Bitcoin’s price surged above $65,000 today, reaching its highest level since November 2021, as rumors about large investors accumulating the coin started to circulate.
The coin’s rally continues to make headlines in the crypto market – and analysts now expect BTC to hit a new all-time high soon.
Meanwhile, some traders are keeping a close eye on Green Bitcoin (GBTC), a brand-new project that combines the legacy of Bitcoin with the eco-friendliness of Ethereum.
Bitcoin Soars Past $65k as ATH Looms Large
Bitcoin’s rise above $65,000 is a significant milestone highlighting the growing mainstream adoption and bullish sentiment around the coin.
The coin’s surge comes from enormous institutional investments and widespread speculation about the potential impact of the upcoming Bitcoin halving event in April.
This halving, which occurs every four years, will reduce the rate at which new BTC is released into circulation.
These events have been historically followed by substantial price rallies as the decreased supply meets rising demand from investors.
However, things seem different this time, with Bitcoin’s price rally starting well ahead of the halving compared to previous cycles.
At the time of writing, BTC‘s price is hovering around $65,470, almost 5% higher than Friday’s close.
Additionally, record levels of open interest in Bitcoin futures contracts suggest that traders expect the uptrend to continue.
Whale Buying Rumors Drive Bitcoin’s Price Higher
Speculation surrounding the entry of crypto whales has further fueled Bitcoin’s price rise in the past 24 hours.
Rumors have been swirling about the identity of a mysterious Bitcoin buyer, with a recent Forbes article pointing to Qatar’s sovereign wealth fund or even billionaire Jeff Bezos.
Adding legitimacy to these rumors, Maz Keiser, a prominent Bitcoin investor working with El Salvador, claimed in December that Qatar’s sovereign wealth fund is rumored to be looking at buying $500 billion worth of BTC.
This statement was backed up by Anthony Scaramucci, the founder of SkyBridge Capital, who thanked Keiser on social media – fueling more speculation.
Although nothing has yet been confirmed, Keiser and Scaramucci publicly discussing large potential BTC purchases by nation-states has piqued investors’ interest.
Even rumors of such megadeals have spurred further FOMO and buying activity from retail investors.
As long as these rumors maintain a small degree of credibility, Bitcoin’s bull narrative will likely continue strengthening.
Eco-Friendly Contender Green Bitcoin Raises $1.6M for Gamified Staking Model
With the crypto market buzzing from Bitcoin’s push past $65,000, attention is turning to other promising projects that could capitalize on the bullish sentiment.
One such project is Green Bitcoin, an eco-friendly cryptocurrency that aims to combine the reputation of Bitcoin with the environmental sustainability of the Ethereum blockchain.
Green Bitcoin has been turning heads in its ongoing presale, generating sizable interest from investors seeking a more eco-friendly alternative within the crypto market.
By using Ethereum’s Proof-of-Stake (PoS) consensus mechanism, Green Bitcoin dramatically reduces the energy consumption associated with Bitcoin’s Proof-of-Work (PoW) model.
In turn, this addresses a significant concern surrounding Bitcoin – its carbon footprint.
However, Green Bitcoin’s appeal extends beyond its eco-friendly approach.
The project’s unique selling point is its “Gamified Green Staking” model, which not only allows users to earn passive income through staking but also offers an opportunity to boost those earnings.
As outlined in Green Bitcoin’s whitepaper, this setup works through daily price prediction challenges, which not only adds a gamification element but also has the potential of yielding even higher returns.
With the crypto market showing no signs of cooling off, projects like Green Bitcoin look well-positioned.
Those interested in buying GBTC, Green Bitcoin’s native token, can do so at a discount through the ongoing presale, which has raised over $1.6 million.
GBTC tokens are available for just $0.574 – although this price is only set to last for three more days before increasing.
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