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On March 24, 2025, the price of Bitcoin (BTC) was around $85,159, experiencing a rise of 1.24% from the previous close.
Technical Analysis:
Some analysts estimate that Bitcoin may remain within the price range of $89,000 to $108,000 in March 2025. John Glover, Chief Investment Officer at Ledn, stated that BTC is likely to be stuck in that range during this month.
In addition, the Relative Strength Index (RSI) indicates that Bitcoin is approaching the oversold territory, which could suggest a potential price rebound towards $92,325 if selling pressure eases.
Price Prediction:
Some Bitcoin price predictions for 2025 are as follows:
Matthew Sigel (VanEck): Projecting Bitcoin price to reach $180,000 in the fourth quarter of 2025.
Bernstein Research: Predicting Bitcoin could reach $200,000 by the end of 2025.
Tom Lee (Fundstrat): Projecting the price of Bitcoin to reach $250,000 by 2025.
Standard Chartered: Predicts that the price of Bitcoin could reach $500,000 if the government adopts the strategic Bitcoin backup plan proposed by Senator Cynthia Lummis.
Factors Affecting:
Several factors that can influence the price of Bitcoin include:
Institutional Adoption: An increasing number of large companies and institutional investors are adding Bitcoin to their portfolios, increasing demand in the crypto market.
Government Policy: Pro-crypto policies from the government, such as a positive stance on digital assets, can drive the price of Bitcoin.
Halving Event: The Bitcoin halving event that reduces new supply can increase prices due to the decrease in supply.
It is important to note that the crypto market is very volatile, and price predictions can change as the market evolves.