Bitcoin price rises 7%, but analysts say this could be the next cryptocurrency to surge 100x

Bitcoin price is up 7% in the last 24 hours to trade at $61,031 As of 5 a.m. ET, trading volume was up 9% to $43.5 billion.

The world’s oldest and first cryptocurrency is still down around 5% on the weekly chart, meaning that the recovery it has seen over the past four days has not been enough to compensate for Bitcoin’s losses before that. However, the coin is still up 100% in price over the past 12 months, although it is far from its all-time highs at the moment.

Bitcoin Price Prediction

Bitcoin saw a strong rally over the past 24 hours, successfully pushing it back above the $60,000 level, but the coin lost momentum after approaching the $62,000 mark earlier. Since then, it has spent about 12 hours in sideways trading with minor volatility.

However, traders interested in seeing what happens next should take into account technical indicators such as Bollinger Bands, which are currently quite narrow. This in itself could be a bearish signal. But while the bands remain narrow, Bitcoin has been trying to push the upper band higher, often fluctuating between this band and the central area between the two bands, and rarely going to the lower band.

This in itself looks promising, especially when combined with the cryptocurrency’s Relative Strength Index (RSI).

The RSI value has also been trending towards the edges of neutral territory over the past 12 hours, although it can occasionally dip into oversold territory. This suggests that traders have been too cautious when it comes to buying, and too quick to sell. All of this points to a lot of uncertainty in the market at the moment, as many seem to be anticipating a new bearish wave to push Bitcoin below the $60,000 level, and this may indeed happen.

Moreover, the coin’s RSI has also seen two spikes towards the overbought zone in the past few hours. It hasn’t reached there, but it shows that traders are becoming more relaxed. This level of calm is likely to increase over time if the coin can maintain its current level. Optimism is also slowly building, and this alone could help Bitcoin return to the $62K level. Bitcoin could rally above this point over the weekend.

A promising alternative to Bitcoin

Right now, Bitcoin is still struggling to stay above the $60,000 level, and while there is reason to believe that the currency will soon rise, many are looking for other, less risky opportunities. Bitcoin is a high-risk, high-reward type of investment, but projects like DAWGZ Base You have the opportunity to get more reward while being accompanied by much less risk.

Base Dawgz is one of the newest cryptocurrencies, which makes it an investment worth considering, as the cryptocurrency sector is booming more than ever in 2024. However, Base Dawgz’s potential goes far beyond that.

DAWGZ was developed on the Base blockchain, and is designed to run on five different blockchains simultaneously after the ICO ends and the project is launched. These include the original Base chain, as well as Avalanche, Ethereum, Solana, and BSC.

In other words, five of the largest and most active chains in the industry will be connected through DAWGZ, which will be able to provide true interoperability.

This will be possible thanks to the project’s use of Portal Bridge and Wormhole technologies, which will enable funds to be moved seamlessly from one chain to another, without the need for wrapped tokens, stablecoins, or requiring investors to convert one token to another.

Therefore, DAWGZ will be able to unleash the full potential of all five chains and allow you to access any opportunity on any of them at any time.

Congratulations on crossing 2.8 million! Dogs 🥳

We are getting closer to the date and hope to be able to provide you with an update next week 🤝 pic.twitter.com/mRvjOMwD6F

— BaseDawgz (@BaseDawgz) August 3, 2024

This is why Pre-sale The Shiba Inu project has been a huge success, raising over $2.85 million as of this writing, which is why major crypto experts, like YouTuber ClayBro, believe it has a huge chance to explode and even challenge projects like Shiba Inu.

You can join Base Dawgz now by purchasing its DAWGZ token for $0.007414 using USDT, USDC, ETH, BUSD, BNB, SOL, or AVAX.

Visit the official website of DAWGZ.

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