Bitcoin Price Prediction: As K33 Research Sees BTC Plummeting To “Low $50,000 Range,” This Learn To Earn Token Races Towards $3 Million

The Bitcoin worth is up 3% within the final 24 hours to commerce for $59,168 as of 00:12 a.m. on buying and selling quantity that plunged 20%.

The mismatch between the worth rise and the plunging buying and selling quantity counsel there may be nonetheless an absence of conviction amongst BTC bulls.

However sentiment improved on July 9 after Federal Reserve Chair Jerome Powell stated the Fed just isn’t prepared to chop rates of interest simply but, citing the necessity for “extra good information” to extend confidence that inflation is below management.

⚠️ SUMMARY OF POWELL’S PREPARED TESTIMONY:

1. Powell signaled that the Fed is in no rush to chop rates of interest.

2. Powell stated policymakers stay attentive to the dangers that inflation poses and don’t wish to ease up too quickly and an excessive amount of.

3. Powell added that easing too… pic.twitter.com/vRvNFYOuFN

— Jesse Cohen (@JesseCohenInv) July 9, 2024

In the meantime, as BTC bulls present their lack of conviction, K33 Analysis warns that BTC might plunge to the low $50,000 vary.

This simply in.

K33 Analysis predicts $4-7 billion in promoting stress to weigh on costs.

My opinion? Do not count on a easy trip.

Analysts advise warning regardless of the rebound.

Is Bitcoin headed for $60K or one other correction?

Let’s hear it.

— Iqbal Khan (@_iqbalkhan777) July 10, 2024

Senior analyst Vetle Lunde stated the third quarter’s weak seasonal traits usually are not favorable for Bitcoin, including that there’s promoting stress from the German state of Saxony, which is offloading seized BTC, and the continued distribution of Mt. Gox refunds.

Some 75,000 to 118,000 BTC ($4.3 billion to $6.8 billion) will have to be absorbed by the market over the summer season, resulting in uneven market situations anticipated to final till October, Lunde stated.

Bitcoin Value Prediction

The Bitcoin worth is nurturing a restoration this week, boasting a successive collection of upper highs with inexperienced candlesticks. With this streak, the Bitcoin worth has overcome resistance as a result of 78.6% Fibonacci retracement stage of $57,543.

The inexperienced nodes on the amount profile help the bullish supposition, suggesting a bullish sentiment out there. Nonetheless, BTC stays within the woods contemplating the bearish outlook within the Relative Energy Index (RSI) and the Shifting Common Convergence Divergence (MACD).

With the RSI beneath the 50 threshold and the MACD nonetheless in destructive territory, the bears nonetheless have their say. If they’ve their method, the Bitcoin worth may slide beneath the $57,543 help. Doubtlessly, it may  go as little as the $53,185 help, the underside of the market vary.

In a dire case, the downtrend may lengthen to the $50,000 psychological stage, validating K33 Analysis’s prediction.

GeckoTerminal: BTC/USD 1-day chart

Converse Case

However, elevated shopping for stress may ship the Bitcoin worth additional north, foraying into the Fibonacci Golden Zone. Contemplating this can be a extremely risky zone, solely an escape above it might render BTC ripe to purchase. That is except one is a Bitcoin maxi pushed by the assumption that it’s all the time an excellent time to purchase BTC.

Nonetheless, futures merchants trying to take lengthy positions on BTC ought to anticipate the Bitcoin worth to file a steady candlestick shut above $65,772. That is earmarked by the 38.2% Fibonacci retracement stage.

In a extremely bullish case, the positive aspects may lengthen larger to shatter resistance as a result of 23.6% Fibonacci retracement stage of $68,746. Past this blockade, the pioneer cryptocurrency would have an opportunity to reclaim its peak close to the $74,000 stage.

In the meantime, traders are flocking to 99Bitcoins (99BTC), the most recent Bitcoin by-product token that crypto YouTuber Immediately Dealer says is poised for parabolic positive aspects.

Promising Various To Bitcoin

99Bitcoins is a long-established academic platform that makes use of a brand new Study-to-Earn rewards mannequin.

99Bitcoins traces again to 2013, when it began out as BitcoinWithPayPal.com. As soon as a easy area, the challenge has developed into a real Web2 mannequin and is now transitioning to Web3 with its $99BTC token.

The challenge incentivizes studying by way of a singular mixture of gamification and a leaderboard reward system. With this mechanism, customers’ studying experiences are incentivized with tangible advantages.

Revolutionizing #Learn2Earn! 📘

🎓 Why It’s the Future:

With the $99BTC Token, you’ll be able to earn rewards just by increasing your #Cryptocurrency data.

The Numbers: 🔢

– 79 hours of Programs
– 709K Followers
– 2.85M Subscribers

Have a look: https://t.co/NXD7DAamqr#Bitcoin pic.twitter.com/rtBrEJjaZA

— 99Bitcoins (@99BitcoinsHQ) May 5, 2024

Token holders may also stake 99BTC for an annual yield of 705%. To date, upwards of 1.5 billion tokens have been staked.

Quick on time? Merely stake your $99BTC tokens on our web site and earn passive rewards effortlessly!

Be a part of now! 👉 https://t.co/nA4Lw89WA0#99Bitcoins #Crypto #Presale #Alts pic.twitter.com/av0mkMvIbR

— 99Bitcoins (@99BitcoinsHQ) April 19, 2024

Buyers should purchase the 99BTC token for $0.00113. These so as to add to the $2.3 million already pumped into the challenge shouldn’t wait too lengthy as a result of a worth hike is coming in about six days.

Go to and purchase 99Bitcoins right here.

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