Bitcoin Price Prediction as Wisconsin Buys $100 Million of BlackRock BTC ETF and Investors Flog into This ICO with 1,359% APY

bitcoin price rose 0.5% in the last 24 hours to trade at $62,340 at 04:12 am EST with trading volume falling 13%.

Despite multiple breakout attempts, bitcoin price continues to consolidate within a descending parallel channel. However, there is a clear attempt by btc bulls to gain control, with btc price maintaining a sequence of higher lows since bottoming on May 1.

Meanwhile, the state of Wisconsin is making headlines for buying spot bitcoin ETFs.

The state of Wisconsin invested $164 million in spot bitcoin ETFs (exchange-traded funds) in the first quarter as institutional interest in the cryptocurrency king grows.

The state investment board acquired 94,562 shares of the iShares bitcoin Trust ETF (IBIT) worth about $100 million and $64 million in shares of the Grayscale bitcoin Trust (GBTC), according to a presentation with the United States Securities and Exchange Commission (SEC).

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JUST IN: Wisconsin State Investment Board Reveals It Owns Nearly $100 Million in BlackRock Stock twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF. pic.twitter.com/Jdv4uKSi9J

– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1790388916102574323?ref_src=twsrc%5Etfw”>May 14, 2024

According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, this is a good sign, pointing to growing interest in the investment product among institutional players.

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Wow, he bought himself a state pension. twitter.com/search?q=%24IBIT&src=ctag&ref_src=twsrc%5Etfw”>$ VA in the first trimester. You typically don't get these big fisheries on 13Fs for about a year (when the ETF gets more liquidity), but as we've seen, these are no ordinary launches. Good sign, expect more as institutions tend to move in herds https://t.co/leKVe2CK1S

– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1790391049560498410?ref_src=twsrc%5Etfw”>May 14, 2024

These revelations show that large TradFi funds continue to invest in btc spot ETFs in the US. This is due to its historic approval on January 10 and subsequent launch the following day.

bitcoin price prediction

bitcoin price is moving towards recovery, as evidenced by higher lows as the price moves above the ascending trend line. The same is seen in the Relative Strength Index (RSI), which shows increasing bullish sentiment.

If the RSI makes a higher high that moves it above the mid-50 level, bitcoin price could extend the rally. A move above the center line of the Bollinger Band indicator at $62,186 would encourage more buying orders.

This could send btc to the upper boundary of the descending trend line before facing the upper band of the Bollinger indicator at $65,285. A candle close above this level would confirm a change in the market structure in favor of the upside.

In a very bullish case, bitcoin price could extend the rise to $72,577. A stable close above this level would not only make the all-time high of $73,777 recoverable, but would also set the tone for a new price high.

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eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed” target=”_blank” rel=”noopener”>GeckoTerminal: btc/USD 1-Day Chart

Conversely, if selling pressure increases, bitcoin price would fall below the support offered by the ascending trend line. This could cause btc to fall below $60,457, where holders would panic, causing panic selling.

Such an outcome could cause bitcoin price to drop to provide another buying opportunity around the $56,000 level. This threshold was last tested on May 1.

Meanwhile, investors are flocking to 99BTC, a learn-to-earn cryptocurrency presale that offers high rewards for early adopters.

According to crypto Boy, a famous cryptocurrency YouTuber, the project has great potential and currently offers an affordable entry.

A promising alternative to bitcoin

99Bitcoins is an educational platform with more than 700,000 subscribers on its YouTube channel and more than two million people registered for the website's courses. It uses a simplified approach by using interactive videos to facilitate learning.

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Wisconsin takes a strategic step in the twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto market with an investment of $99 million in twitter.com/hashtag/BlackRock?src=hash&ref_src=twsrc%5Etfw”>#BlackRock's twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF, joining financial giants like JPMorgan and Wells Fargo.

This indicates the approval at the state level of twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc as a legitimate asset class. https://t.co/PepIrsQGUi

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1790686563577254025?ref_src=twsrc%5Etfw”>May 15, 2024

99Bitcoins intends to enhance the learning experience by gamifying crypto education, as users who complete challenges and lessons earn higher rankings and $99BTC tokens as rewards.

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Start your $99 btc journey with our free crash course!

More than 100,000 students have enjoyed our course and receive daily emails with essential information. twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc alpha.

With over 750 participants, it's designed to be short, sweet, and super educational!

https://t.co/PepIrsQGUi pic.twitter.com/UohphNbGbS

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1784945905839333719?ref_src=twsrc%5Etfw”>April 29, 2024

It also integrates with BRC-20, which allows users to easily create dApps on the bitcoin network.

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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

99BTC holders can also stake their tokens for an annual percentage yield (APY) of an impressive 1,359%. Around 14% of the 99 billion token supply has gone towards staking rewards.

Jacob Bury, a prominent crypto YouTuber, believes that 99BTC has the potential to turn $1,000 into $10,000 upon launch.

You can buy 99BTC now for $0.00105. However, since the price will increase in less than six days, shop quickly to get the best deal.

Visit and buy 99Bitcoins here.

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