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The price of bitcoin has soared 39% in the last month as the king of cryptocurrencies traded at bitcoin/”>$37,192 starting at 10:50 am EST.
Prominent analyst @el_crypto_prof highlights a rare buy signal seen on the M-Chart for btc, a phenomenon last seen eight years ago. At the same time, bitcoin has broken above the 20 SMA line, reinforcing expectations for an unprecedented rise in bitcoin price and what the analyst calls “the largest bull run in history.” The presence of institutional actors further reinforces this bullish perspective.
bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin
This indicator shows a buy signal on the M chart $btcwhich has only happened once before and that was 8 YEARS ago.
At the same time $btc it also surpasses the SMA 20 line.
One of the reasons I believe we are facing the biggest bull run in history.
The institutions are here. pic.twitter.com/4i7ulROUhp
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof) November 10, 2023
bitcoin price prediction
Looking at 1 hour btc/USD crypto“>graphics, the MACD indicator is now in the green zone as the relative strength indicator rises, and the bulls are now looking to regain the overbought region. Both point to an imminent price increase in the short term.
The 5-day moving average has broken above the 15-day moving average to form a golden cross. This shows bullish dominance as they look to overcome the $37,800 resistance.
In terms of volatility, the Bollinger bands are not far apart and show low levels of volatility in the price of bitcoin. This comes as trading activities slow down, with trading volume falling by 40% in the last 24 hours.
As indicators point to an increase in bitcoin price in the near term, the excitement around ETF approvals could send bitcoin to more extraordinary new highs.
It’s great news for the new bitcoin ETF token (BTCETF). It has the potential to explode in a big way once the season is over. your pre-sale in progress due to its connection to ETF-related events.
bitcoin Price Prediction: Is BTCETF an Alternative to bitcoin?
The bitcoin ETF token seeks to capitalize on the boost that the approval of bitcoin spot ETFs will give to bitcoin and the broader cryptocurrency market.
Identifying the future! #BitcoinETF it’s not just another #Cryptocurrency; It means a proactive approach that paves the way for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF.
Built on ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum, $BTCETF anticipates and takes advantage of this upcoming development, offering exclusive benefits to its community. pic.twitter.com/UX7eWXgpBq
– BTCETF_Token (@BTCETF_Token) November 11, 2023
BTCETF also aims to provide users with passive income opportunities by allowing them to lock their tokens and earn payments annually through the platform’s staking technology.
BTCETF also introduces a unique token burn mechanism for specific events in the spot ETF approval process. This results in deflationary pressure as 5% of the total supply is burned at each milestone.
Early Success in the Pre-Sale Phase
During the first four days of the pre-sale phase, BTCETF raised over $432,000, with early investors purchasing tokens for $0.0052 each.
The whitepaper indicates that 25% of the total supply is reserved for staking, supporting network security and stability. The current return rate of staking BTCETF tokens is over 1000%. However, this rate will decrease as more tokens are staked.
Early BTCETF contributors are eligible for exclusive discounts and early entry to the token pre-sale. With a price per token of $0.0052, this pre-sale offers 40% of the total supply of 840,000,000 tokens.
Along with the critical dates for the btc spot ETF, the pre-sale will focus on community building and showcasing the project’s unique value proposition. Eighty-four million BTCETF tokens will be available in the pre-sale, giving early backers plenty of options.
It is essential to recognize the potential benefits that the broader bitcoin ETF narrative can bring to BTCETF. So, while you are keeping an eye on the price of bitcoin, remember to boost its upside potential by participating in the BTCETF pre-sale.
Visit here and get your BTCETF.
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