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The Bitcoin price has climbed 2.5% in the last 24 hours to trade at $68,319 as of 8:05 p.m. EST on a 37% drop in trading volume to $36.3 billion.
The surge comes as Standard Chartered has raised its year-end forecast for Bitcoin (BTC) to $150,000 from $100,000.
It predicts the king of cryptos will soar to $250,000 next year before stabilizing at around $200,000.
Bitcoin Price Bulls Set For A Rally Above The Consolidation Channel
BTCUSD Analysis by Tradingview
The price of Bitcoin has been steadily rising, surpassing the $69,000 resistance level and hitting a new all-time high (ATH) of $73,737. The formation of a consolidation channel resembles a bullish pennant pattern, suggesting potential for further price increases by the bulls.
However, the bears have taken charge of the price, driving it down in a corrective stage within the channel. If the downturn continues, the price may fall back to the $60,000 support zone.
The price has slipped below the 4-hour chart 50 Simple Moving Average (SMA) as the bulls try to keep it afloat above the 200 SMA, which currently supports the Bitcoin price. Moreover, the 50 SMA crosses above the 200-day SMA at $43,248, affirming the general bullish momentum.
The Relative Strength Index (RSI) trades at 46, rebounding towards the 50 midline level. If the bulls sustain the bullish stance, the RSI could easily surge to the 70-overbought region, indicating increased buying pressure.
Bitcoin Price Eyes $80,000 Mark As The Next All-Time High
The consolidation channel’s formation may trigger the bullish pennant pattern, providing an upside potential for the bulls to increase prices. If this happens successfully, the bulls could be eyeing the $80,000 mark.
However, if the current correction is sustained, the price could decline downward, slipping back to $60,000, affirming the bearish downtrend.
As bulls strive to regain Bitcoin’s all-time high, investors are showing increasing interest in Green Bitcoin, an environmentally friendly alternative to BTC. They believe that Green Bitcoin has the potential to experience significant growth, especially with the upcoming Bitcoin halving event.,
Green Bitcoin Presale Closes In On $6.48 Million Target
The Green Bitcoin (GBTC) presale has amassed over $5.9 million in early funding as it races towards its target of $6.48 million.
Green Bitcoin is an eco-friendly iteration of Bitcoin focused on environmental sustainability. This initiative merges Bitcoin’s traditional attributes with the eco-conscious characteristics inherent in the Ethereum network.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
Predict-To-Earn With GBTC
The project allows users to earn rewards through the unique Predict-to-Earn feature. Token holders predict Bitcoin’s daily price movements with successful predictions earning rewards based on accuracy and how much was staked. This gamified approach resets daily, ensuring continuous engagement and participation.
Over 27% of the token supply is allocated to rewards to ensure a substantial pool of incentives for accurate BTC price predictions.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven't yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
Earn 95% APY On Staking GBTC
Investors can also earn passively through the platform’s staking option, where they can readily buy and stake $GBTC, earning an impressive 95% annual percentage yield (APY).
Popular YouTuber and crypto analyst Matthew Perry praises GBTC’s Predict-to-Earn model and says the token’s potential ”looks absolutely amazing.”
You can buy now at a reduced rate of $1.0682 per $GBTC token before its price increases in less than five days.
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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