Convergence

Shiba

Bitcoin

STARS

Coin

The Bitcoin price climbed by a fraction of a percent in the last 24 hours <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">to trade at $67,848</a> as of 03:18 a.m. EST on trading volume that plunged 24% to $37 billion.
This comes as Italy’s Deputy Finance Minister, Maurizio Leo, announced plans to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42% from 26%.
 Leo said extra revenue is needed to support public services and address the country’s budget shortfalls.
<h2 id="bitcoin-price-could-continue-soaring">Bitcoin Price Could Continue Soaring</h2>
The Bitcoin price is in a clear uptrend, making higher highs and higher lows since late September. There has been a breakout above a horizontal resistance level around the $66,000 mark, which now acts as support, according to data from <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">GeckoTerminal</a>.
There is a broader support zone between $57,500 and $60,000 marked by the yellow rectangle, which has been tested multiple times, making it a significant demand area.
BTC now trades above the 50-day and 200-day Simple Moving Averages (SMAs), supporting the general upward trend.
The Relative Strength Index (RSI) is at 71.19, which indicates that the asset is entering overbought territory (RSI above 70). This suggests that although the momentum is strong, there could be a potential pullback or consolidation as some traders might look to take profits.
Moreover, The Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), showing a strong bullish momentum.
<figure id="attachment_588284" aria-describedby="caption-attachment-588284" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-588284" src="https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19.png" alt="Bitcoin Price Chart Analysis Source: GeckoTerminal.com&nbsp;" width="1167" height="555" srcset="https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19.png 1167w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-300x143.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-1024x487.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-768x365.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-130x63.png 130w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-104x50.png 104w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-17_10-19-19-83x40.png 83w" sizes="(max-width: 1167px) 100vw, 1167px">
 <figcaption id="caption-attachment-588284" class="wp-caption-text">
 BTCUSD Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure>
<h2 id="bitcoin-price-prediction">Bitcoin Price Prediction</h2>
According to the Bitcoin price analysis, the price of Bitcoin is now surging as BTC crosses above the upper boundary of the sideways pattern. Both the RSI and MACD confirm the bullish sentiment.
If this momentum sustains, Bitcoin could soar to the next resistance level at $70,000.
While the market is trending upward, caution should be exercised due to the overbought RSI level. In case of a downtrend, BTC price could go through a correction back to the $62,400 support within the 200-day SMA.
Meanwhile, investors looking for alternative investment options may want to consider <a href="https://insidebitcoins.com/visit/cryptoallstars" rel="noopener noreferrer nofollow">Crypto All-Stars (STARS)</a>, an innovative new ICO that has raised over $2.4 million.
According to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, $STARS has the potential to soar 10X after its launch.
<iframe title="Crypto All Stars Prepare For 10x Gains Soon!" width="640" height="360" src="https://www.youtube.com/embed/1dpnX58pTbc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="crypto-all-stars-presale-heads-towards-3-million-best-meme-coin-to-buy-now">Crypto All-Stars Presale Heads Towards $3 Million – Best Meme Coin to Buy Now?</h2>
Crypto All-Stars is a breakthrough project that offers investors the chance to stake top meme coins on one platform.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Why Is Everyone Excited?
 In its initial presale phase, Crypto All-Stars raised over $350k! 💰
 This early success shows that investors see BIG potential here. 🚀
 Could this be the next <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>? 👀
 — web3telepath (@web3telepath) <a href="https://twitter.com/web3telepath/status/1824051738833260654?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 15, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Via its M͏emeVault protocol, investors will be able to stake 11 meme coins after the platform’s launch: Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk, with plans to add more in the coming months.
Investors can also stake STARS tokens to earn a stratospheric annual return of 617%.
STARS tokens are priced at $0.0015067 right now. But that will increase in less than 2 days, so act soon to lock in the best deal.
<a href="https://insidebitcoins.com/visit/cryptoallstars" rel="noopener noreferrer nofollow">Purchase $STARS from its official website here using BNB, USDT, or a bank card</a>.
<h2 id="related-news">Related News</h2>
<ul>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/bitcoin-wallets" rel="noopener noreferrer nofollow">10 Best Bitcoin Wallets for Beginners – Store Crypto Safely</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/buy-cryptocurrency/best-meme-coins" rel="noopener noreferrer nofollow">Best Meme Coins – Full List</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/bretts-price-surge-to-1b-market-cap-as-new-layer-2-meme-coin-pepe-unchained-breaks-20m-in-presale" rel="noopener noreferrer nofollow">$BRETT’s Price Surge to $1B Market Cap as New Layer-2 Meme Coin ‘Pepe Unchained’ Breaks $20M in Presale</a></li>
</ul>

Bitcoin Price Prediction: As Italy Plans Capital Gains Tax Hike On BTC To 42%, Traders Buy This ICO With A 617% Staking APY

Table of Contents

Inside Bitcoins

Other articles published on Oct 17, 2024

Donald Trump’s new crypto venture is a danger to the entire industry

Japan's Largest Telco NTT Digital Joins Injective as the Latest Validator

Secret Polygon Bridge Raises Suspicions, Did WTK Team Exploit Their Own Network?

Ethereum Implements Surge Update to Address Scalability Issues

Stripe to strengthen crypto ties with Bridge acquisition

Hyve launches data availability protocol, promises high throughput

Join our free newsletter for daily crypto updates!