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The Bitcoin price rose a fraction of a percent in the last 24 hours to trade at $52,229 as of 8:15 a.m. EST.
But analysts remain bullish on the king of cryptocurrencies. Jan Happel and Yann Allemann, the co-founders of Glassnode, say that Bitcoin (BTC) could soar as high as $65,000 amid FOMO (fear of missing out) after the BTC price blasted past $52,000.
“BTC has left the building,” they tweeted under the pseudonym Negentropic. “Or more correctly, has taken off in a big way! Next we see at $58,000 before $65,000. ATHs here we come! The big BTC bull continues.”
Remember the "massive pullback" in #BTC in January 2024?
Try see if you can spot it here….😉 BTC now close to surpassing the level from intro of BTC ETF.
Major rallies are accompanied with large pullbacks. That is simply the name of the game!
Embrace it – or don't put your… pic.twitter.com/ZPjhaMlHlW— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) February 12, 2024
Bitcoin Price Breaks above $52,000 Resistance, Poised To Surpass $69,000 ATH
The Bitcoin price has broken above the cup and handle pattern as bulls aim to surpass the all-time high of $69,000.
BTC/USDT Analysis by Tradingview
The cup and handle pattern above support the anticipated bull rally past the bitcoin price’s all-time high of $69000. The price has crossed above the cup’s neckline, signalling traders to add more buy positions.
The technical indicators are generally bullish. The 50-day and 200-day simple moving averages (SMAs) provide immediate price support, giving the bulls the launchpad to push prices higher. Furthermore, the SMAs indicate a golden cross at $29,000, affirming the momentum.
The Relative Strength Index (RSI) is trending above the overbought level of 70 at 82, indicating intense buying pressure for the Bitcoin price.
The MACD trades above the neutral position, with the blue line crossing the orange signal line. The positive histogram, trading above the neutral position, confirms the bull rally ahead.
Bitcoin Price Targets New ATH At $80,000
The bulls have shown resilience, pushing the price back up above the $50,000 level and forming the handle part of the pattern after a short correction by the bears.
The buyers are now capitalizing on the cup and handle pattern, signalling a bullish trend as the Bitcoin price aims to reach a new all-time high of $80,000 in the coming weeks. This amounts to a 55% increase from its current price, a climb equivalent to the depth of the cup.
Even amid the bullish outlook for Bitcoin, investors with an appetite for higher risk might want to consider a Bitcoin derivative that’s primed to ride on its coattails, only with greater upside potential to match the risk profile. BTCMTX is one such project.
A Promising Cloud Mining Project With Potential 100x Gains
Bitcoin Minetrix aims to make Bitcoin cloud mining cheaper and more secure through decentralization. The platform offers access to cloud mining at a low entry compared to other cloud mining platforms, and enables investors to earn BTC through its stake-to-mine feature.
https://Twitter.com/bitcoinminetSTM/status/1757474165601218687?s=20
BTCMTX token holders must stake the tokens to earn credits as rewards, which they then must burn through the stake-to-mine feature. Staking the BTCMTX tokens earns a lucrative 62% annual return.
Investors who buy and hold BTCMTX tokens also can participate in the $30,000 minedrop airdrop competition, in which ten lucky winners each win up to $3,000.
Get BTCMTX For 10X Gains, Presale Closes On $11 Million
Crypto analyst and YouTuber Jacob Bury says BTCMTX has the potential to 10X on launch.
The potential is clearly seen in the way investors are snapping up BTCMTX tokens, with $10.98 million already raised as it races towards its $11.85 million target
BTCMTX tokens are currently priced at $0.0135 each, but, with a hike coming in less than four days, now is the time for interested investors to act to secure the lowest price.
You can buy the tokens via the BTCMTX official website by swapping ETH or USDT. You can also use a bank card.
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