Bitcoin Price Analysis: BTC Nears $65,000; BlackRock’s AI Strategy and Saylor’s 1,620% Gain
Bitcoin
Cryptocurrency
Last updated:
October 14, 2024 06:10 EDT
Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
About Author
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis…
Author Profile
Share
Copied
Last updated:
October 14, 2024 06:10 EDT
Why Trust Cryptonews
With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict
editorial standards
, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets.
Read more about Cryptonews
Bitcoin (BTC/USD) is maintaining its upward momentum, trading at $64,770. With growing institutional interest and emerging technologies like AI being integrated into financial strategies, Bitcoin’s price continues to capture attention.
BlackRock’s CEO Larry Fink predicts a surge in Bitcoin and Ethereum, while Michael Saylor’s bold Bitcoin strategy has driven MicroStrategy’s stock growth by 1,620%, showcasing the increasing relevance of digital assets.
BlackRock CEO Predicts Bitcoin and Ethereum Surge with AI-Powered Strategy
BlackRock CEO Larry Fink has unveiled ambitious plans to merge Bitcoin and artificial intelligence (AI), including a “digitized dollar” project. Fink views Bitcoin and Ethereum as key components of future financial systems, comparing Bitcoin to commodities like gold.
Since January, BlackRock’s Bitcoin ETF has attracted $21.7 billion in net inflows, pushing the firm’s total assets beyond $11 trillion.
Fink’s vision for AI-driven cryptography is boosting institutional confidence.
A rise in Bitcoin prices is anticipated as AI and blockchain merge.
Michael Saylor’s Bitcoin Strategy Fuels MicroStrategy’s 1,620% Stock Growth
MicroStrategy CEO Michael Saylor recently shared insights on X about the company’s remarkable Bitcoin strategy.
Since adopting Bitcoin in August 2020, MicroStrategy’s stock (MSTR) has surged 1,620%, surpassing Nvidia’s 1,107% gain.
The company now holds 252,220 BTC, purchased at an average price of $39,292, with unrealized gains nearing $5.85 billion.
Saylor emphasized the importance of sticking with Bitcoin through market downturns, highlighting MicroStrategy’s continued BTC purchases even during the 2022 bear market.
Saylor’s strategy reinforces Bitcoin’s role in institutional investing.
His faith in Bitcoin could boost market confidence and BTC prices.
Kamala Harris’ Crypto and AI Policies Could Boost These Stocks
If elected, Vice President Kamala Harris plans to promote the cryptocurrency and artificial intelligence industries. This marks a shift from President Biden’s stricter regulatory approach.
Harris emphasized the importance of protecting consumers while fostering innovation in digital assets during a recent fundraiser.
Industry leaders, including Uniswap CEO Hayden Adams, have praised her supportive stance on crypto. This could benefit stocks like Coinbase, which has faced challenges with the SEC, and Nvidia, a key player in AI.
Pro-crypto sentiment may rise, reducing regulatory uncertainty.
Bitcoin prices could see positive momentum under a Harris-led administration.
Bitcoin Price Analysis – October 14, 2024
Bitcoin (BTC/USD) continues its bullish trend, trading at $64,770, up 0.29% on the day. The cryptocurrency recently broke above a key resistance level at $63,810 and is now testing the next resistance at $65,280.
A clear breakout above this level could pave the way for BTC to challenge the higher resistance at $66,320.
On the downside, immediate support lies at $63,000, with stronger levels at $62,240 and $61,200. The 50-day EMA at $62,230 is providing short-term support, reinforcing the pivot point.
Bitcoin Price Chart – Source: Tradingview
Technically, the RSI is at 71, indicating overbought conditions but still supporting bullish momentum. As long as Bitcoin remains above the $63,810 pivot, the outlook remains positive
Key Insights:
Bitcoin is trading above its key support level at $63,810.
Immediate resistance is at $65,280, with further resistance at $66,320.
RSI at 71 signals overbought conditions, but bullish momentum persists.
–
You might also like
Bitcoin Price Prediction 2024 – 2034
PEPE Unchained Raises Over $18 Million: New 10x Meme Coin Potential?
Pepe Unchained ($PEPU) continues to attract attention in the meme coin market, raising $18.4 million in its presale so far. With just a few thousand dollars remaining to hit its $18.6 million target, investors are eagerly watching.
The token’s presale price currently stands at $0.00996 per $PEPU, with a potential price increase expected soon.
Popular crypto analyst Jacob Crypto Bury has released a video discussing $PEPU’s growth potential, highlighting its strong presale performance and staking rewards.
Bury maintains a neutral stance but notes that $PEPU’s secure contract audits and high staking APY of 499% position it as a potential top performer in the meme coin space.
Key Highlights:
Strong Presale Performance
: $18.91 M raised so far; nearing $18.94 M target.
High APY for Staking
: Earn up to 499% APY by staking $
PEPU
tokens.
Analyst Commentary
: Jacob Crypto Bury discusses $PEPU’s potential growth.
With investor sentiment remaining strong, now might be the time to consider adding $PEPU to your portfolio before the next price increase.
Buy PEPU Here
Follow us on Google News
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.