Bitcoin Price On A Bullish Trend: Could It Continue?

The Bitcoin price edged up a fraction of a percent in the last 24 hours to trade at $62,916 as of 10:32 p.m. EST even as trading volume tumbled 9% to $34 billion.

Bitcoin (BTC) price edged up a fraction of a percent in the last 24 hours to trade at $62,916 by 10:32 p.m. EST even as trading volume tumbled 9% to hit $34 billion.

The slight uptick in the world’s largest cryptocurrency’s price comes as Michael Saylor’s MicroStrategy announced that it had purchased an additional $458 million worth of Bitcoin. After purchasing the 7,420 BTC, the company confirmed that it now holds a remarkable 252 BTC acquired at an average cost of $39,266.

MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per #bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 $BTC acquired for ~$9.9 billion at ~$39,266 per bitcoin. $MSTR https://t.co/JUtgztpzBu

— Michael Saylor⚡️ (@saylor) September 20, 2024

Bitcoin Price On A Bullish Trend: Could It Continue?

The Bitcoin price capitalized on the cup and handle pattern and the $58,000 support to push the price up, according to data from GeckoTerminal.

BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the sustained bullish trend.

Moreover, the Relative Strength Index (RSI) seems to be rebounding above the 60 zone as it hurtles towards the 70-overbought region, a confirmation that the asset is currently under intense buying pressure.

The continued positive trajectory is also supported by the Moving Average Convergence Divergence (MACD), which is now soaring above the neutral zone.

If the positive trend continues, the price of Bitcoin could soar even further, as the BTC price bulls target $67,000.

However, if the bears take advantage of the price at this level, BTC could plunge back to the 200-day SMA, currently at $59,229.

Meanwhile, investors are piling into the new meme coin casino project Memebet Casino (MEMEBET Token), which has amassed over $260K since its presale launched a little more than a week ago.

Cryptonews, a popular crypto YouTube channel with over 10k subscribers, predicts that $MEMEBET Token could see a 100x increase after launch.

Memebet Token Surpasses $260K In A Week – Best Crypto To Buy Now?

Since launching last week, the Web3’s first meme coin casino has raised over $260K as whales pile in to buy at rock-bottom fixed prices. 

The project straddles two high-growth segments: online casinos and meme coins, and specifically targets degen gamers.

Not the casino we deserve but the casino we need ? #MemeBet #Presale & #Airdrop coming soon! ? #Memecoins, #Crypto gaming and more! ?? $COIN $DOG $PEPE #SOL #RNDR pic.twitter.com/oR2xja6JFK

— Memebetcasino (@Memebetcasino) May 23, 2024

By purchasing MEMEBET Token, players can unlock massive P2E airdrop giveaways, special degen rewards, and exclusive VIP benefits. 

After its launch, the Memebet Token platform will accept meme coins for wagering on casino games, slots, and sports betting – a feature no GambleFi platform has offered previously.

The platform features a variety of casino games, meme coin betting options, high-stakes play, and a sportsbook where users can bet using Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and other leading meme coins.

Players who wager using $MEMEBET Token earn additional rewards through the platform’s play-to-earn system. 

To join the presale, you can buy $MEMEBET Token on the official website for $0.0252 using USDT, ETH, or a bank card. With a price hike coming in less than 40 minutes, buy quickly to lock in the best deal.

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