Bitcoin Price Prediction: As Italy Plans to Increase Capital Gains Tax on BTC to 42%, Traders Buy This ICO with 617% Staking APY

bitcoin price up a fraction of a percent in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>listed at $67,848 at 03:18 am EST on trading volume that fell 24% to $37 billion.

This comes as Italy's Deputy Finance Minister Maurizio Leo announced plans to increase the capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%.

Leo said additional revenue is needed to supportimprove public services and address the country's budget deficits.

bitcoin price could continue to rise

bitcoin price is in a clear uptrend, hitting higher highs and higher lows since late September. There has been a break above a horizontal resistance level around the $66,000 mark, which is now acting as support, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal Gecko.

There is a broader support zone between $57,500 and $60,000 marked by the yellow rectangle, which has been tested several times, making it a significant demand area.

btc is now trading above the 50- and 200-day SMA, supporting the overall bullish trend.

The Relative Strength Index (RSI) is at 71.19, indicating that the asset is entering overbought territory (RSI above 70). This suggests that although momentum is strong, there could be a possible pullback or consolidation as some traders could attempt to take profits.

Furthermore, the moving average convergence divergence (MACD) line (blue) is above the signal line (orange), showing strong bullish momentum.

bitcoin price prediction

According to bitcoin price analysis, bitcoin price is now rising as btc crosses above the upper boundary of the sideways pattern. Both the RSI and MACD confirm the bullish sentiment.

If this momentum holds, bitcoin could shoot to the next resistance level at $70,000.

While the market is trending bullish, caution should be exercised due to the overbought level of the RSI. In case of a downtrend, btc price could see a correction back to the $62,400 support within the 200-day SMA.

In the meantime, investors looking for alternative investment options may want to consider crypto All-Starsan innovative new ICO that has raised over $2.4 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 Presale Heads Towards $3 Million – Best Meme Coin to Buy Now?

crypto All-Stars is an innovative project that offers investors the opportunity to stake the best meme coins on one platform.

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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

Through its M͏emeVault protocol, investors will be able to stake 11 meme coins after the platform launches: Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu and Bonk, with plans to add further. in the coming months.

Investors can also stake STARS tokens for a stratospheric annual return of 617%.

STARS tokens are priced at $0.0015067 right now. But that will increase in less than 2 days, so act soon to get the best deal.

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

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