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The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto.
During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement.
Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins.
The Bitcoin Price Bounces Off Of A Key Support
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, the crypto may try to flip the $68,863.99 barrier into support before possibly rising to as high as $72,564.10 in the short term.
This bullish thesis could be invalidated if the Bitcoin price falls below $61,481.65 in the coming 24-48 hours. Breaching this key level may expose BTC to the risk of correcting down to the subsequent support at $57,758.63 in the following couple of days.
The Bitcoin Price Is Triggering Major Bullish Technical Flags
Traders and investors will want to keep an eye on technical indicators on BTC’s 4-hour chart. The Moving Average Convergence Divergence (MACD) indicator is on the verge of triggering a major bullish technical flag, as the MACD line tries to cross above the MACD Signal line.
Meanwhile, a bullish technical flag was recently triggered by the Relative Strength Index (RSI). Over the past 24 hours, the RSI line rose above its Simple Moving Average (SMA) line on the 4-hour chart. This is generally seen as a signal that buyers have gained the upper hand against sellers, which could lead to the Bitcoin price rising in the coming 48 hours. A potential confirmation of this positive move could be when the MACD line crosses above the MACD Signal line to indicate that BTC has entered into a bullish phase.
While traders attempt to push the BTC price higher, investors are rushing to the Green Bitcoin presale.
Another Chance To Buy Bitcoin During Its Early Days
Bitcoin has been a trending topic in the last couple of weeks after it managed to set two new all-time highs within a short timespan.
Despite this stellar performance, the leading crypto’s growth potential is far lower than what it was when BTC was first launched. This has led to many investors trying to identify the next digital asset that will achieve the same stratospheric growth as BTC since launch.
Green Bitcoin, an eco-friendly alternative to the market leader, may be that next crypto gem.
Green Bitcoin is a more eco-friendly version of the leading cryptocurrency. To achieve this, the team has launched the crypto on the Ethereum Proof of Stake blockchain.
This specific consensus mechanism is known to be computationally cheaper than the legacy Proof of Work consensus that Bitcoin is built on top of. In addition to taking less of a toll on the environment, the token is also selling for a much lower price of just $1.1062.
Given BTC’s recent rally, it may only be a matter of time before retail investors move to cheaper Bitcoin derivative projects, such as Green Bitcoin, with a higher potential to skyrocket in the near future.
Investors have already caught on to Green Bitcoin’s potential for explosive gains, as its ICO races towards the $7 million milestone with $6.86 million already in the bag.
To celebrate $6M we’re launching our GBTC GIVEAWAYS!
To enter, simply: Like + RT + Tag a friend!
The first prize is a $200 GBTC Airdrop. THERE WILL BE MANY MORE! Winner will be announced in replies in 24hrs. pic.twitter.com/k0sxIFOMnQ
— GreenBitcoin (@GreenBTCtoken) March 18, 2024
Extra Rewards For Token Holders
Being an Ethereum-based project means that Green Bitcoin holders are also able to earn a passive income through staking. Anyone who buys and stakes Green Bitcoin’s token, GBTC, during its presale will gain access to up to 89% in annual rewards.
Nothing can stop the GREEN REVOLUTION!
Join the Green Bitcoin presale TODAY pic.twitter.com/YgwUk11Ay8
— GreenBitcoin (@GreenBTCtoken) March 11, 2024
But Green Bitcoin’s staking model is different from other similar types of programs since it introduces a gaming element into the mix.
Not only can investors earn based on the amount of tokens they have locked up, they are also able to earn extra bonuses by taking part in the project’s BTC price prediction challenges.
To win these additional prizes, token holders must accurately predict the leading crypto’s price within a specific “green zone.”
Learn more about GBTC and purchase it here.
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