Bitcoin aims for new record, only two weeks after correction started

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Last Updated on 27 March 2024 by CryptoTips.eu

End of the first quarter and Bitcoin continues its stellar run. After the Bitcoin ETFs were approved in early January, the price suddenly fell 20% and then bounced back up.

A new record was reached at the beginning of this month, after which the Bitcoin price fell another 20% and panic dominated the social media accounts of new crypto investors.

Experienced investors on the other hand are familiar with these 20% crashes during a bull run.

Only two weeks later, the largest digital coin is once again trading above $70k. So what can we expect in the second quarter?

Advertentie.

Price target

Bitcoin is on track to end March on another positive note. It has gained some 16% this month and 66% so far in the first quarter.

The Bitcoin price target has already been raised several times this year, and as the crypto market has simply bounces back after each sell-off, analysts remain extremely positive of course.

Both the major newspaper India Times and the well-known financial site The Street predicted prices of $80,000 in the past 24 hours alone.

https://twitter.com/Aymi338/status/1772703245380592063

If that level can be reached before the halving (which will take place between April 15 and 25), a next target of $100,000 seems possible.

Of course, don’t be surprised if after reaching that first level the price again drops 20% because everyone simply inserted an automatic sell level.

Happy trading.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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