Bitcoin (BTC), the most prominent and widely recognized virtual currency, maintained its bullish momentum and surpassed $68,000 early this morning, reaching an intra-day high of $68,418. This surge has sparked renewed interest in Bitcoin price prediction, with analysts closely monitoring the factors driving this rally.
One significant catalyst was Elon Musk’s recent change of his X profile picture to the Bitcoin-related laser eyes symbol, which triggered widespread speculation about his potential renewed interest in Bitcoin.
Elon Musk updates his profile pic to laser eyes. pic.twitter.com/jRu1nZTbSU
— The Spectator Index (@spectatorindex) July 21, 2024
Additionally, Joe Biden’s withdrawal from the US Presidential race has increased the likelihood of pro-crypto candidate Donald Trump winning the election, further boosting market sentiment and contributing to Bitcoin’s rise.
Elon Musk’s Profile Update and Conference Arrival Fuel Bitcoin Speculation
As per the latest report, Elon Musk recently updated his X profile picture to feature laser eyes, a popular Bitcoin symbol, sparking significant buzz in the crypto community.
This change comes as Musk arrived in Tennessee aboard his private jet, raising speculation that he might attend the 2024 Bitcoin Conference in Nashville on July 25. However, the timing of his arrival and profile update has fueled rumors about his possible appearance, especially since his previous profile change coincided with Bitcoin’s all-time high earlier this year.
Laser Eyes are back in style. #Bitcoin pic.twitter.com/FZBztnkVhf
— Michael Saylor (@saylor) July 21, 2024
These developments have led to speculation that Musk might be preparing to buy Bitcoin, suggesting a possible renewed interest in the cryptocurrency.
Besides this, former President Donald Trump, known for his pro-crypto stance, is scheduled to speak at the conference, further heightening interest. Musk’s move to adopt the laser eyes meme could be more than just a style choice, signalling renewed involvement in Bitcoin and influencing its market value.
BREAKING: Rumors are circulating that @elonmusk will attend the #BITCOIN conference in Nashville next week, as he landed in Tennessee and changed his profile picture to laser eyes.
Source: @EleanorTerrett pic.twitter.com/GpGcMKegHi
— SolanaFloor (@SolanaFloor) July 21, 2024
Therefore, Elon Musk’s profile update and arrival in Tennessee could significantly impact Bitcoin’s price. If he attends the Bitcoin Conference and demonstrates renewed interest in Bitcoin, it may drive prices higher, reflecting increased market enthusiasm.
Bluntz’s Bullish Bitcoin Prediction and Recent Market Trends Fuel Investor Confidence
Another positive factor boosting Bitcoin is the recent commentary from a prominent analyst who predicts that Bitcoin’s price could rise to $100,000 and beyond.
The analyst, Bluntz, uses the Elliott Wave theory, suggesting Bitcoin is in the fifth wave of a five-wave upward trend. He forecasts that Bitcoin may briefly correct to $60,000 before potentially climbing to $110,000.
Bitcoin recently surged past $68,000, hitting $68,400 before pulling back, and is currently trading at $67,400. This surge has helped maintain the total crypto market cap above $2.4 trillion.
Bluntz’s bullish prediction for Bitcoin, suggesting a potential rise to $100,000 and beyond, combined with recent price surges, could drive increased investor confidence and further boost Bitcoin’s price.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is currently trading at $67,410, experiencing a decline of nearly 1%. On the 4-hour chart, the pivot point is set at $66,660, marking a critical level for traders. Immediate resistance levels are at $68,420, followed by $69,250 and $70,090.
On the downside, immediate support is identified at $65,880, with additional support at $65,120 and $64,300.
Technical indicators present mixed signals. The RSI is at 55, indicating a neutral position, while the 50-day EMA at $66,250 suggests a buying trend above the $66,000 level.
The upward trendline also provides support near $66,660, indicating bullish momentum if this level holds.
In conclusion, Bitcoin’s outlook remains positive above $66,660, but a break below this pivot point could initiate a sharp selling trend.
Wiener AI: The AI Meme Coin with Bite
Wiener AI (WAI), the new AI-powered meme coin with a playful sausage dog theme, is attracting serious investor interest.
Beyond the Meme: WAI offers advanced AI trading tools, making it more than just a fun novelty. The project has already raised nearly $7.5 million in its presale, reflecting strong demand.
AI Boom: The rising popularity of AI, especially after Nvidia’s stellar earnings, is expected to fuel demand for WAI even further.
Passive Income Potential: WAI also offers substantial passive income opportunities. With 20% of the total supply allocated for staking rewards, investors can earn an impressive 396% APY.
Expert Endorsement: Prominent crypto analyst Michael Wrubel has identified WAI as one of his top crypto picks for 2024.
Time to Act: The presale price of WAI is currently $0.00072, and it’s set to increase soon. Early investors could see significant gains if WAI achieves market leadership.
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