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The Bitcoin price rose a fraction of a percent in the last 24 hours to trade at $60,779 as of 03:25 a.m. EST on trading volume that surged 25% to $25.7 billion.
This comes as Anthony Scaramucci, founder of SkyBridge Capital, remains confident that the price of Bitcoin will hit $100,000 at some point, although later than he had originally expected.
Scaramucci says the delay will be caused by regulatory ambiguities and market conditions.
Should you think of $BTC as a store of value? Skybridge Capital's Anthony Scaramucci talks about the digital asset and why he thinks it can still get to $100k. pic.twitter.com/QzX4XxcETj
— Squawk Box (@SquawkCNBC) August 22, 2024
However, Scaramucci stated that Bitcoin’s fundamentals are still intact, and the increasing adoption by institutions is a major bullish factor.
Bitcoin Price Aims For A Breakout
The Bitcoin price is now trading within the upper boundary of the sideways pattern as the bulls struggle to push BTC above the $61,326 resistance level, data from GeckoTerminal shows.
BTC has already crossed above the 50-day Simple Moving Average (SMA), a confirmation of the bullish trend.
Additionally, the Relative Strength Index (RSI) is rebounding from the 50-midline level, currently at 55 and still soaring, which indicates the asset is under intense buying pressure.
BTCUSD Chart Analysis Source: GeckoTerminal.com
If the buying pressure continues, the price of Bitcoin could soar, overcoming the 200-day SMA at $62,009, which now acts as the immediate resistance zone. The bulls are currently targeting prices above the $68,000 resistance zone.
Moreover, the Moving Average Convergence Divergence (MACD) also supports the bullish stance as it climbs above the neutral line.
Conversely, if the bears take control of the price at this level, the price of Bitcoin could plunge, with $56,747 acting as the immediate support zone.
Meanwhile, investors are buying the new meme coin The Meme Games (MGMES), which YouTube channel 99Bitcoins, with more than 706k subscribers, says has 100X potential.
Olympic-Themed The Meme Games – Best Crypto To Buy Now?
Blending the excitement of the Olympics with the crypto world, The Meme Games allows users to bet on meme characters in fun, competitive events.
The Meme Games introduces a gamified experience where users can bet on meme characters in Olympic-style events.
Dogecoin ($DOGE), Pepe ($PEPE), DogWifHat ($WIF), Brett ($BRETT), and Turbo ($TURBO) are the meme athletes that token holders can bet on.
Each time you buy MGMES, you have the chance to win a 25% bonus on your original purchase by betting on one of the meme athletes.
This is what happens when $TURBO has one too many espresso's. ☕️ #Paris2024 #Crypto #DOGE #BRETT pic.twitter.com/TngVhXoMvE
— The Meme Games (@MemeGames2024) August 8, 2024
Gaining rapid popularity, The Meme Games has already raised over $391,000 in its presale and is poised for its DEX listing on September 10.
The project also offers an impressive 495% annual percentage yield (APY) for those who buy and stake $MGMES tokens, further enhancing its appeal.
You can buy $MGMES tokens for $0.0093 each. But buy soon to lock in the best deal before a price hike strikes in less than two days.
To join the presale, buy $MGMES from the official website here using ETH, BNB, USDT, or a bank card.
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