Bitcoin Price Prediction: As K33 Research Sees BTC Crashing to the “Low $50,000 Range,” This Learn To Earn Token Races Towards $3 Million

bitcoin price rose 3% over the past 24 hours to trade at $59,168 at 00:12 am on trading volume that fell 20%.

The mismatch between rising prices and falling trading volume suggests that there is still a lack of conviction among btc bulls.

But sentiment improved on July 9 after Federal Reserve Chairman Jerome Powell said the Fed is not yet ready to cut interest rates, citing the need for “more good data” to boost confidence that inflation is under control.

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SUMMARY OF POWELL'S PREPARED TESTIMONY:

1. Powell said the Fed is in no rush to cut interest rates.

2. Powell said policymakers remain vigilant about inflation risks and do not want to ease too soon or too much.

3. Powell added that easing also… image.twitter.com/vRvNFYOuFN

— Jesse Cohen (@JesseCohenInv) twitter.com/JesseCohenInv/status/1810680045821731027?ref_src=twsrc%5Etfw”>July 9, 2024

Meanwhile, as btc bulls show their lack of conviction, K33 Research warns that btc could drop to the low $50,000 range.

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This just in.

K33 Research predicts selling pressure of between $4 billion and $7 billion will weigh on prices.

My opinion? Don't expect a smooth ride.

Analysts are urging caution despite the rebound.

Is bitcoin Headed Towards $60,000 Or Another Correction?

Let's hear it.

-Iqbal Khan (@_iqbalkhan777) twitter.com/_iqbalkhan777/status/1810884287958503845?ref_src=twsrc%5Etfw”>July 10, 2024

Senior analyst Vetle Lunde said that weak seasonal trends in the third quarter are not favorable for bitcoin, adding that there is selling pressure from the German state of Saxony, which is disposing of confiscated btc, and the ongoing distribution of Mt. Gox refunds.

Lunde said the market will need to absorb between 75,000 and 118,000 btc ($4.3 billion to $6.8 billion) over the summer, leading to choppy market conditions that will last into October.

bitcoin Price Prediction

bitcoin price is in the process of recovery this week, with a successive series of rising highs with green candles. With this streak, bitcoin price has broken through the resistance due to the 78.6% Fibonacci retracement level of $57,543.

The green nodes on the volume profile support the bullish assumption, suggesting a bullish sentiment in the market. However, btc remains in danger considering the bearish outlook on the relative strength index (RSI) and moving average convergence divergence (MACD).

With the RSI below the 50 threshold and the MACD still in negative territory, the bears still have a say. If they get their way, the bitcoin price could drop below the $57,543 support. Potentially, it could reach the $53,185 support, the bottom of the market range.

In an extreme case, the downtrend could extend to the psychological level of $50,000, validating K33 Research's prediction.

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<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/07/Bitcoin-Price-Prediction-As-K33-Research-Sees-BTC-Crashing-to.png" alt="bitcoin Price” width=”1364″ height=”768″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/07/Bitcoin-Price-Prediction-As-K33-Research-Sees-BTC-Crashing-to.png 1364w, https://insidebitcoins.com/wp-content/uploads/2024/07/B-300×169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/B-1024×577.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/B-768×432.png 768w” sizes=”(max-width: 1364px) 100vw, 1364px”/>

eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″ target=”_blank” rel=”noopener”>GeckoTerminal: btc/USD 1-day chart

Converse case

On the other hand, increased buying pressure could push bitcoin price even higher, entering the Fibonacci Golden Zone. Considering that this is a highly volatile zone, only a breakout above it would make btc conducive to buying. This is unless one is a bitcoin long driven by the belief that it is always a good time to buy btc.

However, futures traders looking to take long positions on btc should wait for the bitcoin price to record a stable candle close above $65,772, marked by the 38.2% Fibonacci retracement level.

In a highly bullish scenario, gains could extend higher to break the resistance due to the 23.6% Fibonacci retracement level of $68,746. Beyond this break, the pioneer cryptocurrency would have a chance to reclaim its peak near the $74,000 level.

Meanwhile, investors are flocking to 99Bitcoins (99BTC), the latest bitcoin-derived token that crypto YouTuber Today Trader says is poised for parabolic gains.

Promising alternative to bitcoin

99Bitcoins is a long-standing educational platform that uses a new “Learn to Earn” rewards model.

99Bitcoins dates back to 2013, when it started as BitcoinWithPayPal.com. Once a simple domain, the project evolved into a true Web2 model and is now transitioning into Web3 with its $99BTC token.

The project incentivizes learning through a unique combination of gamification and a leaderboard-based reward system. With this mechanism, users’ learning experiences are incentivized with tangible benefits.

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Revolutionizing twitter.com/hashtag/Learn2Earn?src=hash&ref_src=twsrc%5Etfw”>#LearnToWin!

Why it's the future:

With the $99BTC token, you can earn rewards by simply expanding your twitter.com/hashtag/Cryptocurrency?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrency knowledge.

The numbers:

– 79 hours of courses
– 709 thousand followers
– 2.85 million subscribers

Have a look: https://t.co/NXD7DAamqrtwitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin image.twitter.com/rtBrEJjaZA

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1787063963382939801?ref_src=twsrc%5Etfw”>May 5, 2024

Token holders can also stake 99 btc for an annualized yield of 705%. More than 1.5 billion tokens have been staked so far.

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Short on time? Simply stake your $99 btc tokens on our website and earn passive rewards effortlessly!

Join now! https://t.co/nA4Lw89WA0twitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrencies twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale twitter.com/hashtag/Alts?src=hash&ref_src=twsrc%5Etfw”>#Alts image.twitter.com/av0mkMvIbR

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1781322130325430669?ref_src=twsrc%5Etfw”>April 19, 2024

Investors can purchase the 99BTC token for $0.00113. Those interested in joining the $2.3 million already invested in the project should not wait too long, as the price will increase in about six days.

Visit and buy 99Bitcoins here.

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