Bitcoin Price Hits $70,000 as VanEck Targets $3 Million BTC by 2050, But Analysts Say Consider This ICO to Stake Rewards on DOGE, SHIB, and PEPE

bitcoin price rose almost 5% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>trading at $70,851 At 00:16 am EST, trading volume soared 149% to $45.7 billion.

This comes as fund management giant VanEck bitcoin says bitcoin will become a reserve asset held by central banks and used in global trade, helping its price rise to $3 million by 2050. It It would mean that btc would appreciate by an average of 16% annually over the next 26 years. years.

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BREAKING: VanEck predicts twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It will be used in global trade and become a reserve asset worth $3 billion by 2050.

VanEck also projects that central banks will allocate 2% to twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc

16% year-on-year growth for 26 years. pic.twitter.com/g7uBJ6nwQu

— Radar (@RadarHits) twitter.com/RadarHits/status/1851002385151508653?ref_src=twsrc%5Etfw”>October 28, 2024

bitcoin Price Aims to Maintain Bullish Stance

bitcoin price has been on a bullish rally since August, as bulls capitalized on the $53,760 support to push the token into a bullish ascending channel pattern, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal Gecko. Now that the price is trading within the upper boundary of the channel, bitcoin price is poised for a continued rally.

With the rally, btc is now trading above the 50-day and 200-day SMA, further supporting the bullish rally. The 50-day SMA has now crossed above the 200-day SMA, which has formed a bullish golden cross at $63,268, further consolidating the asset's bullish prospects.

The Relative Strength Index (RSI) is at 66, close to the overbought zone (above 70), but still within a range that leaves room for an upward move. This RSI rise aligns with the breakout, confirming increasing buying pressure.

The moving average convergence divergence (MACD) line (blue) is currently above the signal line (orange) and is trending upward, suggesting strong bullish momentum. Furthermore, the histogram bars are positive and expanding, further confirming the bullish crossover and the possibility of continued bullish price action.

bitcoin price prediction

According to the btc/USD chart analysis in the 1-day period, bitcoin price has been on a sustained bullish rally, which the bulls intend to continue driving as they capitalize on major technical indicators. If the rally continues, btc could skyrocket as bulls target $80,000.

On the contrary, if the bears take control of the price, btc could slightly reach the $63,740 and $63,292 levels, which coincide with the 50-day SMA and the 200-day SMA, respectively.

Meanwhile, investors looking for diversification opportunities may want to consider crypto All-Starsa new and innovative ICO that has raised over $2.8 million.

According to ClayBro, a prominent crypto analyst on YouTube with over 130,000 subscribers, $STARS has the potential to grow 10x after its launch.

crypto All-Stars Pre-Sale Secures Over $2.8 Million – Best Cryptocurrency to Buy Now?

C͏rypto All-S͏t͏a͏r͏s is a revolutionary project that allows investors to stake several major meme coins on one platform for the first time and earn rewards in STARS tokens.

This is made possible through its innovative M͏emeVault ecosystem, which after the launch of STARS will allow 11 meme coins to be staked: Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu and Bonk. More meme coins will be added in the coming months.

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Why is everyone excited?

In its initial pre-sale phase, crypto All-Stars raised over $350K!

This initial success shows that investors see BIG potential here.

Could this be next? twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw”>$PEPE?

— web3telepath (@web3telepath) twitter.com/web3telepath/status/1824051738833260654?ref_src=twsrc%5Etfw”>August 15, 2024

The project also has a unique design, bringing a retro 8-bit aesthetic to its meme coin mascots.

You can also earn passively through The native participation mechanism of the project.offering a whopping 546% annual percentage return.

You can buy the token now for $0.0015309. But the price will increase in about two days, so act fast to get the best deal.

Buy $STARS from their official website here using BNB, USDT or a bank card.

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