Coinvo Forecasts Bitcoin Surge to $134K Post FOMC Meeting; meantime, an ICO Provides Free Bitcoin, Accumulates Over $5.3M in Funding
Get the Latest: Jump on Our Telegram to keep tabs on crypto news updates
Bitcoin experienced a minor dip, dropping by a fraction of a percentage point in the past 24 hours. Its current price stands at $93,894 at 4:01 a.m. EST, with trading volume increasing 4% to $20.1 billion.
Coinvo, a Bitcoin investor and trader, hints on Twitter that if history repeats itself, tomorrow's Federal Reserve FOMC meeting could propel BTC to a staggering $134K.
Looking ahead to Wednesday's FOMC, here's what could go down for our beloved BTC:
BTC Price: A Bullish Run continues?
The BTC price chart reveals a robust bullish trend within an ascending channel, consistent since late 2023. After hitting a high above $106,000, Bitcoin's price action fought back and established support close to $80,000, forming a rounded bottom pattern, indicating accumulation and the possibility of further growth.
Recently, the Bitcoin price has busted through key resistance-turned-support level around $92,000, implying renewed bullish energy.
As the 50 Simple Moving Average (SMA) slopes upward and currently rests just below BTC at $92,554, it serves as dynamic support. The 200 SMA lies well under the current BTC price at $65,811, confirming the long-term bullish structure.
Additionally, the Relative Strength Index (RSI) is currently at 57.22, climbing from the neutral zone without showing signs of overbought conditions, which suggests further upside momentum.
With the breakout from the accumulation range, the overall bullish channel, and supportive technical indicators, Bitcoin seems set to test and perhaps exceed previous highs.
A trajectory towards the $110,000 resistance zone seems probable if the bullish wave continues, provided macroeconomic conditions and broader crypto sentiment stay favorable.
However, a plunge below the $92,000 level warrants caution, as it could invalidate the immediate bullish setup, potentially pushing the Bitcoin price down to the $78,878 level within the rounded bottom pattern.
As crypto enthusiasts eagerly hoard, it's worth checking out the BTC Bull Token (BTCBULL), a sizzling Bitcoin-themed meme coin project dispensing free BTC.
YouTube channel 99Bitcoins, with more than 725K subscribers, predicts a whopping 10X increase in BTCBULL holders' value once the token debuts.
BTC Bull Token: Ready for Takeoff?
This year has seen a remarkable presale performance from newcomer BTC Bull Token, surpassing the $5.36 million mark in its current presale.
BTC Bull Token brings a unique concept by gifting Bitcoin airdrops to holders whenever Bitcoin achieves a notable price milestone for the first time.
As Bitcoin climbs towards the $1 million mark, BTC BULL Token owners will be showered with rewards.
Token holders storing their BTCBULL in Best Wallet will receive free BTC drops when Bitcoin touches $150k and $200k for the very first time. A massive BTCBULL drop for the most die-hard hodlers awaits when Bitcoin reaches $250,000, weighted by "Community Sale purchase amount."
🚀 BTCBULL LIVE IN UPCOMING ICOS! 💥@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that dishes out milestone-based airdrops as Bitcoin hits new price levels.
With incentives to buy, hold, and trade built into the token, BTCBULL lets holders discover a brand new strategy to accumulate BTC.... [graphic]
- Best Wallet (@BestWalletHQ) February 10, 2025
Apart from BTC airdrops, the team will also implement token burns, permanently eliminating a fraction of the total supply. Their goal is to mirror Bitcoin's principles and boost scarcity and value.
BTCBULL token owners can earn passively through staking their tokens, netting a 77% annual percentage yield (APY).
Crypto investors interested in participating in the presale can visit the official BTC Bull Token site to cop BTCBULL for $0.0025 a piece using BNB, ETH, USDT, or a bank card.
Secure yourself a great deal on BTCBULL prior to the anticipated increase within the next 3 days!
Check out the daring BTC Bull Token.
Related News:
- PENGU Soars 7%, As Investors Trigger the Run for This AI Pepe Coin Presale
- TRUMP Plummets 23% in One Week; Crypto Enthusiasts Are Flocking to This $33.4M Solana Layer-2
- Trump Confirms Crypto's Importance and Vows to Keep It Away From China
Best Wallet - Enhance Your Crypto Portfolio
Our Rating
- Fuss-Free, Feature-Rich Crypto Wallet
- Secure Early Access to Upcoming Token ICOs
- Works Across Multiple Blockchains and Wallets
- Now Available on App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Download NowJump on Our Telegram for the latest cryptocurrency news updates
- In light of Bitcoin's bullish trend and the impending Federal Reserve FOMC meeting, it would be prudent for tech-savvy investors to keep an eye on the crypto market with potential investment opportunities in both Bitcoin and related technology-driven projects.
- Amidst the growing hype around the BTC Bull Token, an innovative Bitcoin-themed meme coin project, cryptocurrency enthusiasts might want to consider exploring this unique investment option, given its approach totokenomics, airdrops, and staking features, all underpinned by the principles of Bitcoin's scarcity and value.
