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The Bitcoin price rose almost 5% in the last 24 hours to trade at $71,869 as of 00:32 a.m. EST on trading volume that surged 77% to $64 billion.
This comes as asset manager VanEck says it will reduce all sponsor fees to zero for the first $1.5 billion of funds in its Bitcoin Trust ETF (exchange-traded fund) until March 31, 2025.
IMPORTANT UPDATE!
Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*
*During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire…
— VanEck (@vaneck_us) March 11, 2024
Since its approval by the US Securities and Exchange Commission (SEC) on January 10, the VanEck Bitcoin Trust ETF has garnered around $298 million in assets under management.
Bitcoin Price Set To Sustain Its Bullish Momentum Within The Rising Channel
The Bitcoin Price has continued to rally, showing massive moves since November of last year, followed by a consolidation phase in December and January, as BTC traded within the $45,000 range.
However, the bulls continue to showcase their stance, having pushed the price higher in February and March, pushing it through the boundaries of the rising channel.
BTC is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish momentum, with the golden cross formed at $28,500.
The Relative Strength Index (RSI) also shows a strong move by investors, who have remained optimistic and intensified their buying, with the RSI trading within the overbought region at 78.
Furthermore, the Moving Average Convergence Divergence (MACD) is also bullish, as the moving average line (blue) crosses above the signal line (orange), representing a bullish crossover. A bullish crossover acts as an encouragement for investors to add more buy positions, which may likely push the price even higher.
The green bars on the histogram are also forming over the zero line, indicating that the current momentum is positive. Additionally, the Average Directional Index (ADX) is currently moving to the north at 56, showing a very strong bullish trend.
Bitcoin Price Prediction
The long-term analysis of the Bitcoin price shows a bullish bias, as the bulls sustain the price movement within the rising channel. The RSI, ADX, and MACD all show bullish sentiment, which is an encouragement for optimistic investors. These factors offer ground for the bulls to push the price even higher, as they aim for $90,000.
However, the RSI has already gone past the overbought region, which may suggest an incoming price correction. In such a scenario, it may open up a space for the bears to sell, driving the price down through a retrace back to the support zone at $52,466, a level coinciding with the 50-day SMA.
As the Bitcoin price bulls collect massive gains from the current surge, investors are also considering Green Bitcoin as a worthy eco-friendly alternative to the king of cryptos.
Crypto Gains, a prominent YouTube channel with over 122,000 subscribers, says that Green Bitcoin has the potential for massive gains.
Green Bitcoin Hits $3.4 Million In Crypto ICO
Green Bitcoin (GBTC) is a new, low-market-cap crypto that gives its users staking rewards and a low entry price, as it aims to make use of Bitcoin’s growth while solving sustainability issues.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
The project rewards its users for guessing whether Bitcoin’s price will rise or fall in the next day using a unique Predict-To-Earn model.
Being an environmentally friendly and gamified alternative to Bitcoin, the project continues to gain significant support from the community, raising over $3.4 million.
Nothing can stop the GREEN REVOLUTION!
Join the Green Bitcoin presale TODAY pic.twitter.com/YgwUk11Ay8
— GreenBitcoin (@GreenBTCtoken) March 11, 2024
Buy And Stake $GBTC, 135% Annual Rewards
You also have the opportunity to buy and stake $GBTC for an impressive 135% annual percentage yield (APY). Currently, over 4.2 million tokens have already been staked.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven't yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
To join, simply purchase $GBTC at the reduced price of $0.8402 before it increases in slightly less than five days.
You can buy $GBTC from the official Green Bitcoin website and exchange ETH or USDT for $GBTC tokens. You can also buy directly using your bank card.
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