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The Bitcoin price has surged 2.6% in the last 24 hours and 23% in the past week to trade at $63,612 as of 12:05 a.m. EST on trading volume that soared 63% to $35 billion.
One of the big catalysts for the BTC price surge in the past week was MicroStrategy’s purchase of another 3,000 Bitcoins, increasing its total holdings to approximately 193,000 bitcoins valued at almost $12.3 billion. Spot Bitcoin ETF inflows also continue to put upward pressure on the BTC price as supply struggles to meet demand.
Bitcoin Price Looks Set to Reclaim All-Time High of $69,000
BTC/USDT Analysis by Tradingview.com
The Bitcoin price indicates a bull rally breaking above the cup and handle pattern, which signals a continuation of the bullish trend.
The BTC price support at the $16800 level, aligning with the cup’s base, led to a swift rebound, resulting in an upward push in price, reaching the neckline of the cup. After a brief correction by the bears, the bulls displayed their strength, pushing the price back up, surpassing the $52,000 level into a bull rally.
The technical indicators are bullish bias supporting the bull rally as the bulls push the price above the 50-day and 200-day simple moving averages (SMAs). The golden cross at $28,700 has also amplified the bullish momentum.
The Relative Strength Index (RSI) indicates a rebound on the 70 overbought level region, indicating intense buying pressure, pushing the RSI further into the overbought zone, sustaining the bullish outlook for the Bitcoin price.
Bitcoin Price Bulls Target New ATH At $86,000
With the cup and handle pattern confirming the bullish sentiment for the Bitcoin price, bulls aim for a new all-time high (ATH) at $86,000, a 32% increase from its current price.
However, the RSI trading in the overbought level could trigger a downtrend, forcing the bulls to retreat to the $60,000 support zone.
As the bullish momentum for BTC continues, investors may want to diversify their portfolios into a new BTC-inspired token called Green Bitcoin (GBTC), which offers unique Gamified green staking and Predict-to-Earn features that offer substantial earnings potential.
Green Bitcoin (GBTC) Raises $1.6 Million, Nears $1.7 Million Funding Goal
The Green Bitcoin (GBTC) token continues to gain momentum, raising over $1.6 million in funding and closing in on its $1.7 million goal.
The GBTC project allows users to earn money by predicting Bitcoin prices through its unique Predict-to-Earn feature. Successful predictions can earn incentives based on the accuracy of the forecast and the amount staked. This gamified approach resets daily, ensuring continuous engagement and participation.
Green Bitcoin is now NUMBER 1 on the list of BEST CRYPTO PRESALES!https://t.co/Ng4Su8wA0W
— GreenBitcoin (@GreenBTCtoken) February 27, 2024
More Rewards Through Staking
GBTC also employs the so-called Gamified Green Staking model, where token holders can stake their tokens and earn rewards.
The project aims to incentivize long-term holding by allowing you to stake your tokens and earn passive income with an impressive 207% annual percentage yield (APY). Currently, 67% of the total 2.7 million GBTC tokens are already staked.
The experts weigh in on GBTC!
Bitcoin Price to Hit $200,000 by 2025: Standard Chartered – Can Green Bitcoin Outperform BTC?https://t.co/w2mT4kp0fo
— GreenBitcoin (@GreenBTCtoken) February 19, 2024
Popular YouTuber and crypto analyst Jacob Bury says the GBTC’s “Predict-to-Earn” concept is a winner and could potentially help it surge 10X upon launch.
Investors have less than four days to buy the GBTC token at the current discounted price of $0.5742 per token before it increases in the next stage.
You can visit the official GBTC website to swap your ETH or USDT for GBTC tokens on your compatible digital wallet. You can also buy with your bank card.
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