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bitcoin price rose 2% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $60,645 at 3:11 a.m. EST on trading volume that increased 30% to $34 billion.
This comes as Franklin Templeton CEO Jenny Johnson says traditional finance (TradFi) is underestimating the sheer scale of bitcoin transactions.
In 2023, the bitcoin blockchain processed more than $36.6 trillion in transactions as the market recovered from a tough year — more than Visa and Mastercard combined, Johnson said.
bitcoin price is looking for a bullish rally
bitcoin price has been trading inside a sideways pattern as bulls and bears battle it out in a consolidation phase. btc has been trading between the $61,000 resistance and the $56,670 support, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.
bitcoin price has broken above the 50-day simple moving average (SMA) as bulls look to push a bullish stance higher. If the upside rally continues, bitcoin price could clear the immediate resistance at $62,135, coinciding with the 200-day SMA.
Additionally, the Relative Strength Index (RSI) is trading in equilibrium, currently at 55, which supports the token being in consolidation.
The moving average convergence divergence (MACD) is also bullish as it crosses above the neutral line. The green bars on the histogram also extend beyond the zero line, showing that the asset is in positive momentum.
According to bitcoin price analysis, btc is showing signs of an incoming bullish rally, with the price already re-attempting the resistance zone. btc could surge higher if the bullish stance is boosted at this level, as bulls are targeting $66,700.
<img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201255%20508'%3E%3C/svg%3E" alt="Graphical analysis of the price of bitcoin Source: GeckoTerminal.com” width=”1255″ height=”508″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-While-Franklin-Templeton-Says-TradFi-Underestimates-BTC39s.png 1255w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-300×121.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-1024×414.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-768×311.png 768w” data-lazy-sizes=”(max-width: 1255px) 100vw, 1255px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-While-Franklin-Templeton-Says-TradFi-Underestimates-BTC39s.png”/>
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-While-Franklin-Templeton-Says-TradFi-Underestimates-BTC39s.png" alt="Graphical analysis of the price of bitcoin Source: GeckoTerminal.com” width=”1255″ height=”508″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-While-Franklin-Templeton-Says-TradFi-Underestimates-BTC39s.png 1255w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-300×121.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-1024×414.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-22_10-11-36-768×311.png 768w” sizes=”(max-width: 1255px) 100vw, 1255px”/>
However, if the bears take control of the price at this level, btc could undergo a correction, with $56,000 acting as immediate support.
As bitcoin price rises, investors rush to buy a new meme coin called crypto Stars (STARS)which according to YouTuber Jacob Bury has the potential to shoot up to 10 times after launch.
crypto All-Stars Presale Raises Over $634,000 in One Week: Best Meme Coin to Buy Now?
Just over a week after its release, The stars of cryptocurrencies has already raised over $634,000 even as the cryptocurrency market crashed.
The project is the first in the industry to introduce staking of multiple meme coins, regardless of blockchain, on a single staking protocol.
The standout feature of crypto All-Stars is its MemeVault protocol, which allows holders of popular meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to stake their tokens together.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”12.166666666667″>
crypto All-Stars, a brand new player in the meme coin space, launched just 24 hours ago and is already generating buzz.
Here's why you should pay attention.
— web3telepath (@web3telepath) twitter.com/web3telepath/status/1824051732562784551?ref_src=twsrc%5Etfw”>August 15, 2024
This means that investors can earn rewards in the native $STARS token, simplifying the staking process for multiple meme coins.
Meme coins that can be used in crypto All-Stars include Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
Currently, investors can take advantage of a stratospheric annual percentage yield (APY) of around 2,345% putting their acquired tokens into play.
With $STARS pre-sale price at just $0.0013966, now is the perfect time to secure your investment.
The price will increase in less than a day, so interested investors will need to buy early to secure the best deal.
Can Buy $STARS directly from the project's official website here using eth, BNB or credit cards.
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