With Bitcoin hitting new highs, the crypto bull season is running in full swing. BTC continues to push its limit, climbing new thresholds. The price of BTC has recently crossed the ambitious $69K mark, triggering a speculative spree.
With analysts pouring in new projections for BTC to soon hit $70K, a new fear seems to hover over crypto enthusiasts.
A novel trail of economic events is scheduled to be conducted in March, which may soon impact BTC’s current price surge.
March is a crucial month concerning the economic strata of the US. With a spree of elemental economic events scheduled to take place, analysts believe the events could soon send Bitcoin spiraling to new lows.
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Will Bitcoin Surge or Dip in March?
Wu Blockchain, a notable crypto analyst on X, outlined an interesting factual insight on the platform.
The analyst noted how crypto enthusiasts should brace themselves as March approaches. He shared how the month of March can be quite crucial for BTC in terms of pricing and valuation.
Sharing an image of important economic events scheduled for March, Wu Blockchain shared an insightful event breakdown. He reiterated that BTC could either undergo a price surge or dip this month. The analyst’s evaluation is based on the results that these scheduled meetings and events could produce.
Starting the event timeline, the FEDs BTFP expiration meeting commences on March 12th. The same day, the CPI data unveiling is also scheduled, which may significantly impact the US dollar price ratio.
The Ethereum Duncan upgrade is scheduled for March 13. This update might assist ETH in gaining considerable momentum while other crypto’s rummage seeks stable ground.
Similarly, March will also accompany proceedings related to Ripple and XRP, with the SEC submitting its brief in court. This development can “potentially” impact the price of XRP to a certain extent.
Other notable events include the Federal Reserve interest rate decision coupled with the Nvidia GPU conference. These events can potentially impact the current crypto market’s momentum to a certain extent.
Also Read Bitcoin (BTC) Forecasted To Climb Above $87,000: Here’s When
End Results for Do Kwon and Sam Bankman-Fried
The end of March will also bring forth solid news concerning TerraLabs founder Do Kwon and FTX’s Sam Bankman-Fried. The trial of Do Kwon is scheduled for March 25th. This development may also foster activity in the Terra Luna network.
Similarly, FTX’s SBF trial is next on the list, signaling a “potentially” heavy month for the crypto market to undergo and experience.
However, considering the strong crypto bull cycle momentum, these events may or may not materialize as projected. The crypto market is volatile as it is and carries a note of unpredictability in all its verticals.