Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun

Category：Mining InsightsAuthor：Media2022.03.03Read more

BTC price appears to be consolidating below $44,000, while analysts highlight $48,000 as the next short-term bull target. 

Investor sentiment across the cryptocurrency ecosystem has seen a significant shift in the positive direction over the past week, despite events in the wider world. Currently, Bitcoin (BTC) is back above $43,500 and many altcoins are also witnessing double-digit gains. 

The ongoing conflict in Ukraine and recent actions taken by governments to limit access to banking services may have helped to shine a light on the value of holding cryptocurrencies, which offers some protection against uncontrollable events and what some might perceive as government overreach.

Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun

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