Crypto Price Prediction: For nearly two weeks, the cryptocurrency market cap has been teasing the $2 Trillion threshold, triggering a sideways sentiment among market participants. This lateral movement aligns with the Bitcoin price consolidation between $52885 and $50680 horizontal level to create a range pattern.
Currently, the traders are struggling to decide if the consolidation is a distribution for a correction or a pre-rally consolidation to regain strength.
However, the crypto financial services platform Matrixport released a new report bolstering a bullish outlook for BTC with a potential target of $63,000 in March 2024. The optimism is rooted in several significant events on the horizon. Among these, Bitcoin spot ETF approval stands out as a pivotal moment, alongside the eagerly anticipated Bitcoin halving. Additionally, there’s a buzz around potential interest rate cuts following the Federal Reserve’s FOMC meeting, and the influence of the upcoming U.S. presidential elect
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