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The value of Bitcoin has recorded a slight gain in the last 24 hours for the market at $67,728. 33 at 7:55 a. m. EST, as some investors identify the cryptocurrency’s existing levels as a buying opportunity.
— Michael Saylor⚡️ (@saylor) June 13, 2024
A wave of institutional capital could soon give BTC’s value a boost after MicroStrategy announced plans to offer $500 million in convertible senior notes to qualified institutional investors.
The majority of the proceeds from the offering will be used to obtain more Bitcoin, according to a press release.
BTC/USDT 4-hour chart (Source: TradingView)
Bitcoin’s value was able to break above a medium-term negative trendline that appeared on its 4-hour chart. However, traders were quick to push the value of the leading cryptocurrency below this trendline in the last 24 hours. This also caused BTC to drop below the $67,970 support.
Now, the value of Bitcoin is looking to reclaim a position above $67,970. Buyers have entered the crypto’s charts, as evidenced by the wicks provided under the last 3 4-hour candles. If BTC closes a 4-hour candle above this mark in the next 12 hours, BTC may have the technical basis to challenge the negative trendline.
If Bitcoin price manages to break above the trendline, it could try to rally to $70,195. If BTC manages to break above this resistance, continued buying volumes could lead the cryptocurrency to reach $71,800 in the near term.
The bullish thesis may simply be invalidated if Bitcoin’s value is rejected through the $67,970 threshold. In this election scenario, BTC may simply drop to the indicated point at $66,085 over the next 48 hours.
The technical signs on BTC’s 4-hour chart recommend that the cryptocurrency has the necessary client to rise above $67,970. Specifically, the convergence and divergence signs of the moving average (MACD) and the relative strength index (RSI) are showing bullish signs.
The bulls also have slight credit over the bears, as indicated by the RSI’s position above its moving average (SMA) line. Buyer strength is also on the upside, as evidenced by the definitely sloping RSI line.
Meanwhile, the MACD line is located above the MACD sign line on the 4-hour chart. Traders identify the former above the latter as an indication that a cryptocurrency is in a positive cycle in the short term.
If the technical signs presented through the RSI and MACD signs are validated, the value of Bitcoin could soon surpass $67,970. Conversely, a rejection may cause BTC to print a lower high before potentially falling in the near term.
As BTC looks to reclaim $67,970 and MicroStrategy prepares to buy more Bitcoin, investors may also flock to 99Bitcoins (99BTC).
99Bitcoins is an established educational platform that has broken down complex terms in the Web3 area for thousands of people over the years. Now, the team will expand the project’s offerings by launching its own cryptocurrency.
With the 99BTC token, 99Bitcoins aims to revolutionize cryptocurrency education through a cutting-edge model for learning how to earn. Instead of passively eating content, users of the platform will be able to earn cryptocurrency by honing their knowledge of all things virtual assets.
Users will get 99 BTC for each course they complete, similar to a cash rewards program.
YouTuber TodayTrader recently analyzed the cryptocurrency and told his 11,8000 subscribers that 99BTC has huge potential.
Unlike other recently introduced cryptocurrencies that want to try their way to gain traction in the market, 99BTC already has a giant pool of potential investors. With around 709,000 network members and more than 2. 8 million newsletter subscribers, 99BTC may grow as users of the educational platform begin to join.
There is also a lucrative staking program that offers an APY of 779%. All those points led investors to send more than $2 million to the 99BTC presale.
We officially raised over $2 MILLION from our 99 BTC #Prévente! ??
Thank you! ?
Join the ultimate learning tool where you can earn money while learning.
Don’t miss out – get it today https://t. co/NXD7DAamqr#99Bitcoins #BTC #Crypto #Learn2Earn pic. twitter. com/zpDn90jBM3 ?
— 99Bitcoins (@99BitcoinsHQ) June 10, 2024
Anyone who needs to buy the cryptocurrency and 779% APY can do so through the project’s official website. There is an undeniable acquisition widget built into the site’s homepage that investors can use to get the token.
Sold for $0. 00109, 99BTC can be purchased with ETH, USDT, BNB, or by credit card.
Buy 99 BTC to get up to 779% annual rewards.
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Steven is a passionate innovator in the fields of cryptocurrency and blockchain generation. It ranked among the top five in robotics in the world and began its exploration of those emerging technologies in 2014. After briefly reading computer science at the University of Texas at Arlington, he redirected his to actively contribute to the cryptocurrency space.
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