Bitcoin for the past few days traded up to $48,000 and earlier today it suddenly broken its strong support of $45,000. In a flash crash, BTC price reached up to $44,500 during March 2022 closing of the month. There are several reasons on why BTC went up to $48,000 last week and why it plunged to $44,500 this week.
Earlier March, BTC was traded at $37,000, this is due to Ukraine war crisis. Russia got severe sanctions all over the world due to this war crisis. Around the second week of March, Russia decided to accept BTC payment for their Oil based products and exports. As soon as the news come, the price of Bitcoin keeps going higher high. If war goes on and more sanctions on Russia, this will leads to $100,000 BTC this year.
For now, there is no reason to go panic as market is just in normal correction. It is in slight correction mode as no market can keep going up forever. Once the correction is over, it will reach next zone of $52,000 by the end of this April as per Crypto traders in Twitter.
Though this is not a financial advice, BTC became part of many millionaires portfolio. Since the supply of BTC is limited, it will skyrocket at some part and retail investors cannot afford to buy single BTC in their life ever again. So, this the time to grab one BTC or at least do Dollar Cost Average to buy one BTC.