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bitcoin price is up almost 2% in the last 24 hours to trade at $62,774 at 01:45 am EST.
According to Coinglass analysts, if the bulls can push btc back above the $63,000 threshold, this would induce strength among altcoins.
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twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto Market RSI Heatmap (4H)
Most altcoins are currently in a neutral position.
Yeah twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin exceeds 63,000, altcoins will be stronger.
https://t.co/nM8AMjt8L6 pic.twitter.com/9vjcibufeG
-CoinGlass (@coinglass_com) twitter.com/coinglass_com/status/1788791619216642509?ref_src=twsrc%5Etfw”>May 10, 2024
Separately, Glassnode researchers say that bitcoin price has recorded the deepest correction in terms of close since the FTX lows in November 2022. Despite remaining more than 20% below its peak of $73,777 , the same analysts say that this macro bullish trend still appears to be one of the most resilient in history.
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Measured from the ATH of $73k, twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin prices corrected -20.3%, which is the deepest closing correction since FTX's November 2022 lows.
That said, this macro bullish trend still appears to be one of the most resilient in history, with corrections comparatively shallow… pic.twitter.com/8WvCOGBV2R
– glass node (@glassnode) twitter.com/glassnode/status/1788557758729437281?ref_src=twsrc%5Etfw”>May 9, 2024
Meanwhile, twitter (now x) co-founder Jack Dorsey says btc will be worth “at least a million” by 2030, adding that it could go further. Dorsey made this super bullish prediction on May 9 during a interview on pirate cables.
bitcoin price prediction
bitcoin price has fallen below the center line of the Bollinger Band indicator, as shown on GeckoTerminal's chart for the WBTC/USD trading pair, suggesting increasing volatility to the downside. The position of the Relative Strength Index (RSI) below the mid-level of 50 shows that the market may be prepared for further declines before a correction. Note that the Awesome Oscillator (AO) is also still in negative territory, further tipping the odds in favor of the downside.
If selling pressure increases, bitcoin price could fall below the lower band of the Bollinger indicator at $59,076. Such a directional bias could cause bitcoin price to extend the decline to $57,829 or, in a severe case, provide another buying opportunity around the psychological level of $50,000.
<img decoding="async" class="aligncenter wp-image-519275 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price” width=”1361″ height=”767″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc.png 1361w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-300×169.png 300w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-1024×577.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-768×433.png 768w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-269×153.png 269w” data-lazy-sizes=”(max-width: 1361px) 100vw, 1361px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc.png”/>btc.png” alt=”bitcoin price” width=”1361″ height=”767″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc.png 1361w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-300×169.png 300w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-1024×577.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-768×433.png 768w, https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-price-prediction-as-Jack-Dorsey-says-BTC-will-hit”https://technicalterrence.com/crypto/bitcoin/”>btc-269×153.png 269w” sizes=”(max-width: 1361px) 100vw, 1361px”/>
eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″ target=”_blank” rel=”noopener”>WBTC/USD 1-day chart
On the other hand, if the bulls rally the market, bitcoin price could trigger the falling wedge pattern. This would mean a bullish reversal of the 20% target for technical training. This target is measured by adding the maximum distance between the upper and lower trend lines to the expected breakout point.
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It has already raised more than 1,168 million dollars in its pre-sale.
Promising alternative to bitcoin
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Starting as BitcoinWithPayPal.com, it is transitioning to Web3 with its $99 btc token. 99Bitcoins promises an innovative earn-as-you-learn experience for website users.
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Start your $99 btc journey with our free crash course!
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https://t.co/PepIrsQGUi pic.twitter.com/UohphNbGbS
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1784945905839333719?ref_src=twsrc%5Etfw”>April 29, 2024
99Bitcoins incentivizes learning through a unique combination of gamification and a ranking rewards system. This ensures that users feel that their learning generates tangible and therefore usable benefits. Basically, you earn cryptocurrency while you learn about cryptocurrency.
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Exclusive access to advanced modules is available to $99 btc token holders.
Delve into topics ranging from sophisticated trading strategies to in-depth topics twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw”>#blockchain technological applications.
Enjoy the twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale now!
https://t.co/NXD7DAamqrtwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin twitter.com/hashtag/CryptoNews?src=hash&ref_src=twsrc%5Etfw”>#CryptoNews pic.twitter.com/M5p0dtDc9f
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1784583408183660750?ref_src=twsrc%5Etfw”>April 28, 2024
Of a total of 99 billion 99BTC tokens, 15% have been reserved for sale over the course of a fourteen-round pre-sale. The goal is to raise the necessary funds to accelerate cutting-edge development around the project's BRC-20 integration.
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Our twitter.com/hashtag/Learn2Earn?src=hash&ref_src=twsrc%5Etfw”>#Learn2Earn The platform is at the center of our mission to educate.
You will be able to immerse yourself in a wide range of topics, from twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw”>#blockchain From basics to advanced trading strategies, all while unlocking rewards!
Discover more: https://t.co/NXD7DAamqrtwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/CryptoNews?src=hash&ref_src=twsrc%5Etfw”>#CryptoNews twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc pic.twitter.com/l9sjDsjOAb
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1784221058481938450?ref_src=twsrc%5Etfw”>April 27, 2024
Buyers can stake 99 btc tokens to earn an annual return of 1,476%. So far, more than 737 million 99BTC tokens have been staked.
The 99BTC token is currently selling for $0.00104, but with the price rising in about four days, buy it soon if you're interested.
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Also read:
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