Bitcoin Price Prediction: MicroStrategy Raises $700M as Elizabeth Warren Calls for Drastic Fed Rate Cut

bitcoin price rose 1% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $58,651 at 4:14 a.m. EST on trading volume that rose 4% to $28 billion.

This comes after MicroStrategy announced its third debt offering of 2024, aiming to raise $700 million by issuing convertible senior notes due in 2028. The proceeds will be used to repay $500 million in existing senior secured notes, while the remaining funds can be used to purchase more btc.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.5647058823529″>

MicroStrategy Announces Proposed Private Offering of $700 Million Convertible Senior Notes twitter.com/search?q=%24MSTR&src=ctag&ref_src=twsrc%5Etfw”>$MSTR https://t.co/OCq7wj2u0P

—Michael Saylor (@saylor) twitter.com/saylor/status/1835773231262744857?ref_src=twsrc%5Etfw”>September 16, 2024

Meanwhile, Senator Elizabeth Warren is calling for the Federal Reserve to slash interest rates by 0.75% this week. Three other Democratic senators also urged Fed Chair Jerome Powell and other policymakers to pursue aggressive rate cuts to protect the U.S. economy.

bitcoin price will continue to recover

bitcoin price was in a sustained bullish stance from September 7 to 13, rising to the 60,000 resistance zone, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.

Although the bears may have gained some control, the support around $58,000 offered the bulls a cushion and set the stage for a bounce.

The previous push carried the bitcoin price above the 50-day simple moving average (SMA), which confirmed the bullish stance. The 200-day SMA is now acting as a resistance that the bulls aim to overcome to propel the price higher.

Moreover, the Relative Strength Index (RSI) also seems to be bouncing from below the neutral zone to currently trade at 50, which shows that the bulls are currently buying.

If the uptrend continues, btc could continue to rise as bulls target $64,000.

Conversely, if the bears take control, bitcoin price could correct below the current support level, and the next support at $56,000 would offer a cushion against bearish pressure.

Even amid bullish sentiment around the price of bitcoin, investors are piling money into the new meme token crypto Stars (STARS)which has raised more than $1.3 million in pre-sales.

99Bitcoins, a cryptocurrency YouTube channel with over $706K subscribers, says $STARS has the potential to skyrocket 100x after its launch.

crypto All-Stars Pre-Sale Raises Over $1.3 Million

crypto All-Stars is off to a flying start in its pre-sale after raising over $1.3 million in just over a month after its launch.

The new project offers meme coins a new utility: generating passive income through unified staking.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.951612903226″>

Why is everyone excited?

In its initial pre-sale phase, crypto All-Stars raised over $350,000!

This initial success shows that investors see HUGE potential here.

Could this be the next one? twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw”>$PEPE?

— web3telepath (@web3telepath) twitter.com/web3telepath/status/1824051738833260654?ref_src=twsrc%5Etfw”>August 15, 2024

crypto All-Stars introduces an industry-first capability through its MemeVault protocol, which allows holders of leading meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to stake them together and earn a single reward: the native $STARS token.

crypto All-Stars also allows staking of meme coins including Shiba Inu, Floki, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk, with plans to add more meme coins in the coming months.

Investors can also earn passively through The project's native staking mechanismoffering an astonishing 1,133% annual percentage yield (APY).

You can buy the token now for $0.001447, but the price will increase in less than 2 days, so act fast to get the best deal.

Buy $STARS from their official website here using BNB, USDT or a bank card.

Related news

The Most Wanted Cryptocurrency Launch: Pepe Unchained

• Layer 2 Meme Coin Ecosystem
• Featured on Cointelegraph
• SolidProof and Coinsult audited
• Rewards for participation – pepeunchained.com
• Over $10 million raised in ICO: ending soon