Bitcoin has made history last week by reaching a record-breaking high of over $70,000. This is a remarkable achievement considering that the coin’s value was less than $1 just fifteen years ago. Its market cap has also risen to an impressive $1.36 trillion. Other cryptocurrencies, such as Ethereum Classic (ETC), have also been performing well recently.
When it comes to Bitcoin price predictions, it has consistently outperformed other financial assets in the past few years. The recent surge in ETF flows can be attributed to the growing demand from institutional investors. This influx of institutional investors comes at a time when the supply growth is expected to decrease due to the halving event, which will result in a greater mining difficulty and reduce the daily production of coins to 450.
On the daily chart, Bitcoin’s price has remained consistently above its moving averages, indicating a bullish trend. It is also hovering just below the psychological level of $70,000. Oscillators like the Relative Strength Index (RSI) and Stochastic Oscillator have also increased, suggesting a continuation of the upward momentum. With this in mind, it is likely that Bitcoin will reach $75,000 or even $80,000 this week.
BitBot is a relatively new cryptocurrency that has recently emerged in the industry. During its pre-sale, the developers raised over $932k in investments from those looking for the next big thing in the crypto world. BitBot aims to revolutionize the trading industry by offering accurate, non-custodial robots. The bots are developed by a team of experienced developers who have been in the industry for many years. BitBot also has other features in addition to its non-custodial nature that make it an attractive platform for traders.
According to the whitepaper, BitBot will use a revenue-sharing system that rewards $BITBOT holders. These holders will also have governance rights and exclusive access to the platform. BitBot tokens can be purchased through a link provided in the article. However, like all tokens, there are inherent risks, and buyers should only invest money they can afford to lose and employ proper risk management strategies.
Ethereum Classic has also been experiencing a modest rise in price, jumping from last year’s low of $12.40 to almost $40. This cryptocurrency rally is part of its overall recovery and also comes ahead of the upcoming ETC halving in May. The price has consistently remained above its moving averages, and its key resistance is at $32.47. Above the token, there is also a bullish signal from the new Ichimoku Cloud indicator. With this in mind, it is likely that ETC will reach its highest level in 2023 at $45.67, which is a 27% increase from its current price.
To share this article, use the provided link. Remember to only invest what you can afford to lose and employ proper risk management strategies.
