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The price of bitcoin has risen 3.4% in the last 24 hours and 20% in seven daysbitcoin“> trading at $51,564.70 starting at 8:15 am EST.
That helped btc regain a market capitalization of $1 trillion, a level it last reached in November 2021.
BREAKING MINUTE: $btc Market capitalization recovers $1 TRILLION pic.twitter.com/abUw0TqV2k
— The Daily Moodz (@thedailymoodz) February 14, 2024
Despite being well below its all-time high of $69,0000, bitcoin has more than tripled in price since January 2023. This rise was fueled by the release of a batch of bitcoin Spot ETFs (Exchange Traded Funds) in the US on January 11, while tThe upcoming bitcoin halving in April is another reason behind the price surge.
Bulls Ready to Push bitcoin Price Above Bullish Pennant
bitcoin price has crossed above the upper boundary of the bullish pennant pattern, indicating a continuation of the uptrend. The price has also surpassed the $50,000 mark as the bulls are now prepared to push the price higher.
<img decoding="async" class="alignnone wp-image-480702 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price” width=”1623″ height=”697″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png 1623w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-1024×440.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-1536×660.png 1536w” data-lazy-sizes=”(max-width: 1623px) 100vw, 1623px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png”/><img decoding="async" class="alignnone wp-image-480702 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png" alt="bitcoin price” width=”1623″ height=”697″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png 1623w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-1024×440.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_16-58-48-1536×660.png 1536w” sizes=”(max-width: 1623px) 100vw, 1623px”/>
btc/USD analysis. Source: Tradingview
bitcoin price had seen a slight pullback after the price broke above the pennant, and the bears were pushing the price back to retest the limit.
The bulls are now set to push the price higher, targeting the $60,000 mark in the near term, the pennant's X distance indicated on the chart. However, a correction to the $50,000 mark is expected as traders are eyeing a correction once the $60,000 level is reached.
bitcoin Price Could Break All-Time High of $69,000
<img decoding="async" class="alignnone wp-image-480701 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price” width=”1623″ height=”697″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/1708107276_355_Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png 1623w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-1024×440.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-1536×660.png 1536w” data-lazy-sizes=”(max-width: 1623px) 100vw, 1623px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/1708107276_355_Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png”/><img decoding="async" class="alignnone wp-image-480701 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/02/1708107276_355_Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png" alt="bitcoin price” width=”1623″ height=”697″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/1708107276_355_Bitcoin-Price-Prediction-BTC-Regains-1-Trillion-Market-Cap-After.png 1623w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-1024×440.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-14_17-02-49-1536×660.png 1536w” sizes=”(max-width: 1623px) 100vw, 1623px”/>
BTCUSD analysis. Source: Tradingview
The cup and handle pattern above supports the anticipated bullish rally beyond bitcoin's all-time high of $69,000. The price crossed above the cup neckline, signaling traders to add more buy positions. btc could reach $80,000 in the second quarter.
Technical indicators have a bullish bias as the 50-day and 200-day simple moving averages (SMA) provide immediate support to the price. Furthermore, the SMAs indicate a golden cross at $29,000, affirming the momentum.
The Relative Strength Index is rising above the 70 to 80 overbought level, indicating intense buying pressure on the bitcoin price.
As bitcoin traders prepare for the bullish rally, innovative bitcoin derivative bitcoin Minetrix is making significant strides, surpassing the $10.8 million mark as it races toward its $11.5 million target.
bitcoin Minetrix Revolutionize the cloud Mining, pre-sale exceeds $10.8 million
The bitcoin Minetrix The platform's mission is to make bitcoin cloud mining cheaper and more secure through decentralization.
Users can access cloud mining with minimal cost compared to other cloud mining platforms and earn btc through its mining staking feature.
All you need to do is purchase the BTCMTX token, which you need to stake to earn token rewards. You will then need to burn these token credits through the staking to mine feature in order to mine effectively and safely. You can also enjoy a 62% annual salary yield when you stake your purchased BTCMTX tokens.
Multiply your investment by 10 and win the $30,000 Minedrop Airdrop contest
The BTCMTX platform offers users the opportunity to participate in the $30,000 Mine Throwing Airdrop Contest. Participants have the opportunity to win up to $3000 and be among the top 10 winners. To qualify, all you need to do is purchase and hold BTCMTX tokens.
crypto analyst Jacob Bury sees BTCMTX as an opportunity with 10x potential for investors who get in early to the pre-sale.
With less than 17 hours left before a price surge, interested investors should act quickly to acquire BTCMTX tokens at $0.0134 each.
You can buy the tokens through the official website of BTCMTX. Connect your digital wallet to exchange your eth or USDT for the tokens. You can also use your bank card to make purchases.
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