Bitcoin is displaying bullish momentum as its price bounces 5% today, currently trading at $67.4K.
Meanwhile, the new ICO cryptocurrency Green Bitcoin is also surging ahead, recently surpassing the $8.6 million mark at presale.
In recent weeks, Bitcoin’s price has been primarily driven by unprecedented trading volume from spot ETFs.
After peaking at highs of $74K in mid-March, Bitcoin underwent a selloff, which coincided with net outflows across the ETF market.
However, having found support between $62K and $63K, bulls have absorbed the ETF outflows as Bitcoin’s price pushes beyond $67K.
At the time of writing, Monday’s trading session on the U.S. stock market has yet to begin, but analyst Mister Crypto alludes that ETFs will start accumulating BTC again soon.
“The highest net inflow for spot Bitcoin ETFs was recorded at the exact peak of BTC. Now, during this dip, investors are beginning to sell. It seems like a good strategy to countertrade these ETF flows and buy the BTC dip now,” he wrote.
Adding to the excitement, analyst Captain Faibik noted today that Bitcoin has found support within an ascending wedge, anticipating an explosive move toward $85K.
When analyzing last week’s selloff, he said, “Some people were waiting for the correction when Bitcoin was Pumping in the past days, and now they’re saying that the Bitcoin bull run is over.”
He continued, “According to price action, BTC has completed the Necessary +15% correction, and now a significant bullish daily candle could change market sentiment. Remember, Bitcoin halving rally is still ahead, so don’t sell too early.”
Yet, this is not the only analyst anticipating a bullish trajectory.
Prominent market commentator Satoshi Flipper suggested that Bitcoin has broken and retested a symmetrical triangle to the upside, stoking speculation of a move toward $80K.
The move follows a descending channel breakout, bolstering the analyst’s bullish bias.
“$80,000 sooner than you think,” he wrote.
Indeed, Bitcoin’s recent recovery has ignited a wave of optimism across the market, but new ICO crypto, Green Bitcoin, is also benefiting as it surpasses $8.6 million at presale.
Enthralling crypto rewards await with the new presale Green Bitcoin. As a BTC alternative, this Ethereum-based sensation has caused a stir, garnering attention with its robust use case and compelling reward models.
In addition to raising $8.6M, prominent industry figures have gotten on board. For instance, renowned gem-hunter Jacob Bury recently suggested it could 10x after its exchange launch.
The frenzy has spilled over to top media outlets, with Cointelegraph, Techopedia, Inside Bitcoins, and Bitcoinist all backing it.
Green Bitcoin’s unwavering hype comes from its multi-faceted approach to tackling Bitcoin-related issues.
The most prominent is regarding energy consumption. Green Bitcoin swaps out Bitcoin’s energy-intensive Proof-of-Work model for Proof-of-Stake. This means that while one Bitcoin transaction uses 1,173,000 Wh of energy, a Green Bitcoin transaction uses just 34 Wh.
It also offers much more functionality and utility. Green Bitcoin’s flagship feature is predict-to-earn, inviting users to guess whether Bitcoin’s price will rise or fall the next day in exchange for $GBTC rewards.
Users must stake $GBTC tokens to access the feature, providing a demand stream that could enable long-term price action. Stakers also get a 77% APY, but this decreases as more tokens are staked.
There are just three days left to buy Green Bitcoin at presale, so market participants must act fast.
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