Bitcoin Price Prediction for Today, March 29: BTC Is Barely Trading as It Revisits the $28,000 High

Bitcoin Is in a Range-Bound Movement as It Revisits the $28,000 High – March 29, 2023

The BTC/USD pair is fluctuating in a range between $26,500 and $28,500 as it revisits the $28,000 high. The crypto’s price dropped on March 27 to a low of $26,536 as bulls bought the dips. In order to test or surpass the previous highs of $28,000 and $28,500, the value of the BTC price is rising. When the resistance levels are broken, the largest cryptocurrency will start moving again in a bullish direction.

Bitcoin Price Statistics Data:
•Bitcoin price now – $27,537.07
•Bitcoin market cap – $532,559,424,214
•Bitcoin circulating supply – 19,331,075 BTC
•Bitcoin total supply – $578,406,926,538
•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

Bitcoin (BTC) price has remained in a constrained range since March 19 after failing to overcome the resistance at $28,500. For the past week, the biggest cryptocurrency has maintained a price range of $26,500 to $28,500. Since March 19, this is the only price range that has changed. It has started to rise as of the time of writing and has gotten as high as $27,381 so far. If buyers move past the $28,000 and $28,500 resistance levels, Bitcoin’s bullish trend will resume to the upside. The price of BTC will rise even further if the current thresholds are broken, peaking at $31,000. Bitcoin will fall if buyers are unable to keep the bullish momentum above the $28,000 high. Furthermore, selling pressure might resume if the price falls below the $26,500 support. A low of $25,000 will be reached by the price of Bitcoin. Bitcoin is currently barely trading as it approaches the high of $28,000.

Bitcoin to Get Zero-Knowledge Proofs and Update Network State Validation

The development of Ethereum layer 2s has been fueled by zero-knowledge proofs, and now they are coming to Bitcoin. Zero-knowledge proofs (ZK-proofs) will soon allow Bitcoin users to quickly verify individual blocks and, eventually, the entire blockchain. The Swiss-based nonprofit ZeroSync Association is creating tools that let users verify the state of the Bitcoin network without downloading the blockchain or relying on a third party for verification. The tool aims to modernize the verification of the Bitcoin blockchain process, which currently necessitates that node operators download a sizable amount of data to synchronize the accurate state of the Bitcoin network.

The BTC price is largely stable between $26,500 and $28,500 as it revisits the $28,000 high. The current range-bound movement of BTC is necessary as a result of buyer’s inability to overcome the resistance at the $29,000 high. A rally above the psychological level of $30,000 may be possible if the resistance at $29,000 is overcome. In contrast, if buyers fail to protect the $25,200 support, Bitcoin faces a decline.

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