Bitcoin's March Correction May End, Analyst Predicts 23.3% Gain by April
1min read Bitcoin’s recent price correction has sparked a mix of emotions among investors, with some indicators suggesting potential further declines. However, one analyst believes that the current phase could be the last opportunity to buy before the next major rally.
Captain Faibik, a popular crypto analyst, posted on social media platform X that Bitcoin is poised for a bullish breakout as it continues to consolidate within a falling wedge pattern. This pattern is known for its bullish implications and has been forming since December 2024, encompassing the period from its all-time high in January until the intense correction in March.
After reaching a peak of around $88,500 early last week, Bitcoin experienced a gradual pullback, hitting a low of $81,300. Captain Faibik interprets this decline as a healthy consolidation rather than a bearish reversal, indicating that the correction phase is nearing its end. The analyst predicts that a breakout is due at the beginning of April, which could drive the Bitcoin price towards a new all-time high by the end of the month.
Ask Aime: Should I buy Bitcoin now, and what's the potential upside?
Captain Faibik forecasted that the Bitcoin price would trade around $109,000 at the end of the month. If this prediction holds, it would not only surpass the current all-time high of $108,786 but also affirm that the correction throughout March was building toward a continuation of the broader bull cycle.
Bitcoin has experienced declines over the past two months, with February ending with a 17.5% decline and March ending with a 2.19% decline from its month-open. Closing the month around $109,000 would mark the end of the prolonged correction trend.
There is a noticeable difference in behavior towards Bitcoin between experienced investors and newcomers. Large investors have been actively accumulating Bitcoin over the past few weeks, which typically precedes significant upward price action. This is evidenced by over 30,000 BTC being withdrawn from crypto exchanges last week, as shown by on-chain analytics platform Santiment.
In contrast, many retail investors are hesitant, waiting for further dips before making entries. The fact that whales are not waiting for lower prices is a strong vote of confidence in Bitcoin’s near-term trajectory. At the time of writing, Bitcoin is trading around $83,500, up by a modest 1.9% gain in the past 24 hours but still sitting 23.3% below its all-time high set in January.
