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The Bitcoin price dropped 1% in the last 24 hours to trade at $67,767 as of 02:35 a.m. EST on trading volume that soared 60% to $29 billion.
This decline follows the movement of 107,547 BTC, worth nearly $7.3 billion from wallets associated with the collapsed crypto exchange Mt.Gox. This activity precedes the exchange’s plans to return BTC holdings to creditors before October.
Mt.Gox owes over $9.4 billion to 127,000 creditors, who have been on hold for more than ten years after its collapse in 2014.
In the last two months, the Bitcoin price has been fluctuating within the symmetrical triangle, as the bulls aimed to push the price above the upper boundary of the triangle, data from GeckoTerminal shows.
In May, BTC was able to breach the upper boundary of the triangle, rising to the $72,253 resistance. After the news, BTC has been on a retrace to the current price, touching the upper boundary.
Bitcoin Price Set For A Bullish Rally Over The Symmetrical Triangle
The Bitcoin price trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), an indication of the token’s price upward potential.
Moreover, the Relative Strength Index (RSI) trades above the 50-midline level, currently at 53 as it moves up. A sustained bullish stance could push the RSI over to the 70-overbought region, which indicates intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, as the blue MACD line crosses above the orange signal line. Retail investors could capitalize on the bullish crossover to add to their buying positions, which could potentially propel BTC to new highs.
The green bars on the histogram also extend above the neutral line, which shows that BTC is moving with positive momentum.
Bitcoin Price Prediction – BTC Bulls Aiming For $90,000
The Bitcoin price long-term analysis shows that the bulls are gearing up for a bullish rally over the symmetrical triangle as they target $90,000.
The main indicators, including the RSI and MACD, signal open buying positions for optimistic investors, which could prompt a bullish rally.
However, the MACD indicates that buyers are in profits, which could prompt a sell-off by the bears. If the bears exert pressure at this level, BTC could retrace back to the $60,900 support level.
Meanwhile, as the BTC price soars, some investors are also buying $99BTC, which has already raised more than $1.6 million.
According to Jacob Bury, a prominent crypto YouTuber, $99BTC has the potential to turn a $1K investment into $10K after its launch.
99Bitcoins Presale Surges Past $1.6 Million In Funding
Since its launch in 2013, 99Bitcoins (99BTC) has become a pillar of crypto education. At first, the platform was focused on detailed guides for trading, wallets, and earning crypto, but has since undergone a significant transformation.
The platform has over 2 million registered users for its courses and more than 700,000 subscribers on its YouTube channel.
With the introduction of its $99BTC token ICO, the project fuels a groundbreaking learn-to-earn (L2E) model. 99Bitcoins is gamifying crypto education by allowing 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
The project also integrates with BRC-20, which allows the building of dApps on the Bitcoin Network.
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
But many token holders are lured to the project by its staking model, which offers a stunning 1,001% annual percentage yield (APY).
You can buy 99BTC tokens for $0.00107 each. With a price hike coming in less than seven days, 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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