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Bitcoin price returned to levels above $ 52,000

On March 3, quotes of the first cryptocurrency rose from a level of about $ 47,500 to levels above $ 52,000.

At the time of writing, the rate on the Bitstamp exchange reached $ 52,360.

Data: TradingView.

The quotes of the first cryptocurrency collapsed at the beginning of last week, to levels near $ 45,000.

Against the backdrop of the fall, analysts at the CrossTower crypto trading platform said that the interest of large investors in the first cryptocurrency will continue to support the asset price above $ 50,000.

At the end of February, the CryptoQuant company recorded large batches of bitcoin outflows from the American exchange Coinbase, which is focused on large investors. According to the CEO of the firm, Ki Yoon Joo, these were price-cut digital gold purchases that they made in the over-the-counter market.

“This is the strongest bullish signal I’ve ever seen,” the head of CryptoQuant noted at the time.

On March 3, CryptoQuant specialists stated another major Bitcoin withdrawal from Coinbase.

Analyst Lex Moskovsky considers the stock balances in the first cryptocurrency, which are at a 3-year low, as a positive signal for the price.

Colin Wu drew attention to another sign of a bull market – implied volatility of bitcoin fell to the levels of the beginning

As a reminder, JPMorgan analysts suggested that bitcoin would not be able to hold record price levels above $ 50,000 before volatility dropped significantly.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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