COINOTAG News reported on March 18th that the current price of Bitcoin stands at $83,107, having reached a daily peak of $83,979 and a trough of $82,913. The ongoing conflict in Israel and Gaza has spurred a global risk-off sentiment, resulting in a remarkable surge in gold prices to historical highs. Despite being labeled as “digital gold,” Bitcoin has not yet solidified its position as a safe-haven asset, primarily due to its inherent price volatility and the gradual maturation of the market.
In light of the prevailing geopolitical tensions, analysts observe that Bitcoin’s price stability remains intact for now. A crucial support level is identified at $82,000, with a potential dip below could test the significant $80,000 mark. Conversely, resistance noted at $85,000 indicates that surpassing this threshold may challenge the $88,000 level. Investors are urged to proceed with caution, maintain proper risk management, and refrain from employing excessive leverage as the situation unfolds.