Bitcoin price prediction as MicroStrategy plans to raise $500 million to buy more BTC and 99BTC ICO surpasses $2 million

bitcoin price registered a bitcoin/”>small profit over the last 24 hours to trade at $67,728.33 at 7:55 am EST, as some investors identify the crypto's current levels as a buying opportunity.

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MicroStrategy Announces Proposed Private Offering of $500 Million in Convertible Senior Notes twitter.com/search?q=%24MSTR&src=ctag&ref_src=twsrc%5Etfw”>$MSTR https://t.co/5K8TqAi1D7

—Michael Saylor (@saylor) twitter.com/saylor/status/1801202266768326895?ref_src=twsrc%5Etfw”>June 13, 2024

A wave of institutional capital could soon give the btc price a boost after Microstrategy announced its intention to offer $500 million in convertible senior notes to qualified institutional investors.

The majority of the net proceeds from the offering will be used to purchase additional bitcoin, according to a Press release.

bitcoin Price Tries to Regain Crucial Support

4-hour chart for btc/USDT (Source: x/Tpryf05V/”>TradingView)

He bitcoin The price was able to overcome a medium-term negative trend line that appeared on its 4-hour chart. However, sellers quickly brought the price of the leading cryptocurrency back below this trend line in the past 24 hours. This resulted in btc also falling below the $67,970 support.

Now, bitcoin price is trying to regain a position above $67,970. Buyers have entered the cryptocurrency charts, as evidenced by the wicks present below the last three 4-hour candles. If btc closes a 4-hour candle above this mark within the next 12 hours, btc could have the technical foundation needed to challenge the negative trend line again.

If bitcoin price manages to break above the trend line, it could attempt to rise to $70,195. Continued buying volumes should btc reach this resistance could lead the cryptocurrency to rise as high as $71,800 in the near term.

The bullish thesis could be invalidated if bitcoin price is rejected by the $67,970 threshold. In this alternative scenario, btc could fall to the immediate support level at $66,085 over the next 48 hours.

Technicians Suggest bitcoin Price Has the Support to Rise in the Short Term

Technical indicators on btc's 4-hour chart suggest that the cryptocurrency has the buyer support needed to rally above $67,970. More specifically, the Moving Average Convergence and Divergence (MACD) and Relative Strength Index (RSI) indicators are showing bullish signs.

The bulls also have a slight advantage against the bears, as indicated by the RSI's position above its simple moving average (SMA) line. Buyer strength is also increasing, which is evident by the positively sloping RSI line.

Meanwhile, the MACD line is positioned above the MACD signal line on the 4-hour chart. Traders often identify the former placed above the latter as an indication that a cryptocurrency is in a short-term positive cycle.

If the technical signals presented by the RSI and MACD indicators are validated, bitcoin price could soon surpass $67,970. Conversely, a rejection could result in btc printing another lower high before potentially falling in the near term.

With btc looking to reclaim the $67,970 support and MicroStrategy preparing to buy more bitcoin, investors could flock to 99Bitcoins (99BTC) too.

An innovative project to learn to earn

99Bitcoins is an established educational platform that has broken down complex terms in the Web3 space for hundreds of thousands of people over the years. Now, the team is looking to expand the project's offering by launching its own cryptocurrency.

With the 99BTC token, 99Bitcoins aims to revolutionize crypto education through an innovative learn-to-earn model. Instead of passively consuming content, users of the platform will be able to earn cryptocurrency by brushing up on their knowledge of everything related to digital assets.

Users will receive 99 btc for each course they complete, similar to a cash back rewards program.

YouTuber TodayTrader recently analyzed the crypto and told his 11.8k subscribers that 99BTC has huge potential.

Immediate access to a great community

Unlike other recently launched cryptocurrencies that have to try to gain traction in the market, 99BTC already has access to a wide pool of potential investors. With around 709,000 community members and over 2.8 million newsletter subscribers, 99BTC could rise as users of the educational platform start purchasing it.

There is also a lucrative staking program that offers an APY of 779%. All of these factors have resulted in investors sending over $2 million into the 99BTC pre-sale.

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GREAT NEWS!

We have officially raised over $2 MILLION in our $99BTC twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale!

Thanks a lot!

Join the ultimate learning tool where you can earn money while you learn.

Don't miss out – get started today! https://t.co/NXD7DAamqrtwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto twitter.com/hashtag/Learn2Earn?src=hash&ref_src=twsrc%5Etfw”>#Learn2Earn pic.twitter.com/zpDn90jBM3

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1800117979759214620?ref_src=twsrc%5Etfw”>June 10, 2024

Anyone who wants to buy cryptocurrencies and get access to 779% APY can do so through the project's official website. There is a simple purchase widget integrated into the site's home page that investors can use to purchase the token.

Selling for $0.00109, 99BTC can be purchased using eth, USDT, BNB, or bank card.

Buy 99BTC here to get up to 779% in annual rewards.

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