Bitcoin Price Prediction: As Hong Kong Bitcoin ETF Approvals Near, Traders Turn To BTC's Top Learn-To-Earn Platform For Explosive Potential Gains

Bitcoin Price Prediction: As Hong Kong Bitcoin ETF Approvals Near, Traders Turn To BTC’s Top Learn-To-Earn Platform For Explosive Potential Gains

BySteven Walgenbach

Updated: 12 April 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Bitcoin price jumped more than 4% in the last 24 hours to trade at $70,770.59 as of 8:45 a.m. EST as investors rush to buy BTC before the halving event.

Investors might also be rushing to scoop up BTC before the approval of spot Bitcoin ETFs (exchange-traded funds) in Hong Kong, which are expected to be approved later this month.

China’s Harvest Fund Management Co.’s international arm is likely to be the first firm to gain regulatory approval, Bloomberg reported.

The Bitcoin Price Gets Rejected By Resistance

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price was rejected by the $71,047.20 resistance level in the past 12 hours, resulting in the market leader printing a lower high and the formation of a descending trend line. Sellers are still exerting pressure on the leading crypto, which is evident by the wicks present above the latest 4-hour candles.

If bears keep applying pressure on the Bitcoin price, it could be at risk of falling to the immediate support level at $68,857.98 in the following 24 hours. Continued sell volume should BTC reach this support level might then lead to the crypto dropping to as low as $67,482.14 in the short term.

A 4-hour candle close above $71,047.20 could invalidate the bearish thesis. In this alternative scenario, traders may enter into long positions for BTC, which could push it up to the subsequent barrier at $72,771.91.

Bulls And Bears Battling It Out To Take Control Of The Bitcoin Price

Technical indicators on BTC’s 4-hour chart are currently sending mixed signals. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are on the verge of triggering contradicting technical flags.

On one hand, BTC is attempting to bring an end to its negative trend and enter a fresh bullish cycle. This is evident by the MACD line that is trying to cross above the MACD Signal line. Meanwhile, the RSI is collapsing towards its Simple Moving Average (SMA) line on the 4-hour chart. Although the RSI being positioned above the SMA signals that buyers have the upper hand against sellers, the narrowing gap between the two lines suggests that bears might soon steal back the advantage.

It’s not over yet for bulls. With the halving approximately a week away, traders might begin to accumulate the market leader before it becomes increasingly harder to come by. This could introduce a wave of buy pressure that will elevate the Bitcoin price in the upcoming days.

After the halving, investors will likely turn to tokens that are Bitcoin derivatives while also flocking to any opportunities to receive free crypto.

99Bitcoins, through its learn-to-earn initiative, could be one of the main projects that the crypto community will turn to.

A Win-Win Situation For The Crypto Community

99Bitcoins has established itself as one of the most popular websites and blogs relating to the market leader. Over 700k people have subscribed to its YouTube channel, while more than 2 million people have registered for the website’s courses.

Since its launch in 2013, 99Bitcoins has been able to break down the complex technical aspects of Bitcoin into laymen’s terms.

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

In 2014, the website expanded its offerings by adding tutorials for cryptos other than Bitcoin. Now, the website’s team is looking to be a pioneer in the nascent learn-to-earn space, with the launch of the 99BTC token.

Along with the token, there will be a comprehensive curriculum of courses that cater to all types of learning styles. Both newbies and crypto veterans will have the opportunity to refine their crypto knowledge while earning 99BTC tokens in the process.

Holders Will Gain Access To Exclusive Content And Platform Rewards

Anyone who buys 99BTC will gain access to the project’s staking rewards, as well as unlock additional trading courses, exclusive trading webinars, and gain access to Vip Community Groups that provide trading signals and strategies.

Holders will also be able to redeem their 99BTC tokens for discounts on partner products and exclusive access to premium content.

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

Investors are flocking to the project’s presale, pouring more than $131k into it during its first day. Given the token’s price is set to increase in subsequent phases of the presale, anyone looking to get in on the crypto at this early stage might want to hurry.

Selling for just $0.001, 99BTC can be bought using either ETH, USDT, BNB or bank card.

Investors can unlock access to premium content and additional courses by purchasing 99BTC here.