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bitcoin price rose 1.7% in the last 24 hours bitcoin/”>trading at $51,751 at 04:28 am EST on trading volume that fell 16% to $28 billion.
This comes as FundStrat head of research Tom Lee believes the btc price could reach $150,000 this year. According to Lee, the optimistic outlook for bitcoin can be attributed to several factors. First, demand for bitcoin is increasing following the approval of spot bitcoin ETFs earlier this year. Secondly, Lee anticipates an easing of monetary policies, aligning with widespread expectations.
FundStrat head of research Tom Lee doubled down on his bullish outlook, saying $btc could reach up to $150,000 this year.
What is your price prediction for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ? pic.twitter.com/CLxEUeAW5R
—Conor Kenny (@conorfkenny) February 22, 2024
Additionally, he points to the upcoming halving event in April as a crucial moment. This event is expected to reduce the supply of bitcoin, which is likely to contribute to an increase in its price.
Lee remains bullish on the price of bitcoin, saying that it has remained stable and a decline is not likely to occur anytime soon.
bitcoin price bullish, trading inside ascending triangle
Since early February, the price of bitcoin has been on an upward trajectory, as shown by an inverse head and shoulders pattern. This pattern provided the impetus for the bulls to push the price higher during a rising phase, although they encountered resistance at $53,000. Following this rejection, the price has experienced fluctuations, trading within the limits of an ascending triangle.
btc is trading above the 200-day SMA, indicating bullish momentum. If the price maintains the momentum, btc could surpass the 50-day SMA hurdle. However, the moving average (MA) crossover formed at $42,875 supports the bullish sentiments.
The Relative Strength Index (RSI) is recovering from oversold levels to trade above the mid-50 level. This shows increasing buying pressure as the RSI heads into the overbought region.
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) is trading below the signal line (orange) but above the zero line, which may indicate an imminent bullish reversal. The red bars in the histogram further support this sentiment as they reduce in size towards the zero line.
Furthermore, the 14 3 3 Stochastic Oscillator line (green) crosses above the trigger line (orange), indicating a bullish moving average crossover and signaling an imminent bullish rally.
bitcoin price prediction
bitcoin price analysis indicates bullish outlook for btc price, evident by the price trend within the ascending triangle. The bulls aim to break above the upper boundary of the triangle, currently targeting $56,000, while clearing the resistance at $53,000.
However, if the bears take over the price, it may cause a pullback to the next support zone at $48,371.
Meanwhile, investors are diversifying their portfolio with bitcoin Minetrix, a btc derivative that is moving towards its goal of $12.178 billion in funds raised and which, according to analysts, has the potential to grow 10-fold at launch.
BTCMTX Secures $11.2 Million – Best bitcoin Derivative to Buy Now
You may have encountered some problems with bitcoin mining in the past, but not anymore. bitcoin Minetrix (BTCMTX) is a revolutionary new platform that allows users to stake $BTCMTX tokens and earn mining credits to mine bitcoin through a cloud-based system.
It aims to solve the complexities that come with bitcoin mining, including high hardware costs and deceptive scams.
Examine the cost entry point for #BitcoinMinetrix versus traditional cloud mining:
#BTCMTX: Economical – (No minimum purchase required)
Traditional cloud mining: expensive – (significant minimum payment required) pic.twitter.com/EqBGNevcoA
—Bitcoinminetrix (@bitcoinminetrix) February 22, 2024
You can currently buy BTCMTX tokens for $0.0136 each, but since the price will rise in less than three days, act fast to ensure quick profits.
Stake BTCMTX, 60% Annual Rewards
You also can stake your purchased BTCMTX tokens and receive a high 60% APY, with over 693 million BTCMTX tokens already staked. When you place a stake, you acquire tradable ERC-20 token credits, which are burned to give you btc cloud mining power.
Furthermore, by purchasing and betting on the platform, you can become a competitor in the $30,000 Mine Throwing Contest. Ten winners will be selected from all entries and each will receive a $3,000 prize.
crypto analyst Jacob Bury says BTCMTX has the potential for 10x gains after its upcoming 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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