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The Bitcoin price rose 2.5% in the last 24 hours to trade at $51,443 as of 04:45 a.m. EST on trading volume that surged 3% to $40 billion.
The current price increase comes as Skybridge founder Anthony Scaramucci says that it is not too late to buy Bitcoin, which has surged 19% in the last week.
With #Bitcoin back over $50k, average investor again wondering: "did I miss buying opportunity?" Answer is hard "no." Interest rates falling, spot ETFs driving billions in new flows, halving two months away. Face-ripping rally incoming IMO.
— Anthony Scaramucci (@Scaramucci) February 12, 2024
Scaramucci says BTC could soar even further now that interest rates are falling and spot Bitcoin ETFs (exchange-traded funds) are driving billions in new inflows. With the halving also expected to occur in two months, Scaramucci sees now as a great opportunity to buy more BTC. He also believes that markets may be underestimating the potential growth of Bitcoin ETFs in future.
Looks like consensus estimate for #Bitcoin– ETFs at $10-$15BN is going to be low. 🚀
— Anthony Scaramucci (@Scaramucci) February 14, 2024
Bitcoin Price Breaks Above The Bullish Pennant
This month, the price of Bitcoin experienced a significant surge following a period of consolidation, during which the price stabilized around $40,000. This stability provided a solid foundation for bullish traders to initiate a rally. As a result, the bulls successfully propelled the price through a markup phase, elevating it to $50,000.
BTC has now breached the upper boundary of the bullish pennant pattern, signaling a continuation of the bullish trend.
Additionally, the BTC price is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), further supporting the bullish sentiment. The Relative Strength Index is trending upwards at 72, which is above the overbought threshold of 70. This rise from the 50-midline level suggests significant buying pressure.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) tends to be rebounding from trading below the signal line (orange), which signals a continuation of the upward trend.
This is further supported by the movement of the bars in the histogram, which shows that the price is bound for a rally, strengthening the bullish prospects for the BTC price. The Average Directional Index (ADX) is at 53, showing a very strong trend currently, which confirms the bullish momentum.
Bitcoin Price Prediction
The current Bitcoin price long-term technical analysis indicates that BTC is on bullish momentum, as confirmed by the price breaking above the bullish pennant pattern.
As the RSI is trading above 70, there could be a possible correction of the price to create more positions for the bulls. If such a scenario happens, the price could retrace back to $48,317, a footing that will allow the bulls to rally the price to a new high at $56,000.
The bullish trend in Bitcoin’s price is positively influencing Bitcoin Minetrix (BTCMTX), a BTC derivative that’s experiencing exponential growth in its presale. Investors eager to diversify their exposure to Bitcoin might well consider this token.
BTCMTX Secures $10.8 Million – Best Alternative to Bitcoin To Buy Now For 10X Returns
Bitcoin mining has been an expensive endeavor for a long time now, but not anymore. Bitcoin Minetrix is a cutting-edge, decentralized cryptocurrency project that aims to fix the problem of high hardware costs and deceptive scams that prevent people from mining Bitcoin.
Welcome to #BitcoinMinetrix: Your entrance to streamlined #Bitcoin mining! 🚀⛏️
Experience tokenized cloud mining, making $BTC mining accessible to all securely and transparently.
Bid farewell to third-party scams and seize control of your mining adventure! 🌐🔒 pic.twitter.com/iDRQH94Y74
— Bitcoinminetrix (@bitcoinminetrix) February 13, 2024
This innovative approach has brought in significant interest and investment from the crypto community. The Bitcoin Minetrix presale has already raised over $10.8 million in early funding as it hurtles towards its $11.5 million target.
BTCMTX tokens are currently priced at $0.0133, but the price will increase in less than one day, offering a quick gain if you buy now.
Buy And Stake BTCMTX, Win $30K Minedrop
You can also buy and stake your BTCMTX tokens and receive a high annual percentage yield (APY) of 63%. Over 665 million tokens have already been staked. When you stake, you automatically get tradable ERC-20 token credits, which are burned in exchange for BTC cloud mining power.
Moreover, taking part in the platform’s buying and staking process automatically places you as a contender in the $30,000 minedrop competition. Ten winners will be selected from all the entries, each receiving a $3,000 prize.
🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
Jacob Bury, a YouTube crypto analyst, says that BTCMTX has the potential to go 10X after launch.
To take part in the presale, visit the BTCMTX official website and swap your ETH or USDT for BTCMTX. You can also make purchases directly using your bank card.
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