💰 Hippie Sold House for Bitcoin—Turned $100k into $30 Million

Back in 2017, Didi Taihuttu made the ultimate gamble. He sold his $100,000 family home and nearly all his belongings to go all-in on Bitcoin. At the time, Bitcoin was trading at just $3,700. His move shocked everyone, with critics calling it reckless and irresponsible. But now? He’s the one laughing.

From $100K to $30 Million: Taihuttu’s all-in investment has skyrocketed with Bitcoin’s rise past $100,000. That initial $100K turned into over $30 million in just a few years.
His timing couldn’t have been better. Bitcoin’s bull runs since 2017 turned this minimalist lifestyle experiment into a multi-million-dollar jackpot.

What’s He Doing Now?
Taihuttu and his family are living nomadically, traveling the world and spreading the gospel of Bitcoin.
He’s reinvesting in crypto and living off the gains, proving that bold bets can sometimes pay off in unimaginable ways.

Could You Do the Same?
You probably won't be able to replicate his success investing in Bitcoin this late but you can always keep your eyes open for a new, incredible opportunity. Taihuttu’s story is one of insane risk and reward. From selling a house to becoming a multi-millionaire, his journey highlights both the potential and the perils of betting big BUT, remember that he could've ended up homeless under a coconut tree. You never know, and that's the beauty and curse about life.

Would you sell everything for crypto? Or is this gamble just too wild?

Let us know your thoughts below and follow @Professor Mende - Bonuz Ecosystem Founder for more!

#Bitcoin #BTC #XRP #Bullrun #Bitcoinprice $BTC $XRP $ETH

🔥🔥🔥 Bitcoin Climbs Above $101K: Will #Bulls Push Higher?

#Bitcoinprice Rises Above $101,000, Eyes Higher Resistance Levels

- Bitcoin has regained bullish momentum and is now trading at $101,025, continuing its upward trajectory. The cryptocurrency is positioned above the critical $100,000 level, with key resistance levels in sight for further gains.

Recent Price Action

- Bitcoin formed a strong base above the $95,500 zone before initiating a fresh surge. The price broke through resistance levels at $97,500 and $98,800, supported by a breakout above a bearish trend line at $97,500 on the BTC/USD hourly chart (data feed via Kraken).

- The rally pushed Bitcoin above $100,000, reaching a high of $101,900. It is currently consolidating near $101,025, trading above the 100-hourly Simple Moving Average and maintaining its bullish outlook.

Upside Targets

- Bitcoin faces immediate resistance at $102,000. A clear move above this level could accelerate gains, with the next major hurdle near $104,000. If BTC surpasses $104,000, the price could climb toward $105,000, with a further push potentially targeting $108,000 in the near term.

Risk of a Pullback

- If Bitcoin fails to break above the $102,000 resistance, it could see a downside correction. The first support level is near $100,000, with stronger support at $98,200, which aligns with the 50% Fibonacci retracement level of the recent rally from $94,314 to $101,900.

- Further declines could bring Bitcoin toward the $97,250 zone. A move below this level may lead to a retest of the $95,000 support.

Technical Indicators

- Hourly MACD: Gaining strength in the bullish zone.

- Hourly RSI: Positioned above 50, indicating positive momentum.

- Key Support Levels: $100,000, $98,200, $97,250.

- Key Resistance Levels: $102,000, $104,000, $105,000.

With Bitcoin now trading at $101,025, a successful breakout above $102,000 could reinforce its bullish momentum, potentially paving the way for further upside in the coming sessions.

#BitcoinBullRally2024 #CryptoMarkets #BitcoinPrice2024

🔥🔥🔥 #Bitcoinprice Eyes Upside Break, Can Bulls Send BTC To $75K?

Bitcoin is holding onto its gains above the $69,200 mark, with the potential for further #bullish momentum if it manages to surpass key resistance levels at $70,800 and $71,250.

Currently, Bitcoin is striving to climb above the $70,000 threshold, maintaining its position above this level and the 100-hourly Simple Moving Average. However, it faces resistance in the form of a bearish trend line, with a hurdle emerging at $70,800, as indicated by data feed from Kraken.

Bitcoin's recent attempt to push beyond $70,500 encountered obstacles around $71,200 and $71,400, resulting in a minor pullback. Despite this, the bulls remain active, preventing the price from dipping significantly below $69,200, which aligns closely with the 50% Fibonacci retracement level of the recent upswing from the $67,500 low to the $71,250 high.

As of now, Bitcoin is trading above $70,000 and the 100-hourly SMA, with immediate resistance anticipated around $70,800. Additionally, a bearish trend line is forming, adding to the resistance level.

In the event of a successful breach above $71,250, Bitcoin could see further upward movement, with the next resistance points at $71,400 and $72,600. Beyond these levels, the #cryptocurrency may target the $73,500 and $75,000 zones in the short term.

Conversely, if Bitcoin fails to overcome the $71,250 resistance, it may experience another decline. Initial support is expected around $70,400, followed by the 100-hourly SMA. Further support levels lie at $69,350 and $68,500, with a potential drop to the $67,500 zone if selling pressure persists.

Analyzing the technical indicators, the hourly MACD is showing bullish momentum, while the hourly RSI for BTC/USD is currently above the 50 level.

Key support levels to watch include $70,400 and $69,350, with major resistance levels at $70,800, $71,250, and $72,600.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC

🚀🚀🚀 #Bitcoinprice Resumes Upside, Why $BTC Could Soon Hit New #ATH

Bitcoin's price is on an upward trajectory, surpassing the $71,200 resistance level and indicating positive momentum that could lead to further gains above $72,500.

The recent surge in Bitcoin's price saw it breaking through resistance levels at $69,500 and $70,000, marking a shift into a #bullish territory. Currently, it is trading comfortably above $70,000 and the 100-hourly Simple Moving Average (SMA).

Additionally, a significant bullish trend line is taking shape with support around $70,750 on the BTC/USD hourly chart, sourced from Kraken exchange data.

Despite a slight correction from the recent high near $72,609, Bitcoin remains well-positioned above $70,000 and the crucial trend line. This correction retraced below the 23.6% Fibonacci retracement level of the upward movement from the swing low at $68,954 to the high at $72,609.

Key resistance levels for Bitcoin are at $72,000, $72,500, and $72,800. A breakout above $72,800 could lead to further gains towards $73,500, $74,000, and potentially $75,000 in the short term.

On the downside, if Bitcoin fails to breach the $72,000 resistance zone, it might experience a downward movement.

Initial support is anticipated around $70,750, coinciding with the trend line. Subsequent support levels are situated at $70,350 and $70,000. A breach below $70,000 could trigger a decline towards the $68,500 support area, with further downside potentially targeting the $67,500 zone.

Technical indicators suggest a moderate loss of momentum in the bullish zone, as observed in the hourly MACD, while the Relative Strength Index (RSI) for BTC/USD hovers around the 50 level.

In summary, Bitcoin's price outlook remains bullish, with the potential for further upside above key resistance levels, provided support levels hold firm amid any corrective moves.

Source - newsbtc.com

#cryptocurrency #BinanceSquareBTC

👉👉👉 #gbtc ETF Sees Another $515M in Outflows as #Bitcoinprice Remains Below $40k

On January 23, GBTC reported additional outflows totaling $515 million, bringing the total outflows to $3.4 billion since its conversion to a spot ETF earlier this month. In contrast, nine recently approved spot Bitcoin ETFs recorded total inflows of $249 million.

Despite the US SEC's approval of spot ETFs, Bitcoin erased all its gains and traded below $40,000, witnessing a market cap reduction of nearly $200 billion this week. At the time of writing, Bitcoin is trading at $39,700. The notable surge in GBTC outflows is attributed to the actions of the now-defunct #FTX crypto exchange, which reportedly sold around two-thirds of its 22.3 million GBTC shares over a three-day trading period. FTX still holds about 8 million shares, valued at approximately $281 million, awaiting liquidation.

Bloomberg ETF analyst Eric Balchunas observed that the latest data suggests a potential slowdown in GBTC outflows. Grayscale's website indicates 600.5 million outstanding shares, representing a trust holding of 536,694.9 Bitcoin. Since January 10th, a total of 82,525 Bitcoin has exited the GBTC platform, as per CC15Capital data.

An analyst from Bitfinex noted that the #BTC🔥🔥 price, staying below the $43,000 level, has wiped out over half of the profits accumulated by short-term holders. Considering these dynamics, the analyst suggested that a significant price correction below current levels across the market would not be surprising.

Source - Cryptonews.com

#CryptoNews $BTC

🔥🔥🔥 Hard To Be “Too Scared Of #Bitcoinprice Action,” Says Analyst. Here’s Why

Bitcoin Market Analysis: Relative Unrealized Loss

Decline in Relative Unrealized Loss

- November 2022 Bear Market: Relative Unrealized Loss peaked.

- Current Status: Metric close to zero, indicating negligible market losses relative to market cap.

Factors Contributing to the Decline

- Bitcoin Price Surge: Approaching a new all-time high (#ATH ), making the entire supply profitable and reducing Unrealized Loss to zero.

Current Market Insights

- Indicator’s Value: Remains low despite bearish price action, suggesting limited excessive buying at higher prices.

- Historical Context: Bull market tops typically see spikes in Unrealized Loss due to minimal price drops causing losses for late buyers. This pattern hasn’t emerged in the current cycle.

- Analyst Commentary: Checkmate noted, “It is hard for me to be too scared of Bitcoin price action when unrealized losses look like this,” indicating cautious optimism.

Bitcoin Price Update

- Current Trading Price: $65,481, continuing a #BEARISH📉 trend.

Source - newsbtc.com

#CryptoMarkets #BinanceSquareBTC $BTC

🔥🔥🔥 #Bitcoinprice shows strength as US $BTC ETF flow percentage beats AUM in most regions

Bitcoin's price is currently trending upwards with a clear directional bias, awaiting confirmation.

A decisive close above the $45,451 level could propel BTC by 10% to reach $50,000, while a candlestick close below $43,750 would invalidate the bullish thesis.

BTC's recent breakout from consolidation within a daily supply zone has sparked optimism among traders. However, the next directional move hinges on its ability to surpass the congestion level it currently faces.

According to Eric Balchunas, an ETF specialist at Bloomberg, apart from China, Europe and Canada have also shown interest in the US ETF market. China's economy constraints have led investors to flee the local market, prompting a surge in ETF trading volume. To counter this, China's government has begun implementing measures to stabilize the stock market and deter investor exodus.

Similarly, investors in Europe and Canada are flocking to US-focused ETFs due to weak performance in non-US #ETFs. This trend reflects a fear of missing out (#FOMO ) among investors outside the US.

Following its break above $45,000, Bitcoin is now trading within a supply zone ranging from $44,235 to $46,715. Confirming the uptrend requires a candlestick close above the $45,451 level, potentially leading to a climb towards the $48,000 resistance or even the $50,000 psychological level, marking a 10% increase from current levels.

Technical indicators such as the Relative Strength Index (RSI), which is trending upwards above 50, along with bullish signals from the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD), support the bullish thesis.

Profit booking may lead to a retracement, testing the 50-day SMA support at $43,015. Further downside could target $43,750, then $41,880. Deeper corrections may test the demand zone at $38,496 - $39,895, possibly dipping to $37,800. A breach below $30,000 would invalidate the bullish outlook.

Source - fxstreet.com

#CryptoNews #BinanceSquareBTC

👉👉👉 #Bitcoinprice Rejects 48K After The #SEC Drama But Uptrend Still Intact

Bitcoin experienced a surge towards $48,000 following a tweet from a compromised SEC account about ETF approval. Despite retracing gains, the uptrend support remains near $45,200.
BTC spiked towards $47,800 & $48,000 resistance levels.
It currently trades above $45,500 & the 100 hourly Simple Moving Average.

A significant contracting triangle is forming, with resistance near $46,800 on the BTC/USD hourly chart (data from Kraken).
The potential for further upward movement towards $48,000 exists unless there is a close below $45,000.

Bitcoin Price Rebounds

Bitcoin initiated an upward move above the $45,500 resistance after a tweet from the hacked SEC account hinted at ETF approval. Gaining momentum above $46,000 & $46,500, the price faced rejection near $48,000 following clarification.

The subsequent decline dipped to $44,828 before a recovery. BTC is now back above the 23.6% Fib retracement level of the recent drop from $47,988 to $44,828.

Trading above $45,500 & the 100 hourly Simple Moving Average, a significant contracting triangle is forming, with resistance near $46,800 on the hourly BTC/USD chart. Immediate resistance lies near $46,400, close to the 50% Fib retracement level of the recent decline.

For further upward movement, a clear break above the $46,800 resistance could propel the price towards $47,200 & the next resistance near $48,000. A decisive close above $48,000 might lead to further gains, targeting the major resistance at $49,250.

Potential Losses in BTC

BTC faces potential losses if it fails to break the $46,800 resistance. Initial support is at $45,550, followed by significant support at $45,200. A breach below $45,200 may signal #bearish momentum, targeting the $44,800 support.

Technical Indicators:

- Hourly #MACD : Losing momentum in the bearish zone.

- Hourly #RSI (Relative Strength Index): Below the 50 level.

- Major Support Levels: $45,500, followed by $45,200.

- Major Resistance Levels: $46,400, $46,800, and $47,200.

Source - ewsbtc.com

$BTC

👉👉👉 #Bitcoinprice Faces Uphill Task But Indicators Signal More Upsides

Bitcoin's price is currently consolidating its gains above the crucial $69,000 support level, with its upward momentum facing a significant obstacle near the $71,500 resistance zone.

Despite encountering resistance near $71,500, Bitcoin is exhibiting positive signs and remains above the $69,000 mark, supported by the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair, a major bullish trend line is taking shape, providing support at approximately $69,120.

Following multiple attempts to breach the $71,500 resistance, Bitcoin experienced a downside correction, dipping to the $68,400 support level. However, a rebound ensued, with the price climbing above the 23.6% Fib retracement level of the recent downward move from the swing high of $71,746 to the swing low of $68,366.

Bitcoin's current trading position above $69,000 and its 100-hourly Simple Moving Average signal ongoing strength in its bullish trend. Immediate resistance lies near the $70,000 level, followed by the 50% Fib retracement level around $71,200.

The primary obstacle remains at $71,500, and a clear breakthrough above this resistance zone could pave the way for further upward momentum, potentially pushing Bitcoin towards the $72,500 resistance level in the near term.

However, if Bitcoin fails to surpass the $71,200 resistance, it may initiate another downward movement. Initial support is anticipated around $69,200 & the trend line, with the $68,400 level serving as crucial support. Further support levels include $67,500 and, in the event of a significant decline, the $66,000 support zone.

Bitcoin's price shows a slight loss in bearish momentum per the hourly MACD, while the hourly RSI remains above 50. It's currently testing crucial support and resistance levels, with a breakthrough above $71,500 indicating potential #bullish momentum, while failure could prompt further downside pressure toward lower support levels.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency $BTC

🎯The global distribution of bitcoin mining has been estimated, revealing the following concentration:

🇺🇸 USA - 40%
🇨🇳 China - 15%
🇷🇺 Russia - 12%

✨Hashrate production by regions:

⚫North America - 45.6%
⚫Asia - 41.1%
⚫Africa - 2.2%

#bitcoin #BitcoinPriceUpdate #Bitcoinprice

👉👉👉 Will Bitcoin (BTC) Price Fall Below $60k This Week?

The Bitcoin ($BTC ) price outlook appears cautious as larger holders, commonly known as #Whales , holding between 100 to 1,000 BTC have stabilized their holdings since March 25, indicating a pause in accumulation. Additionally, the Relative Strength Index (RSI) has dipped from 76 to 69, suggesting a short-term cooling in momentum.

Furthermore, the Exponential Moving Average (EMA) lines are approaching a death cross, a pattern often interpreted as a bearish signal for BTC. This occurrence, where the short-term moving average falls below the long-term average, may indicate a shift towards a downtrend.

The stability in the number of wallets holding significant amounts of BTC suggests a lack of further accumulation by whales. This behavior could signify a diminishing interest or a cautious stance from these influential players, potentially impacting market sentiment and prompting other investors to follow suit.

The RSI, a momentum indicator, currently stands at 69, indicating a balance between buying and selling pressures. While not in the overbought territory, the RSI's decline from higher levels suggests a cooling off in Bitcoin's fervor, coinciding with a stabilization in its price range.

The nearing death cross of the EMA lines, which prioritize recent price action, underscores the potential for a shift from bullish to bearish market conditions. If this trend continues, BTC's price could potentially decline to $59,200, especially if the $62,300 support level fails to hold.

However, there remains a possibility of a reversal if buyers regain control and drive the market into an uptrend. Breaking through the $71,700 resistance level could signal renewed bullish sentiment, challenging the current bearish outlook for Bitcoin.

Source - beincrypto.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency #Bitcoinprice

#Bitcoinprice Takes Hit, Can Bulls Protect The Main Support at $40K?

Bitcoin faced selling pressure below the $41,450 support zone and is displaying bearish signals, potentially struggling to hold above the $40,000 support level.

Despite attempting a recovery above the $43,250 resistance, Bitcoin couldn't sustain upward momentum and initiated another decline, breaching the $42,120 support. The bears successfully pushed the price below $41,450, establishing a new weekly low near $40,625. Currently consolidating losses, Bitcoin is trading near the 23.6% Fib retracement level of the recent downtrend from the $43,569 swing high to the $40,625 low.

As Bitcoin trades below $42,000 and the 100 hourly Simple Moving Average, a key bearish trend line is forming with resistance around $42,100 on the hourly chart. Resistance at $41,675 is the immediate hurdle, followed by the $42,100 zone and the trend line. This area aligns closely with the 50% Fib retracement level of the recent decline.

A successful break above $42,100 resistance might propel the price towards the $43,250 resistance, and further gains could target the $43,500 level. Beyond that, the next significant resistance stands at $44,450.

Conversely, if Bitcoin struggles to surpass the $42,100 resistance, it could face additional downsides. Initial support lies near $40,750, followed by the crucial $40,500 level. A close below $40,500 might intensify bearish momentum, leading Bitcoin towards the $40,000 support in the short term.

Technical indicators depict increased bearish momentum, with the #MACD gaining pace in the bearish zone and the hourly #RSI dropping below the 50 level.

In summary, Bitcoin is encountering challenges in its attempt to rally, and failure to break above key resistances could result in further losses. On the downside, the $40,500 support remains crucial, and a breach may lead to increased selling pressure, testing the $40,000 support level.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC $BTC

If anyone can maintain the composure a Temporary LONG Trade Can be placed in $BTC at its current price level.
However it will like going against the Trend though Profit can be booked.
#BTC☀️ #Bitcoin❗ #btc73k #BitcoinPrice2024 #Bitcoinprice

Decoding Bitcoin inflows: A Closer Look at Exchange Dynamics and Investor Trends in 2023.

"Spot volumes are currently at historic lows, while derivative volumes have reached record highs relative to spot trading."

#Bitcoinprice

NFT trading volume in October reached $405 million, marking a 32% increase compared to the previous month's volume of $306 million, according to a report by DappRadar. This shift indicates a reversal in the trend of decreasing NFT transaction volumes that had been ongoing for the past year. The increase in NFT trading volume was attributed to the rise in the price of Bitcoin, which surpassed the $35,000 level. 📈💹🌐 #NFTs #CryptoMarkets #NFTTrading #Bitcoinprice

#Bitcoinprice Could Struggle And Continue Lower – Here’s Why

Bitcoin is approaching a significant barrier around the $68,750 mark, posing a considerable challenge for further upward movement. A breakthrough beyond this level could potentially propel Bitcoin towards the $70,000 resistance zone in the near future.

However, there's a possibility of downside movement for BTC if it fails to breach the resistance zone at $66,600. In such a scenario, immediate support is expected around the $65,200 level.

Further declines could target the first major support at approximately $64,600, followed by $64,000. A conclusive drop below $64,000 may trigger a deeper retracement towards the $62,500 level, with the potential for further downward movement towards the $60,500 support zone.

Analyzing technical indicators, the MACD indicator indicates an increase in bearish momentum on the hourly chart.

Additionally, the hourly RSI (Relative Strength Index) has dipped below the 50 level, suggesting a shift towards bearish sentiment.

Key Support Levels to watch include $65,200 and $64,500, while Key Resistance Levels stand at $66,600, $67,000, and $67,950.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC $BTC #cryptocurrency

🔥🔥🔥 #Bitcoinprice Consolidates Above $70K As Bulls Prepare For More Gains

Bitcoin's price is consolidating its gains above the crucial $70,000 resistance zone, indicating the potential for further #bullish momentum if it manages to surpass the $71,500 resistance level in the near future.

After moving into a positive zone above $66,500, Bitcoin continued its upward trajectory, breaching key resistance levels at $69,500 and $70,000. The price eventually tested the $71,500 resistance zone, establishing a new weekly high near $71,557 before entering a phase of consolidation.

Although there was a minor pullback below the 23.6% Fibonacci retracement level of the recent upward swing from the $66,811 swing low to the $71,557 high, Bitcoin remained well-supported above the $69,000 level.

Presently, Bitcoin is trading comfortably above $70,000 and the 100 hourly Simple Moving Average, further reinforcing its positive sentiment. Additionally, a significant bullish trend line is taking shape, with support around $68,500 on the hourly chart of the BTC/USD pair. This trend line coincides closely with the 61.8% Fibonacci retracement level of the aforementioned upward move.

In terms of resistance, the immediate hurdle lies near the $70,800 level, followed by the crucial $71,500 resistance zone. A clear breakthrough above this zone could pave the way for further upside potential, with potential targets including $72,500 and $73,500.

If Bitcoin struggles to surpass the $71,500 resistance, a downside correction is possible. Initial support levels are at $70,000, $69,000, and $68,500, with a breach below triggering further declines towards $67,000 and $66,000.

Analyzing the technical indicators, the hourly MACD for BTC/USD is showing signs of losing momentum in the bullish zone, while the hourly RSI is currently above the 50 level, indicating a positive sentiment among traders.

- Key Support Levels: $68,500, $67,000

- Key Resistance Levels: $70,500, $71,500, $73,500

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency $BTC

🔥🔥🔥 #Bitcoinprice Returns to $69,000 Ahead of 4/20 #halving

Bitcoin is showing signs of a resurgence after a brief lull at the beginning of April, reclaiming its position above $69,000 on Thursday as the highly anticipated halving event approaches in a couple of weeks.

Over the past 24 hours, Bitcoin's price has surged by 5%, reaching $69,139. This marks a reversal from a three-day downtrend that saw the leading cryptocurrency dip below the $70,000 threshold and nearly touch $65,000 on Tuesday before rebounding on Thursday.

The Bitcoin halving, a quadrennial network event, reduces the amount of BTC rewarded to miners for successfully mining a new block. This mechanism aims to slow the growth of the circulating supply and mitigate inflation, typically resulting in an uptick in the asset's price.

In anticipation of the upcoming halving, expected around April 20, Bitcoin's price spiked in March, reaching a new all-time high of $73,737. Throughout the month, Bitcoin experienced several upward surges, surpassing its previous record set in November 2021 around the $69,000 level.

The exact date of the halving has fluctuated in recent weeks, as it is tied to a specific network block, influenced by Bitcoin's activity and demand. Presently, April 20, or 4/20, is the anticipated date, aligning with a significant meme number, which resonates with the current price—a phenomenon often observed in the #cryptocurrency space.

Bitcoin's rally has sparked a market-wide uptrend, with Ethereum up 4% to $3,415, Dogecoin climbing 6% to $0.186, and Binance Coin leading with an 8% increase to $597.

Two notable gainers among the top 100 coins are ORDI, up nearly 15% to over $64, and Bitcoin Cash, rising around 12% to $644 after its recent halving event.

Source - decrypt.co

#CryptoNews🔒📰🚫 #BinanceSquareBTC

💥💥💥 #MikeNovogratz Projects $100,000 #Bitcoinprice , Tips Regulatory Clarity

Galaxy Digital CEO Mike Novogratz predicts a $100,000 price for Bitcoin by year-end, as the #cryptocurrency surpasses $70,000, fueled by bullish sentiment after the approval of spot Bitcoin ETFs. Analysts and executives agree that clear crypto regulations in the United States are crucial for market growth.

Novogratz's $100,000 BTC Projection

- During a recent Bloomberg interview, Novogratz stated that if Bitcoin reaches $73,000 in the next week, it could surge to $100,000 by the year's end. He emphasized the concept of market ranges, suggesting that Bitcoin's current price of $70,000 falls within the potential $100,000 range.

- The approval of spot Bitcoin ETFs this year has significantly impacted Bitcoin's price, with approximately $60 billion flowing into these funds as institutional investors increase their exposure to the cryptocurrency. Bullish momentum grows as institutions continue to accumulate.

- Moreover, recent developments indicate growing adoption and a positive macroeconomic outlook for Bitcoin. Novogratz notes that what was once a hindrance is now becoming a catalyst, with institutional firms increasingly investing in Bitcoin through ETFs, signaling ongoing accumulation.

Regulatory Clarity to Drive Market Growth

- In recent weeks, discussions on crypto regulations have dominated industry discourse as executives advocate for clear rules to encourage investment. Novogratz and other crypto leaders praise the bipartisan support for the FIT21 bill, aimed at providing regulatory clarity. The bill, which passed the House, awaits deliberation in the US Senate.

- However, the Senate's rejection of the SAB 121, vetoed by President Joe Biden, has stirred criticism within the crypto community, particularly among those anticipating the Financial Innovation bill. Despite obstacles, Novogratz remains optimistic, noting that the market is gradually gaining regulatory clarity.

Source - coingape.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC

👉👉👉 #Bitcoinprice Accumulation – Risk of Pullback Escalates Below $52K

Bitcoin is currently facing resistance as it attempts to breach the $52,000 mark, raising concerns about a potential downturn below the critical support level of $50,500.

BTC is struggling to surpass the $52,000 resistance zone, with its price trading below both $51,800 and the 100-hourly Simple Moving Average.

A bearish flag pattern has emerged on the hourly chart of the BTC/USD pair, with support forming around $51,120.
There's a risk of a significant pullback if the price breaks below the crucial support level of $50,500.

- Bitcoin Price Struggles Near $52,000

Despite a short-lived uptick above $51,500, Bitcoin's price trajectory remained negative as it failed to conquer the $52,200 resistance area. The #cryptocurrency remained below $51,800 and trended lower, slipping below $51,200 before staging a minor recovery.

Bears regained control near the $52,000 resistance zone, pushing Bitcoin below $51,800 and the 100-hourly Simple Moving Average. A bearish flag pattern on the hourly chart suggests possible further downside.

Immediate resistance lies at $51,800, followed by hurdles at $52,000 and $52,500. A breakthrough above $52,000 could propel the price towards the $52,500 resistance, closely aligned with the 76.4% Fibonacci retracement level.

The primary resistance zone is near $53,000, followed by potential resistance levels near $53,500 and $54,200.

- Potential Downside in $BTC ?

If Bitcoin fails to surpass the $51,800 resistance, a downtrend may resume. Initial support near $51,100 and the channel trend line. Below $50,550, a deeper pullback towards $49,500 and potentially $49,200 could follow.

- Technical Indicators:

Hourly MACD – The #MACD is displaying bearish momentum.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level, indicating bearish sentiment.

- Key Support Levels – $51,100, followed by $50,550.

- Key Resistance Levels – $51,800, $52,000, and $52,500.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC