• The month of March saw a huge surge in Bitcoin prices.
• Despite the increased volatility, the market is still responding positively.

The monthly close of Bitcoin in March has painted a bullish picture, indicating a strong potential for the cryptocurrency to continue its upward momentum. This is an especially encouraging sign as the month also saw a significant increase in volatility. Above all the prices dropping as low as $50,000 before recovering to a high price. 

BTC/USD March 2023 (Source: Trading View)

The month of March saw a huge surge in Bitcoin prices, with the asset climbing an impressive 22%, beginning at $23,450 and ending at over $28,500 by the end of the month. The next major move for Bitcoin is eagerly anticipated following this significant upward trend.

This shows that despite the increased volatility, the market is still responding positively to positive news and developments surrounding Bitcoin. The bullish outlook for the digital asset appears to be further supported by recent analysis from financial firms such as JPMorgan Chase & Co. He stated that “the current rally reflects strong institutional demand.”

Crypto Market Outlook 

The crypto market has seen a slight decline in the short term. However, this happened with total capitalization falling by 1.9% to $1.2 trillion on CoinGecko. This downward trend is being led by Bitcoin, which has dropped below $28,000, and Ethereum (ETH) which is down 2.2% to $1,778 at the time of writing. 

Altcoins have also been affected by this downturn, with several seeing heavier losses of over four percent; these include Dogecoin (DOGE), Solana (SOL), Polkadot (DOT), Shiba Inu (SHIB), and Avalanche (AVAX).