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Will Bitcoin price increase to $50,000 in March amid Russia-Ukraine war?

Bitcoin Price Prediction: Cryptocurrency experts say that a lot of factors will cumulatively push the Bitcoin price to new highs in March 2022 and many other currencies like Ethereum and other giant currencies will rise and this is good news for the cryptocurrency market.

Bitcoin price

The price of Bitcoin has risen by about 13 percent in the past few days, trading at around $44,000 at the time of this report being submitted today (March 2, 2022) and this is good news for the cryptocurrency market. 

The market will recover and some bugs as well. The most popular cryptocurrency, Bitcoin, the world's largest cryptocurrency, has now regained about 23 percent of its value after dropping to around $34,900 on February 24, 2022.

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According to experts in the cryptocurrency market, Bitcoin is gaining traction as a last resort for crypto transactions amid the ongoing war between Russia and Ukraine and this will drive up the price of many other cryptocurrencies such as Ethereum.

The value of the bitcoin has become much greater than the value of the ruble due to the sanctions, and the ruble is the official currency of Russia.

Amid a positive price trend in the cryptocurrency market at a time when there was a general decline in the stock markets during the ongoing geopolitical crisis in many markets especially the cryptocurrency markets, Bitcoin enthusiasts are hoping that the cryptocurrency asset will soon rise to its all-time high of 2022 and possibly The price of Bitcoin will reach one hundred thousand US dollars. 

By the end of this month, it is expected that Bitcoin will touch the price barrier of $ 50,000 or more, according to the news of the cryptocurrency market and analysts. Will it happen?

Experts in the cryptocurrency market say that the price of Bitcoin is set to rise to new heights due to several factors playing in its favor this month.

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Bitcoin has completely detached itself from the stock markets. While Bitcoin prices are up, the S&P is down on concerns that oil and other commodities will rise. 

Bitcoin is certain to regain its place in the cryptocurrency market as a safe haven as the Ukraine-Russia crisis is expected to continue. Longer Than Expected 

There was a big surge this month in the number of wallets holding 1,000 bitcoins and this Fed is on the shaky ground With recession fears and a spike, the number of Fed rate hikes is likely to be lower in 2022. 

These factors are certainly going to very very significantly push Bitcoin prices to new highs in March.

Turning Point for Cryptocurrency

Cryptocurrency market experts and analysts also say that the Russo-Ukrainian war has proven to be one of the turning points in the cryptocurrency industry as well as in the stock market.

The war between Russia and Ukraine is one of the most important turning points in the cryptocurrency industry. From the acceptance of Crypto in the form of large donations and the intermediary of international trade alongside SWIFT, we are seeing the growth of a DAO like UkraineDAO to deal with the war crisis support by the Crypto platform and this is good news,” he said. 

Dileep Seinberg, Founder and CEO of Think chain, if national trade could be done via Crypto, it would surely affect prices in the market, especially cryptocurrencies.

He further said that Bitcoin is the only decentralized currency that can become legal tender for many countries unlike other digital currencies such as Ethereum, which mostly operate under a central agency owned by people, government organizations, or huge corporations.

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However, Seinberg does not believe that Bitcoin will reach $50,000 within a month.

It may take another 21-25 days of consistent performance for bitcoin to reach $50,000.

Meanwhile, the price of other crypto-assets such as Ether, Solana, and Binance Coin also appears to be recovering and this will revive the cryptocurrency market.