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Bitcoin’s price has increased by 2% over the past 24 hours, trading at $68.5K The time is 1:30 AM EST.
It comes after the king cryptos briefly broke the psychologically-important $70K level to set a brand new all-time (ATH) high on March 8, 2018.
Nine Spots #Bitcoin ETFs purchase millions in worth of securities $BTC Every day.
It is likely that this is the main reason for our recent pumping of $70k
No need to worry, we have cleared some sales orders.
Soon we will be able to push the $100k mark.
It’s a matter if time. pic.twitter.com/Q6mXIRPiYy
— Crypto Rover (@rovercrc) March 8, 2024
Bitcoin Price Analysis: Will BTC Regain Above $70K?
Analysing Bitcoin charts, we notice a consolidation between $68 – 70K on the Bitcoin price. Despite this consolidation, Bitcoin now has a completed ascending triangle, which could be a sign that another breakout is on the way. If bulls can push through the $70K level of resistance, then the crypto king may see another breakout.
We can see that the Money Flow Index is currently at 52.21, which indicates a market with little buying pressure. This value indicates that there is room for more gains as crypto kings are not yet overbought. The Average Directional Index, which is used to gauge trends, has a value 22. This suggests that the trend is weak. The ADX shows that despite a weak trend, bulls have gained traction in the north as the current trend continues to solidify.
2-hour BTC/USD charts Source:| Source: TradingView
While investors are anticipating a continual Bitcoin price boost, the Green Bitcoin presale Bitcoin Bull Run is another way to invest in the Bitcoin bull market.
An Eco-Friendlier Bitcoin
Green Bitcoin (GBTC), the greener version, is a more environmentally friendly version of Bitcoin. The cryptocurrency is run on the Ethereum network which uses less computer power and therefore is more energy-efficient.
Green Bitcoin: A revolutionary Predict-to-Earn token.
Join our Gamified Green Staking Platform where your predictions will turn into profits.
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
The staking of the tokens offers an estimated annual return of 156%. Already, 3.7 million tokens were staked. The rewards distribution is set to 1.6 $GBTC per Ethereum (ETH), block. The rewards are to be paid out over five months.
Gamified stakes allows holders to earn more money.In daily contests, participants can predict the Bitcoin price and win rewards if they’re right.
GBTC Set To Capitalize On Buoyant Bitcoin Sentiment
GBTC is well positioned to take advantage of the positive sentiment towards Bitcoin. Institutional investors will be bringing more liquidity to BTC through spot Bitcoin ETFs. Also, there are expectations that the price will surge in anticipation of the Bitcoin halving scheduled for April.
GBTC Tokens are available for $0.7262 and investors can buy them with a bankcard, ETH, USDT, or a USDT.
Investors should act quickly as the price will increase in four days or sooner, if the $2.66 million already raised surges past $2.839 million.
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“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: insidebitcoins.com