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The Bitcoin price has climbed almost 2% in the past 24 hours to trade for $62,774 as of 01:45 a.m. EST.
According to analysts at Coinglass, if the bulls are able to haul BTC back above the $63,000 threshold, it would induce strength among altcoins.
#Crypto Market RSI Heatmap（4H）
Most altcoins are currently in a neutral .
If #Bitcoin breaks above 63,000, altcoins will be stronger.
👉https://t.co/nM8AMjt8L6 pic.twitter.com/9vjcibufeG
— CoinGlass (@coinglass_com) May 10, 2024
Elsewhere, Glassnode researchers say that the Bitcoin price has recorded the deepest correction on a closing basis since the FTX lows in November 2022. Despite holding over 20% below its $73,777 peak, the same analysts say that this macro uptrend still appears to be one of the most resilient in history.
Measured from the $73k ATH, #Bitcoin prices corrected by -20.3%, which is the deepest correction on a closing basis since the FTX lows in Nov-2022.
That said, this macro uptrend still appears to be one of the more resilient in history, with comparatively shallow corrections… pic.twitter.com/8WvCOGBV2R
— glassnode (@glassnode) May 9, 2024
Meanwhile, Twitter (now X) co-founder Jack Dorsey says that BTC will be worth “at least a million” by 2030, adding that it could go beyond that. Dorsey made this super-bullish prediction on May 9 during an interview on Pirate Wires.
Bitcoin Price Prediction
The Bitcoin price has slipped below the centerline of the Bollinger band indicator as shown on GeckoTerminal chart for the WBTC/USD trading pair, suggesting increasing volatility towards the downside. The position of the relative Strength Index (RSI) below the mean level of 50 shows that the market may be primed for further downside before a correction. Notice the Awesome Oscillator (AO) is also still in negative territory, tilting the odds further in favor of the downside.
If selling pressure increases, the Bitcoin price could slip below the lower band of the Bollinger indicator at $59,076. Such a directional bias could see the Bitcoin price extend the fall to $57,829, or in a dire case, provide another buying opportunity around the $50,000 psychological level.
WBTC/USD 1-day chart
On the other hand, if the bulls recover the market, the Bitcoin price could activate the falling wedge pattern. This would mean a bullish reversal to the 20% target objective of the technical formation. This target is measured by adding the maximum distance between the upper and lower trend lines to the expected breakout point.
Meanwhile, investors are flocking to 99BTC, a learn-to-earn platform that features among the top five meme coins to buy in May, according to Crypto YouTube channel 99Bitcoins.
It’s already raised upwards of $1.168 million in its presale.
Promising Alternative To Bitcoin
99Bitcoins is a long-established educational platform that traces back to 2013, four years after Bitcoin’s 2009 launch, and two before Ethereum arrived.
Starting out as BitcoinWithPayPal.com, It’s transitioning to Web3 with its $99BTC token. 99Bitcoins promises a groundbreaking earn-as-you-learn experience for users of the website.
🌟📚 Start Your $99BTC Journey with Our Free Crash Course! 🌟🎓
Over 100,000 students have enjoyed our course, receiving daily emails with essential $BTC alpha. ✅
From over 750 participants, it’s designed to be short, sweet, and super educational!
👉 https://t.co/PepIrsQGUi pic.twitter.com/UohphNbGbS
— 99Bitcoins (@99BitcoinsHQ) April 29, 2024
99Bitcoins incentivizes learning through a unique mix of gamification and a leaderboard reward system. This ensures users feel like their learning is bearing tangible and therefore spendable benefits. You basically earn crypto while learning about crypto.
Exclusive access to advanced modules is available for $99BTC token holders. 🏆
Dive into topics from sophisticated trading strategies to in-depth #Blockchain technology applications.
Join the #Presale now!
👉 https://t.co/NXD7DAamqr#99Bitcoins #Bitcoin #CryptoNews pic.twitter.com/M5p0dtDc9f— 99Bitcoins (@99BitcoinsHQ) April 28, 2024
Out of a total of 99 billion 99BTC tokens, 15% have been set aside to be sold over the course of a fourteen-round presale. The objective is to raise the funds required to expedite cutting-edge development around the project’s BRC-20 integration.
Our #Learn2Earn platform is at the heart of our mission to educate. 🤝
You’ll be able to dive into a wide array of topics, from #Blockchain basics to advanced trading strategies, all while unlocking rewards!
Discover More: https://t.co/NXD7DAamqr#99Bitcoins #CryptoNews $BTC pic.twitter.com/l9sjDsjOAb
— 99Bitcoins (@99BitcoinsHQ) April 27, 2024
Buyers can stake 99BTC tokens for an annual return of 1,476%. So far, upwards of 737 million 99BTC tokens have been staked.
The 99BTC token is currently selling for $0.00104, but with a price increase coming in about four days, buy soon if you are interested.
Visit and buy 99Bitcoins here.
Also Read:
99Bitcoins (99BTC) – New Learn To Earn Token
- Audited By Solid Proof
- Established Brand – Founded In 2013
- Free Airdrop – Win A Share Of $99,999
- Learn To Earn – Get Paid To Complete Trading Courses
- 700,000+ YouTube Community
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