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The Bitcoin price edged up a fraction of a percent in the last 24 hours to trade at $99,215 as of 02:36 a.m. EST on trading volume that plunged 18% to $55.4 billion.
This comes as Ethereum co-founder Charles Hoskinson say Bitcoin could soar to $250,000–$500,000 within the next 12–24 months, citing strong investment inflows and growing interest in the cryptocurrency market.
“This will translate to an ecosystem whose value is starting to approach that of gold – an asset humans have used as a store of value for over 5,000 years,” Hoskinson said.
Bitcoin Price Aims To Sustain Its Bullish Trend
The Bitcoin price has been in a sustained bullish rally, after the asset capitalized on the $69,000 level at the beginning of November. According to data from GeckoTerminal, BTC is now recording higher highs and higher lows, trading within the rising channel pattern.
BTC price has maintained its position over the 50-day and 200-day Simple Moving Averages (SMAs), which supports the continued uptrend.
The Relative Strength Index (RSI) is currently at 54, which shows a neutral-to-bullish reading, indicating that the asset is not overbought or oversold.
Meanwhile, the Moving Average Convergence Divergence (MACD) supports the current bullish trend, as the price of Bitcoin is rebounding from the lower channel of the rising channel pattern. The blue MACD line is also crossing above the orange signal line, forming a bullish crossover.
If the current bullish outlook continues, the Bitcoin price could surge even further, as the bulls aim at breaching the $100,000 next resistance, targeting $110,000 in the long-term.
However, if the bears gain some control at the current level, BTC could plunge to the 200-day SMA at $83,230, acting as a cushion against downward pressure.
As the Bitcoin price aims for a bullish rally, investors are snapping up the Crypto All-Stars (STARS) presale, which is closing on $7 million in funds raised.
ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, says $STARS has the potential to soar 10X after its launch.
Crypto All-Stars Raises Over $6.9 Million – Presale Ends Soon
Crypto All-Stars has raised over $6.9 million as investors pile into the innovative project before its presale closes in less than 21 days.
C͏rypto All-S͏t͏a͏r͏s b͏ring͏s the M͏emeVault eco͏syste͏m to the cryp͏to wor͏l͏d, enabling users to stake popular meme coins like DOGE, SHIB, and PEPE in one place for the first time, while earning STARS tokens as rewards.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
Another eight meme coins can be staked on the platform from the outset: Floki Inu, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. And there are plans for more to be added.
You can also earn passively through the project’s native staking mechanism, which offers a stunning 302% annual percentage yield (APY).
You can buy STARS tokens now for $0.0016384.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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