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The Bitcoin price rose 10% in the last 24 hours to trade at $62,125 as of 00:14 a.m. EST on trading volume that surged 133% to $92 billion.
The surge in activity helped trigger a crash at top crypto exchange Coinbase, where some users encountered zero balances in their exchange accounts, prompting an investigation by the platform.
We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe.
You can track this incident at https://t.co/a3pl4WiDhZ— Coinbase Support (@CoinbaseSupport) February 28, 2024
Brian Armstrong, the CEO of Coinbase, said the issues were due to an unexpected surge in traffic as he apologized to affected customers for any inconvenience caused.
We are dealing with a LARGE surge of traffic – apologies for any issues you encounter. The team is working to remediate.
— Brian Armstrong (@brian_armstrong) February 28, 2024
The surge in market activity comes as Bitcoin soared past $64,000 for the first time since November 2021, before retracing. Trading volume also was boosted by surging purchases of spot BTC exchange-traded funds (ETFs).
Bitcoin Price Bullish, Poised to Break Above The Bullish Flag
Since mid-February, Bitcoin has been consolidating, with its value oscillating within the $50,000 range. This week, however, has witnessed substantial gains, demonstrating the bullish strength that has propelled the price into a markup phase.
Despite this uptrend, the surge in Bitcoin prices encountered resistance at the $64,000 mark, leading to a retracement to its current level.
Nevertheless, Bitcoin maintains its bullish momentum, aiming to surpass the upper boundary of the bullish flag pattern. Currently, Bitcoin is trading above the 50-day Simple Moving Averages (SMAs), further confirming its ongoing bullish trend.
The Relative Strength Index (RSI) is also bullish, trading at 63. If the momentum is sustained, BTC will likely push the RSI to the overbought region, indicating a looming bull run.
The slight retrace is evident with the moving average line crossing slightly below the signal line (orange) on the Moving Average Convergence Divergence (MACD) but with signs of a reversal. The green bars on the histogram further support a trend reversal as they diminish toward the zero line.
Additionally, the Average Directional Index (ADX) is currently trading at level 45, which indicates that the current bullish trend is very strong.
Bitcoin Price Prediction
The Bitcoin price analysis shows that Bitcoin is poised to trend further on the upside above the bullish flag. Additionally, the 50-day SMA is trading above the 200-day SMA, with a moving average cross at $51,552. The bulls aim to capitalize on these factors, pushing the price to $70,000, surpassing the all-time high (ATH) at $68,000.
However, if the bears take charge of the price at this level, they would push the price in a retrace to the $58,645 support zone, coinciding with the 50-day SMA.
As the Bitcoin price soars towards its ATH, investors are seeing Green Bitcoin as a compelling eco-friendly alternative to BTC.
Green Bitcoin Surpasses $1.2 Million In Funding – Best Green Crypto To Buy
Green Bitcoin (GBTC) is making waves across the crypto space, having raised over $1.2 million in its presale as it races towards its target of $1.247 million.
GBTC is the gamified version of Bitcoin, taking a unique approach to staking called “Gamified Green Staking.” This approach allows participants to engage in price prediction games for Bitcoin, making the investment experience interactive and entertaining.
Built on the Ethereum blockchain, GBTC follows a more sustainable proof-of-stake consensus mechanism, which is more eco-friendly than Bitcoin’s proof-of-work.
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
Through gamified green staking, users get to earn rewards just by predicting the future price of Bitcoin. To join the project, buy $GBTC at a discounted price of $0.4982 before it increases in less than four days.
Stake $GBTC, 252% Annual Rewards, 100X Potential Gain
Moreover, the platform offers an opportunity for passive income through the staking of $GBTC tokens, with an attractive annual percentage yield (APY) of 252%. To date, more than 2.2 million GBTC tokens have been staked, highlighting the platform’s popularity and the trust users place in its rewarding staking mechanism.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven't yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
The project’s Predict-to-Earn feature further opens another earning opportunity, where investors participate in daily BTC prediction challenges. If you predict correctly, you get $GBTC rewards after every 10 minutes.
Alessandro De Crypto, a crypto YouTuber, says the project has the potential to surge 100X on launch.
https://www.youtube.com/watch?v=JubQhMozlOA
To participate in the presale, 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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