Bitcoin Price Prediction: Bernstein Says BTC May Hit $90K By Year-End As This Green Alternative Presale Hurtles Towards $8 Million

The Bitcoin price dipped slightly in the last 24 hours to trade at $66,399.80 as of 3:00 a.m. EST as investors trimmed holdings going into the weekend.

Despite this minor drop in BTC’s value, analysts at Bernstein maintain a bullish outlook towards the crypto for 2024. In a recent report, Bernstein raised its year-end target for BTC to $90K from $80K previously.

The Bitcoin Price Breaks Above A Major Resistance

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price printed a second higher low on its 4-hour chart in the last 12 hours. This not only led to the leading cryptocurrency rising above the $65,847.29 resistance level, but also resulted in the formation of a positive trend line.

Should BTC close the next two 4-hour candles above this threshold, it could have a strong technical platform to break away from. This may lead to the crypto king attempting a challenge at the $68,863.99 barrier before potentially rising to as high as $72,564.10 in the short term.

However, a break below the recently-breached $65,847.29 mark in the coming 12 hours may invalidate this bullish thesis. It will also place the Bitcoin price below the aforementioned positive trend line.

As a result, the crypto could be at risk of correcting to the next key support level at $61,481.65 in the following 48 hours. Continued sell pressure at this point could even drag BTC’s value down to as low as $57,758.63.

The Bitcoin Price May Keep Rising As Technicals Flag Bullish

Technical indicators on BTC’s 4-hour chart suggest the Bitcoin price may keep climbing in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are flagging bullish.

The MACD line is breaking away above the MACD Signal line on the 4-hour chart. This not only indicates that the Bitcoin price is in a positive trend, but also signals that the bullish momentum is growing stronger. BTC’s 4-hour RSI also shows bullish sentiment, as the RSI is breaking away above its Simple Moving Average (SMA) line. Traders generally see this technical occurrence as a sign that buyers are stronger than sellers. As such, it could be easier for bulls to push the Bitcoin price higher in the coming 24 hours than it will be for bears to drag it down during the same period.

While buyers attempt to push the Bitcoin price higher, some investors are turning their attention to Green Bitcoin as an alternative way to play BTC, and with potentially 100X upside.

Could This Altcoin Be The Next Bitcoin?

Green Bitcoin is an Ethereum-based token that aims to be a more eco-friendly version of the leading cryptocurrency. At the heart of its mission is Ethereum’s Proof of Stake consensus mechanism, which has been proven to take less of a toll on the environment than Bitcoin’s Proof of Work consensus.

In addition to being more environmentally friendly, Green Bitcoin also gives investors access to a staking program, which is currently offering 84% in annual rewards.

There is also the potential to earn extra bonuses through staking Green Bitcoin’s native token, GBTC. To stand the chance to receive these bonuses, token holders will have to try and guess the future price of BTC. The bonuses will then be paid out to any predictions that fall within a “green area” of the actual price.

GBTC could offer investors who missed out on purchasing BTC under $1 a second chance to get in early on a promising speculative opportunity.

And even if GBTC does not witness an as extreme price ascent as Bitcoin did in its early days, it still has a higher earning potential than BTC given its much lower price and the staking rewards it offers investors.

Investors Rush To Get A Hold Of GBTC

Investors are buying into GBTC at a rapid pace during its presale phase. This is evident in the substantial amount of capital the ICO has raised to date, as the project crosses $7.5 million in funding.

Nothing can stop the GREEN REVOLUTION!

Join the Green Bitcoin presale TODAY pic.twitter.com/YgwUk11Ay8

— GreenBitcoin (@GreenBTCtoken) March 11, 2024

It is not too late for investors to purchase this crypto, which is currently selling for $1.1062. Buying the token is a straightforward process as well. Investors will just need to navigate to the project’s official website, connect their wallet to the ICO platform, then specify how many GBTC they want to buy.

The crypto can be purchased using either ETH, USDT or bank card. For investors that do not want to pay high network fees on the Ethereum blockchain, BNB can also be used as a payment method.

GBTC can be purchased here.

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