Bitcoin Price Prediction: This Could Be The Next Crypto To Explode As Bitcoin ETF Inflows Surpass $18 Billion

adminAugust 27, 2024

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Bitcoin’s price fell 2% over the past 24 hours to $627,000 as of 4:45 a.m. ET, while volume surged 43% to $28.08 billion.

However, despite the current price drop, Bitcoin has seen some positive developments recently, especially with regard to Bitcoin spot ETFs. According to the report, US spot Bitcoin ETFs have seen a rise in investor confidence as cumulative net inflows hit a new ATH.

According to data from Farside Investors, Bitcoin ETFs recorded net inflows of $202.6 million yesterday, August 26. This means that the total net inflows of this investment product exceeded $18 billion. Alvin Kan, COO of Bitget Wallet, speculated that investors are turning to more stable assets, and the surge in Bitcoin spot ETF investments reflects their growing confidence in BTC.

As for Bitcoin itself, the coin saw a significant price surge on August 23, breaking through the $61,000 resistance level and rising to $64,000. Since then, the coin has been trading sideways until it saw a slight decline in the last 24 hours.

Bitcoin Price Prediction

Bitcoin price has been in a correction for over 24 hours now, but the correction has not been as dramatic as the August 23 surge. This also suggests that some traders decided to take profits after the coin reached $64,000, but this is not a panic sell-off by holders trying to get rid of their BTC quickly.

Moreover, there is a possibility that BTC will bounce in the near future. The Bollinger Bands have been narrowing recently, which is a bearish signal, and the price is stuck in the lower band, confirming that there is still bearish sentiment in the market.

BTC Price Prediction

However, the coin’s Relative Strength Index (RSI) value is fluctuating between the neutral zone and the oversold zone, suggesting that a rally is likely in the near future. With a strong positive catalyst, Bitcoin could easily make up for the losses of the past day or two and head back to the $64,000 resistance level.

Especially since some experts have recently speculated that the coin will soon surge to $68,000, it may break through and surge even higher. The current RSI value clearly shows that there is a lot of room for growth, so it is possible that BTC will see a strong surge in the coming days. Still, recent fluctuations show that this coin is in a risky period, so traders looking to buy in the near future should be extremely cautious.

A promising alternative to Bitcoin

As Bitcoin corrects and finds a new bottom, many investors are looking for alternatives that don’t involve a lot of risk. One option available today is found in Solana’s ecosystem, the most promising new GameFi token, Mega Dice (DICE).

Mega Dice is the new cryptocurrency from the famous and popular cryptocurrency casino, also known as Mega Dice. The casino has been allowing customers to bet using cryptocurrencies for years and is now preparing to launch its own native token. With over 50,000 registered users, 10,000 monthly active users, and over 4,000 games and sports to bet on, the platform is one of the most popular gaming platforms today.

Additionally, those who participate in the DICE presale and become Mega Dice holders will be eligible for some unique benefits: daily rewards that change based on casino performance, access to limited-edition NFTs, early bird discounts if you sign up during the ICO, and even higher referral rewards.

Recommend and earn $Dice! 🚀💰
Exciting news! You can still refer users to the Mega Dice pre-sale and earn a generous 10% commission on every referral purchase. Here’s a quick guide on how to get started.
1. Visit: https://t.co/E5WFsXQhfQ.
2. Connect: Connect your wallet.
3.… pic.twitter.com/6W2nDy85mE
— Mega Dice Casino (@megadice) August 26, 2024

The DICE ICO has been going on for quite some time and is currently on its way to its second million dollar raise. So far, it has raised $1.75 million and is only $250,000 away from its next big milestone. DICE tokens are currently selling for $0.110529 and can be purchased with SOL, ETH or BNB.

The project is also in the final stages of a $2.25 million airdrop split into three seasons. Seasons 1 and 2 have already ended, but Season 3 is still ongoing, and you still have a chance to participate and win money. All you have to do is wager at least $5,000 over a 21-day period. Popular crypto YouTuber TodayTrader explains everything in a video explaining how to qualify for the DICE airdrop.