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bitcoin price rose 1% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>listed at $62,690 at 04:39 am EST on trading volume that soared 71% to $22 billion.
This comes as El Salvador launched its proof-of-reserve website, which consists of different features that help monitor the country's bitcoin holdings by using on-chain data.
The country now holds 5,748 btc, with a current value of approximately $360 million. El Salvador continues to purchase the asset, with the recent purchase of seven btc worth over $438,000 made last week.
bitcoin Price Prepares for a Bounce Above the Falling Wedge
bitcoin price has been in a downtrend since mid-April after retesting the $72,000 resistance, falling within the falling wedge pattern, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal Gecko sample.
However, the $60,202 support level has offered a cushion for btc bulls to bounce above the upper boundary of the falling wedge.
btc is trading slightly above the 50-day SMA, confirming the upcoming bullish rally. If the bulls lead this trend, btc could break the 200-day SMA barrier above $63,805, further supporting bullish sentiments.
Additionally, the Relative Strength Index (RSI) is trading north, currently at 60, an indication of intense buying pressure. If the buying frenzy continues, the RSI could surpass the overbought region of 70, an indication of continued investor optimism.
The moving average convergence divergence (MACD) is also bullish, with the MACD line (blue) crossing above the signal line (orange), representing a bullish crossover. A bullish crossover could be a signal for bulls to add more to their buying positions, which could push btc higher.
The green bars are also forming above the neutral line, indicating that btc is currently in positive momentum.
bitcoin price prediction
bitcoin price analysis on the 4-hour chart indicates that btc is about to break out of the falling wedge as bulls target $71,500 in the coming weeks.
Leading indicators including the RSI and MACD show that btc is currently on a bullish path, and bullish investors aim to push the price higher.
However, in a reverse scenario, the bears could push btc down slightly to $58,984, acting as a cushion against downward pressure.
As the price of btc soars, some investors are also diversifying their portfolios with $99BTC, a pre-sale that has already raised more than $1.2 million.
99Bitcoins Pre-Sale Surpasses $1.2 Million: Best Cryptocurrency to Buy Now?
99Bitcoins (99BTC) is an educational platform with more than 700,000 subscribers on its YouTube channel and more than 2 million people registered for the website's courses.
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The platform aims to enhance the learning experience by gamifying bitcoin education, with users completing challenges and lessons to earn higher rankings and $99BTC as a reward.
99Bitcoins also integrates with BRC-20, which allows the creation of dApps on the bitcoin network.
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Since 2013, twitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins has been the reference resource to learn about twitter.com/hashtag/Cryptocurrency?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrency.
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— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1785308220677853254?ref_src=twsrc%5Etfw”>April 30, 2024
The token holder can earn passively by staking $99 btc for an impressive 1.395% Annual Percentage Yield (APY).
According to Jacob Bury, a prominent crypto YouTuber, 99BTC has the potential to convert between $1,000 and $10,000 upon launch.
You can buy 99 btc now for $0.00104, but since the price will rise in about 20 hours, it's best to buy early to secure the best deal.
To join the pre-sale, you can purchase $99 btc from the official website here. You have the option to purchase the tokens using eth, USDT or a bank card.
Related news
99Bitcoins (99BTC) – New token to learn how to earn
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