Bitcoin Valuation Projection: With Michael Saylor suggesting another Bitcoin purchase and whales amassing Bitcoin, a newly launched meme coin presale exceeds $5 million.
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Bitcoin took a 1% dive in the past 24 hours, trading at $93,437.84 as of 9:37 p.m. EST on Wednesday. This plummet comes despite Michael Saylor, Strategy co-founder, hinting at another Bitcoin buy-in following his SaylorTracker chart post yesterday. Historically, these posts have been followed by Strategy purchasing Bitcoin.
Saylor (@saylor) shared, "Stay Humble. Stack Sats." 🧑💻📈
Meanwhile, whales have been stockpiling Bitcoin below the $100K mark. According to Glassnode data, the number of wallets holding at least $1 million worth of BTC has surged from 124,000 on April 7 to over 137,600 on April 26. 🐳📈
Bitcoin Stuck in a Tug of War at the Resistance Level
The Bitcoin price has been locked in a relentless tussle with the resistance level of $94,650.81. If Bitcoin can break this barrier in the upcoming days, it could clear the path for a leap to the next major milestone at $103,067.40. However, sellers have managed to defend the $94,650.81 level for the last few days. If they persistently keep the Bitcoin price below this mark for the next 48 hours, there's a risk that the optimistic scenario might not materialize. Traders might then start panicking and going short on BTC, which could trigger a downturn to the nearest support level at $84,993.15. Further sell pressure could cause Bitcoin to plummet down to as low as $75,583.11. 📉
Bears May Have the Upper Hand in the Coming 24 Hours
A bearish outlook seems probable in the next 24 hours, with both the MACD (Moving Average Convergence Divergence) and RSI (Relative Strength Index) on the daily chart showing negative signs.
Lately, the MACD line has been diving towards the MACD Signal line. The shrinking gap between the two indicators and their alignment indicates that Bitcoin's bullish cycle may be reaching its peak and is fast approaching its conclusion. If the MACD line slides under the Signal line, it could confirm that the Bitcoin price has entered a new bearish short-term trend.
Simultaneously, the RSI line has started crumbling towards its SMA (Simple Moving Average) line on the daily chart in the last couple of days. This decline may be interpreted as a weakening in buyer power. While the current RSI reading above the neutral 50 mark is a positive sign, the downward trajectory of the indicator implies that bears might take over shortly. 📉📈
Investors, nonetheless, are piling into the pre-sale for the new meme coin BTC Bull Token (BTCBULL). A popular YouTube channel, 99Bitcoins, which boasts 725K subscribers, stated that BTCBULL has the potential to surge 10X post-launch. 🚀📈
BTC Bull Token Offers Free Bitcoin to Its Holders
BTC Bull Token stands out from other meme coins due to its unique offering - free Bitcoin via airdrops! Launched on the belief that Bitcoin will reach $1 million and potentially beyond, the project will distribute free BTC to its investors when Bitcoin achieves specific milestones. ☁️💸
The next Bitcoin airdrop will take place when BTC hits $150K for the very first time. Thereafter, an airdrop will occur for every subsequent $50K increase in Bitcoin's price.
In addition to the airdrops, there will also be BTCBULL token burns that will happen with every new $25K milestone Bitcoin achieves, starting at $125K. These burns will decrease the supply of the meme coin, making it scarcer and thus more valuable. 💎🚀
Combined with the buying pressure from investors seeking cheaper Bitcoin exposure, the token burns could ignite a rally for BTCBULL. 📈🚀
BTC Bull Token Presale Raises Over $5 Million
BTC Bull Token has already exceeded the $5 million mark during its ongoing presale, signaling strong investor optimism in the project's future. 💰💪
Those interested in joining the ICO can purchase BTCBULL for $0.002485 per token through the easy-to-use buy widget on the project's website. Payment methods include both crypto and bank cards.
Upon buying some BTCBULL tokens, investors can also stake them for an 81% APY. But, they should act promptly to secure the best deal, as BTCBULL's price will undergo an increase during the presale in about 2 days.
Check out BTCBULL! 🚀💪
Sources:
- MarketWatch
- Bloomberg
- CoinGecko
- CNBC
- Forbes
- In the forecast by 2025, Glassnode data indicates a rise in the number of prominent investors hoarding an average of at least $1 million in Bitcoin, a trend which could significantly impact the finance and investing landscape in the technology sector.
- Investors are keeping a watchful eye on Michael Saylor's future Bitcoin buying signals, considering his notable history of purchasing Bitcoin after posting on SaylorTracker, a move that could potentially influence the crypto market ahead.
- Despite Bitcoin's struggle to breach the $100K mark, innovative projects like BTC Bull Token aim to provide new ways for investors to gain exposure to Bitcoin, utilizing unique features such as free airdropped Bitcoin and token burns to foster price growth.
- As the bearish trend continues in the Bitcoin market, some investors turn to alternative investment opportunities, like BTC Bull Token, which continues to attract significant attention during its ongoing presale, demonstrating investors' ongoing interest in Bitcoin in 2022.
