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bitcoin price has risen 2% in the last 24 hours to trade for $43,229 as of 12:20 am EST, even as trading volume fell 14%.
It comes amid an ongoing cooldown, setting the stage for an expected bull market in 2024 driven by the likely approval of a spot bitcoin ETF (exchange-traded fund) in January, the next halving event of btc and the expectations of a rate. cut already in March.
Currently, market sentiment is bullish in the crypto space, driven by factors such as the btc halving and ETF rumors. However, it is crucial to note that the market is also pricing in an 88 chance of a rate cut in early March next year. Please keep an eye on this development as it may…
– crypto Signals (@CryptoSignalsU) December 28, 2023
MicroStrategy Increases bitcoin Holdings Ahead of 2024 Bull Market
With this perspective in mind, MicroStrategy has added an additional 14,620 btc worth approximately $615.7 million at an average price of $42,110. This brings the company's holdings to 189,150 btc tokens acquired for approximately $5.9 billion at an average price of $31,168 per bitcoin.
MicroStrategy has acquired an additional 14,620 btc for ~$615.7 million at an average price of $42,110 per bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin. As of 12/26/23, @MicroStrategy now it has 189,150 $btc acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR https://t.co/PKfYY59sTW
—Michael Saylor (@saylor) December 27, 2023
The acquisition is a continued show of confidence in bitcoin, with company founder Michael Saylor saying: “btc will be the breakout asset of 2024.” MicroStrategy is one of the largest public business intelligence and analytics corporations in the world.
bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It will be the featured asset of 2024.pic.twitter.com/0RNrWIoV0j
—Michael Saylor (@saylor) December 26, 2023
Saylor also says that the ETF approvals will be a shock to bitcoin demand, while the halving, expected in April, will be a shock to supply. ETF contributors like BlackRock will need btc, but miners will have less to sell.
WHERE IS bitcoin HEADING IN 2024?
Well, ETF approvals could start rolling out next month, and are expected to halve in April. BlackRock needs btc, miners have less to sell.
Unbreakable and bold institutional money hits an immovable wall of low liquidity btc?src=hash&ref_src=twsrc%5Etfw”>#btc pic.twitter.com/3dLcP2VWPX
— Maximum | One click (@maxyamp) December 28, 2023
In other places, a crypto-Market-Outlook-2024/ETC_Group_2024_Outlook.pdf” target=”_blank” rel=”noopener”>report of ETC Group says 2023 was the year of recovery for bitcoin and the cryptocurrency market, with fundamental catalysts setting the stage for 2024.
bitcoin Price Outlook as MicroStrategy Grows Its btc Portfolio
After a 2% rise on the day and a 17% rise over the past month, bitcoin price continues to trade within a weekly supply zone. This bearish order block extends from $40,065 to $47,017. To confirm the continuation of the uptrend, the price must register a weekly candle close above the midline of the supply barrier at $43,860.
In a highly bullish case, gains could extend until bitcoin price turns the $48,000 psychological level into a support floor, before jumping above it to target higher milestones, with the $50,000 and $60,000 psychological levels. presenting logical objectives.
Both the Relative Strength Indicator (RSI) and the Awesome Oscillator (AO) support the bullish thesis. The RSI shows that even though btc is overbought, the upside potential remains plausible as momentum continues to rise. The AO, on the other hand, shows that the bulls maintain a strong presence in the market. These add credibility to the bullish outlook.
Conversely, a rejection from the midline of the weekly supply zone at $43,860 could send bitcoin price lower. While a drop below the $37,800 level would be threatening, the prevailing optimism for bitcoin price would only be invalidated by a weekly close below the psychological $30,000 level.
However, as bitcoin price defends against selling pressure from a weekly supply barrier, BTCMTX, a btc derivative, is surpassing key milestones in its pre-sale with the $6.5 million threshold now in the rearview mirror. as stage 16 progresses.
#BitcoinMinetrix Stage 16 has begun!
What risks or challenges could hinder bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoinFuture growth? pic.twitter.com/2KhBINl4CH
—Bitcoinminetrix (@bitcoinminetrix) December 27, 2023
Promising alternative to bitcoin
Between crypto-investments-top-picks-explosive-growth-calsona-j8nhe” target=”_blank” rel=”noopener”>Best Penny Cryptocurrency Investments with Explosive Growth PotentialBTCMTX is the cryptocurrency that powers the bitcoin Minetrix cloud mining project, tasked with making bitcoin ownership a reality even for ordinary people.
To do this, it has decentralized and tokenized the entire process, not only eliminating third parties but also eliminating entry barriers such as cost and space.
Prefer to #BitcoinMinetrix For perfect mining!
Get into cloud mining and say goodbye to worries about selling hardware. #BTCMTX manages updates, allowing users to focus on their $btc trip, free of problems with obsolete equipment. pic.twitter.com/JX3G4zG2BP
—Bitcoinminetrix (@bitcoinminetrix) December 27, 2023
Standing out among analysts crypto-projects-top-picks-investing-future-calsona-qr6te” target=”_blank” rel=”noopener”>Top picks for the best web3 crypto project., bitcoin Minetrix is in the pre-sale stage, registering over $6,461 million out of a target target of $7,182 million. It comes as investors continue to purchase BTCMTX at stage 16 rates of $0.0125. Notably, this price will change in the next four days before the price increases.
This means now is the time to take advantage of the low price.
Revealing the possibilities of $btc through #BitcoinMinetrix!
Cloud mining acts as an open door to crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto:
Simple initiation for beginners.
Economical and without hardware costs.
Don't worry about space, noise or heat.
Effortless improvements. pic.twitter.com/YEtFlTDdTZ—Bitcoinminetrix (@bitcoinminetrix) December 25, 2023
Visit the bitcoin Minetrix website to pre-sell BTCMTX here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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