"Bitcoin (BTC) Expected to Trade Between $89,000-$108,000 in March"

JH Kim

Summary

John Glover, CIO of crypto lending platform Ledn, predicted that Bitcoin (BTC) will fluctuate between $89,000 and $108,000 throughout March.
Glover analyzed that among Bitcoin (BTC)'s two paths, one involves starting a rally after a decline, while the other suggests it has already confirmed its bottom and could rise to $130,000.
He stated that short-term predictions hold little significance and the so-called 'Trump effect' has already been priced into the market.

According to crypto media BeInCrypto on the 26th (local time), John Glover, Chief Investment Officer (CIO) of crypto lending platform Ledn, predicted that "Bitcoin (BTC) will fluctuate between $89,000 and $108,000 throughout March."

He explained, "From a technical perspective, BTC is following two paths. One involves declining to $89,000 or $77,000 before starting a rally," adding that "the other possibility is that it has already confirmed its bottom and could rise to $130,000."

Further, he analyzed that "short-term predictions don't hold much significance as they are largely influenced by major players like Strategy and news," and personally stated, "I believe BTC will remain in the $89,000-$108,000 range in March."

He also added, "The so-called 'Trump effect' has already been priced into the market," and "while Donald Trump supports cryptocurrencies and is pushing for related regulations, I don't consider it a major variable in the short term."