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bitcoin price is up almost 5% in the last 24 hours to trade at $50,122 as of 4:50 am EST.
Trading volume soared nearly 100% amid broad market optimism after btc price surpassed the $50,000 milestone, a level last seen in December 2021.
The rally saw nearly $135 million in short positions liquidated against around $65 million in long positions.
<img decoding="async" class="aligncenter wp-image-480312 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="btc Liquidations” width=”1366″ height=”466″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations.png 1366w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-300×102.png 300w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-1024×349.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-768×262.png 768w” data-lazy-sizes=”(max-width: 1366px) 100vw, 1366px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations.png”/>btc-liquidations.png” alt=”btc Liquidations” width=”1366″ height=”466″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations.png 1366w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-300×102.png 300w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-1024×349.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to”https://technicalterrence.com/crypto/bitcoin/”>btc-liquidations-768×262.png 768w” sizes=”(max-width: 1366px) 100vw, 1366px”/>
btc Settlements, Source: glass coin
bitcoin Price to Hit $600,000 in Extended Bull Run, Top Analysts Say
In a Tuesday post on
In 2021, bitcoin reached a high of $69,000. My goal is between $200,000 and $600,000 by 2026. Fueled by trillions of dollars in global bailouts/stimuli. https://t.co/ULslIMgzee
– Tuur Demeester (@TuurDemeester) February 12, 2024
Demeester is known for his decade-long contributions to the btc space, with multiple instances between 2019 and 2020 where he gave accurate predictions. Analysts also accurately forecast the latest milestone for bitcoin price, reclaiming the $50,000 level, even as Demeester forecasts an extension to $100,000.
12 months ago, bitcoin came out of its accumulation phase and began reaccumulation. A breakout of this band will likely trigger another parabolic rally. https://t.co/uGbpqYs5s8 pic.twitter.com/T1jDZMeiNV
– Tuur Demeester (@TuurDemeester) May 18, 2020
Separately, analyst Michael Van de Poppe told his 693,000 followers on their new bitcoin ETFs. He sees btc skyrocketing to between $250k and $600k.
bitcoin price forecast amid increased capital inflow into the sector
bitcoin price surpassed the $50,000 milestone, with eyes now open on the psychological level of $60,000, standing 20% above current levels. However, this goal is threatened because btc is already overbought. This is seen with the position of the Relative Strength Index (RSI), which is above the 70 level. However, considering the tilt of the RSI towards the north, the momentum continues to increase. This means that the bullish potential is still alive for the price of bitcoin.
Furthermore, optimism about the price of bitcoin continues to abound and technical indicators are leaning in favor of the upside. Meanwhile, the region between $40,643 and the 50-day simple moving average (SMA) at $43,351 continues to provide a solid base of support for btc as multiple levels of buyer congestion reside there. Among them, the supply zone, which is currently acting as a bullish switch between $44,300 and $46,760?
The moving average convergence divergence (MACD) is also moving above its signal line, suggesting a strengthening of the bullish cycle. Furthermore, with the histogram bars flashing green, the bulls maintain a strong presence in the btc market.
<img decoding="async" class="aligncenter wp-image-480313 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin” width=”1273″ height=”544″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-1024×438.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-768×328.png 768w” data-lazy-sizes=”(max-width: 1273px) 100vw, 1273px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to.png”/><img decoding="async" class="aligncenter wp-image-480313 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to.png" alt="bitcoin” width=”1273″ height=”544″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-Top-Analyst-Sees-BTC-Price-Soaring-to.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-1024×438.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-13_12-43-26-768×328.png 768w” sizes=”(max-width: 1273px) 100vw, 1273px”/>
TradingView: btc/USDT 1-Day Chart
On the other hand, considering the RSI position well above the 70 level, at 78, btc is already massively overbought. If the bears begin to cash in on the gains made so far, the price of bitcoin could fall. This could cause the price of bitcoin to fall to the supply zone between $44,300 and $46,760. A break and close below the midline of this order block at $45,554 would set the tone for a southward extension.
This could cause bitcoin price to decline to test the 50-day SMA at $43,522 or, in a severe case, fall below the ascending trend line.
Meanwhile, BTCMTX is another option for investors looking for other ways to take advantage of bitcoin's bull run. BTCMTX is ranked among the crypto-icos-2024-top-picks-big-returns-juliana-clarisse-calsona-zcxqe” target=”_blank” rel=”noopener”>best crypto ICOs of 2024 as its pre-sale quickly closes at the $11 million milestone.
Promising alternative to bitcoin
BTCMTX is the native cryptocurrency of the bitcoin Minetrix ecosystem. It provides investors entry into the btc space ahead of the halving event in April.
4/ The next halving is scheduled for the period from April 8 to May 18, 2024, which is very soon.
This will reduce the price per block to 3,125 btc, but will cause the price of the asset itself to increase. pic.twitter.com/g1s6IqdY8O
— AnyExchange (@_Any_Exchange_) February 13, 2024
crypto-investments-top-picks-explosive-growth-calsona-j8nhe” target=”_blank” rel=”noopener”>Analysts List BTCMTX Among Their Top Picks for Penny Cryptocurrencies with Explosive Growth Potential. The project operates as a tokenized cloud mining platform where community members can mine btc in a decentralized manner.
Exploring mining opportunities $btc through #BitcoinMinetrix!
Perfect initiation for beginners.
Profitable without equipment expenses.
Don't worry about the area, noise or temperature.
Effortless and hassle-free updates. pic.twitter.com/vw7Wja0x0V—Bitcoinminetrix (@bitcoinminetrix) February 10, 2024
Token holders can stake their holdings for mining credits and then redeem them for mining hash power.
Beyond that, the project ensures that investors do not have to deal with the challenges of high hardware costs and deceptive scams. This has stopped many people from mining btc.
Be cautious of possible #BitcoinMinetrix scams.
Always authenticate websites or profiles before interacting.
Protect your private keys and personal information, never share them. pic.twitter.com/tWFgGsDaAu
—Bitcoinminetrix (@bitcoinminetrix) February 12, 2024
It also ensures that you won't have to suffer the heat, space demands, and any other hassles that come with traditional btc mining.
Exploring the benefits of #BitcoinMinetrix:
Effortless accessibility for added convenience.
Simplified pricing structure for greater efficiency.
Experience peace of mind knowing you won't have to worry about resale. pic.twitter.com/OuEk3DfXJT
—Bitcoinminetrix (@bitcoinminetrix) February 11, 2024
Funds raised have reached more than $10.752 million out of a target of $11.5556 million.
@MarathonDH faces obstacles while a power outage affects a major bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining site at the Applied Digital facility in Ellendale, impacting 7.8 EH/s hash rate.
How can the industry mitigate the risks posed by infrastructure disruptions like this?#BitcoinMinetrix has also raised more… pic.twitter.com/FisfOLTjck
—Bitcoinminetrix (@bitcoinminetrix) February 12, 2024
Investors who wish to purchase BTCMTX can do so on the website, where each token is sold for $0.0134. This price will only last less than two more days, making it your last chance to buy BTCMTX at the lowest price possible.
There are only 2 days left until the conclusion of #BTCMTX Stage 25!
What is the meaning of the @coinbase transaction in bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining? pic.twitter.com/6Z3cbCYSBk
—Bitcoinminetrix (@bitcoinminetrix) February 13, 2024
Visit bitcoin Minetrix to pre-sell BTCMTX here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY
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