Bitcoin prices fell a few percent to trade at $62,091 per coin, with trading volume down 42% to $51 billion as of 05:11 AM EST. Previously, JPMorgan Chase predicted that Bitcoin prices would adjust after the halving event and fall to $42,000. Although Bitcoin has always seen price increases in historical periods after halvings, the investment bank expects a downward trend due to the decline in miner rewards, rising production costs, and thus lower miner profits.
Bitcoin price bullish, aims to breakout of ascending triangle
BTCUSD chart analysis source: Tradingview.com
Bitcoin price has been trending upwards this week, moving out of the range around $53,000. The $64,000 level has become a local resistance and a major hurdle to overcome in the bull market.
Bitcoin remains well above the 50-day and 200-day simple moving averages (SMAs), which gives the bulls a positive outlook.
The Relative Strength Index (RSI) is also bullish and is trading above the 56 level, heading north, showing some growing momentum, suggesting that buying pressure is building.
The Moving Average Convergence Divergence (MACD) indicator shows that Bitcoin is now ready to rebound from a retracement as the moving average (blue line) is slightly above the signal line (orange line), which is a sign of a possible bullish crossover.
Moreover, the green bars started forming above the zero line indicating the start of positive momentum to the upside. The Stochastic Oscillator 14 3 3 line (green line) crossed above the trigger line (orange line) confirming the bullish crossover of the moving averages, which is a signal of an upcoming bullish trend.
Bitcoin Price Prediction – Is $70,000 Possible?
Bitcoin price is trading around its center point of $606,824. Bitcoin’s current 1-hour chart analysis shows that bulls are ready to use this level to push the price higher to break above the upper boundary of the ascending triangle.
Moreover, the 50-day SMA is trading above the 200-day SMA, forming a golden crossover at $51,627. The bulls may use this to push the price higher with a target of $70,000 and overcome the all-time high of $68,000.
However, if the bears take control of the price at this level, Bitcoin could drop to the $58,000 support level.
Meanwhile, as Bitcoin bulls look for more buying opportunities, some are looking at the Green Bitcoin ($GBTC) ICO as an attractive, environmentally friendly alternative to Bitcoin.
Green Bitcoin: A Promising Alternative to Bitcoin
Green Bitcoin (GBTC) is an environmentally friendly version of Bitcoin that uses a gamified green staking model to reward investors. The project combines the traditional characteristics of Bitcoin with the environmentally friendly characteristics of the Ethereum network.
The gamified staking model has made a splash in the crypto space, with GBTC’s presale event having raised over $1.34 million, close to its $1.47 million goal.
Introducing Green Bitcoin: A Revolutionary Predicted Yield Token.
Join our gamified green staking platform and your predictions can turn into profits!
website:
https://t.co/dG5cEeCtRs
telegraph:
https://t.co/bWanoe0vHv
pic.twitter.com/eXuGQBkxio
– GreenBitcoin (@GreenBTCtoken)
December 3, 2023
With the Green Staking Model, you can easily earn rewards when you predict the future price of Bitcoin. Participate in the pre-sale event and buy $GBTC at a discounted price of $0.5362. However, this price will increase in less than four days, so act now to get the best deal.
Pledge $GBTC, annualized return rate 239%
Green Bitcoin also offers a staking option to earn passive income. You can stake your $GBTC tokens and earn an annualized yield of 239%. More than 2.4 million $GBTC tokens have been staked.
Did you know that you can earn huge returns by staking your Green Bitcoin?
If you haven’t done so already, go to our website and check out the staking feature!
pic.twitter.com/6wiv99ER0O
– GreenBitcoin (@GreenBTCtoken)
February 25, 2024
You can also earn money through the project's "Prediction Earning" feature by participating in the daily Bitcoin price prediction challenge. Rewards are distributed every 10 minutes, with $GBTC as the reward token.
According to popular YouTube channel CryptoNews, Green Bitcoin has the potential to surge 10 times when it launches.
To participate in the pre-sale event, you can purchase $GBTC from the official Green Bitcoin website and exchange $GBTC tokens with ETH or USDT. You can also purchase directly using a bank card.
Related News
How to Safely Buy Bitcoin Online
Dogecoin Price Prediction: Can DOGE Reach $1 in 2024?
Upcoming Crypto Presale: Unlock Early Investment Opportunities!
Green Bitcoin - Gamifying Green Staking
Rating
Contracts audited by Coinsult
Early Access Presale Now Open - greenbitcoin.xyz
Predicting earnings - Featured in Cointelegraph
Staking Rewards and Token Rewards
Raised over $1 million
learn more
Join our Telegram channel for the latest news coverage
English 
Chinese (China) 
Chinese (Hong Kong) 