Bitcoin price today 30/3: Bitcoin reached a 'pivot' and then 'collapsed'

Bitcoin price reached a high of $48,106 in the last 24 hours – the highest level since early 2022 – but the upward momentum failed to continue and the price sank to the $47,300 range.

This morning, March 30, Bitcoin traded at 47,394 USD, down 0.4 percent from yesterday's close. However, as compared to seven days before, the leading virtual currency's price increased by 11.5 percent.

According to statistics, the world's most popular and expensive virtual currency traded at a low of 46,920 USD and a high of 48,106 USD in the previous 24 hours.

According to CoinMarketCap, Bitcoin trade volume was around $32 billion over this time period, with a market value of $899 billion.

bitcoin price
BTCUSD – Daily Chart

Bitcoin's price decreases, leading the growth of the majority of virtual currencies to stagnate. The majority of cryptocurrencies, including Ethereum, Tether, Binance Coin, and USD Coin, gained by less than 1%. Several virtual currencies have risen in value, including Terra, which is up 11.1 percent, Solana, which is up 3.5 percent, and Avalanche, which is up 1.6 percent...

On the contrary, numerous cryptocurrencies retreated, including Ripple, which fell 2.26 percent, Dogecoin, which fell 0.64 percent, and Shina INU, which fell 3 percent...

The total market capitalization currently stands at $2,130 billion, a tiny fall of 0.29 percent.

Previously, as a result of a flurry of encouraging news, including Russia's ability to accept Bitcoin to pay for energy exports, the price of Bitcoin soared to $ 48,106 - the highest level since early 2022.

Several of the world's highest capitalization currencies have soared to new heights this week, including Ethereum, Binance Coin, Cardano, XRP, Terra, Solana, Avalanche, and Terra, which all gained an average of more than 6%.

According to Matt Maley, market strategist at Miller Tabak, while there will be some temporary resistance in the interim, Bitcoin is completely capable of reaching the $50,000-51,000 level.

Daniel Kukan, a skilled cryptocurrency trader with Crypto Finance AG, believes that Bitcoin is also in an upswing and is heading for the $53,000 barrier level.

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