Bitcoin Price Prediction: As BlackRock CEO Larry Fink Says He’s ”Very Bullish” On BTC, Traders Turn To This 2.0 Crypto For Parabolic Gains

The Bitcoin price printed a minor gain in the last 24 hours to trade at $70,453.71 as of 8:55 a.m. EST as investors begin to stock up on the largest crypto.

That came as BlackRock CEO Larry Fink said he “is very bullish on the long-term viability of Bitcoin.”  The asset management giant’s Bitcoin ETF (exchange-traded fund) has amassed $13.5 billion in inflows in just the first 11 weeks of trading.  BINANCE:BTCUSDT Chart Image by StevenWalgenbach

The Bitcoin Price Bounces Off Of Support

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price rebounded off of the $68,863.99 support level in the last 24 hours and attempted to break above the major resistance level at $71,641.54. Bears were able to defend the mark in the past 24 hours and are still exerting sell pressure on the leading crypto’s price. This is evident by the wicks present above the last two candles on the 4-hour chart. Nevertheless, buyers could still push BTC above $71,641.54 in the coming 24 hours due to the support of a positive trend line that has emerged on the crypto’s charts.

Should bulls succeed in lifting the Bitcoin price above this threshold, the market leader might have the support needed to keep rising in the upcoming 48 hours. BTC may then attempt to establish a new all-time high above $73,777.
BTC failing to close a 4-hour candle above $71,641.54 within the next 12 hours could invalidate the bullish thesis. Traders might then enter into short positions, which will likely expose the Bitcoin price to the risk of correcting down to $68,863.99. Investors and traders will want to pay close attention to the crypto’s price if it reaches this point, since the level is confluent with the positive trend line. A break below this key mark might therefore indicate a negative shift in BTC’s trend, which could lead to the Bitcoin price dropping to $65,847.29 in the short term.

Bulls Are Doing Everything They Can To Try Push The Bitcoin Price Higher

Technical indicators on BTC’s 4-hour chart suggest that bulls are trying their utmost best to push the Bitcoin price higher. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are on the verge of triggering major bullish technical flags.

The RSI line is rising towards its Simple Moving Average (SMA) line on the 4-hour chart. These two lines crossing in the next 12 hours might be seen as a sign that buyers have gained the upper hand against sellers. BTC is also so close to entering into a confirmed bullish phase, with the MACD line attempting to rise above the MACD Signal line. Bears might, however, prevail and pull the Bitcoin price down if these technical flags are not triggered by the end of today’s trading session.

As bulls and bears battle it out on BTC’s charts, investors are turning their attention to Sponge V2 for exponential gains.

Looking To Do 100X Again

Only a handful of projects were able to overcome the crypto winter and achieve substantial gains for investors.

One such crypto was SPONGE, which skyrocketed 100x in the 2023 bear market to reach a peak market cap of $100 million. The meme coin left many investors behind, causing them to miss out on this substantial growth.

This is why the team behind SPONGE has decided to launch a new version of the viral memecoin, giving investors a second chance at remarkable gains. Repeating its prior 100X success could prove to be a difficult task, but the crypto’s team has pulled out all the stops with Sponge V2.

In addition to lining up several additional major exchange listings, the SPONGE team will also introduce some utility into the ecosystem via a P2E racer game. This game will come in both a paid and free version.

Players will need to use Sponge V2 tokens as in-game credits for the paid version, and also stand the chance to win rewards paid in the token. SPONGE has also been migrated to the highly-scalable and cost efficient Polygon network.

Investors Showing Great Confidence In SPONGE

Sponge V2 currently boasts over 13k holders, with more than $22.8 million worth of tokens staked as investors bet big on its chances to surge again. If the altcoin managed a 100x gain during a bear market, it must have the potential to go absolutely ballistic in the upcoming bull market.

In addition, investors can stake tokens for a whopping 387% APY on Polygon.

Anyone interested in purchasing Sponge V2 can do so on the project’s website using either ETH, USDT, MATIC or bank card.

Sponge V2 can be purchased here.

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