Bitcoin (BTC) made history on Wednesday when it pushed above $112,000 on Binance, setting a new all-time high (ATH).
With BTC’s recent performance appearing ready to trigger a market-wide rally, tokens linked to the leading cryptocurrency are enjoying increasing attention. Among them, BTC Bull Token (BTCBULL), a recently-launched meme coin that offers Bitcoin-linked rewards, exploded by 139% over the last 24 hours.
Amid BTC’s surge, Bitcoin Hyper’s (HYPER) presale is also turning heads with its upcoming Bitcoin Layer 2 solution. The meme coin project’s goal of improving the scalability and performance of Bitcoin’s Layer 1 is resonating with investors, who have already invested over $2.2 million into the HYPER presale.
How Far Can Bitcoin Go This Year?
After spending most of the past week trading between $107,000 and $110,000, Bitcoin managed to push beyond $112,000 and achieve a new ATH on July 9th.
Although profit taking by investors saw its price immediately dip back to the $111,000 range, Bitcoin’s technical indicators suggest it can grow much further this year.
BTC’s 50-day Simple Moving Average (SMA) of $106,794 remains above its 200-day SMA of $88,273, forming a Golden Cross. This formation is often seen as a confirmation of a token’s building upward momentum, fueling the bullish sentiment surrounding the leading cryptocurrency.
Additionally, BTC’s Relative Strength Index (RSI) of 62.45 shows the token is still in neutral-to-bullish territory, as it has plenty of room to increase in value before it reaches overbought territory.
Encouraged by Bitcoin’s performance and growth potential, technical analyst Gordon believes a decisive move above the $120,000 mark could send Bitcoin soaring to $148,000 this year.
Beyond a positive technical outlook, BTC was recently endorsed by Elon Musk, who said his “America Party” will embrace Bitcoin as an alternative to fiat, with the boost in visibility helping drive its growth.
BTCBULL Explodes to a $73M Market Cap – Here’s How it Helps Investors Capture BTC’s Upside
As Bitcoin shows the potential to explode this year, BTC Bull Token’s holders have a lot to look forward to over the next few months.
That’s because the project features a unique roadmap that offers rewards set to be triggered as Bitcoin grows.
Starting at the $125,000 mark and continuing each time Bitcoin grows by another $50,000, a portion of BTCBULL will be removed from circulation, introducing scarcity and potentially boosting its value.
Likewise, when Bitcoin hits $150,000, $200,000, and $250,000, the project will distribute BTC and BTCBULL airdrops to its community.
The meme token, which recently exited its presale phase with $8.44 million raised, listed on Uniswap on July 7th and has already pushed past a $73 million market cap.
Gaining nearly 2,000 new holders over the past 24 hours alone, BTCBULL is now held by 10,270 investors, according to Dextools data.
Entering July 9th priced at $0.001949, BTCBULL is now valued at $0.004675, which represents a 139% increase in just 24 hours. In comparison, Bitcoin increased by 2.3% over the same period.
With Bitcoin inching closer to triggering BTCBULL’s first reward, the meme token could continue to outperform BTC, making it the best way to invest in Bitcoin’s expected upside.
Bitcoin Hyper is Shaping up to Become This Cycle’s Top Gainer
Following the massive gains BTCBULL saw after exiting its presale, the Bitcoin Hyper presale is receiving increasing attention as it also revolves around Bitcoin.
The project aims to introduce the first Layer 2 on Bitcoin, which will utilize rollups to improve its scalability without congesting its network.
To use Bitcoin via the Bitcoin Hyper Layer 2, users will be able to swap their BTC for wrapped BTC via the project’s Canonical Bridge.
Plus, it integrates the Solana Virtual Machine (SVM) technology to bring scalable, fast smart contracts to Bitcoin’s ecosystem.
Once its ecosystem goes live, it could permanently transform the way investors use BTC as it will make microtransactions and payments fast and cost-effective. That means Bitcoin Hyper’s Layer 2 could see a rapid surge of Bitcoin-based DeFi protocols, NFTs, dApps, and other projects from day one.
At the heart of its ecosystem is HYPER, the project’s utility token. Holding HYPER will make those building on its Layer 2 eligible for grants and fee reductions. Plus, it could act as a key to holder-exclusive dApps and DeFi projects.
Investors can start accumulating HYPER at a discount during its presale, with the per-token price, currently at $0.0122, expected to increase every three days.
Praising its impressive early adoption rates, with the presale boasting $2.2 million raised, experts from 99Bitcoins believe it will surpass BTCBULL’s success with 10x post-launch gains.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.
