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The Bitcoin price surged 7% in the last 24 hours to trade at $61,031 as of 5 a.m. EST on trading volume that went up 9% to $43.5 billion.
The world’s first and oldest cryptocurrency is still about 5% down on the weekly chart, meaning that the recovery seen in the last four days was not enough for BTC to make up for the losses seen before that. However, the coin has still seen a 100% price increase in the last 12 months, even though it is far from its ATH at the moment.
Bitcoin Price Prediction
Bitcoin saw a strong surge in the last 24 hours, which managed to bring it back above the $60K mark, but the coin lost its momentum after approaching the $62K barrier earlier. Since then, it spent about 12 hours trading sideways with small fluctuations.
However, traders who are interested to know what will happen next should consider technical indicators such as Bollinger Bands, which are currently fairly narrow. This could be a bearish signal in and of itself. But, while the bands remain narrow, the Bitcoin price has been trying to push the higher band further up, and it would often fluctuate between this band and the central zone between the two bands, rarely going to the lower one.
This itself looks promising, especially when coupled with the crypto’s Relative Strength Index (RSI).
The RSI value has been going to the edges of the neutral zone in the last 12 hours as well, although it would sometimes sink to the oversold zone. This suggests that traders have been very cautious when it comes to buying, and very quick to sell. All of this points at great uncertainty in the market right now, as many seem to expect a new bearish wave to push BTC below the $60K mark, and that may very well happen.
What’s more, the coin’s RSI also saw two spikes toward the overbought zone in the last few hours. It did not reach it, but it shows that traders are getting more relaxed. This level of calm will likely increase in time if the coin manages to maintain its current level. The optimism is also slowly building up, and that alone could help BTC go back to the $62K mark. BTC might even rise above this point over the weekend.
Promising Alternative To Bitcoin
Right now, Bitcoin continues to struggle to remain above the $60K mark, and while there is reason to believe that the coin will go up shortly, many are looking for other, less risky opportunities. Bitcoin is a high-risk, high-reward type of investment, but projects like Base Dawgz (DAWGZ) have a chance at being much more rewarding while being accompanied by significantly lower risk.
Base Dawgz is one of the newer meme coins, which already makes it an investment worth considering, given that the meme coin sector exploded in 2024 more than ever before. However, Base Dawgz’s potential goes far beyond that.
Developed on the Base blockchain, DAWGZ was designed to run on five different blockchains simultaneously after its ICO ends and the project launches. These networks include its native Base chain, as well as Avalanche, Ethereum, Solana, and BSC.
In other words, five of the largest and busiest chains in the industry will all be connected through DAWGZ, which will be able to provide true interoperability.
This will be possible thanks to the project’s use of Portal Bridge and Wormhole technologies, which will enable the seamless transfer of funds from chain to chain, without needing wrapped tokens, stablecoins, or required investors to convert one token to another.
As such, DAWGZ will be able to unlock the full potential of all five chains and let you access any opportunity on any of them at any time.
Congrats on passing 2.8 million $DAWGZ 🥳
We’re getting closer. And hopefully we can give you an update next week 🤝 pic.twitter.com/mRvjOMwD6F
— Base Dawgz (@BaseDawgz) August 3, 2024
This is why its presale has been a major success, raising over $2.85 million as of the time of writing, and why major crypto experts, such as YouTuber ClayBro, believe it has a massive chance to blow up and even challenge projects like Shiba Inu.
You can join Base Dawgz right now by purchasing its DAWGZ token for $0.007414 using either USDT, USDC, ETH, BUSD, BNB, SOL, or AVAX.
Visit DAWGZ’s official website.
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