Bitcoin Price Prediction: Bybit Says BTC Exchange Supply Will Run Out in 9 Months as Traders Turn to This ICO to Learn How to Earn for 10x Profits

The price of bitcoin bitcoin/”>pink more than 1% in the last 24 hours to trade at $63,853.99 at 2:20 am EST, as investors return to accumulate the market leader after the cryptocurrency's sudden drop over the weekend.

This comes as Bybit warns that demand for spot bitcoin ETFs (exchange-traded funds) and reduced mining rewards after the halving could combine to deplete btc exchange reserves within nine months.

“If we assume a daily inflow of $500 million into bitcoin spot ETFs, the equivalent of around 7,142 bitcoins will come out of foreign exchange reserves daily, suggesting it will only take nine months consume all remaining reserves,” he said Bybit, the world's third-largest crypto exchange, in an April 15 report. bitcoin-s-pre–and-post-halving-bltd6cfc1fe77b54f58/”>report. “With this in mind, it is not surprising that the price of bitcoin could continue to rise before the halving, or even after, as the reduction in supply drives the price to another new record.

bitcoin price regains crucial support

4-hour chart for btc/USDT (Source: x/St6lxrbh/”>TradingView)

He bitcoin The price was able to recover above the $63,301.31 mark in the last 24 hours. This has given the market leader a base to potentially continue rising in the next 24 hours. If this positive momentum persists, btc could soon attempt to challenge the next major resistance at $65,104.05. Sufficient buying pressure could even push the crypto up to $66,263.84 in the near term.

However, a break below the recently surpassed $63,301.31 mark in the next 12 hours could invalidate the bullish thesis. In this alternative scenario, the king of the cryptocurrency market could fall to $61,860.81. Losing the support of this crucial price point will expose btc to the risk of falling to $60,325.83 in an extremely bearish scenario.

bitcoin price has short-term technical support

Technical indicators on the btc 4-hour chart suggest that bitcoin price could continue to rise in the next 24 hours. Not only do buyers have an advantage over sellers, as the largest cryptocurrency by market capitalization also recently entered an uptrend.

During the last 24 hours, the Moving Average Convergence Divergence (MACD) line crossed above the MACD signal line. Traders often identify this technical fact as an indication that a cryptocurrency is entering a positive cycle. This, coupled with the recent break above $63,301.31, could trigger a wave of long positions by traders.

Buyers also seem to be re-entering the btc charts, which is evident by the position of the Relative Strength Index (RSI) line above the Simple Moving Average (SMA) line. Furthermore, the former is also emerging above the latter. The widening gap between the two technical indicators could suggest that the bulls are gathering strength against the bears, which could result in the bitcoin the price continues to rise.

A potential bullish reversal of btc's bearish trend could inject a renewed sense of optimism into smaller-cap bitcoin derivatives.

99Bitcoins, which has managed to maintain its positive momentum amid the recent correction, could benefit the most from this rebound in investor interest. With its pre-sale reaching the million-dollar mark, analysts say the cryptocurrency could generate 10x returns for investors after launch.

Pioneers in the space to learn how to make money

99Bitcoins has become one of the leading cryptocurrency and blockchain educational platforms since its launch. Known for its ability to break down complex aspects of Web3 into simple terms, the team behind the successful project is now looking to expand its offering by launching the 99BTC crypto token.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”8.3562753036437″>

What is spatial computing? Discover how twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw”>#blockchain is transforming AR/VR, making immersive digital worlds more interactive and safe.

Dive deeper: https://t.co/2hlZYRFHBvtwitter.com/hashtag/99BTC?src=hash&ref_src=twsrc%5Etfw”>#99BTC twitter.com/hashtag/SpatialComputing?src=hash&ref_src=twsrc%5Etfw”>#SpatialComputing twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#web3

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw”>April 8, 2024

Through its innovative learn-to-earn model, users of the 99Bitcoins platform will be able to earn cryptocurrency while developing their knowledge of new and exciting concepts within the burgeoning digital asset space.

Additionally, by completing the interactive educational resources offered, users will be able to access more content. This means that the more users learn, the more opportunities they have to win.

With over 700,000 YouTube subscribers and over 2 million registered users on its platform, the project's native 99BTC token is already exposed to a wide group of potential investors.

Investors rush to buy 99BTC

99Bitcoins has had a successful pre-sale so far, raising over $400k.

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With the twitter.com/hashtag/BitcoinHalving?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Halving event just 9 days away, speculation is increasing: Is it twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btcWill the price skyrocket after the halving?

Dive deeper into our analysis of the potential price impact of this major supply shock.

Read more: https://t.co/zTA3n26nDltwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/Halving?src=hash&ref_src=twsrc%5Etfw”>#Reduce by half twitter.com/hashtag/BullMarket?src=hash&ref_src=twsrc%5Etfw”>#Bull market

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1778338447922544707?ref_src=twsrc%5Etfw”>April 11, 2024

An astonishing 4.894% APY is also offered to investors who purchase and stake their tokens during this early stage of the ICO phase. But the APY will decrease as the pre-sale progresses, so if you're interested, buy early for the best returns.

Investors can purchase the token for $0.00101 using eth, USDT, BNB, or a bank card on the project's official website here.

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99Bitcoins (99BTC) – New token to learn how to earn

• Audited by solid evidence
• Established brand: founded in 2013
• Free Airdrop – Win a Share of $99,999
• Learn to Earn: Earn money to complete trading courses
• More than 700,000 YouTube communities