With Bitcoin reaching new highs, the cryptocurrency bull run is in full swing. BTC continues to push its limits, climbing to new thresholds. The recent price of BTC has surpassed the ambitious $69,000 mark, causing a wave of speculation.
With analysts making new predictions about BTC soon reaching $70,000, a new sense of fear seems to engulf cryptocurrency enthusiasts.
A series of new economic events are expected to take place in March, which could soon impact the current price increase of BTC.
March is an important month for the U.S. economic landscape. With a range of fundamental economic events set to take place, analysts believe that these events could soon push Bitcoin to new lows.
Will Bitcoin rise or fall in March?
Wu Blockchain, a notable cryptocurrency analyst on X, has outlined an interesting realistic view on this platform.
The analyst notes how cryptocurrency enthusiasts should prepare themselves for what March brings. He shares that March could be quite critical for BTC in terms of pricing and valuation.
Sharing a timeline of upcoming important economic events in March, Wu Blockchain has shared detailed information about the events. He reiterates that BTC could either rise or fall in this month. The analyst’s assessment is based on the outcomes that these scheduled meetings and events could create.
Starting the event timeline, the FED’s BTFP meeting begins on March 12. On the same day, the CPI data release is also planned, which could have a significant impact on the USD exchange rate.
The Ethereum Duncan upgrade is planned for March 13. This update could provide support for ETH to achieve significant momentum while other cryptocurrencies are seeking a stable platform.
Similarly, March will also come with the associated litigations regarding Ripple and XRP, with the SEC filing a summary judgment. This development could “potentially” impact the price of XRP to a certain extent.
Other notable events include the Federal Reserve interest rate decision along with the Nvidia GPU conference. These events have the potential to influence the current momentum of the cryptocurrency market to a certain extent.
Final outcomes for Do Kwon and Sam Bankman-Fried
The end of March will also see certain definite news related to TerraLabs’ founder Do Kwon and FTX’s Sam Bankman-Fried. Do Kwon’s trial is scheduled to take place on the 25th of March. This development could also drive activity on the Terra Luna network.
Similarly, FTX’s SBF trial is next on the list, signaling a potentially heavy month for the cryptocurrency market to go through and experience.
However, considering the strong bullish momentum of cryptocurrencies, these events can either materialize or not materialize as expected. The cryptocurrency market is highly volatile and carries unpredictable signs in all of its vertical industries.
