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The Bitcoin price climbed 2% in the last 24 hours to trade at $60,645 as of 03:11 a.m. EST on trading volume that surged 30% to $34 billion.
This comes as Jenny Johnson, Franklin Templeton’s CEO, says that traditional finance (TradFi) is underestimating the enormous scale of Bitcoin transactions.
In 2023, the Bitcoin blockchain processed over $36.6 trillion in transactions as the market recovered from a tough year, more than Visa and Mastercard combined, Johnson said.
Bitcoin Price Aims For A Bullish Rally
The Bitcoin price has been trading within a sideways pattern, as the bulls and the bears battle it out within a consolidation phase. BTC has been trading between the $61,000 resistance and the $56,670 support, according to data from GeckoTerminal.
The price of Bitcoin has now crossed above the 50-day Simple Moving Average (SMA) as the bulls aim to prompt a bullish stance to the upside. If the bullish rally continues, the price of Bitcoin could surpass the immediate resistance at $62,135, coinciding with the 200-day SMA.
Moreover, the Relative Strength Index (RSI) trades in equilibrium, currently at 55, which supports the token being in consolidation.
The Moving Average Convergence Divergence (MACD) is also bullish, as it crosses above the neutral line. The green bars on the histogram are also extending beyond the zero line, showing that the asset is on a positive momentum.
According to the Bitcoin price analysis, BTC shows signs of an incoming bullish rally, with the price already retrying the resistance zone. BTC could soar if the bullish stance is prompted at this level, as the bulls target $66,700.
However, if the bears take control of the price at this level, BTC could go through a correction, with $56,000 acting as immediate support.
As the Bitcoin price surges, investors are rushing to buy a new meme coin called Crypto All-Stars (STARS), which YouTuber Jacob Bury says has the potential to soar 10X after launch.
Crypto All-Stars Presale Garners Over $634K In A Week – Best Meme Coin To Buy Now?
A little more than one week after it launched, Crypto All-Stars has already raised over $634,000 even as the crypto market slumped.
The project is the first in the industry to introduce multiple meme coin staking, regardless of the blockchain, on a single staking protocol.
Crypto All-Stars’ standout feature is its MemeVault protocol, which allows holders of popular meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to stake their tokens together.
A brand-new player in the meme coin space, Crypto All-Stars just launched within the past 24 hours, and it’s already making waves! 🌊
Here’s why you should pay attention. 🧵👇
— web3telepath (@web3telepath) August 15, 2024
This means that investors can earn rewards in the native $STARS token, simplifying the staking process for multiple meme coins.
The meme coins that can be staked on Crypto All-Stars include Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
Currently, investors can take advantage of a stratospheric annual percentage yield (APY) of around 2,345% by staking their acquired tokens.
With the presale price of $STARS at just $0.0013966, now is the ideal time to secure your investment.
The price will increase in less than a day so interested investors should buy soon to secure the best deal.
You can purchase $STARS directly from the project’s official website here using ETH, BNB, or credit cards.
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