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The Bitcoin price rose 1.5% in the last 24 hours to trade at $73,517 as of 03:47 a.m. EST on trading volume that surged 18% to $64 billion.
This comes amidst a competition to amass the most Bitcoin (BTC) between fund manager BlackRock and Michael Saylor’s MicroStrategy. MicroStrategy recently added 12,000 BTC to its reserves, bringing its total holdings to 205,000, now valued at over $14.8 billion.
BlackRock is not far behind, with a stash of 197,943.2 BTC worth more than $14.37 billion.
BLACKROCK IS NOT SLOWING DOWN
FOLLOW THE MONEY#Bitcoin pic.twitter.com/kZGdyNe1xg
— Thomas | heyapollo.com (@thomas_fahrer) March 13, 2024
BlackRock also is looking to expand its cryptocurrency engagement by seeking to include spot market BTC exposure in a proposed in-house investment fund, as detailed in a recent amendment to a prospectus filed with the U.S. Securities and Exchange Commission (SEC).
Bitcoin Price Bulls Aim To Continue With The Bullish Stance
The Bitcoin price has been rising gradually since 2023 and continues to rally even more this year. The price hit resistance at $49,142 in January 2024, where the price went in a light retrace back to the support zone at $38,600. This pullback formed the handle pattern.
BTC bulls have used this level to catapult the price even higher, hitting a new all-time high (ATH) of $73,603 as they aim to sustain the positive momentum.
Bitcoin is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish momentum. Additionally, the Relative Strength Index (RSI) is trending upwards within the overbought region at 79, indicating intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, with the moving average line (blue) crossing over the signal line (orange), which represents a bullish crossover. Investors often use a bullish crossover as a signal to add to their buying positions, which could soar the price even higher.
The green bars on the histogram also extend beyond the zero line, which shows that the current trend is moving with positive momentum. Additionally, the Average Directional Index (ADX) is in support of this, as it trades upwards at level 57, indicating that the bullish trend is very strong.
Bitcoin Price Prediction
The long-term analysis of the Bitcoin price shows that the price is on sustained bullish momentum. The bulls are looking to capitalize on the cup and handle pattern, which may cause the price to soar to the $85,000 level.
However, the RSI has already crossed the overbought region, an indication of a looming price correction. In this scenario, the bears may initiate a selling spree, which may drive the price down to the support zone at $53,000, coinciding with the 50-day SMA.
Meanwhile, as the BTC price soars, many experts say new ICO Green Bitcoin might be the best crypto to buy now as the Bitcoin halving date nears.
Green Bitcoin Hits $3.9 Million – Best Eco-Friendly Crypto To Buy
The Green Bitcoin (GBTC) has amassed over $3.9 million in funding as it hurtles towards its target of $4.171 million.
The project combines the reputation of Bitcoin and the environmental sustainability of the Ethereum blockchain to capture the attention of the crypto community.
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
GBTC is a more eco-friendly alternative to Bitcoin and uses the Gamified Green Staking model to award users after they predict the future price of Bitcoin.
Using its Predict-to-Earn feature, the project rewards its users for guessing whether the Bitcoin price will rise or fall the next day.
Stake $GBTC, Earn Passively
There’s an opportunity to earn passively with the project’s staking option, where you can stake $GBTC tokens and earn an impressive annual percentage yield (APY) of 126%. There are almost 4.6 million tokens that have already been staked.
According to YouTube channel Crypto Gains, Green Bitcoin has the potential for massive returns on investment after launch.
To participate in the presale, simply purchase $GBTC at a reduced price of $0.8782 before it increases in less than five days.
Nothing can stop the GREEN REVOLUTION!
Join the Green Bitcoin presale TODAY pic.twitter.com/YgwUk11Ay8
— GreenBitcoin (@GreenBTCtoken) March 11, 2024
You can buy $GBTC from the official Green Bitcoin website and exchange ETH or USDT for $GBTC tokens. You can also buy directly using your bank card.
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