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bitcoin price managed to print a slight bitcoin/”>gain in the last 24 hours to trade at $67,191.10 at 7:34 am EST.
Despite the lackluster btc price performance in 24 hours, Bitwise's head of alpha strategies, Jeff Park, predicts that the price of the cryptocurrency will rise to $92,000 if former US President Donald Trump takes back the White House.
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Draw twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc Price Against Trump Odds (via twitter.com/Polymarket?ref_src=twsrc%5Etfw”>@polimercado) from 8/15 to 10/20 reveals some sharp changes, particularly as Harris and Trump took turns leading. By applying merger arbitrage style probability math, I project that a Trump victory could take btc to ~$92,000
Take that however you want pic.twitter.com/OGy8M3Vju1
-Jeff Park (@dgt10011) twitter.com/dgt10011/status/1848705737272217968?ref_src=twsrc%5Etfw”>October 22, 2024
bitcoin price rebounded from support
4-hour chart for btc/USDT (Source: x/Yl19JLOM/”>TradingView)
bitcoin price recovered from the support at $65,937.66 after briefly falling below this technical safety net in the last 24 hours. After recovering above this crucial mark, the price of the leading cryptocurrency has been in a positive sequence and is now trying to convert the resistance level of $67,937.34 into support.
If btc closes a 4-hour candle above $67,937.34 within the next 12 hours, the crypto could have the necessary technical foundation to continue rising in the next 24 hours. Afterwards, traders could push bitcoin price up to $69,693.15.
On the other hand, the bitcoin Failure of the price to close a 4-hour candle above $67,937.34 in the next 12 hours could end the crypto king's short-term positive sequence. In this alternative case, traders could start taking short positions for the cryptocurrency. btc could then end up losing the support at $65,937.66 and fall to $63,401.48.
Bulls are slowly starting to take control of the bitcoin price
The technical indicators on the btc 4-hour chart suggest that the price of bitcoin could rise during the next trading day. In particular, the Moving Average Convergence Divergence (MACD) indicator is about to trigger a major bullish technical flag.
In the last few hours, the MACD line has risen towards the MACD signal line. Now, the former is trying to surpass the latter. If this intersection occurs, it could indicate that the price of bitcoin has entered a positive trend and will continue to rise.
Meanwhile, buyers recently gained the upper hand on btc's 4-hour chart, as suggested by the positioning of the Relative Strength Index (RSI) line above its Simple Moving Average (SMA) line.
However, the current RSI reading below 50 still warns of a bearish grip on the price of the leading cryptocurrency. However, the positive slope of the RSI suggests that the bulls are currently gathering strength against their bearish counterparts.
With the US presidential election now just 12 days away, investors may want to take a look at the new political meme coin. FreeDum Fighters (DUM).
Is a new project that YouTuber Jacob crypto Bury, with 43.1k subscribers, calls a meme coin with the potential to generate 10x returns for investors “an absolute beast.”
A humorous view of the upcoming US elections
FreeDum Fighters (DUM) offers a light-hearted look at the upcoming United States presidential election with a humorous take on political events. With the political rivalry between Trump and Democrat Kamala Harris heating up, the project introduces its own clash between the fictional characters of Magatron and Kamacop.
Investors not only laugh when political events hit the market, but they can also earn some truly impressive staking rewards.
Unlike conventional pre-sales that offer a single staking return for locking the project token, the team behind FreeDum Fighters (DUM) has chosen to take a different approach and offer rewards tied to both Magatron and Kamacop.
This is done to encourage a sort of gamified choice where pre-sale investors, who also become voters, are rewarded for backing one of the project's characters.
In one corner is Magatron, also known as “The MAGA Machine,” which offers pre-sale buyers who stake their tokens up to 405.78% in annual rewards. In the other corner is Kamacop, which offers its backers a dazzling 1,766.16% staking return.
Betting on the future of DUM
Although the meme coin is still in the early stages of its pre-sale, it has already raised more than $262,000.
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Who's ready for the debates? pic.twitter.com/HWYUTwcyyF
– FreeDum Fighters (@Freedum_Fighter) twitter.com/Freedum_Fighter/status/1849402285496914412?ref_src=twsrc%5Etfw”>October 24, 2024
DUM sells for $0.00005 and can be purchased with eth, BNB, BASE, SOL, USDT or USDC. Once purchased, tokens can be locked through the staking/voting page for massive staking rewards.
A price increase will occur in less than 30 minutes, so buy quickly if you are interested.
Visit DUM here.
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