The Bitcoin price has surged by 5% in the last 24 hours to trade at $44.1K as of 9:50 a.m. EST after touching $45,000 earlier in the day. 

That’s all a far cry from November last year, when a bit of Bitcoin stability prompted the European Central Bank to state in a blog post that it was “an artificially induced last gasp before the road to irrelevance.”

The king of cryptocurrencies has since soared almost 170% from what the ECB saw as BTC’s imminent demise at around $16,400. 

Bitcoin Price Prediction

Looking at 4-our BTC/USD charts, the 50-period moving average has exceeded the 200-period moving average, showing buying pressure on Bitcoin. This shows a likely bullish short-term as bulls now look to break past the $44.4k resistance level.

The MACD also moves in the green zone, demonstrating bull dominance on the bitcoin price. In contrast, the Relative Strength Index indicators moves in the overbought region, showing bullishness on the Bitcoin price.

According to @Whalechart, BlackRock has been buying Bitcoin through the bear market, showing interest in the crypto king from big players. This development could also contribute to Bitcoin’s surge in the short term, especially with the enthusiasm surrounding its Bitcoin ETF approval.

JUST IN:

BlackRock has been buying Bitcoin throughout the whole bear market using their private trust.

This private trust was launched in 2022 with coinbase as custodian.

— Whale | Dinobet.io (@WhaleChart) December 5, 2023

Meanwhile, as the Bitcoin price surges, the Bitcoin ETF Token continues to attract more investors via its BTCETF token presale, with its momentum showing no signs of abating. With a token price of $0.0064, the presale has raised $2.8 million.

#BitcoinETF Stage 8 has begun! 🚀 pic.twitter.com/Zxp6tAPVpB

— BTCETF_Token (@BTCETF_Token) December 6, 2023

Bitcoin Price Prediction: Why BTCETF Is A Great Buy Amid BTC’s Bull Run

As the Bitcoin ETF Token (BTCETF) presale campaign gains momentum, investors eagerly await the Securities and Exchange Commission’s (SEC) decision on about a dozen  Bitcoin ETF applications. The innovative Bitcoin investment product seeks to cash in on the growing anticipation of SEC approvals.

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There will be another price change in less than three days so the time to buy is now to capitalize on the discount.

Taxes on Transactions and Burning Tokens

BTCETF intends to conduct a 25% burn of its token supply as part of its thorough five-stage ETF approval approach. If Bitcoin’s price exceeds $100,000, the entire circulating supply will be reduced to 1.575 billion tokens, with an extra 5% burn. These burns will support the future Bitcoin ETF token price.

BTCETF is making its mark in the ever-changing cryptocurrency industry by concentrating on price support, strategic goals, and compatibility with the Bitcoin ETF story. So, don’t miss out on the presale.

Get your BTCETF tokens here. 

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• Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-defies-ecbs-last-gasp-prediction-as-it-flirts-with-45k-but-investors-flock-to-this-btc-altcoin-to-play-the-next-crypto-bull-run