Bitcoin Price Prediction: BTC Soars to 9% High in 27 Months as BlackRock’s Bitcoin ETF Receives Record $1.3 Billion Inflows. Is it time to buy BTC?

adminFebruary 28, 2024

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Bitcoin price rose 9% in the last 24 hours. Traded for $56,702 As of 5:19 a.m. EST, trading volume had increased 207% to $50 billion.

BTC has finally crossed the $55,000 threshold, a milestone that coincides with BlackRock’s spot BTC ETF seeing daily inflows of $1.3 billion. This slightly surpassed the previous record of $1 billion and brought the fund’s total assets under management (AUM) to $6.6 billion.

As BTC approaches $55,000, the ‘New Nine’ spot Bitcoin ETF trading volume has hit a new daily high.
BlackRock’s IBIT accounted for more than 50% of daily trading volume and also broke its own daily record by more than 30%.
— Mr Legend Crypto (@mrlegendcrypto) February 27, 2024

Additionally, another factor driving the Bitcoin price increase could be the anticipation of the halving event, which will occur in about 54 days. This event will likely reduce BTC supply and push the price even higher.

Bitcoin price is strong, aiming to break through the rising channel pattern

bitcoin price chart

Bitcoin price has continued to record exponential gains since October 2023, with bulls seen pushing the price higher within a rising channel pattern.

The bulls showed resilience by breaking above the $55,000 psychological barrier set by aiming to break the upper boundary of the channel.

BTC is currently trading above the 50-day and 200-day simple moving average (SMA), confirming continued bullish momentum. Moreover, the 50-day SMA is trading above the 200-day SMA, forming a golden cross at $28,201, confirming the bullish sentiment.

The Relative Strength Index (RSI) is trading upwards from the midline of 50 to overbought territory of 80. This indicates strong buying pressure, which may be a result of increased buyer optimism.

btcmacd btcmacd

Additionally, moving average convergence divergence (MACD) supports bullish momentum as the moving average line (blue) crosses above the signal line (orange). These bullish crossovers often encourage investors to increase their long positions.

A green bar in the histogram begins to form above the zero line, indicating the beginning of positive momentum. Additionally, the Average Directional Index (ADX) is moving north from 36, which indicates that the bullish trend is currently very strong.

Bitcoin price prediction

Current Bitcoin price analysis shows continued upward momentum aiming to break the upper limit of the rising channel. If a breakout occurs, the bulls will push the price higher, targeting $80,000.

However, if the bears take control of the price, the price could rise through a retracement back to $45,945, which is in line with the lower limit of the channel.

As Bitcoin prices soar, investors looking to diversify their investments are paying attention to Green Bitcoin, with an ICO reaching $1.2 million.

Green Bitcoin Secures $1.1 Million in Funding – A Greener Alternative to Bitcoin

Green Bitcoin ($GBTC) It is a project that combines the legacy of Bitcoin and the eco-friendly characteristics of Ethereum. which It is built on a sustainable foundation, in stark contrast to Bitcoin.

The project introduces Gamified Green Stake, a sustainable staking model that allows users to easily and passively earn through staking rewards.

Introducing Green Bitcoin: A revolutionary yield prediction token.
Join the Gamified Green Stake 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 win $GBTC token rewards.

To participate in this gamified approach, you can purchase $GBTC tokens at a discounted price of $0.492, which will then increase in price within 7 hours.

$GBTC staking, annual rewards 261%

You can also earn money passively in the following ways: Earned $GBTC token staking, which earned an impressive Annual Percentage Yield (APY) of 261%. There are currently over 2.2 million $GBTC tokens already staked.

Did you know that you can earn huge profits simply by staking your green Bitcoin?
If you haven’t already checked out our staking feature, visit our website and check it out! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024

of the project Profit forecasting function Simply participating in our daily BTC price prediction challenge opens up another earning opportunity. Rewards are distributed every 10 minutes, with $GBTC acting as stake and reward.

According to cryptocurrency analyst and YouTuber Jacob Bury, Green Bitcoin is one of the top five cryptocurrency presales to buy before the Bitcoin halving.

To participate in the presale, purchase $GBTC here: Official Green Bitcoin website, exchange ETH or USDT for $GBTC tokens. You can also make direct purchases using your bank card.