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bitcoin price rose 4% in the last 24 hours to trade at bitcoin/”>$42,835 As of 5:20 a.m. EST, volume was up 5.5% to $24.9 billion.
The rise comes as Bitwise predicts the cryptocurrency king will hit a new all-time high of $80,000 next year, boosted by the launch of btc ETFs and the halving.
bitcoin Price Forecast
Despite the price drop last week, bitcoin is still up 18% in a month and is 141% higher compared to a year ago.
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Looking at the short-term performance of the coin, its price seems reluctant to make another rally following its rejection after reaching the $44,000 resistance.
So far, the coin has recovered to just under $43,000, but appears to lack motivation to break above this level.
Still, its long-term performance remains bullish, and was confirmed after the coin managed to preserve the $41k support level.
As long as bitcoin remains above the $41,000 support, the possibility of returning to $44,000 and potentially surpassing it also remains.
On the other hand, it is also possible that the coin will soon retest support as some technical indicators show that its price is struggling to grow.
Specifically, the coin's RSI score shows that it is overbought territory, while the Bollinger Bands are tighter than any point in the last four days.
Both are bearish signals, suggesting that btc is likely to be rejected by the resistance level between $43,000 and $44,000 and possibly retest the support at $41,000.
bitcoin price: promising alternative to btc
For investors looking to diversify or seek bigger short-term gains, a pre-sale with a lot of potential right now is bitcoin ETF Token (BTCETF).
The project is designed to capitalize on timely bitcoin ETF approvals. It has established a series of milestones, each of which will provide rewards to BTCETF holders.
The token is approaching the $4 million raised in the pre-sale and is selling for $0.0068.
@conio team up with @coinbase expand digital asset offerings for Italian banks, with plans to support up to 50 #records by 2023.
Europe's acceptance crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto with initiatives such as Markets in the regulation of crypto assets.
What digital assets do you think will gain traction next…? pic.twitter.com/DPg0m5yJQB
– BTCETF_Token (@BTCETF_Token) December 11, 2023
Those interested in purchasing the token will be able to do so in exchange for eth or USDT. Alternatively, they can also purchase it using a credit or debit card.
https://www.youtube.com/watch?v=hsO9HNneaDg
To purchase BTCETF, visit the official website here.
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