Analysts have warned of a potential Bitcoin (BTC) crash following two weeks of consistent gains. The largest cryptocurrency by market cap has been on a steady rise since bottoming out in early July and is currently hovering above $66,000. However, recent predictions suggest BTC could collapse in the coming weeks, revisiting the $55,000 region.
Meanwhile, the newest meme coin sensation, MoonTaurus (MNTR), is rapidly gaining attention among investors during its presale. The presale has seen remarkable growth, raising over $150,000 in just days. With the first phase now coming to an end, investors are looking forward to a 100% price jump as the second phase begins.
Bitcoin (BTC) to Revisit $55,000
Bitcoin has risen steadily since July 5, when the asset’s collapse, triggered by the German government selloff, bottomed out at $53,500. On July 29, BTC briefly reached $70,000 before retracing 3% within minutes. The crypto asset is trading at $66,300, down 5% in the last 24 hours.
Bitcoin’s recent drop comes after the US government moved $2 billion in seized bitcoin, sparking speculation of a selloff. According to on-chain analysis firm Arkham Intelligence, a wallet linked to Bitcoin seized from the Silk Road website transferred 29,800 BTC to an unknown address. This address then split the BTC into 19,800 BTC and 10,000 BTC, transferring it to two other addresses. Arkham speculates that the 10,000 BTC, around $670 million at current prices, was likely deposited into an institutional service. Historically, such movements have preceded selling.
This follows Donald Trump’s pledge during the annual Bitcoin conference in Nashville over the weekend to retain all of the U.S. government’s seized Bitcoin if he is elected in November. Before the recent move, the government held $12 billion worth of seized Bitcoin.
$50,000, Then $100,000
After the U.S. government began transferring the seized BTC, Bitcoin, which had reached $70,000 for the first time in over 45 days, quickly dropped 3%. Analysts speculate that if the government starts selling, Bitcoin could dip further.
The asset remains in a bullish zone, trading above the 200-day moving average. The key levels to watch are $64,000 (mid-range) and $60,000 (lower range). As long as the price stays above the mid-range zone, bullish momentum will continue. However, a dip below this level, and subsequently $60,000, could trigger a larger selloff, sending the asset back to early July levels with the $50,000-$55,000 zone forming key support. The selloff will likely bottom out in this zone before rallying to the $100,000 mark.
MoonTaurus (MNTR) Approaches Stage 2 with a 100% Price Increase
While Bitcoin braces for a potential dip, MoonTaurus is on the verge of a 100% price increase as it moves into the second phase of its presale. The MNTR token presale is divided into 10 phases, with prices set to rise progressively until launch. The opening price was $0.005 and will see a 100% uptick to $0.01 in stage two. This will continue until MNTR launches at $0.07. The launch price ensures phase one investors reap a 1400% return.
The dynamic pricing has triggered massive FOMO among crypto investors, with most rushing to invest early. Within days, the presale has raised over $150,000 and is already 52% sold out in the first phase.
What is MoonTaurus (MNTR)?
MoonTaurus (MNTR) is a recently launched bull-themed meme coin that has quickly established itself, with one of the fastest-selling presales in 2024. Market observers have reported whale involvement in the presale, including from early investors in Shiba Inu. This endorsement by experienced and deep-pocketed investors has drawn more attention to MoonTaurus.
Early expert predictions indicate that the meme coin could skyrocket by at least 2000% following the presale, reaching $1 by the end of the year. The project will be launched on decentralized and centralized exchanges, including top-tier exchanges, to maximize its market potential.
The crypto market is bracing for two key developments in the near future. On one side, Bitcoin is expected to face a dip, with key support levels around $55,000. MoonTaurus, on the other hand, is generating excitement with a planned 100% price increase as it nears the second stage of its presale. MNTR has quickly captivated investors, including whales who made fortunes during the Shiba Inu rally. Analysts predict a steep climb for the newcomer, including a 2000% rally to hit $1 in 2024. By participating in the presale now, you secure a guaranteed 14x ROI at launch.
Website: https://moontaurus.com/
Linktree: https://linktr.ee/moontaurus
