Convergence

Bitcoin

Band Protocol

April

The Bitcoin price <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">rose</a> more than 1% in the past 24 hours to trade at $63,853.99 as of 2:20 a.m. EST as investors return to accumulate the market leader after the flash crypto crash over the weekend.
This comes as Bybit warns that demand from spot Bitcoin ETFs (exchange-traded funds), and the reduced mining rewards after the halving, could combine to deplete BTC exchange reserves within nine months.
“If we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent of around 7,142 bitcoins will leave exchange reserves daily, suggesting that it will only take nine months to consume all of the remaining reserves,” said Bybit, the world’s third-largest crypto exchange, in an Apr. 15 <a href="https://blog.bybit.com/en/post/what-you-need-to-know-about-bitcoin-s-pre--and-post-halving-bltd6cfc1fe77b54f58/" rel="noopener noreferrer nofollow">report</a>. “<span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">With this in mind, it’s unsurprising that Bitcoin’s price may continue to climb before the halving, or even afterward, as the supply squeeze propels the price to another new record.”
<h2 id="span-style-font-weight-400-the-bitcoin-price-reclaims-crucial-support-span">The Bitcoin Price Reclaims Crucial Support</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/s/St6lxrbh.png" alt="BINANCE:BTCUSDT Chart Image by StevenWalgenbach">
4-hour chart for BTC/USDT (Source: <a href="https://www.tradingview.com/x/St6lxrbh/" rel="noopener noreferrer nofollow">TradingView</a>)
The <a href="https://insidebitcoins.com/news/bitcoin-etfs-will-be-lucky-to-raise-500m-in-tiny-hong-kong-market-bloomberg-etf-analyst-says" rel="noopener noreferrer nofollow">Bitcoin</a> price was able to recover back above the $63,301.31 mark in the last 24 hours. This has given the market leader a foundation to potentially continue to climb in the upcoming 24 hours. Should this positive momentum persist, BTC might soon attempt a challenge at the next major resistance at $65,104.05. Enough buy pressure could even push the crypto to as high as $66,263.84 in the short term.
However, a break below the recently-breached $63,301.31 mark in the coming 12 hours might invalidate the bullish thesis. In this alternative scenario, the crypto market king could fall down to $61,860.81. Losing the support of this crucial price point will then expose BTC to the risk of plummeting to as low as $60,325.83 in an extremely bearish scenario.
<h2 id="span-style-font-weight-400-the-bitcoin-price-has-short-term-technical-support-span">The Bitcoin Price Has Short-Term Technical Support</h2>
Technical indicators on BTC’s 4-hour chart suggest the Bitcoin price might keep climbing in the coming 24 hours. Buyers not only have an upper hand against sellers, as the largest crypto by market cap&nbsp; recently entered a bullish trend as well.
Over the past 24 hours, the Moving Average Convergence Divergence (MACD) line crossed above the MACD Signal line. Traders usually identify this technical occurrence as an indication of a crypto entering a positive cycle. This, coupled with the recent break above $63,301.31, might trigger a wave of long positions by traders.
Buyers also seem to be re-entering BTC’s charts, which is evident by the Relative Strength Index (RSI) line’s position above the Simple Moving Average (SMA) line. In addition to this, the former is also breaking away above the latter. The growing gap between the two technical indicators could suggest that bulls are accumulating strength against bears, which might result in the <a href="https://insidebitcoins.com/news/bitcoin-price-prediction-as-10x-research-sells-everything-on-imminent-correction-risk-this-btc-derivative-offers-a-last-chance-to-buy" rel="noopener noreferrer nofollow">Bitcoin</a> price rising further.
A potential bullish reversal of BTC’s downtrend could inject a renewed sense of optimism into smaller-capped Bitcoin derivatives.
<a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">99Bitcoins</a>, which has managed to maintain its positive momentum amid the recent correction, could stand to benefit the most from this uptick in investor interest. With its presale charging towards the $1 million mark, analysts say the crypto might print 10x gains for investors after launch.
<h2 id="span-style-font-weight-400-pioneering-the-learn-to-earn-space-span">Pioneering The Learn-To-Earn Space&nbsp;</h2>
99Bitcoins has become one of the leading crypto and blockchain education platforms since its launch. Known for its ability to break down complex Web3 aspects into layman’s terms, the team behind the successful project are now looking to expand their offering through the launch of the 99BTC crypto token.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 What is Spatial Computing? Discover how <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blockchain</a> is transforming AR/VR, making immersive digital worlds more interactive and secure.
 Dive deeper: <a href="https://t.co/2hlZYRFHBv" rel="noopener noreferrer nofollow">https://t.co/2hlZYRFHBv</a><a href="https://twitter.com/hashtag/99BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99BTC</a> <a href="https://twitter.com/hashtag/SpatialComputing?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SpatialComputing</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Web3</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Through its innovative learn-to-earn model, 99Bitcoins platform users will be able to earn crypto while building their knowledge of new and exciting concepts within the burgeoning digital asset space.
 What’s more, by completing the interactive educational resources on offer, users will gain access to more content. This means that the more users learn, the more opportunities to earn they will have.
With over 700,000 YouTube subscribers and more than 2 million registered users on its platform, the project’s native 99BTC token is already exposed to a vast pool of potential investors.
<h2 id="span-style-font-weight-400-investors-are-rushing-to-buy-99btc-span">Investors Are Rushing To Buy 99BTC</h2>
99Bitcoins has had a successful presale so far, raising more than $400k.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 With the <a href="https://twitter.com/hashtag/BitcoinHalving?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinHalving</a> event just 9 days away, speculation is mounting: Is <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>'s price set to skyrocket post-halving? 👀
 Dive into our analysis on the potential price impact of this pivotal supply shock.
 Read more: <a href="https://t.co/zTA3n26nDl" rel="noopener noreferrer nofollow">https://t.co/zTA3n26nDl</a><a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> <a href="https://twitter.com/hashtag/Halving?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Halving</a> <a href="https://twitter.com/hashtag/BullMarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BullMarket</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1778338447922544707?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 11, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
There is also an eye-watering 4,894% APY being offered to investors who purchase and stake their tokens during this early stage of the ICO phase. But the APY will decline as the presale proceeds, so, if you are interested, buy soon for the best returns.
Investors can buy the token for $0.00101 using either ETH, USDT, BNB or a bank card <a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">on the project’s official website here</a>.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/solana-meme-coin-slothana-raises-10m-in-presale-unveils-14-day-last-chance-to-buy-timer-ahead-of-4-20" rel="noopener noreferrer nofollow">Solana Meme Coin Slothana Raises $10m In Presale, Unveils 14-Day Last Chance To Buy Timer Ahead Of 4/20&nbsp;</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/band-protocol-price-prediction-for-today-april-16-band-technical-analysis" rel="noopener noreferrer nofollow">Band Protocol Price Prediction for Today, April 16 – BAND Technical Analysis</a></li>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e/" rel="noopener noreferrer nofollow">Upcoming Crypto Presales: Unlock Early Investment Opportunities!</a></li>
</ul>

Bitcoin Price Prediction: Bybit Says BTC Exchange’s Supply Will Run Out In 9 Months As Traders Turn To This Learn-To-Earn ICO For 10X Gains

Table of Contents

Inside Bitcoins

Other articles published on Apr 17, 2024

Hong Kong Eyes Leadership in Bitcoin and Ethereum ETF Markets

Ripple’s Ongoing Legal Battle with the SEC

Casper Looks Bearish: Will CSPR Continue to Underperform Ahead?

Is Ethereum turning bullish? This indicator is the key

Polygon (MATIC) Remarkable Week Spells Success for Koala Coin (KLC) and Internet Computer (ICP)

Ripple Lawsuit Might Make It to Supreme Court: Former SEC Litigator

Join our free newsletter for daily crypto updates!