The Bitcoin price is up a fraction in the past 24 hours and almost 10% in the last week to trade at $63,261 as of 03:28 a.m. EST on trading volume that surged 44%.
The recent surge comes as BlackRock CEO Larry Fink said he’s a major believer in Bitcoin. Endorsing Bitcoin as a legitimate asset, Fink called BTC digital gold.
“I’m a major believer that there is a role for Bitcoin in portfolios,” he told CNBC. “I believe you are going to see that as one of the asset classes that we all look at. I look at it as digital gold.”
Market sentiment is now bullish, with the Greed and Fear Index showing elevated levels of greed (65) in the market.
Bitcoin Price Prediction
The Bitcoin price is trading with a bullish bias, recording a series of higher highs over the last week. It is confronting resistance due to the 38.2% Fibonacci retracement level of $65,772, stuck within the Fibonacci Golden Zone.
Traders are already cashing in on the ground covered, seen with the Relative Strength Index (RSI) inclined south to show falling momentum. The red candlestick on the daily timeframe also reflects this outlook.
Nevertheless, the position of the RSI above the mean level of 50 shows that the bulls continue to clead the BTC market. The Moving Average Convergence Divergence (MACD) is also above the signal line (orange band), pointing to bullish dominance over bearish hands or bearish bets.
With this outlook, the Bitcoin price could continue the uptrend, flipping the 38.2% Fibonacci retracement level into a support. Beyond this roadblock, the bulls would have to overcome resistance due to the 23.6% Fibonacci retracement level of $68,746. A stable candlestick close above this level would set the pace for more gains, with BTC likely to ascend to the $73,553 peak.
Traders looking to open long positions on BTC should wait for the Bitcoin price to record a stable candlestick close above $65,772.
GeckoTerminal: BTC/USD 1-day chart
Conversely, if seller momentum continues, the Bitcoin price could extend the fall. A decisive candlestick close below the 50% Fibonacci placeholder of $63,369 on the one-day timeframe would attract more selling.
Based on the Fibonacci indicator, the Bitcoin price could test the 60,965 level next, or worse, extend the fall to the 78.6% Fibonacci retracement level of $57,543.
Meanwhile, experts such as YouTuber Oscar Ramos say 99Bitcoins (99BTC) is among the best presales to buy now.
A key reason for that is that as intuitional interest for Bitcoin continues to grow, so BTC derivatives stand to gain.
Promising Alternative To Bitcoin
99BTC is the native cryptocurrency for the 99Bitcoins ecosystem, a long-established educational platform that is pioneering a new Learn-to-Earn rewards model.
The groundbreaking project incentivizes learning through a unique mix of gamification and a leaderboard reward system.
This ensures users feel like their learning is bearing tangible and therefore spendable benefits. You basically earn crypto while learning about crypto.
99BTC tokens are priced at $0.00114. The price will increase in less than a week so don’t wait too long if you plan to join investors who have already pumped more than $2.4 million into the project.
Visit and buy 99Bitcoins here .
Also Read:
- 99Bitcoins Price Prediction – $99BTC Profit Potential in 2024
- 99Bitcoins Launches New Learn-to-Earn Airdrop Presale – TodayTrader Video Review
- Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!
