Bitcoin Price Prediction: As Franklin Templeton Says TradFi Underestimates BTC’s Scale, This New ICO Raises $634k In A Week Even As Crypto S...
Release: 2024/08/22 18:09 Reading: 214
Bitcoin Price Surges Amidst Underestimation
In the past 24 hours, the Bitcoin (BTC) price has witnessed a 2% increase, bringing it to $60,645 at the time of writing (03:11 a.m. EST). This surge in value aligns with a remarkable 30% increase in trading volume, which has now climbed to $34 billion.
Traditional Finance Underestimates Bitcoin
Jenny Johnson, CEO of Franklin Templeton, recently expressed her belief that traditional finance (TradFi) is undervaluing the significance of Bitcoin transactions. According to Johnson, the Bitcoin blockchain processed over $36.6 trillion in transactions during 2023, surpassing the combined volume of Visa and Mastercard.
Bullish Rally on the Horizon
Technical analysis indicates that Bitcoin is poised for a bullish rally. The price has broken above the 50-day Simple Moving Average (SMA), signaling the bulls' increasing confidence. Should the rally continue, Bitcoin could overcome the immediate resistance at $62,135, which coincides with the 200-day SMA.
Bullish Indicators Support Rally
The Relative Strength Index (RSI) currently stands at 55, indicating that Bitcoin is in equilibrium but leaning towards a bullish stance. Additionally, the Moving Average Convergence Divergence (MACD) has crossed above the neutral line, further supporting the bullish sentiment.
Meme Coin Hype
As the Bitcoin price rises, investors are flocking to Crypto All-Stars (STARS), a recently launched meme coin. YouTuber Jacob Bury has predicted that STARS has the potential to surge 10X post-launch.
Crypto All-Stars Presale Success
Within a week of its launch, Crypto All-Stars has raised over $634,000, despite the crypto market's downturn. The project's unique feature, MemeVault, allows holders of popular meme coins to stake their tokens together, simplifying the process and earning rewards in the $STARS token.
Exclusive Investment Opportunity
Investors can purchase $STARS directly from the official website using ETH, BNB, or credit cards. The current presale price of $0.0013966 offers a lucrative investment opportunity, as the price is expected to rise shortly.
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