicts bitcoin will trade at $150,000 in 2030. Also, they believe that $1 million is a possibility in the future for the asset.

Factors Affecting Bitcoin’s Price

Several factors in the crypto community and Bitcoin network developments could drive the current price surge. Here are the top trends and events on the BTC network and beyond.

The Number Of Bitcoin Addresses Increasing

Santiment, an on-chain analytics platform, reports increasing addresses holding 10 BTC and above. According to the report, the addresses increased by 10,279 since February 2022, representing a 7.1% increase. This reflects the bullish sentiment for BTC, as its market dominance is currently at 46.63%.

🦈🐳 Since February '22, the amount of addresses holding 10+ #Bitcoin has ballooned by 10,279, a +7.1% increase. The overall percentage of available $BTC held by these wallets is rather stagnant, but the amount is closing in on the Sep, 2019 #AllTimeHigh. https://t.co/LdyvWujeAH pic.twitter.com/pMkd6lbT4d

— Santiment (@santimentfeed) March 29, 2023

However, despite the increase in wallets, the overall percentage of Bitcoin remained stagnant. Bitcoin experienced price volatility in the first quarter of 2023. Currently, it trades in a more stable range as more investors seek to acquire the token.

Bitcoin Touches $29k But More Volatility Expected

Bitcoin briefly tested the $29k level today before retracing, setting a new yearly high record at $29,182. According to Skew, an analyst on Twitter, there are several reasons for the sudden jump in BTC’s price.

From Aggregate CVD’s and Delta’s data, there was a quick push into spot selling liquidity. He stated that the reaction was a quick rally and selloff, while those in crowded long positions get caught in downside volatility.

$BTC Perp CVD Buckets & Delta Orders
We're in whale town today it seems, the push up was cleanly orchestrated by whales & sold by whales.

The odd one out here are the high leverage traders trying to short to zero & long to 100k lol pic.twitter.com/aMsQrpWBqZ

— Skew Δ (@52kskew) March 30, 2023

He explained that the whales sparked the sudden price spike to $29k. More volatility might occur tomorrow as a total of 141 000 BTC options are set for expiration. These options have a put-call ratio of 0.73 and a maximum pain point of $24,000 with a notional value of $3.8 billion.

Also, the impending release of the Personal Consumption Expenditures (PCE) Index by the Bureau of Economic Analysis on Friday at 8:30 am EST will be crucial. The PCE is the preferred metric for gauging inflation levels and could increase volatility if the inflation rates are high.

Rekt Capital Bullish On BTC

Rekt Capital, a crypto analyst, stated that the monthly candle close is coming tomorrow. If BTC closes at the current price levels, it confirms a breakout from the macrotrend. 

The analyst believes history has repeated itself 385 days before BTC’s halving. And the monthly candle close will confirm a new bull market. 

Bitcoin Alternatives 

Love Hate Inu (LHINU)

Love Hate Inu is a new Vote-to-Earn project that rewards users for participating in opinion polls. It is the new meme coin project with enormous potential to rival Shiba Inu and Dogecoin’s initial success.

LHINU, the platform’s token, is a utility-driven token relevant now and for future purposes. It operates on the Ethereum blockchain and has a highly secured network to transmit votes. Users are required to stake their LHINU tokens for a minimum of 30 days before they can vote. Also, votes are cast anonymously without fear or prejudice.

The presale has crossed the $2 million benchmark, with the tokens currently trading at $0.000095 USDT. The price increase will continue till it lists hence the need for investors to act fast. 

DeeLance (DLANCE)

DeeLance is a freelancing and recruitment platform powered by blockchain and Web 3 Technology. It is a decentralized platform that aims to connect freelancers with employees. Users can work from different locations in the world since it is decentralized. Also, payment is processed with cryptocurrencies making it highly secure from fraudulent activities.

JacobCryptoBury evaluates this new project on YouTube. The platform will help curb unemployment rates and create healthy work relationships between freelancers and employers. 

DeeLance has three standout features, a modern NFT marketplace, a state-of-the-art Metaverse, and an innovative recruitment platform. Also, escrow protection applies to secure payments for the parties involved. Users benefit from fast payouts synonymous with cryptocurrency payments. 

The DLANCE token powers this vision and has its supply capped at 1 billion. Each token is worth $0.025 in the ongoing presale and can be purchased with USDT or ETH directly from a crypto wallet.

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