Is Bitcoin’s Price Going to Rise Again? Here’s What You Need to Know
The value of Bitcoin experienced a 3% decrease in the previous day, currently valued at $59,533 with a 7% reduction in trading volume, now at $27 billion.
Reports have surfaced regarding a dormant crypto exchange known as Mt. Gox, which has transferred 13,265 BTC totaling $784 million. Alex Thorn, the head of research at Galaxy Digital, has suggested that this BTC transfer may not result in significant selling pressure.
Despite the recent decrease, there is potential for a surge in Bitcoin’s value. Data from GeckoTerminal indicates that Bitcoin has been in a consolidation phase, trading within the $61,000 resistance and the $56,665 support zone. Furthermore, it has surpassed the 50-day Simple Moving Average (SMA), and the Relative Strength Index (RSI) suggests an increasing buying pressure.
Should the buying pressure persist, Bitcoin’s value may break the upper pattern, with a target price of $64,000. Conversely, breaching the lower boundary of the pattern could lead to a further decline, with potential support around $54,635.
On a separate note, the Mega Dice presale, a new GameFi token on Solana, has successfully raised over $1.7 million and is close to reaching the $2 million milestone. This token offers a wide array of casino games, sports, and eSports betting options, alongside opportunities to earn rewards through staking and receiving daily payouts based on the casino’s profits.
Investors also have the chance to earn NFTs and a 25% referral commission through the Mega Dice presale. As of now, $DICE tokens are available for purchase at $0.110529 using BNB, ETH, or SOL, with the added incentive of earning a 10% return on referrals.
Considering the fluctuation in Bitcoin’s value and the increasing popularity of GameFi tokens like Mega Dice, it is apparent that there are several developments worth monitoring in the cryptocurrency sphere.
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