Bitcoin Price Prediction as Crypto Exchange Director Says BTC Could Hit ‘$140,000’ – Time to Buy?

Forex
March 8, 2024
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Bitcoin Price Prediction

Bitcoin’s price prediction takes center stage as Bitget’s Managing Director, Gracy Chen, forecasts a potential climb to $120,000 – $140,000. This bold prediction hinges on recent ETF net inflows, suggesting an imminent rally.

With Bitcoin currently trading near $67,000 and showing signs of resilience after a sharp pullback, the stage is set for what could be an unparalleled bull market cycle.

Chen’s insight offers a compelling case for investors pondering the timeless question: Is now the time to buy?

Crypto Exchange Director Foresees BTC’s Bullish Future

In a comment shared with Cryptonews, Gracy Chen, the Managing Director of Bitget, projected a bright future for Bitcoin, suggesting a potential surge to “$120,000 to $140,000 in this bull market cycle.” Chen’s optimism is tied to the strong net inflows the Bitcoin ETF has been witnessing, which she believes could propel Bitcoin to new all-time highs.

“This has proven the resilience of decentralized assets and the value of decentralized ecosystems,” she added.

Despite a recent pullback where Bitcoin dipped to $59,000, shedding about 16.9% of its value, the cryptocurrency has demonstrated a robust recovery, climbing back to $66,000.

According to Chen, such rapid pullbacks are not uncommon in the midst of sharp uptrends and typically signify a phase of market deleveraging.

The swift rebound in Bitcoin’s price is a testament to the enduring optimism and confidence investors have in Bitcoin, signaling a bullish outlook for the cryptocurrency’s future.

Bitcoin Price Prediction

Today, Bitcoin (BTC/USD) showcases a robust performance, with its price reaching $67,216, marking a over 1.75% increase within the last 24 hours.

This places Bitcoin at the pinnacle of the cryptocurrency market, with a staggering market capitalization of $1,320,668,386,493 and a circulating supply nearing its maximum at 19,647,850 BTC.

The technical analysis reveals pivotal dynamics, with a current pivot point at $64,858 suggesting potential volatility.

The chart, analyzed on a four-hour timeframe, outlines immediate resistance levels at $69,045, followed by $71,992 and $75,598, indicating the thresholds for upward momentum.

Bitcoin Price Prediction

Conversely, support levels are established at $62,872, with further floors at $59,380 and $56,231, which could cushion any downward trends.

The technical landscape is further enriched by the 50-Day Exponential Moving Average (EMA) at $63,160 and the Relative Strength Index (RSI), both endorsing a bullish sentiment.

However, a break below the $66,000 mark could pivot the trend towards a bearish bias.

In conclusion, Bitcoin’s current trajectory remains bullish above the $66,000 threshold, supported by critical technical indicators

Green Bitcoin: Pioneering Sustainability in Cryptocurrency Through Gamified Staking

Green Bitcoin emerges as a pioneering force in the crypto world, marrying environmental sustainability with the dynamic world of digital finance. By introducing Gamified Green Staking, this initiative not only offers enticing rewards but also promotes environmental stewardship with each transaction, supported by a unique dual token incentive system.

Token Allocation Breakdown:

Presale (40%): Sets the stage for an impactful market debut, laying the foundation for future growth.Staking Rewards (27.50%): Dedicates a substantial portion to reward the long-term commitment of its stakeholders, ensuring the vitality of the $GBTC ecosystem.Marketing (17.50%): Funds targeted marketing efforts critical for establishing and expanding the currency’s global influence.Liquidity (10%): Ensures seamless transactions and trading, reinforcing $GBTC’s presence on various exchanges.Community Rewards (5%): Celebrates and incentivizes the contributions of the core community, fostering engagement and loyalty.

The ‘Green Map‘ outlines a clear trajectory for Green Bitcoin, starting with a value-driven presale and advancing through strategic initiatives that energize the community and solidify the token’s market position.

Countdown to Next Price Jump: Just 4 DaysRaised so far: $2,321,140 out of $2,247,631Exchange Rate: 1 $GBTC = $0.6882

Take the leap into Green Bitcoin’s realm where your investment does more than yield returns—it supports a sustainable financial ecosystem. Stake your claim today and be part of an eco-responsible future.