- Bitcoin has fallen over 5% in the first six days of March 2023, dampening hopes of a rapid ascent back to its previous peak.
- The digital asset had started March strongly, but experts anticipated a dip after the initial wave of enthusiastic investors.
- Despite this setback, Bitcoin is still up 19% in the past six months and 35% year-to-date, indicating progress from its price at the beginning of the year.
Bitcoin price has continued to waver in its ascent back to its former peak and fell by over 5% in the first six days of March 2023.
Optimistic crypto analysts are likely scratching their heads now out of frustration as the digital asset has refused to continue going northward.
At one point in February, when Bitcoin price was at $24,800+, it seemed that the speculations would soon come through about it hitting new landmarks. However, it did not take long before it dropped steadily till the month ran its course.
–Bitcoin Price Surges To Highest Point In 2023
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–JPMorgan CEO Jamie Dimon Condemns Bitcoin As Fraud.
Bitcoin started March on a strong note but experts already expected it to dip after the new month wave of enthusiastic investors passed. From its $23,600+ pricing, the crypto has now falling to less than $22,500.
However, its price history for 2023 shows that it has come a long way from the lesser than $17,000 price it started with. In fact, it is currently up by 19% in the past six months (September 22 to March 23). Also, a year to date history shows that Bitcoin price has gone up by 35%.
Of course, 2022 is not a year to be proud of for the crypto industry as it suffered major losses. A better viewpoint of where Bitcoin price is now is if you compare it to its performance in 2021, during the pandemic. It is clear that the asset is still a long way out.
Still, many analysts continue to be optimistic about a major move coming that would push Bitcoin towards the moon. Although, their are others who don’t agree and expect it to keep going up and down for the forseeable future.
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