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Bitcoin Price Prediction: BTC Plunges 3% As Mt. Gox Moves $784 Million And This Solana GameFi Crypto Closes On $2 Million

Bitcoin Price Prediction: BTC Plunges 3% As Mt. Gox Moves $784 Million And This Solana GameFi Crypto Closes On $2 Million

Insidebitcoin2024/08/21 11:58
By:Insidebitcoin

The Bitcoin price plunged 3% in the last 24 hours to trade at $59,553 as of 03:18 a.m. EST on trading volume that dropped 7% to $27 billion.

This comes as an address associated with the defunct crypto exchange Mt. Gox moved 13,265 BTC worth $784 million.

According to Alex Thorn, head of research at Galaxy Digital, the latest batch of on-chain movement of BTC may not translate into substantial selling pressure.

Bitcoin Price Could Still Surge

The Bitcoin price has been in a consolidation phase since August 8, as BTC trades on a sideways pattern within the $61,000 resistance and the $56,665 support zone, according to data from GeckoTerminal.

BTC has now crossed above the 50-day Simple Moving Average (SMA), which suggests that Bitcoin’s price could be on an uptrend in the short term.

Moreover, the Relative Strength Index (RSI) also seems to be rebounding from the 50-midline level, currently at 51, as it indicates a growing buying pressure.

If the buying continues, the Bitcoin price could breach the upper boundary of the sideways pattern. The bulls aim to surpass the 200-day SMA at $62,255 as they target $64,000.

Bitcoin Price Chart Analysis Source: GeckoTerminal.com

However, if the price of Bitcoin breaches the lower boundary of the pattern at $56,645, BTC could plunge further to find support around $54,635.  

Meanwhile, as the Bitcoin price aims for a bullish rally, other investors are rushing to buy a new GameFi token on Solana called  Mega Dice (DICE) that the prominent YouTube channel 99Bitcoins says could soar 100X after launch.

Mega Dice Presale Garners Over $1.7 Million

The Mega Dice presale is closing in on $2 million in funds raised in its presale.

Mega Dice’s influence in crypto gaming is evident with its growing player base of over 50,000, who wager an average of over $50 million monthly.

Users on the platform also enjoy over 4,000 casino games and have access to over 50 sports and eSports betting options.

Token holders can also earn rewards through staking , receiving daily payouts based on the casino’s profits.

Mega Dice also offers NFTs for VIP players and a 25% referral commission to further drive engagement and participation on the platform.

To join the presale, you can buy $DICE on the official website here for $0.110529 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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