{"id":584501,"date":"2024-10-07T14:05:29","date_gmt":"2024-10-07T14:05:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=584501"},"modified":"2024-10-07T14:05:29","modified_gmt":"2024-10-07T14:05:29","slug":"bitcoin-price-prediction-japans-microstrategy-buys-more-btc-as-experts-say-this-might-be-the-best-crypto-to-buy-now","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-japans-microstrategy-buys-more-btc-as-experts-say-this-might-be-the-best-crypto-to-buy-now","title":{"rendered":"Bitcoin Price Prediction: Japan&#8217;s MicroStrategy Buys More BTC As Experts Say This Might Be The Best Crypto To Buy Now"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price rose 2% in the last 24 hours <\/span><a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\"><span style=\"font-weight: 400;\">to trade at $63,542<\/span><\/a><span style=\"font-weight: 400;\"> as of 03:16 a.m. EST on trading volume that surged 69% to $20.7 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This comes as investment adviser Metaplanet, known as Japan&rsquo;s MicroStrategy, said it bought another $6.7 million worth of BTC, pushing its holdings to 639.5 BTC, worth approximately $40.6 million.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">*Metaplanet purchases additional 108.78 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>* <a href=\"https:\/\/t.co\/Pz2AHupm1T\">pic.twitter.com\/Pz2AHupm1T<\/a><\/p>\n<p>&mdash; Metaplanet Inc. (@Metaplanet_JP) <a href=\"https:\/\/twitter.com\/Metaplanet_JP\/status\/1843125310600184288?ref_src=twsrc%5Etfw\">October 7, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In May, the company adopted BTC as a reserve asset to hedge against the volatility of Japan&rsquo;s native currency. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It now has the second-largest Bitcoin stash among Asia-listed companies, behind Meitu with 941 BTC.<\/span><\/p>\n<h2>Bitcoin Price Could Continue Soaring<\/h2>\n<p><span style=\"font-weight: 400;\">According to the 1-day chart, the Bitcoin price shows that BTC has been trading between $56,000 and $72,000, according to data from <\/span><a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\"><span style=\"font-weight: 400;\">GeckoTerminal<\/span><\/a><span style=\"font-weight: 400;\">. A recent downtrend below the $56,000 support caused the price of Bitcoin to form an inverse head and shoulders pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bulls aim to use this pattern to propel the price of Bitcoin even further above as it approaches the immediate resistance on the 200-day Simple Moving Average (SMA) at $63,569. BTC price now being above the 50-day SMA encourages this trend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the Relative Strength Index (RSI) seems to be soaring above the 50-midline level, currently at 55, which supports the overall bullish outlook.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the current trend continues, the bulls could capitalize on the inverse head and shoulders pattern to keep pushing the price of Bitcoin. In this scenario, the bulls are currently targeting the $72,000 resistance.<\/span><\/p>\n<figure id=\"attachment_584508\" aria-describedby=\"caption-attachment-584508\" style=\"width: 1273px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-584508\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-07_10-16-19.png\" alt=\"Bitcoin Price Chart Analysis Source: GeckoTerminal.com\" width=\"1273\" height=\"548\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-07_10-16-19.png 1273w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-07_10-16-19-300x129.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-07_10-16-19-1024x441.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-07_10-16-19-768x331.png 768w\" sizes=\"(max-width: 1273px) 100vw, 1273px\"><figcaption id=\"caption-attachment-584508\" class=\"wp-caption-text\">BTCUSD Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, if the bears take control of the price at this level, the price of BTC could plunge back to the $56,000 support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, investors might want to consider diversifying into a new meme coin casino project called<\/span> <a href=\"https:\/\/insidebitcoins.com\/visit\/memebet\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Memebet Casino (MEMEBET Token)<\/span><\/a><span style=\"font-weight: 400;\">, which has hurtled past $384k in its presale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">YouTube channel Cryptonews, with over 10k subscribers, says that $MEMEBET Token could soar 100x after it launches.<\/span><\/p>\n<p><iframe title=\"NEW MEMEBET TOKEN WILL 100X!! MAKE BETS WITH MEME COINS?!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/dgqdweQeJVI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Memebet Casino Heads For $500k<\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/memebet\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Memebet Token<\/span><\/a> <span style=\"font-weight: 400;\">will bring closer together two of the hottest themes in crypto: meme coins and GambleFi. It offers an industry first by allowing players to use meme coins to wager at an online casino.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Not the casino we deserve but the casino we need &#127920; <a href=\"https:\/\/twitter.com\/hashtag\/MemeBet?src=hash&amp;ref_src=twsrc%5Etfw\">#MemeBet<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Presale?src=hash&amp;ref_src=twsrc%5Etfw\">#Presale<\/a> &amp; <a href=\"https:\/\/twitter.com\/hashtag\/Airdrop?src=hash&amp;ref_src=twsrc%5Etfw\">#Airdrop<\/a> coming soon! &#128640; <a href=\"https:\/\/twitter.com\/hashtag\/Memecoins?src=hash&amp;ref_src=twsrc%5Etfw\">#Memecoins<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> gaming and more! &#127918;&#127942; <a href=\"https:\/\/twitter.com\/search?q=%24COIN&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$COIN<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DOG<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PEPE<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SOL?src=hash&amp;ref_src=twsrc%5Etfw\">#SOL<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/RNDR?src=hash&amp;ref_src=twsrc%5Etfw\">#RNDR<\/a> <a href=\"https:\/\/t.co\/oR2xja6JFK\">pic.twitter.com\/oR2xja6JFK<\/a><\/p>\n<p>&mdash; MemeBet (@Memebetcasino) <a href=\"https:\/\/twitter.com\/Memebetcasino\/status\/1793673524747309446?ref_src=twsrc%5Etfw\">May 23, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The project caters to the &ldquo;degen&rdquo; community, offering high-stakes gameplay, a global sportsbook that covers major leagues like the EPL and NBA, and a diverse selection of crypto-native games.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When its Telegram crypto casino opens, meme coin holders will be able to bet&nbsp; with tokens that include Dogecoin ($DOGE), Shiba Inu ($SHIB), Bonk ($BONK), Floki ($FLOKI), and Pepe ($PEPE), with more meme coins set to be added. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Users can deposit these assets to wager on casino games, slots, and sports on the Memebet Casino platform.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bro's asking the right questions &#129488;<a href=\"https:\/\/twitter.com\/hashtag\/MemeBet?src=hash&amp;ref_src=twsrc%5Etfw\">#MemeBet<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Presale?src=hash&amp;ref_src=twsrc%5Etfw\">#Presale<\/a> &amp; <a href=\"https:\/\/twitter.com\/hashtag\/Airdrop?src=hash&amp;ref_src=twsrc%5Etfw\">#Airdrop<\/a> soon &#9200; <\/p>\n<p>The number one place for <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> gaming and more! &#128165; &#127920;<a href=\"https:\/\/twitter.com\/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FTM<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SOL?src=hash&amp;ref_src=twsrc%5Etfw\">#SOL<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bonk?src=hash&amp;ref_src=twsrc%5Etfw\">#Bonk<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/WIF?src=hash&amp;ref_src=twsrc%5Etfw\">#WIF<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Doge?src=hash&amp;ref_src=twsrc%5Etfw\">#Doge<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BOME?src=hash&amp;ref_src=twsrc%5Etfw\">#BOME<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Altseason?src=hash&amp;ref_src=twsrc%5Etfw\">#Altseason<\/a> <a href=\"https:\/\/t.co\/NLds73vdTX\">pic.twitter.com\/NLds73vdTX<\/a><\/p>\n<p>&mdash; MemeBet (@Memebetcasino) <a href=\"https:\/\/twitter.com\/Memebetcasino\/status\/1792226734265266188?ref_src=twsrc%5Etfw\">May 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">And holders who bet with $MEMEBET Token can increase rewards through the platform&rsquo;s play-to-earn system.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To join the presale,<\/span> <a href=\"https:\/\/insidebitcoins.com\/visit\/memebet\" rel=\"nofollow\"><span style=\"font-weight: 400;\">buy $MEMEBET Token on the official website here<\/span><\/a><span style=\"font-weight: 400;\"> for $0.0257 using USDT, ETH, or a bank card.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a price increase scheduled in less than 4 days, don&rsquo;t wait too long to secure the best deal.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Related News<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/make-money-with-cryptocurrency\/\"><span style=\"font-weight: 400;\">How to Make Money with Cryptocurrency &ndash; 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