Bitcoin Price Eyes $100K, Flips Silver Market Cap After MicroStrategy Buys $2 Billion BTC, But Traders Flock To This New ICO For Parabolic Potential

The Bitcoin price surged 8% in the last 24 hours to trade at $88,556 as of 04:36 a.m. EST on trading volume that skyrocketed 87% to $146 billion.

Bitcoin’s market capitalization surpassed that of silver to reach $1.74 trillion, making it the world’s eighth-largest asset. 

The BTC pump comes after Donald Trump’s landslide election win last week and news yesterday that MicroStrategy had bought another 27,200 BTC for about $2.03 billion. The firm now holds 279,420 BTC.

Bitcoin Price Aims For A Continued Surge

The Bitcoin price has been on a parabolic rise in November, as the bulls capitalized on the $69,000 support level to push the price further above, according to data from GeckoTerminal.

The 50-day Simple Moving Average (SMA) (white line) is at $76,248, and the 200-day SMA (yellow line) is at $69,272. Moreover, 50 MA is significantly above the 200 MA, creating a “Golden Cross” around $59,476 which is a strong bullish signal, indicating the Bitcoin price momentum in favor of further upward movement.

The Relative Strength Index (RSI) is at 82.77, which is in overbought territory (typically above 70 is considered overbought). This high RSI indicates strong bullish momentum, but it also signals that the asset might be reaching an overbought state, meaning it could be vulnerable to a short-term pullback or consolidation.

The MACD line (761.72) is far above the signal line (3460.40), confirming strong bullish momentum. The histogram is also positive, reinforcing this trend.

If this momentum sustains, the bulls are aiming at the next possible target at $100,000.

Bitcoin Price Chart Analysis Source: GeckoTerminal
BTCUSD Chart Analysis Source: GeckoTerminal

Conversely, if the bears act on the RSI being overextended and overvalued, the price of Bitcoin could drop, with the SMAs at $76,248 and $69,272 acting as the possible support zones.

Meanwhile, investors who are looking for diversification opportunities might consider the newly launched Best Wallet (BEST) presale.

Best Wallet’s Upcoming Tokens Feature Raises $2.7M In Six Weeks

Best Wallet is a top non-custodial Web3 crypto wallet supporting over 50 major chains. It enables users to buy, swap, hold, and sell cryptocurrencies like Bitcoin, Ethereum, and USDT, all while maintaining control over their assets. 

Known for challenging traditional wallets like MetaMask, Best Wallet offers innovative Features, such as its “Upcoming Tokens” tool. This feature simplifies participation in token presales while protecting users from scam sites.

Since launching about six weeks ago, Upcoming Tokens has already raised $2.7 million across all featured presales. This highlights wallet users’ growing preference for the tool, as they seek to get in early on promising projects swiftly and with minimal hassle.

Best Token itself is also being launched currently via the Upcoming Tokens feature in Best Wallet.

Since launch, Best Wallet has processed 21,000+ presale transactions, with an 810% user growth and 50% monthly increase. It offers reduced fees, early project access, higher staking rewards, and the opportunity to earn more through daily airdrop tasks.

For the first two weeks, the $BEST Token presale is exclusive to Best Wallet users, allowing them to secure $BEST tokens at a reduced price of $0.0225 right now. 

To join the presale before a price increase in less than two days, download Best Wallet at the official $BEST Token website here.

Related News

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  • Is It Too Late To Buy STRUMP? Super Trump Price Surges 74% And This Might Be The Next Crypto To Explode
  • How to Buy Bitcoin with Credit Card

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