Bitcoin

Bitcoin Price Prediction: As BTC Breaks Above $72K, Experts Say This Green Alternative To Bitcoin Might Be The Best Crypto To Buy Now

3 Mins read

[ad_1]

Join Our Telegram channel to stay up to date on breaking news coverage

The Bitcoin price is up 10% in the last week to trade for $72,327 as of 02:20 EST time.

Over the last day, however, the Bitcoin price is only up a fraction, as trading volume drops 5%. The cool-off has given altcoins time to shine, with the likes of Avalanche (AVAX) recording double-digit gains.

Nevertheless, the Bitcoin price continues to hold above the $72,000 threshold, as markets anticipate the BTC halving, just a little over five weeks.

According to a recent research by blockchain data and intelligence platform, Glassnode, “[Bitcoin] has broken to its fourth cycle all-time-high (ATH), rallying above $72k,” adding that the move had pushed sentiment a step closer to euphoria.

Bitcoin Price Prognosis As BTC Market Goes Into Euphoria

The Bitcoin price is confronting resistance due to the $73,000 threshold, with the potential for more gains. This is seen with the climbing Relative Strength Index (RSI), which points to rising momentum and is reinforced by the growing volumes of the Awesome Oscillator (AO), suggesting a strong presence of the bulls in the BTC market.

The growing bars of the volume indicator, flashing green, as the bullish trend remains strong, also reinforce the bullish outlook. Enhanced buyer momentum among the bulls could see the Bitcoin price extend past the $73,000 blockade to hit the $80,000 psychological level. Such a move would constitute a climb of about 8% above current levels.

Bitcoin

TradingView: BTC/USDT 1-week chart

On the other hand, if traders begin to cash in on the gains made so far, the Bitcoin price could drop, first slipping below the $69,000 threshold. Enhanced seller momentum could see BTC price foray into the supply zone between $62,278 and $65,618. To confirm the continuation of the downtrend, however, the Bitcoin price must break and close below the $64,044 mean threshold.

On-chain Metrics To Support Bitcoin Price Bullish Outlook

Data according to IntoTheBlock’s Global In/Out of The Money (GIOM) metric shows there no resistance for the Bitcoin price in its journey north. Instead, the pioneer cryptocurrency enjoys strong support downward.

The zone between $48,659 and $69,339 is particularly of interest, with approximately6.55 million addresses holding nearly 2.86 million BTC tokens purchased at an average price of $57,764. Any efforts  to push the price lower would be countered by buying pressure from these addresses as they look to buy the dip.

GIOM

BTC GIOM

More closely, the In/Out of the Money Around Price (IOMAP) metric shows that the area between $67,800 and $71,519 provides strong support for the Bitcoin price. Any efforts to push the price lower than this level would be countered by strong buyer momentum by all the addresses that hold BTC within that range.

IOMAP

BTC IOMAP

While the Bitcoin price pushes to reclaim its peak, investors looking to diversify their gains can invest in GBTC. This comes as some experts say this green alternative to BTC is the best crypto to buy now with 10X upside potential on launch.

Promising Alternative To Bitcoin

GBTC is the token that powers the Green Bitcoin ecosystem. This cryptocurrency project meets users where the legacy of Bitcoin and the eco-friendliness of Ethereum intersect. It uses a predict-to-earn mechanism where participants engage in daily and weekly BTC price prediction challenges for attractive rewards.

The token’s staking, which offers an estimated 126% annual return, is a big attraction. Already 4.5 million tokens have been staked with the distribution rewards set at a rate of 1.6026 $GBTC tokens per Ethereum (ETH) block.

The rewards are to be disbursed over five months, after which so-called Gamified Green Bitcoin Staking will be launched. Under the gamified staking mechanism, holders predict the Bitcoin price in daily contests and earn rewards when they are right.

The project is still in the presale stage, with upwards of $3.831 million already in the bag, out of a target objective of $4.171 million.

GBTC

Green Bitcoin’s GBTC tokens sell for $0.8782 each, but act fast to buy if you are interested because a price hike is coming in less than five days..

Visit Green Bitcoin to buy GBTC here.

Also Read:

Green Bitcoin – Gamified Green Staking

Green Bitcoin
  • Contract Audited by Coinsult
  • Early Access Presale Live Now – greenbitcoin.xyz
  • Predict To Earn – Featured In Cointelegraph
  • Staking Rewards & Token Bonuses
  • $1+ Million Raised

Green Bitcoin


Join Our Telegram channel to stay up to date on breaking news coverage


[ad_2]
Source link

Related posts
Bitcoin

Cardano Founder Clears FUD About Hydra, Scaling, Partners

2 Mins read
[ad_1] In a series of messages over the weekend, Charles Hoskinson, the founder of Cardano, addressed various concerns and rumors circulating about…
Bitcoin

Ethereum Price Grinds Lower, Why Pullback Is Not Over Yet

2 Mins read
[ad_1] Ethereum price started a downside correction below $3,650. ETH traded below $3,500 and is currently attempting a decent recovery wave in…
Bitcoin

Group Urges US President Joe Biden to Secure Release of ‘Kidnapped’ Former Federal Agent

1 Mins read
[ad_1] The Chamber of Digital Commerce, a blockchain and crypto advocacy group, has urged U.S. President Joe Biden to assist in securing…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *