Bitcoin Price Prediction: BTC defies ECB's 'last gasp' prediction as it flirts with $45,000, but investors flock to this BTC altcoin to play the next crypto bull run

bitcoin price has risen 5% in the last 24 hours to trade at bitcoin/”>$44.1 thousand as of 9:50 am EST after touching $45,000 earlier in the day.

This is all a far cry from November of last year, when a bit of bitcoin stability led the European Central Bank to declare in a blog entry what was it “an artificially induced last breath before the road to irrelevance.”

Since then, the king of cryptocurrencies has soared almost 170% from what the ECB saw as btc's imminent demise at around $16,400.

bitcoin price prediction

Looking at 4 of our btc/USD graphics, the 50-period moving average surpassed the 200-period moving average, showing buying pressure on bitcoin. This shows a likely short-term uptrend as the bulls now look to break through the $44,400 resistance level.

The MACD is also moving in the green zone, demonstrating a bullish dominance in the bitcoin price. On the contrary, the Relative Strength Index indicators are moving in the overbought region, showing optimism about the price of bitcoin.

According to @Whalechart, BlackRock has been buying bitcoin through the bear market, showing big players' interest in the king of cryptocurrencies. This development could also contribute to bitcoin's rise in the near term, especially with the excitement surrounding its approval of the bitcoin ETF.

ONLY IN:

BlackRock has been buying bitcoin throughout the bear market using its private trust.

This private trust was launched in 2022 with coinbase as custodian.

— Whale | Dinobet.io (@WhaleChart) December 5, 2023

Meanwhile, as the price of bitcoin rises, the bitcoin ETF token continues to attract more investors through its BTCETF token pre-sale, and its momentum shows no signs of slowing down. With a token price of $0.0064, the pre-sale has raised $2.8 million.

#BitcoinETF Stage 8 has begun! pic.twitter.com/Zxp6tAPVpB

– BTCETF_Token (@BTCETF_Token) December 6, 2023

bitcoin Price Prediction: Why BTCETF is a Great Buy Amid btc Bull Run

As the bitcoin ETF Token Pre-Sale (BTCETF) Campaign Gains Momentum, Investors Eagerly Await the Securities and Exchange Commission's (SEC) Decision on About a Dozen bitcoin ETF Applications. The innovative bitcoin investment product seeks to capitalize on the growing anticipation of SEC approvals.

There will be another price change in less than three days, so now is the time to buy to take advantage of the discount.

Transaction taxes and token burning

BTCETF intends to burn 25% of its token supply as part of its comprehensive five-stage ETF approval approach. If the price of bitcoin exceeds $100,000, the entire circulating supply will be reduced to 1.575 million tokens, with an additional 5% burn. These burns will support the future price of the bitcoin ETF token.

BTCETF is making its mark on the ever-changing cryptocurrency industry by focusing on price support, strategic objectives, and compatibility with the history of bitcoin ETFs. So don't miss the pre-sale.

Get your BTCETF tokens here.

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