Bitcoin price plummets 1.5% as experts say this ICO could grow 100-fold

Join our Telegram channel to stay up to date on breaking news coverage

The price of bitcoin has fallen 1.5% in the last 24 hours to trade at $95,883 as of 7:20 am. EST with a 17% increase in trading volume to $54 billion.

The drop in btc price comes despite Japanese investment firm Metaplanet making its largest bitcoin purchase on December 23, acquiring 619.7 btc for nearly $60 million at around $96,000 per bitcoin. This purchase nearly quadrupled its previous record of 159.7 btc in October.

Japanese public company Metaplanet acquires 619.7 <a target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin for 9.5 billion yen. The global race to accumulate continues.

The best part? This is not competition, it is collaboration. pic.twitter.com/4K3cR1Ad5B

— Michael Saylor Founder of MicroStrategy (Parody) (@Saylorsatsire) <a target="_blank" href="https://twitter.com/Saylorsatsire/status/1871132717426811009?ref_src=twsrc%5Etfw”>December 23, 2024

Metaplanet, often called “Asia's MicroStrategy”, now holds a total of 1,762 btc, worth approximately $168 million, with an average purchase price of $75,600 per btc.

The company's bitcoin holdings rank 12th among public companies, just behind Semler Scientific. Furthermore, Metaplanet reported a btc return of 310% from October 1 to December 23, a significant increase from the previous quarter's 41.7% return.

bitcoin Price Falls, Consolidation Suggests Retest of $100,000

bitcoin is currently <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>trading at $95,826showing a slight drop of $540.37 (-0.57%). This small pullback could be part of a consolidation phase, which could trigger a more significant move soon. Key support lies at $93,428, aligning with the steadily rising 50-day moving average (SMA), which has been acting as a reliable dynamic support.

Below that, the 200-day SMA at $70,444 offers another solid safety net, highlighting bitcoin's strong long-term uptrend. Adding to this positive outlook, the Golden Cross in mid-November, where the 50-day SMA crossed above the 200-day SMA, is often seen as a sign of upcoming sustained rallies.

BTCUSD Analysis Source Tradingview

The Relative Strength Index (RSI) is at 57.95, indicating moderate bullish energy with room to rise before reaching overbought levels above 70. The RSI signal line near 46.24 hints at a possible bullish crossover , which points to a bullish reversal soon.

The chart also shows a rounded bottom pattern from September to October, indicating a shift from bearish to bullish sentiment. This could mark a critical reversal zone for bitcoin to retest the $100,000 psychological level.

If it overcomes this hurdle, the next target could be $120,000 in the medium term. However, if bitcoin falls below the $93,428 support, it could see a deeper correction, with the 200-day SMA at $70,444 likely acting as the next major support.

Flockerz pre-sale exceeds $8 million

As investors sell bitcoin in the short term, they continue to buy a meme coin called Flockerz (FLOCK), which just surpassed $7.6 million in funds raised in its pre-sale, which has less than 30 days left.

An analyst from YouTube channel 99 Bitcoins, with over 719,000 subscribers, ranks FLOCK among the top 3 ICOs and says it has the potential to skyrocket 100x once it launches.

Flockerz calls itself “The People's Meme Coin” and is turning heads with its innovative Vote-to-Earn (V2E) system.

Unlike typical meme coins controlled by a minority of insiders, Flockerz actively involves its community in shaping the future of the project.

Holders who vote on key decisions not only contribute, but also get FLOCK tokens as a reward. This approach goes beyond simple governance, transforming participation into a way to earn income while giving the community real control over the direction of the project.

Sometimes the flock can get a little naughty

It's all very fun! pic.twitter.com/AcOqls7X7b

—Flockerz (@FlockerzToken) <a target="_blank" href="https://twitter.com/FlockerzToken/status/1871138827714388079?ref_src=twsrc%5Etfw”>December 23, 2024

Flockerz also boasts a whopping 364% annual return, giving holders another way to earn income. With opportunities to make money through voting and staking, Flockerz sets itself apart in the meme coin space and offers real value in a competitive market.

The FLOCK token is currently priced at $0.006504 and can be purchased using eth, USDT, BNB or a bank card.

Visit FLOCK here.

The Newest Meme Coin ICO – Wall Street Pepe

Pepe Wall Street