Bitcoin Price Prediction: Venezuela Bans Cryptocurrency Mining as This Learn-to-Earn Crypto Pre-Sale Moves Toward $2 Million – The Next Cryptocurrency to Explode?

bitcoin price up a fraction of a percent in the last 24 hours eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″>listed at $66,992 at 10:43 pm EST on trading volume that soared 34% to $21.46 billion.

This comes as Venezuela's Ministry of Electric Power reveals plans to disconnect cryptocurrency mining farms from the national grid as a means of regulating excessive energy consumption. crypto mining requires high demand for electricity, which is contributing to strains on the country's energy supply.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.9189189189189″>

twitter.com/hashtag/Oficial?src=hash&ref_src=twsrc%5Etfw”>#Official Cryptocurrency mining is prohibited throughout Venezuela.

— Asonacrip (National Cryptocurrency Association) (@AsonacripVe) twitter.com/AsonacripVe/status/1791656649301631294?ref_src=twsrc%5Etfw”>May 18, 2024

The decision to ban crypto mining comes after a recent crackdown that involved the confiscation of 2,000 mining devices in Maracay as part of an anti-corruption initiative.

Since March, bitcoin has been in a downtrend, with the 200-day simple moving average (SMA) at $52,283, data from eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″>Terminal Gecko sample. However, btc has not yet reached this critical support level. Instead, the support at $60,200 has allowed the bulls to push the price above the upper boundary of the falling wedge pattern.

bitcoin price action changed its trajectory and for the first time in 3 weeks, the price closed above the 50-day SMA, which could fuel a continued stance above the wedge.

Furthermore, there happens to be some action by buyers, with the Relative Strength Index (RSI) rising from oversold levels to cross the mid-50 level, currently trading at 58 as it rises.

The Moving Average Convergence Divergence (MACD) is bullish as the blue MACD line crosses above the orange signal line, a representation of a bullish crossover. A bullish crossover could signal retail investors to increase their positions, which could push btc prices higher.

btc is also trending positively, as indicated by the green bars on the histogram, which extend above the neutral line.

bitcoin Price Prediction: Breakout Could Result in 20% Bullish Move

bitcoin price technical analysis shows that btc bulls are aiming to push the price above the wedge as they target $80,000, which could represent a 20% increase from the current price.

Leading indicators including RSI and MACD encourage bullish investors to invest more, which could eventually push the price above the wedge, targeting the weak overhead resistance of $67,500 and $73,794. After that, btc may reach the target of $80,000.

However, in a reverse scenario, btc could correct in an attempt to fill the falling wedge, with $52,200 providing immediate support.

As bitcoin price bulls point to a reversal of the uptrend, some other investors are betting big on OG bitcoin educational website 99Bitcoins, which is set for a major relaunch in the third quarter.

99Bitcoins Pre-Sale Surpasses $1.4 Million: Best Cryptocurrency to Buy Now?

99Bitcoins (99BTC) is an educational platform that has more than 700,000 subscribers on its YouTube channel and more than 2 million people registered in the courses on the website. Its pre-sale has already raised $1.45 million.

The project is designed to enhance the learning experience by gamifying bitcoin education, allowing users to complete challenges and lessons to earn higher rankings and $99 btc as a reward.

<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

99Bitcoins aims to compete and surpass other educational coins such as OpenCampus (EDU), which has a market capitalization of $153 million, and TokenFi (TOKEN), which stands at $108 million.

The token is also merged with BRC-20, which allows the creation of dApps on the bitcoin network.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.148148148148″>

Introducing $99BTC in BRC-20!

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.

We are launching a platform that allows the construction of twitter.com/hashtag/dApps?src=hash&ref_src=twsrc%5Etfw”>#dApps at the top of the twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin network!twitter.com/hashtag/LearnToEarn?src=hash&ref_src=twsrc%5Etfw”>#LearnToWin rewards users on the bitcoin blockchain.

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1785308220677853254?ref_src=twsrc%5Etfw”>April 30, 2024

Token holders can earn passively bet $99 btc for an impressive 1,158% Annual Percentage Yield (APY).

Jacob Bury, a prominent crypto YouTuber, believes that 99 btc could turn $1,000 into $10,000 upon launch.

You can buy 99 btc now for $0.00105 per token, but, with the price rising in about a day, it would be wise to buy early to secure the best deal.

To join the pre-sale, You can buy $99BTC from the official website here.. You have the option to purchase the tokens using eth, USDT or a bank card.

Related news