Bitcoin price is priced at $43,287 at the time of writing, while BTC's 24-hour trading volume is $28,498,206,106.
Large amounts of institutional investment continue to come to Bitcoin. During the last fix, MicroStrategy and El Salvador added new BTCs to their wallets. KPMG Canada announced that they will add Bitcoin and Ethereum to their balance sheets. More companies are expected to allocate some capital to Bitcoin this year.
"BTC could see this level if history repeats itself"
Investor Lark Davis shared on his twitter account, based on historical data, he made a prediction for the leading crypto Bitcoin. Davis claimed that if history repeats itself, BTC could reach $60,000 in a few weeks.
“The last two times we crossed this line, Bitcoin has rallied by 54 percent and 47 percent. If history repeats itself, we could see BTC rise to the $60,000 range in the next few weeks. When the last two 50-day MA breakouts occur, BTC peaked at 40 and It took 46 days. Can we expect a new high for BTC at the end of March? Meanwhile, it took 180 days to break the 50 DMA in 2020.”
Bitcoin Lightning Network capacity increases
Both Bitcoin and Ethereum are showing positive signals, according to on-chain data provider Santiment. BTC rose to $44.4k for the first time in a month and ETH rose above $3,180 for the first time in 2.5 weeks. Trader returns across each network are at their most positive level since October.
Meanwhile, the Bitcoin Lightning Network is increasing its capacity and this is a very positive development. Bitcoin's Lightning Network capacity has increased drastically in the last 12 months as it currently locks a total of 3,400 BTC, equivalent to $141 million. This figure is three times the capacity a year ago.