Alan Draper
Clickout Media LTD
This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.
Bitcoin (BTC) has seen tremendous volatility in 2023, rising sharply in June before falling 16% in the following weeks.
As the next halving approaches in 2024, one trader predicts that the world's largest cryptocurrency could reach a new all-time high before the event occurs.
With new altcoins like Bitcoin BSC (BTCBSC) also gaining momentum, the crypto market appears primed for an exciting few months ahead.
Bitcoin bounces back above $25k as bulls take control
Bitcoin has begun picking up momentum in recent weeks, rebounding from the support level located at $25,000.
Since that rebound six days ago, BTC's value has risen nearly 6%, erasing most of the losses sustained in the ten days prior.
Now, Bitcoin is hovering around $26,710, having posted its first bullish weekly close since early August.
Price has climbed above the 20-day Exponential Moving Average (EMA) on the daily chart and appears to be heading for a test of the 50-day EMA in the coming days.
Additionally, the Crypto Fear & Greed Index has ascended to 46 – significantly higher than its value last month.
These indicators suggest that investor sentiment regarding Bitcoin is turning positive once more.
If BTC can break above the 50-day EMA convincingly, it could pave the way for further upside in the near term.
Crypto analyst BitQuant believes new all-time high is inbound before 2024 halving
According to prominent crypto analyst BitQuant, Bitcoin could be poised to reach a new all-time high before its next halving event in April 2024.
In a recent post on X, BitQuant stated that BTC will likely surpass its current record high of nearly $69,00rel="nofollow" 0 sometime in the next six months.
However, BitQuant believes that Bitcoin will not stop at this pre-halving peak – instead, he predicts BTC will continue rallying after the halving and hit the $250,000 level later in 2024.
BitQuant’s bullish outlook aligns with historical price trends surrounding Bitcoin halving events.
The supply shock typically causes FOMO among investors, prompting increased demand (and price).
With the block reward set to be cut in half in just over six months, many investors (including BitQuant) believe scarcity could drive BTC well above its previous all-time high.
New BTC clone Bitcoin BSC also bullish as token raises $2.7m in presale & nears soft cap goal
With Bitcoin gaining momentum, the stage may be set for a broader crypto market rally in the months ahead.
This presents an opportunity for investors to get in early on promising new projects – with Bitcoin BSC emerging as one of the most notable contenders in the space.
Built as a BEP-20 token on the Binance Smart Chain, Bitcoin BSC (BTCBSC) aims to simulate Bitcoin’s original block rewards and distribution schedule.
However, instead of using energy-intensive mining, Bitcoin BSC uses a sustainable staking model to reward holders with BTCBSC tokens.
According to Bitcoin BSC’s staking dashboard, over 1.3 million BTCBSC tokens have been staked already, with holders able to obtain estimated yields of 192% per year.
Bitcoin BSC's presale has already raised over $2.7 million towards its $3.96 million soft cap goal as hype begins to build around this innovative token.
The token has been featured in Cointelegraph, Yahoo Finance, and other major crypto news outlets – signifying its growing recognition and potential.
With presale tokens priced at just $0.99, matching Bitcoin’s price in 2011, Bitcoin BSC looks to offer substantial upside potential if it sees even a fraction of the growth experienced by BTC.
Unsurprisingly, this unique setup has caught the attention of the crypto influencer community, with Jacob Bury stating he believes it could have “10x potential”.
As an ambitious new project on the Binance Smart Chain, Bitcoin BSC checks all the boxes for crypto investors seeking exposure to a token with significant growth potential – positioning it as one to watch in the remaining months of 2023.
This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.
ETF News provides quality insights in the form of financial guides and video tutorials on buying and investing in stocks. We compare the top providers and provide detailed insight into their product offerings. We do not advise or recommend any provider but want to enable our readers to make informed decisions and trade on their own responsibility. Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss for your capital. Up to 67 % of retail investor accounts lose money trading with the brokers compared on this website. Please make sure you fully understand the risks and seek independent advice. By continuing to use this website, you agree to our Privacy Policy.
Recommended Content
Editors’ Picks
Solana dips as hawkish Fed cuts dampen market sentiment
Solana (SOL) price is trading below $130 at the time of writing on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.
Pi Network Price Forecast: PI declines as core team offloads 2 million tokens
Pi Network (PI) edges lower by 3% at press time on Thursday, marking its fifth consecutive day of losses. A transfer of 2 million PI tokens from the liquidity reserve, part of the Pi core team wallets, bolsters the bearish sentiment.
Cardano Price Forecast: ADA flips bearish as derivatives markets flout network growth
Cardano (ADA) extends losses by 5% at press time on Thursday, following the 3% decline on the previous day and breaking the local resistance trendline. Derivatives data indicate a bearish shift in the narrative, as Open Interest and the number of active long positions decline.
Sei Price Forecast: SEI slips despite volume surge as Xiaomi partnership boosts adoption outlook
Sei (SEI) price trades in red, below $0.137 at the time of writing on Thursday, after retesting its key resistance level the previous day. Despite the pullback, on-chain data and market sentiment remain bullish.
Crypto Today: Bitcoin, Ethereum, XRP tilt toward breakout on risk-on sentiment
Bitcoin (BTC) kicked off October on a strong note, with the price breaking above $116,000 on Wednesday. Despite a market-wide expectation that September is usually a bearish month for cryptocurrencies, BTC posted gains of 5.31%.
Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut
Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.