BTC Price Prediction: Today’s Bitcoin Price, 1st March 2023
Bitcoin and Ethereum continued to under pressure because they were unable to stop their downward trend. As a result of investors choosing safer investment options in the face of escalating macroeconomic uncertainty, BTC is currently trading around the $23,500 mark.
Nevertheless, a string of strong US data that showed a growing US economy and decreased the need for government support in the form of low interest rates led to a dramatic dip in the value of Bitcoin.
Investors and traders became concerned about the possibility of interest rate increases and inflation as a result.
The price of Bitcoin is currently declining, with a potential decline to $22,800 as a result of its inability to overcome the crucial $23,750 resistance level. Ethereum’s value has dropped by 0.99% over the past 24 hours as well.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 23,315.64 |
Bitcoin Price Prediction
The price of Bitcoin as of right now is $23,435 and its 24-hour trading volume is $22.2 billion. Throughout the past 24 hours, Bitcoin has decreased by 0.30%. CoinMarketCap is now in first place with a $452 billion live market capitalization. 19,303,806 BTC coins are now in circulation, with a maximum supply of 21,000,000 BTC coins.
The technical picture for the BTC/USD pair is mostly unaltered because BTC is still consolidated below the $23,750 resistance level and is still holding onto the $22,800 immediate support level. If the price falls below this mark, support for Bitcoin can be found at $22,150.
But, given that the BTC/USD pair is oversold, there is a chance for a rebound, which can push the price above the resistance level of $23,750 to $24,250.
The immediate support level for the BTC/USD pair is $22,800; if it is breached, the price of BTC may be exposed to the next support area at $22,150.
Also Read
Read More News On
Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News
Download The BOL News App to get the Daily News Update & Follow us on Google News.