As of 02:10 a.m. EST, the price of Bitcoin was $64,252—a slight decrease of 1%—on trading volume of $35.2 billion, a decrease of 27%.
This comes as the block height of 840,000 marked the beginning of the quadrennial Bitcoin halving event. As speculators sought to mint new digital tokens following the launch of the Runes protocol, there was a frenzy on the Bitcoin blockchain. This caused the average transaction fee per block to rise to as high as 18.62 BTC.
High-priority transactions cost approximately $170, while medium-priority transactions cost $146.
Since November, the price of Bitcoin has been rising, with bulls maintaining their bullish momentum to push the price to new highs. BTC, on the other hand, surged to a new all-time high (ATH) of $73,737 in January of this year.
BTC has been fluctuating within this range, forming a bullish pennant pattern. Around $62,200, the bulls have found stable support. The goal of this support is to get the price closer to the top of the bullish pennant.
The fact that the price of Bitcoin is currently trading above the Simple Moving Average (SMA) of 200 days is evidence of the bullish potential to the upside. The price could eventually surpass the 50-day simple moving average if a bullish outlook is maintained, indicating another leg up above $63,398.
In addition, the Relative Strength Index (RSI) is returning to the 45-midline level from the 30-oversold levels, indicating a lot of buying pressure.
BTC bulls are staging a bullish trend reversal at the $62,200 support level, with the goal of pushing the price over the upper boundary and toward $85,000, according to the Bitcoin price prediction.
The bullish sentiment is bolstered by the RSI and the $28,142 golden cross.
BTC, on the other hand, could retrace to the next support at around $47,300, which coincides with the 200-day SMA, if the bears put on more pressure to break the critical support level at $60,000
Investors are also looking to purchase $99BTC, a platform that rewards users for learning about cryptocurrencies, as the BTC bulls continue to push the price.
The Crypto ICO 99Bitcoins Hits $570K — What’s the Best Bitcoin Alternative Right Now?
The 99Bitcoins (99BTC) platform has established itself as a model for crypto education by combining an easy-to-understand teaching strategy with engaging videos to make learning about the blockchain sector enjoyable and simple.
The YouTube channel of 99Bitcoins has more than 700,000 subscribers, and more than two million people have registered for the website’s courses. With the upcoming Bitcoin halving, more people than ever are interested in learning how to invest wisely in cryptocurrencies.
The 99Bitcoins ICO aims to establish a decentralized platform where individuals can acquire knowledge of cryptocurrencies and earn tokens by utilizing that knowledge.
Gamification and a leaderboard-based reward system are used in conjunction in the Learn-to-Earn model to give students the impression that their education is yielding monetary (spendable) rewards. Simply put, users acquire cryptocurrency while learning about it.
Different learning resources, such as interactive learning modules, quizzes, and tutorials, contribute to the gamification aspect. A user’s 99Bitcoins ranking increases as a result of successfully completing these challenges; consequently, the payout is proportional to the user’s ranking.
99BTC will transition to the BRC-20 token standard after its initial launch as an ERC-20 cryptocurrency. After that, it will join the expanding ecosystem of projects based on the Bitcoin blockchain.
Additionally, 99Bitcoins is conducting a massive airdrop of Bitcoin worth $99,999. Only early supporters who adhere to the official website’s instructions will be eligible for this.
Three people who follow, retweet, or sign up on the website will be eligible to win a second giveaway worth $9,999 Bitcoin.
Additionally, there is a staking mechanism that provides a 3,385% annual percentage yield.
Jacob Bury, a crypto analyst and YouTuber, claims that after launch, 99BTC can turn a $1000 investment into $10,000.
As it moves closer to its stage goal of $1.1 million, the project has already raised more than $578,500 in ten days.
Currently, you can purchase $99 BTC for $0.00101 per token. In about three days, the price will go up, so if you’re interested, buy it now.
You can purchase $99 BTC from the official website here to participate in the presale. A bank card, ETH, or USDT are all options.