Bitcoin Forecast And Analysis For 5th March: Decline Could Be Precursor To Rise

Last weeks consolidation continued over the weekend. But a decline in the early hours of this morning caused to it to end, and the price is now around the midway point of the decline seen last week.

At the time of this writing, the bitcoin course was equal to $3710 and the market capitalization was $66 billion.

I said in my previous post that we could see a rise begin from around the halfway point, and I still think we can. So far we haven’t seen anything but the price does look like it’s bottoming out, and over the past couple of hours it has risen slightly, so it might begin to rise later on tonight.

For now, my advice is to continue to watch the price, to see if it manages to continue rising or not. If it does, expect to see a decline of some sort around the beginning of today’s drop, where I’ve marked the blue area.