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The Bitcoin price is up 9% in seven days to trade for $66,921 as of 01:20 a.m. EST time.
BTC is up 1.5% over the past 24 hours on trading volume that slumped 30%, an indication of increased risk in the market amid speculation that large holders are manipulating the market.
Dear noobs,
Bitcoin is NOT naturally going down. It is being pushed down via whales placing spoofy sell orders on exchanges to make noobs and risk managers sell to “buy back lower”. They are stealing your bags and will make you buy back at a higher price.
— Hsaka (@HsakaTrades) March 5, 2024
According to some traders, the lull in the BTC market, seen with the stalling Bitcoin price, is an opportunity for altcoins to start moving. @NCashOfficial says, “Euphoria really starts to flow once ATHs on Bitcoin are broken.”
The fun is just beginning.
Euphoria really starts to flow once ATHs on #Bitcoin are broken. Once this happens every single mainstream media source will be pushing the narrative.
Right now the number one thing that has been everywhere is the Bitcoin ETFs. MAX PAIN for the retail… pic.twitter.com/08TkOCydyM
— Nick | Crypto Crusader (@NCashOfficial) March 8, 2024
However, @TheBitcoinTherapist believes the Bitcoin price “is at a breaking point, “adding that we are likely to see a break above $69,000, beyond which the BTC price could just keep pumping.
Feels like #Bitcoin is at a breaking point. Like any moment we will completely break well above $69,000 and just keep pumping.
I’m sitting tight, fully allocated as maximally as I can be and waiting patiently. I’ve got nothing left to give.
I gave it everything. And here we go. pic.twitter.com/puxkqa2VDH
— The ₿itcoin Therapist (@TheBTCTherapist) March 8, 2024
However, the Bitcoin price remains within the November 2021 supply zone, extending from $59,864 to $67,760. An extension north is due soon, seeing as the Bitcoin price has confirmed the continuation of the trend. This is seen with the three-day candlestick close above the mean threshold of the supply zone at $63,948.
If buyers increased their buying momentum, the Bitcoin price could break above the $69,000 threshold, before potentially extending higher to flip the $69,324 blockade into a support. Such a move, which would render the supply zone a bullish breaker, could also see the BTC price trampoline to the $70,000 psychological level.
TradingView: BTC/USDT 3-day chart
Converse Case
On the flip side, if the supply zone holds as a resistance level, the Bitcoin price could pull back, retracing the $60,784 support. A break and close below this level could see the Bitcoin price extend a leg south towards the $60,000. This would be an ideal buy opportunity for the late buyers and investors that were sidelined in the previous rally.
Meanwhile, as the Bitcoin price takes a breather, investors might want to consider diversifying some of their investments into a new ICO. GBTC is one such investment with greater upside potential, with Crypto YouTuber Jacob Bury anticipating 10X growth at launch.
Promising Alternative To Bitcoin
GBTC is the ticker for the Green Bitcoin ecosystem, a cryptocurrency project that combines the legacy of Bitcoin with the eco-friendly attributes of Ethereum. It introduces a unique, sustainable staking model called Gamified Green Staking, which allows users to earn passive income through staking rewards.
Green Bitcoin goes GLOBAL, with our campaign drawing thousands of supporters from every corner of our world.
We thank you. pic.twitter.com/dRUyegB7PQ
— GreenBitcoin (@GreenBTCtoken) March 7, 2024
The project’s gamified staking system allows users to participate in daily and weekly BTC price prediction challenges, with the potential to earn attractive rewards.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven’t yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
The project continues to gain significant attention, with its ongoing $GBTC token presale surging past $2.353 million already. The presale offers a unique opportunity for early investors to get involved in the project at a low entry price of $0.6882 per token. You can secure your tokens at this price now before a price hike in about four days.
$2M raised!
We couldn’t be more thrilled to have you all along with us on this Green Revolution.
We’re building something huge! pic.twitter.com/RDOvEyCyGW
— GreenBitcoin (@GreenBTCtoken) March 6, 2024
You can also stake $GBTC tokens to earn an impressive annual percentage yield of 167%. So far, more than 3.462 million $GBTC tokens have been staked.
To further incentivize its community, Green Bitcoin also has a predict-to-earn feature, where users participate in daily BTC price prediction challenges. $GBTC tokens act as the stake as well as the reward, with rewards distributed every 10 minutes.
As #Bitcoin approaches all-time highs, everyone on your feed is making predictions.
But Green Bitcoin is the only place where you can STAKE and EARN on those predictions! pic.twitter.com/yGgux4u9b9
— GreenBitcoin (@GreenBTCtoken) February 16, 2024
This unique approach encourages community participation and helps to maintain the stability and growth of the $GBTC network.
Crypto analyst and YouTuber, Jacob Bury, believes $GBTC is set to soar before the Bitcoin halving event in April.
Visit Green Bitcoin to buy GBTC here.
Also Read:
Green Bitcoin – Gamified Green Staking
- Contract Audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict To Earn – Featured In Cointelegraph
- Staking Rewards & Token Bonuses
- $1+ Million Raised
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