{"id":560634,"date":"2024-08-05T08:54:51","date_gmt":"2024-08-05T08:54:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=560634"},"modified":"2024-08-05T08:54:51","modified_gmt":"2024-08-05T08:54:51","slug":"bitcoin-price-prediction-btc-plummets-10-as-investors-turn-to-this-learn-to-earn-crypto-and-its-657-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-plummets-10-as-investors-turn-to-this-learn-to-earn-crypto-and-its-657-apy","title":{"rendered":"Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">&nbsp;<\/span><span style=\"font-weight: 400;\">The Bitcoin price plunged 10% in the last 24 hours <\/span><a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\"><span style=\"font-weight: 400;\">to trade at $53,987<\/span><\/a><span style=\"font-weight: 400;\"> as of 00:44 p.m. EST on trading volume that surged 96% to $53 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This comes amid a crypto crash triggered by a rate hike in Japan that spooked investors, triggering the panic selling of riskier assets<\/span><span style=\"font-weight: 400;\">. Overall, cryptocurrencies sank by about $570 billion, according to data from <\/span><a href=\"https:\/\/www.coingecko.com\/\"><span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The sell-off witnessed in the crypto market coincides with the broader slide in equities in Asia-Pacific markets and with the U.S. Nasdaq sliding 3.4% last week into correction territory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The stock crash is partly tied to disappointing economic data in the US, including earnings, a weaker-than-expected jobs report, higher unemployment, and a declining manufacturing sector.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The price of Bitcoin is now trading at its lowest since February, having plummeted to below $54,000.<\/span><\/p>\n<h2>Bitcoin Price Aims For A Bullish Trend Reversal<\/h2>\n<p><span style=\"font-weight: 400;\">The Bitcoin price has been on a downtrend in the last week, plunging 24%, within a falling channel pattern, according to data from <\/span><a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\"><span style=\"font-weight: 400;\">GeckoTerminal<\/span><\/a><span style=\"font-weight: 400;\">. Bitcoin dropped below the channel&rsquo;s lower boundary today to touch the $50,000 mark before rebounding to the current price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Major BTC indicators show that the price of Bitcoin is currently on a bearish trend, with the token trading below both the 50-day and 200-day Simple Moving Averages (SMAs). The SMAs now act as the immediate resistance zone at $60,394 and $65,159.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the Relative Strength Index (RSI) has dropped below the 30-oversold level on the 1-hour chart, currently trading at 19. This indicates that sellers have an upper hand, with the asset now being undervalued.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the bearish stance continues, the price of Bitcoin could drop further to the $49,000 support level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, the bulls could use this opportunity of the asset being undervalued to start buying, which could push BTC up, breaching the $60,394 and $65,159 resistance zones. In this scenario, the bulls could be targeting prices above the $67,000 resistance level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">BTCUSD Chart Analysis Source: GeckoTerminal.com<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, as Bitcoin bulls run for cover, investors are still buying into the <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\"><span style=\"font-weight: 400;\">99Bitcoins (99BTC)<\/span><\/a><span style=\"font-weight: 400;\"> presale before it concludes tomorrow, August 6, at 9.30 a.m. UTC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Jacob Bury, a prominent crypto YouTuber, 99BTC has the potential to turn $1K into $10K after launch.<\/span><\/p>\n<p><iframe title=\"New 10x Potential Crypto Presale 99Bitcoins - Flip $1k into $10k?!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/G2trqq3KNYE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>99Bitcoins Presale Raises Over $2.62 Million &ndash; Last Chance To Buy<\/h2>\n<p><span style=\"font-weight: 400;\">The 99Bitcoins platform is a pillar of crypto education and has over 2 million registered users for its courses and more than 700,000 subscribers on its YouTube channel. It helps crypto fans navigate the complexities of the industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The project is now set to gamify crypto education by allowing its users to tackle challenges and complete lessons to earn higher rankings and rewards through $99BTC tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Token holders can also earn passively from<\/span> <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\"><span style=\"font-weight: 400;\">the project&rsquo;s staking option<\/span><\/a><span style=\"font-weight: 400;\">, which offers a whopping annual percentage yield (APY) of 657%.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">How many of these bad boys will <a href=\"https:\/\/twitter.com\/PeterSchiff?ref_src=twsrc%5Etfw\">@PeterSchiff<\/a> be popping? &#128138;<a href=\"https:\/\/twitter.com\/hashtag\/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw\">#99Bitcoins<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CryptoCurrency?src=hash&amp;ref_src=twsrc%5Etfw\">#CryptoCurrency<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/t.co\/yIEeuGsSdx\">pic.twitter.com\/yIEeuGsSdx<\/a><\/p>\n<p>&mdash; 99Bitcoins (@99BitcoinsHQ) <a href=\"https:\/\/twitter.com\/99BitcoinsHQ\/status\/1794684946453262569?ref_src=twsrc%5Etfw\">May 26, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">You can buy $99BTC tokens for $0.00116 each before the presale ends in just one day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To join the presale,<\/span> <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\"><span style=\"font-weight: 400;\">buy $99BTC from the official website here<\/span><\/a><span style=\"font-weight: 400;\"> using ETH, USDT, or a bank card.<\/span><\/p>\n<h2>Related News<\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye\"><span style=\"font-weight: 400;\">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-meme-coins-invest-top-picks-exponential-gains-calsona-iorle\"><span style=\"font-weight: 400;\">Best Meme Coins to Invest in: Top Picks for Exponential Gains! &#128640;<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-price\/bitcoin-price\/\"><span style=\"font-weight: 400;\">Bitcoin (BTC) Price &amp; Future Predictions<\/span><\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">&nbsp;The Bitcoin price plunged 10% in the last 24 hours to trade at $53,987 as of 00:44 p.m. EST on trading volume that surged 96% <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-plummets-10-as-investors-turn-to-this-learn-to-earn-crypto-and-its-657-apy\" title=\"Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY\">[&#8230;]<\/a><\/div>","protected":false},"author":1907,"featured_media":560151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-560634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"\u00a0The Bitcoin price plunged 10% in the last 24 hours to trade at $53,987 as of 00:44 p.m. EST on trading volume that surged 96% to $53 billion. This comes\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-05T08:54:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Gaming.net-2024-08-03T095010.848.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evans Karanja\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nmivanco\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Evans Karanja\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634\"},\"author\":{\"name\":\"Evans Karanja\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/72acfe14b9166e2ecc820938305f46b6\"},\"headline\":\"Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY\",\"datePublished\":\"2024-08-05T08:54:51+00:00\",\"dateModified\":\"2024-08-05T08:54:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634\"},\"wordCount\":544,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Gaming.net-2024-08-03T095010.848.jpg\",\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634\",\"name\":\"Bitcoin Price Prediction: BTC Plummets 10% As Investors Turn To This Learn-To-Earn Crypto And Its 657% APY - InsideBitcoins.com\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/560634#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Gaming.net-2024-08-03T095010.848.jpg\",\"datePublished\":\"2024-08-05T08:54:51+00:00\",\"dateModified\":\"2024-08-05T08:54:51+00:00\",\"description\":\"\u00a0The Bitcoin price plunged 10% in the last 24 hours to trade at $53,987 as of 00:44 p.m. EST on trading volume that surged 96% to $53 billion. 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