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The Bitcoin price plunged almost 5% in the last 24 hours to trade at $67,187 as of 11:11 p.m. EST on trading volume that surged 57% to $47 billion.
The crash coincided with a drop in the U.S. stock market trading session after data indicated that inflation had accelerated for a third consecutive month. Analysts said stubborn inflationary pressures, geopolitical tensions, and the Fed’s quantitative tightening efforts threaten an otherwise positive economic outlook.
📈 Market Update: U.S. Stocks Decline Over 1% as Fed Takes Cautious Stance
In a volatile trading session on Thursday, the three major U.S. stock indexes experienced significant declines, with the S&P 500 marking its largest drop since mid-February. This downturn was fueled by…
— Lucia (@lucia722) April 5, 2024
Bitcoin Price Set For A Trend Reversal
The Bitcoin price is trading within the lower boundary of the symmetrical triangle pattern. It shows high potential for trend reversal, as it experienced a crash from the upper boundary.
BTC is trending over the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation that Bitcoin’s price will sustain its uptrend. Moreover, the 50-day crosses above the 200-day SMA, forming a golden cross around $30,000 on the 1-day chart, indicating that BTC could be on an uptrend for the long term.
The Relative Strength Index (RSI) trades slightly below the 50-midline level as it heads north. A sustained bullish stance could see the RSI cross above the equilibrium level to the 70-overbought region, indicating intense buying pressure.
Bitcoin Price Prediction – Bulls Aiming For New Highs Above $80,000
The Bitcoin price analysis on the 1-day chart shows a bullish bias as the price bulls aim to stage a breakout over the lower boundary of the symmetrical triangle, aiming to rally BTC to the upper boundary.
Additionally, the golden cross and the RSI provide bullish sentiments aimed at pushing the price over the $80,000 mark, registering new all-time highs (ATHs).
However, as the BTC price bulls aim for a reversal, some investors are diversifying their portfolios with 99Bitcoins, a new presale that aims to offer education about Bitcoin and other cryptocurrencies while incentivising learning.
99Bitcoins: Next BRC-20 Project To Explode?
99Bitcoins (99BTC), a leading crypto education platform known for simplifying the complexities of all things crypto, has ventured into the blockchain arena with its new learn-to-earn platform featuring its native token, $99BTC.
The 99Bitcoins YouTube channel has over 700,000 subscribers, with more than 2 million people registered for the website’s courses. Venturing into the ICO launch aims to transition the website to Web3 through the $99BTC token, which promises an engaging earn-as-you-learn experience for website users.
What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
The 99BTC token will start as an ERC-20 asset and then bridge to BRC-20. It has raised over $218K in its presale in less than three days, showcasing investors’ interest in this decentralized crypto education platform.
The launch of the 99Bitcoins token is strategically timed ahead of the Bitcoin halving, aiming to capitalize on the hype around the event and positioning for what history shows is a very likely post-halving rally.
With the #BitcoinHalving event just 9 days away, speculation is mounting: Is $BTC's price set to skyrocket post-halving? 👀
Dive into our analysis on the potential price impact of this pivotal supply shock.
Read more: https://t.co/zTA3n26nDl#99Bitcoins #Halving #BullMarket
— 99Bitcoins (@99BitcoinsHQ) April 11, 2024
You can also earn passively by staking $99BTC for an impressive 13,453% annual percentage yield (APY).
The 99Bitcoins YouTube channel itself believes that the $99BTC price has the potential to soar 10X after launch.
$99BTC tokens are priced at $0.001 each right now, but there will be a price hike in three days.
To participate in the presale, buy $99BTC from the official website here. You can use ETH, USDT, or a bank card to make a purchase.
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