Bitcoin Price Prediction: BTC briefly broke $70K and hit a new ATH as investors flocked to this Bitcoin derivative with 159% APY.

adminMarch 10, 2024

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Bitcoin price is up 2% over the past 24 hours, trading at $68.5K as of 1:30 AM ET.

This comes after the king of crypto briefly breached the psychologically important $70,000 level on March 8, setting a new all-time high (ATH).

The Nine Spot #Bitcoin ETFs are buying millions of dollars worth of stocks. $BTC everyday.
This is likely the main reason we invested $70,000.
We’ve processed some of your sell orders, so you don’t have to worry.
We plan to raise it to 1 million won soon.
It’s just a matter of time. pic.twitter.com/Q6mXIRPiYy
— Crypto Rover (@rovercrc) March 8, 2024

Bitcoin Price Review: Will BTC Recover Above $70,000?

Analyzing the Bitcoin chart, we can see that the Bitcoin price is consolidated between $68 and $70,000. However, amidst this consolidation, Bitcoin has now completed forming an ascending triangle, which could indicate that another breakout is approaching. If the bulls break above the $70,000 resistance level, the cryptocurrency king could see another breakout.

Looking at other indicators, the current MFI (Money Flow Index) is 52.21, showing a somewhat neutral market with little buying pressure. Current values suggest that there is still room for another pump as the cryptocurrency king is not yet overbought. However, the Average Directional Index (ADX), which is used to measure the trend, maintains a value of 22, suggesting a weak trend. Despite the weakness in the trend, ADX’s northerly trajectory shows that the bullish trend is now gaining traction as it solidifies. .

2-hour BTC/USD chart | Source: TradingView

Meanwhile, as investors expect Bitcoin price to continue rising. Green Bitcoin Presale It’s emerging as another interesting way to play the Bitcoin bull market.

Eco-Friendly Bitcoin

The goal of Green Bitcoin (GBTC) is to become an eco-friendly version of the leading cryptocurrency. To achieve this, the cryptocurrency runs on the Ethereum network, which is more energy efficient as it uses less computing power.

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One big attraction is token staking, which offers annual returns of 156%. Already 3.7 million tokens have been staked with distribution rewards set at a rate of 1.6$GBTC tokens per Ethereum (ETH) block. Rewards will be paid out over 5 months, after which the so-called Gamified Green Bitcoin Stake will be launched.

In gamified staking, holdersDetermine the price of Bitcoin in daily contests and receive rewards when the price is right.

GBTC is set to capitalize on lively Bitcoin sentiment.

As institutional investors bring additional liquidity to the BTC market through spot Bitcoin ETFs, GBTC is well-positioned to capitalize on the positive sentiment towards Bitcoin. A surge in price is expected ahead of the Bitcoin halving in April.

The price of GBTC tokens is $0.7262 each, and investors can purchase them using bank cards, ETH or USDT.

Interested investors should move quickly as the price is expected to rise in about 4 days. The $2.66 million figure has already surged past $2.839 million.

Get GBTC tokens here.