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Bitcoin Cash price is up 55% in the last 24 hours to trade at $503 At 7:47 a.m. EST, trading volume soared 468% to $2.5 billion.
BCH hit a new high in 2024 $524.78 Earlier today, investors are anticipating a buoyant market ahead of the Bitcoin halving event in April.
đ LENGTH: #BCHUSD.P | $BCH | 1D
Bitcoin Cash surged 40% due to anticipation of its halving event and adaptive block size limit algorithm, indicating bullish investor sentiment.
đ„Auto Trading Bot: https://t.co/iACV9Wb0Yr pic.twitter.com/nyLMjonrj4
â Crypto | #1 Free Signals (@best_analysts) March 2, 2024
Investors are also excited about the upcoming 2024 update, which is expected to introduce an adaptive block size limit algorithm for Bitcoin Cash. This algorithm will automatically adjust the block size limit to reduce infrastructure costs during periods of low usage while allowing the maximum block size to potentially double each year during periods of maximum growth.
Bitcoin Cash Price Soars in Bullish Stance
BCHUSDT Analysis by Tradingview
Bitcoin cash price has broken out of the second cycle consolidation channel as the $239 support zone amplifies the recent rise, helping bulls push the price higher.
Despite the brief pullback, the bulls continued the bullish momentum, driving the price even further up in a bullish rally, breaking the upper boundary of the channel to a high of $518.
BCH price action paints a picture of strength and resistance, with the token trading above the 50-day and 200-day simple moving averages (SMA) currently acting as immediate support for the price of Bitcoin Cash.
The moving average crossover aligning with the support zone at $239 provides additional confirmation of the overall bullish sentiment, giving strength to the bulls to maintain their bullish stance above the consolidation channel.
Following a strong rebound from the mid-level of 50, the BCH Relative Strength Index (RSI) indicates an increase, surpassing the overbought level of 70 to reach 91. This indicates intense buying pressure on the price of Bitcoin Cash .
Bitcoin Cash Price May Decline in the Short Term
BCH price bulls appear set to continue the bullish momentum, aiming for new highs. However, the resistance level of $518 may trigger a correction, which will allow the bears to push the price lower to recoup their losses and prevent them from making further profits.
Furthermore, rising RSI in the overbought region may also trigger the downtrend, helping the bears force a decline to the $325 support zone.
Investors seeking lucrative returns could consider diversifying their portfolios with the new BTC-inspired token, Green Bitcoin (GBTC), a Bitcoin alternative that is drawing interest from eco-conscious investors.
Token offerings also offer huge profits through their gamified green staking model and Predict-to-Earn features.
A promising alternative with 100 times greater potential
Green Bitcoin (GBTC) It is a green iteration of Bitcoin focused on environmental sustainability that combines the traditional attributes of Bitcoin with the green features inherent to the Ethereum network.
It just surpassed $1.5 million in funds raised as it moves toward its goal of $1.7 million.
Predict to win with green BTC
Its unique Predict-to-Earn feature allows token holders to predict daily Bitcoin price movements. Successful predictions can generate incentives based on the accuracy of the forecast and the amount wagered. This gamified approach resets daily, ensuring continuous engagement and participation.
Did you know you can win HUGE just by staking your green Bitcoin?
If you haven’t already, visit our website and check out the Staking feature. pic.twitter.com/6wiv99ER0O
âGreenBitcoin (@GreenBTCtoken) February 25, 2024
To ensure a substantial set of incentives for accurate BTC price predictions, more than 27% of the total token supply is allocated to staking rewards, spread over two years, according to the project whitepaper.
Get Green BTC Now and Earn Rewards by Staking
Green Bitcoin also employs the Gamified Green Staking model, where token holders can stake their tokens and earn rewards.
The project aims to incentivize long-term holding by allowing investors to stake their tokens and earn passive income with an impressive annual percentage yield (APY) of 224%.
Experts weigh in on GBTC!
Bitcoin Price to Reach $200,000 by 2025: Standard Chartered: Can Green Bitcoin Overtake BTC?https://t.co/w2mT4kp0fo
âGreenBitcoin (@GreenBTCtoken) February 19, 2024
Popular YouTuber and crypto analyst Alessandro De Crypto praises the concept of âPredict to Winâ and says GBTC could potentially rise 100x upon its launch.
You can buy GBTC tokens at $0.5742 before they rise in less than five days.
Visit GBTC official website to exchange your ETH or USDT for GBTC tokens in your supported digital wallet. You can also use your bank card to purchase directly.
Related Posts
Green Bitcoin: gamified green bet
- Contract audited by Coinsult
- Early Access Presale Live Now â greenbitcoin.xyz
- Predict to Win â Featured on Cointelegraph
- Staking Rewards and Token Bonuses
- $1+ Million Raised
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