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bitcoin price rose 9% in the last 24 hours bitcoin/”>trading at $56,702 at 05:19 am EST on trading volume which increased by 207% to $50 billion.
btc finally surpassed the $55,000 threshold, a milestone that coincides with BlackRock's btc spot ETF witnessing a daily inflow of $1.3 billion. This surpassed its previous record of just over $1 billion and raised the fund's total assets under management (AUM) to $6.6 billion.
'New Nine' bitcoin ETF Spot Volumes Hit New Daily High as btc Nears $55,000
BlackRock's IBIT accounted for more than 50% of the daily trading volume and even surpassed its own daily record by more than 30%.— Mr. Legend crypto (@mrlegendcrypto) February 27, 2024
Furthermore, another factor causing the gain in bitcoin price may be the anticipation of the halving event that will occur in about 54 days. The event will decrease the supply of btc and will likely drive the price up even further.
bitcoin price is bullish and aims to overcome the ascending channel pattern
<img decoding="async" class="alignnone size-full wp-image-484221" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price chart” width=”1281″ height=”555″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Soars-9-to-27-Month-High-as.png 1281w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-300×130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-1024×444.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-768×333.png 768w” data-lazy-sizes=”(max-width: 1281px) 100vw, 1281px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Soars-9-to-27-Month-High-as.png”/><img decoding="async" class="alignnone size-full wp-image-484221" src="https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Soars-9-to-27-Month-High-as.png" alt="bitcoin price chart” width=”1281″ height=”555″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Soars-9-to-27-Month-High-as.png 1281w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-300×130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-1024×444.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/IMG_8816-768×333.png 768w” sizes=”(max-width: 1281px) 100vw, 1281px”/>
bitcoin price has continued to post exponential gains since October 2023, which has seen the bulls lift the price within the ascending channel pattern.
The bulls have shown resistance, breaking through the psychological barrier set at $55,000, while aiming to breach the upper boundary of the channel.
btc is currently trading above the 50- and 200-day SMA, confirming sustained bullish momentum. Furthermore, the 50-day SMA is trading above the 200-day SMA, forming a golden cross at $28,201, affirming the bullish sentiments.
The Relative Strength Index (RSI) is trading up from the mid-level of 50 to the overbought region at 80. This is an indication of intense buying pressure, which may be a result of increased optimism from buyers.
Furthermore, the moving average convergence divergence (MACD) supports the bullish momentum as the moving average line (blue) crosses above the signal line (orange). This bullish crossover is usually a stimulus for investors to increase their purchase positions.
The green bars on the histogram began to form above the zero line, indicating the beginning of positive momentum. Furthermore, the average directional index (ADX) is moving north at 36, indicating that the current uptrend is very strong.
bitcoin price prediction
The current bitcoin price analysis shows sustained bullish momentum as the bulls aim to breach the upper boundary of the ascending channel. A breakout will see the bulls push the price higher, with a target of $80,000.
However, if the bears take control of the price, they can push the price through a pullback, back to $45,945, coinciding with the lower boundary of the channel.
As the price of bitcoin soars, investors looking to diversify their investments are looking to green bitcoin, with its ICO approaching $1.2 million.
Green bitcoin Gets $1.1 Million in Funding: A Greener Alternative to bitcoin
Green bitcoin ($GBTC) is a project that combines the legacy of bitcoin with the ecological attributes of ethereum. and so? It is built on a sustainable foundation that is in stark contrast to bitcoin.
The project introduces a sustainable staking model, Gamified Green Staking, where users can easily earn passively through reward staking.
Introducing Green bitcoin – a revolutionary prediction-to-earn token.
Join us on our gamified green betting platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio—GreenBitcoin (@GreenBTCtoken) December 3, 2023
Green bitcoin allows you to participate in daily and weekly btc price prediction challenges, where you can earn rewards in $GBTC tokens.
To participate in this gamified approach, you can purchase $GBTC tokens at a discounted price of $0.492, before the price increases in less than seven hours.
Stake $GBTC, 261% annual rewards
Plus, you can earn passively stake your acquired $GBTC tokens, earning an impressive annual percentage yield (APY) of 261%. Currently, there are over 2.2 million $GBTC tokens that have already been staked.
Did you know you can win HUGE just by staking your green bitcoin?
If you haven't already, visit our website and check out the Staking feature. pic.twitter.com/6wiv99ER0O
—GreenBitcoin (@GreenBTCtoken) February 25, 2024
The projects Prediction feature to win Furthermore, it opens up another earning opportunity that you only need to participate in the daily btc price prediction challenges. Rewards are distributed every 10 minutes, with $GBTC acting as both stake and reward.
According to Jacob Bury, crypto analyst and YouTuber, Green bitcoin is among the top five pre-sales of cryptocurrencies to buy ahead of the bitcoin halving.
To participate in the pre-sale, you can buy $GBTC from the official website of bitcoin Verdeand exchange eth or USDT for $GBTC tokens. You can also buy directly with your bank card.
Related news
Green bitcoin: gamified green bet
- Contract audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict to Win – Featured on Cointelegraph
- Staking Rewards and Token Bonuses
- $1+ Million Raised
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