Bitcoin price pushes towards $24,000 – $25,000, here we go?

The digital asset market has been extremely dynamic, and Bitcoin is no exception. Over the past few weeks, the Bitcoin price has experienced numerous ups and downs, but has finally found a sense of stability.

Despite the rejection of $25,000 on Sunday, the digital asset is preparing for another push towards the coveted level. The quick recovery above $24,000 after a dip shows a significant level of strength on the 24-hour chart and the ability to sustain its uptrend.

Bitcoin Approaches $24k Gaining 50% Since Last Bottom

The price of Bitcoin, the world’s largest cryptocurrency by market value, has seen a sharp rise in recent months, rising from a low of around $15,600 in November to a current value of $23,950. 53% from its November low and an increase of 40% from the start of the year, when it was valued at close to $16,500. Bitcoin’s gains in recent months have earned it the title of the best performing asset of 2023 by Goldman Sachs after conducting an analysis earlier this month.

Despite ongoing challenges in the cryptocurrency and blockchain space, including the collapse of troubled exchange FTX and the upcoming trial of its founder and former CEO, Sam Bankman-Fried, Bitcoin has been able to experience these strong gains.

In November, the price of Bitcoin fell to its lowest point in two years, around $15,625, in response to the news that Binance, a rival exchange, would not buy FTX.

Since then, the cryptocurrency has been on the rise, even as market participants learn about the implications of the FTX collapse and the number of companies in the industry that were exposed to FTX when it filed for bankruptcy. Major players in the crypto space, including Binance and Coinbase, have disclosed their exposure to FTX.

Introduction of a global currency to increase the price of Bitcoin

There is a growing global movement against the US dollar and it could have a significant impact on demand for Bitcoin. The battle is raging on both the geopolitical and economic fronts, with Russia and China leading the way in creating a new global currency called BRICS.

If this new currency gains traction and becomes widely accepted, it could lead to a decline in demand for the US dollar and set it on a path to further depreciation. This could boost demand for Bitcoin as people look for alternative means of holding value. The current debt situation and recession fears in the US may also add to the pressure on the dollar.

There have been reports that banks in BRICS member countries are exploring blockchain implementation, which could be a strong move for the new currency. This would not only offer the BRICS a competitive advantage, but would also facilitate their use as a reserve.

Not adopting blockchain technology could put the BRICS at a disadvantage compared to other countries that are exploring this technology. The potential implications of this for Bitcoin are intriguing, particularly from its long-term perspective.

Bitcoin possibly touches $25k in the next few days

Bank of America strategists predict a reversal in the growth of speculative assets like Bitcoin if the recent rise in oil, wages and consumer prices leads to a shift from a “soft landing” view to a “soft landing” view. no landing”.

Meanwhile, Fed Chairman Jerome Powell may also mention the plan to keep interest rates high for an extended period, after an expected quarter-point rise this week. Some areas of the global market are also raising concerns, such as a record bearish bet on bond futures by hedge funds, contradicting the belief that the peak of rate hikes is near.

Bitcoin is currently experiencing a bullish start to 2023 and has shown resilience against downside risks. Its latest rally confirms strong demand and low selling pressure among investors who choose to hold their coins. Bitcoin price has approached the $24,000 range and is trading at $23,086 at the time of writing.

The lack of support for the bears and the expected bullish momentum during US trading hours could lead to an easy advance at the next resistance of $24.765. This opens the door for Bitcoin to reach its main target of $25,000. However, it is important to note that the digital asset market is highly unpredictable and the next few days will be crucial in determining the direction of the bitcoin price.

It is important that investors exercise caution and consider the potential risks involved in any investment decision. It is always advisable to seek professional guidance and conduct thorough research before making any investment decision in the digital asset market.

Amid these challenges, the general sentiment in the market remains bullish and the possibility of reaching $25,000 is an enticing prospect for many. The only way to know is to wait and see how this plays out.

Altcoins to compete with the market leaders for exponential gains

Bitcoin is certainly a great investment asset, but it is not ideal for investors entering the market for outsized profits. Altcoins, on the other hand, offer the freedom to enter the market with minimal investment and possibly earn 10x to 100x profits. Here are some altcoins, currently in their pre-sale stage, that we think have the potential to succeed.

Meta Masters Guild (MMG) is a platform for decentralized play-to-win mobile games, currently including Meta Masters World, Raid NFT, and Meta Karts. The pre-sale has raised over $2.08 million, and the final stage of the sale features a price of $0.023, an increase of 43.75% over stage 4. As of now, the MEMAG token is selling for 0.016 USDT, which will increase to 0.019 USDT in the next round of the pre-sale.

MMG is a cost-conscious project with a goal of $4.97 million, looking to redefine the gaming space with its novel “play and win” approach. The highly anticipated game Meta Kart Racers is scheduled to be released in the second half of the year by blockchain developer Gamearound, with players interacting with the platform using the MEMAG token. The P2E industry has the potential for billions in revenue, making MEMAG an attractive buying opportunity.

FightOut combines the concept of Move-to-Earn (M2E) and the metaverse to create a health and fitness platform. Take advantage of cryptographic technology to incentivize users to be active and healthy. The platform includes a mobile application that connects the real world with the virtual world, measures the physical progress of users and offers personalized training programs. The project also plans to implement a chain of gyms as community fitness centers.

The platform’s FGHT token provides access to the mobile app and is available for sale now, with pre-sale ending on March 31. The price of the token gradually increases during the pre-sale period and is expected to see a significant increase when it is listed on its first centralized exchange on April 5. The team is also hosting a $250,000 FGHT token giveaway for investors.

C+Charge is a new crypto project aimed at improving electric vehicle (EV) charging space by incorporating carbon credits. The platform aims to make EV charging more efficient and reward EV owners who charge their vehicles at C+Charge stations with carbon credits. The CCHG token, the platform’s native asset, will operate on the BNB Smart Chain and will initially be limited to C+Charge stations. The deflationary CCHG token will become scarcer over time and will increase in value as the number of charging stations grows.

The C+Charge app will also allow users to track balances and rewards, run diagnostics on their vehicles, and order parts for repairs. The CCHG token is available for pre-sale and has already raised over $460,000 so far.

Read more:

Fight Out (FGHT) – New Move to Earn project

• CertiK audited and CoinSniper KYC verified
• Early stage presale live now
• Earn free cryptocurrencies and meet your fitness goals
• LBank Laboratories Project
• Associated with Transak, Block Media
• Rewards and participation bonuses