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BTC Price Prediction: Today’s Bitcoin Price, 22nd March 2023

BTC Price Prediction: Today’s Bitcoin Price, 22nd March 2023

BTC Price Prediction: Today’s Bitcoin Price, 22nd March 2023

BTC Price Prediction: Today’s Bitcoin Price, 22nd March 2023

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Bitcoin (BTC), the well-known digital currency, has managed to sustain its upward trajectory and continues to trade at above $28k despite the inherent volatility of the cryptocurrency market. This is a big victory for Bitcoin, which has encountered many difficulties lately as a result of a protracted downward trend.

Yet, investors have historically looked to Bitcoin as a safe haven during times of market uncertainty, and it is believed that the current instability of the global financial system is one of the key factors behind its recent price spike.

Investors have always used bitcoin as a shelter during uncertain economic times. As a result, recent bankruptcies, growing inflation rates, and monetary policy decisions by the US Federal Reserve have all contributed significantly to the increase in the value of BTC.

In the near future, traders seem reluctant to commit any sizable funds before the impending Federal Reserve interest rate announcement. The bank is expected to increase interest rates by 25 basis points (bps), which might have a major effect on the cryptocurrency market.

Today’s Bitcoin Price

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DATEBTCUSD
Today01$ 28,108.99

Bitcoin Price Prediction

Bitcoin is currently trading at $28,000, with a 24-hour trading volume of $41.4 billion, and has gained about 2% in value in the last 24 hours. After surpassing the resistance level of $27,750 on Tuesday, the BTC/USD pair is now settling near the $27,500 mark. If the current positive trend continues, Bitcoin’s price may rise to $29,250 or $30,700.

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The next support level for Bitcoin is at $23,150 in the event that the levels at $26,700 or $25,200 are broken. Yet, due to the development of bullish engulfing candles, the general trend for Bitcoin is still bullish despite the likelihood of downturns.

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