Bitcoin (BTC) Price Prediction: Will BTC See a 15% Surge Amid Rising Interest in Wall Street Memes?

Updated: 25 September 2023

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The Bitcoin price has seen another drop after going under the $27k mark last week, now sitting just above the $26,000 level. The coin has seen a 2.4% drop weekly, while its price decreased by 1.8% in the last 24 hours alone.

In the first half of the last week, the Bitcoin price has been showing bullish signs, going up toward $27.25k, which has been its most substantial resistance level lately.

Beyond that, in rare instances when the price managed to breach this resistance briefly, the coin was trying to hit $27.5k, with some experts suggesting that doing so would allow it to skyrocket.

Therefore, the first half of the last week saw some volatility, as resistances rejected the price, but supports allowed it to bounce back up. However, on Thursday, September 21, BTC broke its support at $27k, sinking to $26.5k. Meanwhile, the coin encountered a strong resistance at $26.76k.

BTC was stuck between these two levels for three days, from Thursday evening to Sunday evening. At first, it saw rapid price fluctuations as it moved from one of these levels to the other. However, with the start of the weekend, the changes have softened, and BTC was trading flat.

Things changed again on Sunday, September 24, when the coin saw a sudden spike to $26.75k, only to drop down again and break the support at $26.5k, sinking to $26.10k. This is where it sits at the time of writing, with a price of $26,110.

Can Bitcoin Price Recover?

Moving forward, there is some optimism for the coin. Some believe the upcoming launch of Wall Street Memes (WSM), the most popular meme coin of this summer, which held a presale over the last few months, could drive interest in crypto, including Bitcoin itself.

WSM presale managed to raise over $25 million, moving from stage to stage every week throughout this summer, and it will finally see listing in only eight hours from the moment of writing.

Technical analysis also seems to expect the coin to surge. One analyst noted that BTC fell to the price reversal zone during the weekend and successfully formed a falling wedge pattern.

Now, they expect the coin to start its rise from the price reversal zone in the coming hours, after breaking the upper line of the falling wedge pattern, and at least increase to the resistance zone at $26.68k-$26.80k.

North Korean Hackers Amassed $40 Million in BTC

Bitcoin has seen some bad news lately, one of which says that a North Korean hacking group known as Lazarus had managed to amass over $40 million in BTC. The claim comes from Dune Analytics, which collected data on the wallets associated with the hacking collective.

The company claims that the hackers hold around $47 million in digital assets and over $40 million in BTC. On the positive side, the company also noted that the hackers used to hold $86 million in crypto on September 6, so their total crypto holdings have nearly been cut in half since then.

Bitcoin BSC Presale Closing in on $5 Million Raised

While the Wall Street Memes presale dominated the summer, the attention now seems to be on a new BEP-20 token called Bitcoin BSC (BTCBSC).

The Binance Smart Chain-based cryptocurrency represents a version of Bitcoin as it was in 2011. At the time, its price was only $1, so the project sold the token for $0.99.

The idea is to allow the crypto users of today to experience the opportunity to buy Bitcoin BSC before it blows up.

So far, many have expressed great interest in the opportunity. The project reached its soft cap of $3.96 million in under two weeks, and right now, it is about to hit a $5 million milestone.

Anyone purchasing the token can do so with BNB, USDT, or ETH.

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