With the start of the new weekly trade, the crypto space was expected to ignite a fine upswing following the consolidated weekend. However, the trend remains the same and is believed to continue with a consolidated trend throughout the month as multiple events may knock off the volatility within the crypto space.
Recently, the market trend was completely flipped and brought under the bearish influence as the crypto-friendly bank Silvergate collapsed. The prices of the majority of the cryptos dropped heavily, which was led by the star crypto Bitcoin. While the impact of the event appears to have faded, multiple events may knock off the crypto space and keep up the volatility of the tokens.
So what are all the events that may occur in March? A popular analyst lists them in one place below,
The analyst mentions the important dates which begin with the Mt.Gox beginning to release on March 10, 2023. A lot of speculation has surrounded the Mt.Gox re-distribution plan. Some believe the traders may hold the BTCs, while others hope a massive selling pressure may kick off a fresh bearish wave ahead. Further, the US CPI report is expected to be released on March 14 which is believed to offer a significant push.
The much-awaited Ethereum developers have a target to release the Shanghai upgrade on the Goreli testnet by March 14. This could be the final testnet before the mainnet release that is yet to be rolled out. Later, the FOMC meeting for the next month is scheduled on March 21, whose minutes have impacted the entire market for a long time.
Therefore, all eyes need to be on the market throughout March.
Source: https://coinpedia.org/news/the-crypto-space-may-be-highly-volatile-this-march-multiple-events-to-impact-the-bitcoin-price-rally/