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The Bitcoin price surged 3% in the last 24 hours to trade at $69,305 as of 00:32 p.m. EST on trading volume that dropped 40% to $21 billion.
This comes as the University of Wyoming prepares to make significant strides in cryptocurrency research with the launch of the Bitcoin Research Institute (BRI).
Scheduled to open next month, the institute aims to provide high-quality, peer-reviewed studies on Bitcoin, which will position the BRI as a crucial resource for both academic and public understanding of the technology.
ANNOUNCEMENT: The University of Wyoming has established the UW Bitcoin Research Institute. https://t.co/qDuYZGmnxo
The BRI aims to produce high-quality peer-reviewed publications about bitcoin from all academic disciplines.
First act: hiring @resistancemoney!
1/
— ₿radley Rettler (@rettlerb) July 28, 2024
Bradley Rettler, a Bitcoin activist and Associate Professor at the University of Wyoming, will serve as the institute’s director.
According to Rettler, the industry needs more high-quality peer-reviewed publications, ensuring that the public is informed about Bitcoin and how it works.
Bitcoin Price To Continue With The Bullish Trend Over $70,000
The Bitcoin price has been in a tear in the last two weeks with an 11% surge. However, on Jul 25, BTC took a slight tumble to the $64,000 support level before rebounding to cross the $69,000 resistance yesterday, according to data from GeckoTerminal.
The price movements over the past four days have formed an ascending triangle pattern, with the price of Bitcoin already retrying the upper boundary of the triangle.
BTC price also trades above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the sustained bullish momentum to the upside.
Moreover, the Relative Strength Index (RSI) line indicates that the asset is under intense buying pressure, as it hurtles towards the 70-overbought region, currently at 63.
The Moving Average Convergence Divergence (MACD) could encourage the buying action, as the MACD lines trade above the neutral line. The blue MACD line also crosses above the orange signal line, indicating a bullish crossover, which could encourage buyers to take more positions.
Bitcoin Price Prediction
According to the Bitcoin price analysis on the 1-hour chart, BTC is currently on strong bullish momentum. The bulls aim to push the token further above the ascending triangle, targeting $72,000.
The RSI and MACD show strong buying positions from investors, which could be a bullish factor for the BTC price.
However, if the bears take control of the price at this level, the price of Bitcoin could retrace to $66,565 (200-day SMA), which acts as a cushion against downward pressure in the short term.
Meanwhile, other investors are rushing to buy the new 99Bitcoins (99BTC) presale with only 8 days left until it closes.
99Bitcoins Presale Raises Over $2.5 Million – Buy Now Before Presale Ends On August 6
The 99Bitcoins platform has become a crucial resource for newcomers navigating the complexities of the crypto world, especially with the recent surge in its popularity. The platform has over 2 million registered users for its courses and more than 700,000 subscribers on its YouTube channel.
Its latest innovation is the launch of its ICO, which is fueling a groundbreaking Learn-to-Earn (L2E) model. The project is set to gamify crypto education by allowing its users to tackle challenges and complete lessons to earn higher rankings and rewards through $99BTC tokens.
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
99Bitcoins is set to launch its token initially as an ERC-20 token but will integrate it later into the Bitcoin network using the BRC-20 token standard.
Introducing $99BTC on BRC-20! 🎓
Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.
We're launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌
— 99Bitcoins (@99BitcoinsHQ) April 30, 2024
Buy And Stake $99BTC For 675% Annual Return
Token holders can also earn passively from the project’s staking option, which offers an annual percentage yield (APY) of 675%.
Influential crypto YouTuber Jacob Bury says that the 99Bitcoins token could turn a $1K investment into $10K after its launch.
You can buy $99BTC tokens now for $0.00115 each. With a price hike in about one day, buy soon to lock in the best deal.
To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.
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