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The Bitcoin price dropped a fraction of a percent in the last 24 hours to trade at $64,252 as of 02:10 a.m. EST on trading volume that dropped 27% to $35.2 billion.
This comes as the quadrennial Bitcoin halving event was triggered at the block height of 840,000. With the launch of the Runes protocol, there has been a frenzy on the Bitcoin blockchain as speculators sought to mint new digital tokens, resulting in the average transaction fee per block surging to as high as 18.62 BTC.
Medium-priority transactions are costing $146, with high-priority transactions rising to around $170.
Bitcoin Price Gears For A Bullish Rally Over The Bullish Pennant
The Bitcoin price has been on an upward trajectory since November, with the bulls sustaining the bullish momentum to push the price to new highs. However, from January of this year, BTC rose dramatically to a new all-time high (ATH) of $73,737.
BTC has been fluctuating within this range, forming a bullish pennant pattern, with the bulls finding stable support around $62,200. This support aims to push the price toward the upper boundary of the bullish pennant.
The Bitcoin price is trading above the 200-day Simple Moving Average (SMA), a confirmation of the bullish potential to the upside. A sustained bullish stance could eventually push the price over the 50-day SMA, indicating another leg up above $63,398.
Additionally, the Relative Strength Index (RSI) is rebounding from the 30-oversold levels towards the 50-midline level at 45, signaling intense buying pressure.
Bitcoin Price Prediction – Bulls Targeting $85,000
The Bitcoin price analysis shows that the BTC bulls are staging a bullish trend reversal at the $62,200 support level, aimed at pushing the price over the upper boundary, targeting $85,000.
The RSI and the golden cross at $28,142 support the bullish sentiment.
However, if the bears exert more pressure to breach the critical support level at $60,000, BTC could retrace to the next support at around $47,300, coinciding with the 200-day SMA.
Meanwhile, as the BTC bulls continue to push the price, investors are also looking to buy $99BTC, a platform that rewards users for learning about crypto.
99Bitcoins Crypto ICO Blasts Past $570K – Best Bitcoin Alternative To Buy Now?
The 99Bitcoins (99BTC) platform has been a beacon in crypto education, using a simplified approach with interactive videos to make learning about the blockchain space easier and fun.
99Bitcoins has over 700,000 subscribers on its YouTube channel and over two million people registered for the website’s courses. With Bitcoin halving already here, more individuals than ever are interested in gaining the knowledge to invest wisely in crypto.
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
The 99Bitcoins ICO aims to create a decentralized platform where people can learn about cryptocurrencies and leverage their education to earn tokens.
The Learn-to-Earn model uses a combination of gamification and a leaderboard reward system to make users feel like their learning is bearing tangible (spendable) benefits. Simply, users earn crypto while learning about crypto.
The gamification aspect comes about through different learning resources, including interactive learning modules, quizzes, and tutorials. Successful completion of these challenges raise a user’s 99Bitcoins ranking, so the higher the ranking, the greater the payout.
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
Initially launched as an ERC-20 crypto, 99BTC will be bridged to the BRC-20 token standard and then join the growing ecosystem of projects built on the Bitcoin blockchain.
99Bitcoins is also running a massive airdrop for $99,999 worth of Bitcoin. This will only be for early supporters who follow instructions on the official website.
There’s also another giveaway worth $9,999 Bitcoin for three participants for either following, retweeting, or signing up on the website.
There is a staking mechanism, too, that offers an an annual percentage yield of 3,385%.
Crypto analysts and YouTuber Jacob Bury says 99BTC can turn a $1k investment into $10k after launch.
The project has already amassed over $578K in funds raised in 10 days as it hurtles toward the stage target of $1.1 million.
You can buy $99BTC now for $0.00101 per token. There will be a price increase in about three days, so buy soon if you are interested.
To participate in the presale, you can buy $99BTC from the official website here. You can use ETH, USDT, or a bank card.
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