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The Bitcoin price rose 2% in the last 24 hours to trade at $57,716 as of 01:20 a.m. EST on trading volume that plunged 14% to $24 billion.
This comes after it was announced that Donald Trump will speak at the the Bitcoin 2024 Conference in Nashville later this month. Trump will speak at 2 p.m. CT for 30 minutes on the last day of the conference, which runs from July 25-27.
Trump has in recent times pivoted to pro-Bitcoin policies, and even said he will be ”crypto president” if he beats Joe Biden in November’s elections.
DONALD TRUMP TO SPEAK AT BITCOIN 2024 CONFERENCE IN NASHVILLE pic.twitter.com/0qjyUO54VA
— Dylan LeClair 🟠 (@DylanLeClair_) July 10, 2024
The news offers hope for Bitcoin’s recovery after a 15% slump over the past month, primarily due to selling pressure from Bitcoin mining operators, Mt. Gox refunds, and a selling spree by Germany.
The bears may have capitalized on the formation of the double top pattern, driving the token below the $59,856 support zone, according to data from GeckoTerminal.
Bitcoin Price Bearish, Could The Bulls Stage A Trend Reversal?
The Bitcoin price still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate resistance levels at $64,724 and $58,978 respectively.
The Relative Strength Index (RSI) still trades within the oversold region, currently at 38, which shows that the token is still undervalued.
If the bears continue to capitalize on the double top pattern, the price of Bitcoin may retrace further in the coming days, likely to drop to the next strong support at $40,960.
However, with the token being undervalued, investors may start taking more buying positions, which may likely prompt some buying pressure. In such a scenario, our Bitcoin price prediction shows that it may soar over the current resistance, targeting the next resistance at $64,724.
Meanwhile, investors are also buying into the 99Bitcoins (99BTC) presale, which has amassed over $2.3 million in funding.
Jacob Bury, a prominent crypto analyst on YouTube, says that the 99Bitcoins token could potentially surge 10X after its launch.
99Bitcoins Presale Surges Past $2.3 Million – Best BTC Alternative
Since its inception into the crypto space, 99Bitcoins has become a pillar of crypto education. The platform has over 2 million registered users for its courses and more than 700,000 subscribers on its YouTube channel.
The introduction of its $99BTC token has fueled a groundbreaking learn-to-earn (L2E) model. 99Bitcons aims at 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
99Bitcoins also merges with BRC-20, making it easier for developers to build apps 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
Investors can also earn passively through the project’s staking model, which offers an impressive 704% annual percentage yield (APY).
The $99BTC token costs $0.00113. With a price hike coming in about 5 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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