Despite the price of Bitcoin moving around the $ 50,000 mark and falling to 8.7% over the past 24 hours, currently trading at $ 47,000, a host of analysts and commentators have made positive comments to towards a bright future for Bitcoin, when it is predicted that the price of Bitcoin will increase higher and higher.

On March 4, Bloomberg Intelligence senior commodity strategist Mike McGlone pointed to historical data to show that Bitcoin is on track to reach $ 100,000. McGlone’s argument revolves around a growing decline in prices for shares in the Grayscale Bitcoin Trust.

Bloomberg’s strategist is not the only expert who has high expectations for BTC. The influential youtube trader, Lark Davis, announced on March 4 that we have just passed the first major price wave, with two more coming.

On March 2, technical analyst Kaleo also posted a chart that predicts BTC will reach $ 100,000 by near the beginning of April this year. It’s a sequel to his Bitcoin-era price breakdown two years ago, predicting the price will reach $ 200,000 by mid-2021. He shared:

“So far, this is the most accurate, long-term chart prediction I’ve ever seen for Bitcoin. BTC will reach $ 200,000 in this cycle. “

Another prediction is even more daring. Kraken exchange’s CEO, Jesse Powell, confirmed that Bitcoin could reach $ 1 million or even “limitless” by March 4, adding that BTC will eventually become the currency of the world. gender.

Despite this wave of optimism, history also shows that March could be a bloody month, with Bitcoin prices dropping an average of 5.8% over the past 9 years. The most recent one happened last year on a dark Thursday when prices fell 50%. The second largest monthly candle in BTC history happened in March 2013, when the price increased by 179%.