Bitcoin Price Prediction: CryptoQuant Warns of BTC Liquidity Crisis on TradFi Demand as Analysts Say This Bitcoin Alternative Could Be the Best Cryptocurrency to Buy Right Now.

bitcoin price went up Bitcoin is up 1% over the past 24 hours to $67,928 as of 8:50 a.m. ET, as the king of cryptocurrencies continues to ride a wave of Bitcoin exchange-traded fund (ETF) liquidity.

This is what CryptoQuant CEO Ki Young-joo says to his 335,600 followers. on Traditional financial investors are accumulating approximately 6,896 BTC per day.

“I have accumulated 103,726 BTC in the last 7 days,” said Mr. Ki. “This is an unprecedented level of accumulation.”

If investors continue to buy BTC at this rate, he predicts that Bitcoin will face a sell-side liquidity crisis this year.

Bitcoin price has reached a critical point

BTC/USDT 4-hour chart (Source: TradingView)

that much Bitcoin The price has been in a consolidation phase between $65,600 and $68,900 over the last 48 hours. However, over the past few days, a series of higher highs and higher lows have formed a positive trend line. This could cause BTC to soon break out of its current sideways channel to the upside.

The next eight hours will have a decisive impact on the price of Bitcoin. If it can overcome the $68,900 resistance during this period, it could continue to rise over the next 24-48 hours.

Conversely, failure to close a 4-hour candle above this barrier in the next 8 hours could invalidate the bullish argument. In this alternative scenario, BTC could retest the $65,600 support level. At this point, if the downtrend continues to put pressure on BTC, it could fall as low as $62,600 in the near term.

A potential early sign of this bearish scenario would be when the Bitcoin price falls below the aforementioned positive trendline.

Technologists are not giving a clear signal about what’s next for Bitcoin price.

Technical indicators suggest that the Bitcoin price is at a decisive point, and it is not clear which indicators are there. BTC Will do it next time. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators on the 4-hour chart both indicate that the market is still trying to determine BTC’s future movement.

Although the RSI sits higher than the simple moving average (SMA) line, the difference between the two lines is almost negligible. With RSI in the neutral zone at 50, BTC’s upside potential is also roughly equal to its downside potential.

The MACD line is also at almost the same level as the MACD signal line, so it is not clear whether BTC will rise or fall in the short term. Traders and investors may want to keep an eye on how BTC reacts around the approaching peak connecting the positive trend line and the $68,900 resistance level to gauge BTC’s next move.

While investors try to determine what’s next for Bitcoin’s price, they may want to consider diversifying through: green bitcoin Funds raised from pre-sales are soaring to $2.5 million.

A greener BTC

Green Bitcoin (GBTC) aims to be a greener alternative to the market leader. To achieve this, altcoins were deployed on the computationally inexpensive proof-of-stake Ethereum network, as opposed to the energy-intensive proof-of-work Bitcoin blockchain.

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
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— GreenBitcoin (@GreenBTCtoken) December 3, 2023

Being an Ethereum-based token means GBTC can provide investors with a native staking solution without relying on third-party providers.

However, GBTC’s staking program is a more gamified solution. Token holders can participate in daily challenges to test their Bitcoin prediction skills. Gamified participation on the staking platform allows investors to earn significant rewards, including bonuses of up to 100%.

BTC Rally Possible Bitcoin Halving Surge

Bitcoin’s recent rally and mixed introduction of institutional investors could be very beneficial to smaller Bitcoin derivative projects like Green BTC. The token is also poised to ride a wave of optimism ahead of the upcoming Bitcoin halving.

GBTC tokens are selling for $0.6882 and investors can obtain them using ETH, USDT or bank cards. However, investors will need to hurry as the price of the altcoin is expected to rise in the subsequent stages of the pre-sale.

GBTC can be purchased here.

Related articles:

Green Bitcoin – Gamified Green Staking

• Coinsult’s contract audit
• Early Access Presale Now Live – greenbitcoin.xyz
• Profit Forecast – Cointelegraph Feature
• Staking Rewards and Token Bonuses
• Over $1 million raised