Bitcoin Price Up to $28,600 – Is The Next Push Just Around The Corner?

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Bitcoin price behavior in the past few days has raised investors’ eyebrows as to whether it will uphold the bullish movement. As of March 30, and 31, 2023, BTC closed at $28,033 and $28,478, respectively. It even recorded an intraday high of $29.159 on March 30.

Today April 1, BTC has gained slightly, maintaining its hold on the $28K price level. This price behavior shows that the asset’s next push could be around the corner.

Bitcoin Price Prediction with Technical Indicators

Despite the price loss of Bitcoin two days ago, on March 30, 2023, it has increased from the $27k level to $28,435 today (April 1) at the time of writing. The three consecutive green candles on the monthly chart confirm the bullish pressure on Bitcoin’s price.

Bitcoin Price Up to $28,600 – Is The Next Push Just Around The Corner? — Source: Tradingview.com

Furthermore, the 38.5% Fib level (27,966) will provide support to limit the downward movement. On the daily chart, the 50-Day Simple Moving Average (SMA) is higher than the 200-Day SMA. Therefore BTC is likely to uphold a bullish sentiment in the coming days.

The 63.54 Relative Strength Index (RSI) value indicates a neutral position for the BTC market. However, it shows that the asset is possibly heading toward the overbought region (above 70). Also, Bitcoin’s MACD is converging with its signal line and showing positive values confirming the bullish momentum.

BTC shows a highly promising future in long-term chart analysis. Irrespective of the fluctuations, it has experienced more steady prices since the beginning of 2023. Expect a further increase in April.

Experts’ Prediction 2023 for Bitcoin

Experts have composed BTC price predictions based on technical analysis. Changelly predicts that Bitcoin is expected to reach a maximum price of $34,690, a minimum price of $29,337, and an average of $30,426.

AnalyticsInsight predicts a maximum price of $34,912, a minimum of $20,353 due to possible fluctuations, and an average price of $31,239.

According to Coinpedia, BTC will trade at $43,959 (maximum price), with a minimum price of $23,218 and an average trading price of $34,412. Bitcoinwisdom predicts a maximum of $41,944, a minimum price of $33,557, and an average price of $39,151.

Factors Affecting Bitcoin’s Price

There are several factors behind the price behavior of Bitcoin. Macroeconomic factors like regulations, inflations, etc., could impact the asset’s price range.

Here are some latest events on the network.

The Wind Down of Bittrex Due to Regulatory Uncertainty

In a Twitter post, the Bittrex crypto asset exchange announced the wind-down of its U.S. operations by April 30, 2023, due to a lack of a clear regulatory framework. According to Ritchie Lai, Bittrex CEO and Co-founder, operating in the current regulatory and economic ambiance of the U.S. is impossible and unprofitable.

He added that regulatory requirements are always uncertain and imposed without adequate input and discussion. Furthermore, Bittrex executives indicated their plans to make Bittrex’s global version thrive outside the U.S.

They plan to operate in Canada, South America, Europe, etc., and shutting down the U.S. section won’t affect their plans.

On the other hand, all customer funds are secure and can be withdrawn by Bittrex customers in the U.S. with verified identity on the network. The timeframe for the withdrawal elapses by April 30, 2023.

Bittrex advised all U.S. customers to withdraw their funds quickly as their accounts would be deactivated after the deadline. Thus, funds in the account might become inaccessible except for trading. By April 14, every open position will shut down, and pending orders will be terminated.

This announcement is likely to trigger the SELL signal in the crypto market, especially Bitcoin.

Selling off 41.5k BTC to Justin Sun by the U.S Government

The United States Government intends to sell an extra 41,500 BTC forfeited in the Silk Road case. Justin Sun, the potential bidder and co-founder of Tron, proposes a 10% discount offer on the sale. The US government plans to liquidate the bitcoins in four batch series this year.

US government has announced its intention to sell an additional 41,500 #BTC this year. To minimize the potential impact on the market, I would like to offer to purchase these BTC at a 10% discount for an OTC deal.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 31, 2023

9,861 BTC has already been sold by the government, as reported on March 14. The total worth of the sale was $215 million. According to recent updates of the court filings on March 27, the United States government holds over 2,05,000 BTC, boasting the market’s largest whale.

Although the sale method for the BTCs has not been disclosed, Justin Sun proposes a deal to the US government to buy huge BTC. According to Sun, he intends to reduce the market’s potential impact via his OTC (over-the-counter) deal.

Meanwhile, many crypto enthusiasts believe a huge price drop will follow up if a large amount of BTC like this is dumped.

Bitcoin Alternatives

DeeLance (DLANCE)

DeeLance is redefining the freelancing and recruitment industry by unifying blockchain, metaverse, and NFTs. It offers a vast breakthrough over established recruitment sites and holds competitive edges in transparency, speed, and price.

DeeLance connects freelancers to legit recruitment platforms on Web3 to facilitate transparency and quick payments. Users will have access to the numerous benefits and features of the platform using the DLANCE tokens (the network’s native token).

Deelance has commenced its token presale and raised over $27,000 in a few days. This success so far indicates that investors believe in the future of this project.

FightOut (FGHT)

FightOut is a fitness crypto project that aims at encouraging healthy lifestyles amongst users with its cutting-edge technology. It rewards users $FGHT tokens for completing workout goals, exercising with the FightOut app, and collecting several achievement badges on the app.

FighOut’s Play-to-Earn concept allows users to build their in-app NFT avatar and compete with other Fight Out champions in the gaming ecosystem. The $FGHT tokens presales have ended, and claiming will begin on April 5, 2023.

The funds raised in the presale show that the future of this project is promising. Investors and users will benefit from this platform, including digital rewards and real-world physical health improvements.

FightOut’s tokens will list on the CEX exchange on April 5 with a tangible value. Early investors and potential buyers will make the most of the early trading stage of the token as the price will spike when it lists on other exchanges.

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