by Sana Bukhari
Bitcoin’s movement back to $70,000 forms an integral part of an established uptrend system despite traders worrying about potential bears robbing the party too soon.The most valuable cryptocurrency Bitcoin decreased 14% last week to stop at $80,708.
Investors responded negatively when President Donald Trump published his executive order on March 7 to use seized digital coins in federal criminal cases to create a Bitcoin reserve. The news disappointed investors because it lacked a direct investment strategy regarding Bitcoin so market sentiment dropped.
Seasoned analysts believe the market fall represents a temporary cycle adjustment yet remains inside an overall demand increase phase. Nansen crypto intelligence research analyst Aurelie Barthere explains that both crypto markets and worldwide financial systems are currently updating their settings.
“Barthere notes that the current market decline is occurring within an ongoing growth phase. Investors are witnessing drops in both stocks and cryptocurrencies due to expectations of new tariffs and budget cuts, coupled with a lack of Federal Reserve intervention. Additionally, recession fears are emerging.”
Bitcoin Decline Expected Before Next Bull Market Surge
Experts anticipate Bitcoin’s price moving lower all the way down to $70,000. As communicated by Nexo dispatch analyst Iliya Kalchev Bitcoin needs a deeper market decline before it can continue its price growth.
In a bull market’s regular behavior Arthur Hayes the BitMEX co-founder sees Bitcoin prices falling 36% down to $70,000. On March 11 Hayes published on X (Twitter) that Bitcoin market trends parallel economic policy decisions since the 2000s.
Hayes mentioned that major banks including Fed, PBOC, ECB, and BOJ will use easing policies to bring benefits back to their nations.The decision of central banks to buy financial assets and inject money into the economy helped Bitcoin prices increase in past situations.
The final episode of Covid-19-induced quantitative easing caused Bitcoin prices to grow from $6,000 in March 2020 up to its historic peak of $69,000 in November 2021 at a 1,050% increase.The market experts believe Bitcoin will continue increasing in value throughout its future path despite this temporary price drop.
Market analysts from multiple sources expect Bitcoin to reach values from $160,000 to $180,000 by 2025 thanks to institutions entering the market as well as supportive regulations easing into place. According to market professionals Bitcoin’s move down to $70,000 is just a regular cycle part that strengthens its long-term rise.
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