Bitcoin ETF

Bitcoin

Base

The Bitcoin price <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">pumped</a> over 3% in the last 24 hours to trade at $57,192.99 as of 7:30 a.m. EST as investors start accumulating the leading crypto following the recent market crash.
While many investors panicked and sold crypto at the beginning of the week, boomers who bought into spot Bitcoin <a href="https://insidebitcoins.com/news/nasdaqs-options-exchange-asks-sec-to-allow-options-trading-on-spot-ethereum-etfs" rel="noopener noreferrer nofollow">ETF</a> (exchange-traded fund) were unfazed. 
Data from <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside</a> shows these investment products recorded zero flows during the market crash on Aug. 6 as ETF holders opted to ride out the storm. That holds out the hope of a less volatile future for major cryptos as institutional adoption increases.
<h2 id="span-style-font-weight-400-the-bitcoin-price-could-undergo-a-strong-move-soon-span">The Bitcoin Price Could Undergo A Strong Move Soon</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/x/X4vSEGGm.png" alt="BINANCE:BTCUSDT Chart Image by StevenWalgenbach">
4-hour chart for BTC/USDT (Source: <a href="https://www.tradingview.com/x/X4vSEGGm/" rel="noopener noreferrer nofollow">TradingView</a>)
The <a href="https://insidebitcoins.com/news/bitcoin-plunges-to-49000-as-99btc-emerges-as-best-buy-the-dip-play-under-18-hours-left" rel="noopener noreferrer nofollow">Bitcoin</a> price is approaching the major resistance level at $57,737.69. A symmetrical triangle has also formed on the leading crypto’s 4-hour chart, which suggests BTC might undergo a strong move soon.
Should the Bitcoin price breakout towards the upside, it could have the momentum needed to flip the $57,737.69 technical barrier into support. Thereafter, the crypto will have the space needed to potentially rise to as high as $62,372.95 in the following couple of days.
On the other hand, the symmetrical triangle resulting in a price plunge could lead to the Bitcoin price falling to the immediate support level at $52,815.69.
<h2 id="span-style-font-weight-400-technicals-suggest-the-bitcoin-price-might-keep-rising-span">Technicals Suggest The Bitcoin Price Might Keep Rising</h2>
From a technical perspective, indicators on BTC’s 4-hour chart suggest the market leader’s price might continue to climb in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bullish signs.
In the last 48 hours, the MACD line crossed above the MACD Signal line. Traders usually see this technical occurrence as an indication that a crypto has entered a positive trend. What’s more, the growing gap between the two lines suggests BTC’s positive momentum is intensifying.
Throughout the past day of trading, the RSI line also broke above its Simple Moving Average (SMA) line to signal that buyers have gained an upper hand against sellers. With the RSI line positively sloped, it seems bulls are growing their strength against bears as well.
<h2 id="a-promising-alternative-option">A Promising Alternative Option</h2>
While BTC approaches a major resistance level, investors are rushing to buy the new Base meme coin <a href="https://insidebitcoins.com/visit/basedawgz" rel="noopener noreferrer nofollow">Base Dawgz (DAWGZ),</a> <span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">which crypto YouTuber ClayBro says shows expectations of 10x gains on launch.
<iframe title="Base Dawgz Price Predictions Show Expectations of 10x Increase This Year!" width="640" height="360" src="https://www.youtube.com/embed/unoTP_x3lpQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="span-style-font-weight-400-the-potential-to-overtake-brett-as-the-biggest-base-meme-coin-span">The Potential To Overtake Brett As The Biggest Base Meme Coin</h2>
Base Dawgz (DAWGZ) is a new meme coin project looking to replicate the incredible success of its predecessor Brett, now the undisputed Base chain champion.
 Since entering the market, Brett has managed to soar to a market cap of over $939 million, ranking it as the 65th biggest crypto project overall. However, Brett lacks utility and that could hamper its prospects in the long run.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 So yesterday was a wild ride huh?
 Did you make any gains? 🛩️ <a href="https://t.co/RjJ2KZ62kw" rel="noopener noreferrer nofollow">pic.twitter.com/RjJ2KZ62kw</a>
 — Base Dawgz (@BaseDawgz) <a href="https://twitter.com/BaseDawgz/status/1820750081819087224?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 6, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This is where Base Dawgz has an advantage. Although the meme coin calls the layer-2 Base chain its home, the project’s team plans on expanding the token’s presence to other chains. 
The list of additional blockchains include some of the most active and liquid networks in the space, including Avalanche, Solana, Binance Smart Chain, and Ethereum.
Powered by Wormhole and Portal Bridge Technology, Base Dawgz gives token holders the ability to seamlessly transfer value across all of the project’s supported networks.
<h2 id="span-style-font-weight-400-an-investor-frenzy-erupts-around-dawgz-s-presale-span">An Investor Frenzy Erupts Around DAWGZ’s Presale</h2>
More than $2.8 million has been sent to DAWGZ’s ongoing ICO, signaling strong investor confidence in the project’s future.&nbsp;
This bullish momentum is likely to continue as investors not only rush to purchase DAWGZ at ICO prices, but also hurry to get in on the bumper 946% APY on offer to buyers at this early stage.
To become eligible for these rewards, investors can buy the token for $0.007414 via the simple buy widget embedded on the project’s website using either ETH, BASE, SOL, AVAX, or BNB.
Once purchased, the tokens can be locked up via the website’s staking page to unlock the high rewards.
 Investors might want to act fast though because DAWGZ’s price is scheduled to increase in less than 6 days.
<a href="https://insidebitcoins.com/visit/basedawgz" rel="noopener noreferrer nofollow">Purchase and stake DAWGZ for the 946% APY here before its price increases.</a>
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e/" rel="noopener noreferrer nofollow">Upcoming Crypto Presales: Unlock Early Investment Opportunities!&nbsp;</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/nasdaqs-options-exchange-asks-sec-to-allow-options-trading-on-spot-ethereum-etfs" rel="noopener noreferrer nofollow">Nasdaq Asks SEC To Allow Options Trading On BlackRock’s Spot Ethereum ETF</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/doodles-azuki-are-making-nfts-bullish-again-with-new-short-animated-films" rel="noopener noreferrer nofollow">Doodles &amp; Azuki Are Making NFTs Bullish Again With New Short Animated Films</a></li>
</ul>

Bitcoin Price Prediction As BlackRock Boomers Hold Onto BTC ETFs Despite The Market Crash

Table of Contents

Inside Bitcoins

Other articles published on Aug 7, 2024

Billionaire Pepe (PEPEBILL) Memecoin Will Surge Over 19,000% Before Exchange Listing, As SHIB and...

Michael Saylor's MicroStrategy Plans to Raise $2B to Buy More Bitcoin

Vitalik Buterin Issues Crucial Update on Ethereum Block Advancement

Grayscale Announces New Cryptocurrency Investment Funds

Market Turbulence: What Exactly Happened?

Bitcoin Cash Under the Spotlight: Recent Price Trends, Benefits of Staking, and the Best Crypto P...

Join our free newsletter for daily crypto updates!