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bitcoin price rose 2.5% in the last 24 hours bitcoin/”>trading at $51,443 at 04:45 am EST on trading volume increasing 3% to $40 billion.
The current price surge comes as Skybridge founder Anthony Scaramucci says it's not too late to buy bitcoin, which is up 19% in the last week.
With bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Above $50,000, the average investor once again asks himself: “Did I miss the buying opportunity?” The answer is difficult: “no.” Interest rates fall and spot ETFs generate billions in new flows, halving in two months. In my opinion, a heartbreaking rally is coming.
-Anthony Scaramucci (@Scaramucci) February 12, 2024
Scaramucci says btc could soar even higher now that interest rates are falling and bitcoin ETFs (exchange-traded funds) are generating billions in new inflows. With the halving also expected to occur in two months, Scaramucci now sees a great opportunity to buy more btc. He also believes that markets may be underestimating the potential growth of bitcoin ETFs in the future.
Seems like a consensus estimate for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin– ETFs between $10 billion and $15 billion will be low.
-Anthony Scaramucci (@Scaramucci) February 14, 2024
bitcoin Price Breaks Bullish Pennant
This month, the price of bitcoin saw a significant rise after a period of consolidation, during which the price stabilized around $40,000. This stability provided a solid foundation for bullish traders to initiate a rally. As a result, the bulls successfully pushed the price through a margin phase, raising it to $50,000.
btc has now broken above the upper boundary of the bullish pennant pattern, indicating a continuation of the uptrend.
Furthermore, btc price is trading above the 50-day and 200-day SMA, further supporting the bullish sentiment. The Relative Strength Index is trending up at 72, which is above the overbought threshold of 70. This rise from the mid-level of 50 suggests significant buying pressure.
<img decoding="async" class="alignnone size-full wp-image-480591" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin Price” width=”1260″ height=”257″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/1708208585_95_Bitcoin-Price-Prediction-BTC-Surpasses-51000-After-19-One-Week-Rise.png 1260w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-300×61.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-1024×209.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-768×157.png 768w” data-lazy-sizes=”(max-width: 1260px) 100vw, 1260px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/1708208585_95_Bitcoin-Price-Prediction-BTC-Surpasses-51000-After-19-One-Week-Rise.png”/><img decoding="async" class="alignnone size-full wp-image-480591" src="https://technicalterrence.com/wp-content/uploads/2024/02/1708208585_95_Bitcoin-Price-Prediction-BTC-Surpasses-51000-After-19-One-Week-Rise.png" alt="bitcoin Price” width=”1260″ height=”257″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/1708208585_95_Bitcoin-Price-Prediction-BTC-Surpasses-51000-After-19-One-Week-Rise.png 1260w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-300×61.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-1024×209.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/Screenshot_11-768×157.png 768w” sizes=”(max-width: 1260px) 100vw, 1260px”/>
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) tends to bounce while trading below the signal line (orange), indicating a continuation of the uptrend.
This is further supported by the movement of the bars on the histogram, which shows that the price is destined to rise, strengthening the bullish outlook for the btc price. The average directional index (ADX) is at 53, showing a very strong trend currently, confirming the bullish momentum.
bitcoin price prediction
Current long-term bitcoin price technical analysis indicates that btc has bullish momentum, as confirmed by the price breakout above the bullish pennant pattern.
As the RSI is trading above 70, there could be a possible price correction to create more positions for the bulls. If such a scenario occurs, the price could retreat to $48,317, a position that will allow the bulls to push the price to a new high of $56,000.
The upward trend in the price of bitcoin has a positive influence bitcoin Minetrix (BTCMTX), a btc derivative that is experiencing exponential growth in its pre-sale. Investors eager to diversify their exposure to bitcoin could well consider this token.
BTCMTX Secures $10.8 Million – Best bitcoin Alternative to Buy Now for 10x Returns
bitcoin mining has been an expensive endeavor for a long time, but not anymore. bitcoin Minetrix is a cutting-edge, decentralized cryptocurrency project that aims to solve the problem of high hardware costs and deceptive scams that prevent people from mining bitcoin.
welcome to #BitcoinMinetrix: Your entry to simplification bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining!
Experience tokenized cloud mining, making $btc mining accessible to everyone in a safe and transparent way.
Say goodbye to third-party scams and take control of your mining adventure! pic.twitter.com/iDRQH94Y74
—Bitcoinminetrix (@bitcoinminetrix) February 13, 2024
This innovative approach has sparked significant interest and investment from the crypto community. The bitcoin Minetrix pre-sale has already raised over $10.8 million in seed funding as it moves towards its $11.5 million goal.
BTCMTX tokens are currently priced at $0.0133, but the price will increase in less than a day, offering a quick profit if you buy them now.
Buy and Stake BTCMTX, Win $30K Minedrop
You also can buy and stake your BTCMTX tokens and receive a high 63% Annual Percentage Yield (APY). More than 665 million tokens have already been staked. When you place a stake, you automatically earn tradable ERC-20 token credits, which are burned in exchange for btc cloud mining power.
Furthermore, participating in the platform's purchasing and participation process automatically places you as a contender in the $30,000 Mine Throwing Contest. Ten winners will be selected from all entries and each will receive a $3,000 prize.
#BitcoinMinetrix $30,000 Minedrop Now Available!
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for your chance to win one of ten $3000 $BTCMTX Awards!
https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N—Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
Jacob Bury, a YouTube crypto analyst, says BTCMTX has the potential to rise 10x after launch.
To participate in the pre-sale, visit the official website of BTCMTX and exchange your eth or USDT for BTCMTX. You can also make purchases directly with your bank card.
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