Bitcoin Price Prediction: BTC Pumps 3% After Michael Saylor Boosts Bitcoin Holdings By $593 Million, But Time Is Running Out To Buy This Coin Primed To Explode On Bitcoin ETF Approvals

ByEvans Karanja

Updated: 01 December 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The Bitcoin price has soared 3% in the last 24 hours to trade at $38,585 as of 11:45 a.m. EST as trading volume rose 12% to $21.5 billion.

The surge came after news that MicroStrategy’s CEO, Michael Saylor, had added 16,130 BTC worth $593 million to the company’s holdings.

MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/hSEZyzGBsr

— Michael Saylor⚡️ (@saylor) November 30, 2023

The November acquisition raised their Bitcoin holdings by over 10% to 174,530 BTC, with an average acquisition cost of $30,252 per coin. Saylor purchased the latest batch at an average price of $36,785 per coin.

Bitcoin Price: Bulls Push Price Above Ascending Triangle

Bitcoin Price Chart Analysis. Source: GeckoTerminal.com — BTCUSD Chart Analysis. Source: GeckoTerminal.com

A recurring pattern of an ascending triangle is evident as bullish momentum drives the cryptocurrency upward, breaching the $38,000 resistance level.

The current Bitcoin price is above the 50-day and 200-day simple moving averages, reinforcing the prevailing bullish sentiment and potentially establishing a long-term support foundation.

The Relative Strength Index (RSI) at 64 also signals a rebound, indicating increasing buying pressure.

Conversely, bears are still hovering around the $38,000 resistance level. They could apply downward pressure and retrace the price to the $35,500 support level, aligning with the lower boundary of the ascending triangle.

Bitcoin ETF Token Nears $2.5 Million Goal, Price Hike In 15 Hours

With anticipation building for the potential approval of a spot Bitcoin ETF by January 10, investors are swiftly acquiring BTCEFT tokens. These may be worth considering for investors interested in a leveraged play on Bitcoin itself with more risk but potentially huge rewards.

The Bitcoin ETF token represents an innovative venture to capitalize on Bitcoin’s ongoing success.

The #BTCETF #Token stands as more than a typical #DigitalCurrency; it's a forward-thinking initiative shaping the future of #Bitcoin ETFs. 🌟

Leveraging #Ethereum, #BitcoinETF foresees and embraces this forthcoming evolution, presenting exclusive advantages to its user base. pic.twitter.com/inReCyJ3Ax

— BTCETF_Token (@BTCETF_Token) November 28, 2023

A green light for a spot Bitcoin ETF is expected to trigger a surge in Bitcoin’s value, propelling the BTCEFT token to new heights.

🇨🇭 Switzerland's @PandoAsset enters the US spot #Bitcoin #ETF race among a surge of applicants, including @BlackRock and @Fidelity, hinting at a potential shift in the #Crypto landscape. 💭#BitcoinETF also achieves a groundbreaking milestone, raising more than $2 Million! 🚀 pic.twitter.com/NyGzDQIMkf

— BTCETF_Token (@BTCETF_Token) November 30, 2023

Presently in its sixth presale phase, the project has already accrued an impressive $2.1 million in funding and is approaching its $2.5 million milestone.

The opportunity to reap the rewards of this project is available through the acquisition of BTCEFT tokens at a current price of $0.006.

This price will progressively increase in subsequent stages until it reaches its final launch price.

Just 24 hours left till the end of #BitcoinETF Stage 6! 🚀 Keep watching! pic.twitter.com/UbaheRgNds

— BTCETF_Token (@BTCETF_Token) December 1, 2023

Passive Income: Stake Your BTCETF Tokens For 119% APY

Beyond simply acquiring tokens and waiting for their value to appreciate, investors now have the enticing opportunity to stake their BTCEFT tokens. This allows them to earn passive income. Currently, the Bitcoin ETF offers an exceptionally attractive annual percentage yield (APY) of 119%.

Of the 525 million BTCEFT tokens allocated for staking, 218 million tokens have already been staked. The staking rewards will be distributed over 5 years.

Popular YouTuber and crypto analyst Michael Wrubel has expressed his bullish stance on BTCEFT in a review video. He believes the project holds significant potential for explosive growth, especially upon approval of a spot Bitcoin ETF.

Visit the official Bitcoin ETF Token website, connect your wallet, and exchange ETH, BNB, MATIC, or USDT for BTCETF. Alternatively, you can use your bank card to make the purchase.