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The Bitcoin price has skyrocketed 113% in a year and is up 6.5% today to trade at $37,053 as of 3:15 p.m. EST.
On-chain analytic firm Look Into Bitcoin says the king of crypto’s ”Terminal Price” projection suggests it may soar to at least $110K for what would be an almost 200% increase from the current price.
Bitcoin Price: Technical Analysis
Looking at 1 hour BTC/USD charts, the Relative Strength Index indicator is on an upward trajectory as it now crosses above the midline. This signifies bull dominance on Bitcoin price as they push for the overbought region. The MACD is moving towards the green zone as bearishness now fades from the Bitcoin price.
The 5-day moving average has exceeded the 15-day moving average to form a golden cross. This shows bull dominance as they look to break the $37.9K resistance level. Looking at volatility, the Bollinger bands are moving close to each other, showing low volatility levels. These levels will likely decrease as whales look to hold with prospects of future gains. This can be seen in the decreasing trading volume, which slumped by 45% in the last 24 hours.
With the Bitcoin price looking to skyrocket, the new Bitcoin ETF Token could be poised to skyrocket upon launch due to the enthusiasm surrounding Bitcoin ETF approvals. The BTCETF pre-sale has raced past $406K within days of launch, showing the fast-growing community and investor enthusiasm.
What Is This Bitcoin ETF Token?
With the Bitcoin price looking set to explode, the Bitcoin ETF Token (BTCETF) stands out as an excellent way to turbocharge returns. The project seeks to enable investors to capitalize on the market effects of ETF approvals amid the hype surrounding spot Bitcoin exchange-traded funds.
BTCETF has devised a unique approach that aligns its design with Bitcoin ETF approval milestones. A portion of the token supply will be burned at each milestone, such as the approval date or the launch of the first ETF.
This deflationary mechanism reduces the supply from 2.1 billion to 1.57 billion, promoting token scarcity and incentivizing long-term holding. This poses the token for a massive skyrocket in price, possibly bigger than the anticipated surge in the Bitcoin price.
Identifying the Future! 🔍#BitcoinETF isn't just another #Cryptocurrency; it signifies a proactive approach that paves the way for #Bitcoin ETFs.
Built on #Ethereum, $BTCETF anticipates and harnesses this forthcoming development, offering exclusive benefits to its community. pic.twitter.com/UX7eWXgpBq
— BTCETF_Token (@BTCETF_Token) November 11, 2023
Dynamic Staking Incentives
Additionally, BTCETF offers dynamic staking incentives based on the duration token holders retain their tokens. The whitepaper outlines that 25% of the total supply is designated for staking, fostering network security and stability. Staking returns currently exceed 1,000% and will decrease as more BTCETF tokens are staked.
Early backers of BTCETF can take advantage of discounts and access to the token’s presale. This presale offers 40% of the total supply, amounting to 840 million tokens priced at $0.0052 each.
The presale aims to build a community and highlight the project’s distinctive value proposition, synchronizing with spot BTC ETF milestones. The presale will be divided into ten tiers featuring 84 million BTCETF tokens, allowing early supporters to maximize their purchasing opportunities.
Enhancing Liquidity and Reducing Transaction Taxes
Following the presale, BTCETF’s founders plan to list the tokens on decentralized exchanges (DEXs) to democratize access. During the launch, 10% of the BTCETF supply will be allocated to liquidity, and a transaction tax will be imposed.
Initially, BTCETF transactions will incur a 5% tax, with 5% of tokens being burned. The tax rate will gradually decrease by 1% with the achievement of real-world milestones, such as the first BTC ETF approval.
Ultimately, users who remain engaged with the project through significant events will enjoy a 0% transaction tax once all milestones are met. This tax reduction complements the token burn mechanism, benefitting BTCETF holders over time. As the Bitcoin price looks to explode, don’t miss out on the Bitcoin ETF Token pre-sale.
Get your BTCETF here.
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