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Bitcoin Price Prediction As Wisconsin Buys $100 Million Of BlackRock’s BTC ETF And Investors Flock To This ICO With A 1,359% APY

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Bitcoin price
Bitcoin price

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The Bitcoin price is up 0.5% in the past 24 hours to trade for $62,340 as of 04:12 a.m. EST on trading volume that dipped 13%.

Despite multiple attempts to breakout, the Bitcoin price continues to consolidate within a descending parallel channel. There is, though, a clear attempt by BTC bulls to gain control, with the BTC price maintaining a sequence of higher lows since bottoming out on May 1.

Meanwhile, the State of Wisconsin is making the news for buying spot Bitcoin ETFs (exchange-traded funds).

The State of Wisconsin invested $164 million in spot Bitcoin ETFs (exchange-traded funds) in the first quarter as institutional interest in the king of cryptos grows.

The state’s investment board acquired 94,562 iShares Bitcoin Trust (IBIT) ETF shares worth about $100 million and $64 million worth of shares in the Grayscale Bitcoin Trust (GBTC), according to a filing with the US Securities and Exchange Commission (SEC).

According to Bloomberg Intelligence senior ETF analyst Eric Balchunas, this is a good sign, pointing to a growing interest for the investment product among institutional players.

Such revelations show that large TradFi funds continue to invest in spot BTC ETFs in the US. This is since their landmark approval on January 10 and subsequent launch the next day.

Bitcoin Price Prediction

The Bitcoin price is pushing toward recovery, shown by the higher lows as the price grinds above the ascending trendline. The same is seen on the Relative Strength Index (RSI), showing growing bullish sentiment.

If the RSI manages a higher high that moves it above the mean level of 50, the Bitcoin price could extend the climb. A move above the centerline of the Bollinger Band indicator at $62,186 would encourage more buy orders.

This could send BTC to the upper boundary of the descending trendline before confronting the upper band of the Bollinger indicator at $65,285. A candlestick close beyond this level would confirm a change in market structure in favor of the upside.

In a highly bullish case, the Bitcoin price could extend the climb to the $72,577. A stable close above this level would not only make the all-time high of $73,777 reclaimable, but also set the tone for a new peak price.

Bitcoin

GeckoTerminal: BTC/USD 1-day chart

Conversely, if selling pressure increases, the Bitcoin price would break below the support offered by the ascending trendline. This could see BTC slip below $60,457, where holders would be spooked, provoking panic selling.

Such an outcome could see the Bitcoin price roll over to provide another buying opportunity around the $56,000 level. This threshold was last tested on May 1.

Meanwhile, investors are flocking to 99BTC, a Learn-To-Earn crypto presale that is offering high rewards for early stakers.

According to Crypto Boy, a famous cryptocurrency YouTuber, the project has great potential and is currently offering affordable entry.

A Promising Alternative To Bitcoin

99Bitcoins is an educational platform with over 700,000 subscribers on its YouTube channel and more than two million people registered for the website’s courses. It uses a simplified approach by using interactive videos to make learning easy.

99Bitcoins intends to enhance the learning experience by the gamification of crypto education, as users who complete challenges and lessons earn higher rankings and $99BTC tokens as rewards.

It also integrates with BRC-20, which allows users to easily build dApps on the Bitcoin network.

Holders of 99BTC can also stake their tokens for an annual percentage yield (APY) of an impressive 1,359%. About 14% of the 99 billion token supply has been allocated for staking rewards.

Jacob Bury, a prominent crypto YouTuber, believes that 99BTC has the potential to turn $1K into $10K after launch.

You can buy 99BTC now for $0.00105. However, with a price hike coming in less than six days, buy quickly to lock in the best deal.

Visit and buy 99Bitcoins here.

Also Read:

99Bitcoins (99BTC) - New Learn To Earn Token

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99Bitcoins
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