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Bitcoin Price Prediction: Standard Chartered Sees BTC Hitting $100K By US Election Day As Experts Say Consider This L2E Crypto For Parabolic Gains

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Liquidations

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The Bitcoin worth is down a fraction up to now 24 hours to commerce for $60,342 as of 10:30 a.m. EST on buying and selling quantity that surged 16%.

Regardless of the drop, merchants stay optimistic about BTC as the value reverses again to a essential help degree.

Famend dealer Crypto Rover says this might be the final dump earlier than the bull market continues.

Commonplace Chartered Financial institution’s head of foreign exchange and digital belongings analysis, Geoffrey Kendrick, shares the optimism. He says the Bitcoin worth might file a brand new all-time excessive in August, probably going as excessive as $100,000 by the point of the US presidential election in November.

However Kendrick stated his prediction hinges on Joe Biden remaining within the presidential race. That makes August 4 a pivotal date provided that Ohio regulation requires presidential candidates to be registered by then. If Biden stays the Democratic nominee on this date, likelihood is he rivals Donald Trump in November’s election.

If this occurs, Kendrick says, the market would favor a Donald Trump victory. The analyst describes Trump as “Bitcoin-positive,” observing that there’s a correlation between the previous president’s electoral odds and the Bitcoin worth.

However Bitcoin might plunge to $50k if Biden drops out of the race, Kendrick stated.

Bitcoin Worth Prediction

The Bitcoin worth is buying and selling with a bearish bias, recording three successive pink candlesticks this week. Because it assessments the essential help at $60,227, earmarked by the 78.6% Fibonacci retracement degree, the following 24 hours will likely be essential for the pioneer cryptocurrency.

The take a look at of this help noticed 59,539 merchants get liquidated, in accordance with Coinglass knowledge, with the entire liquidations coming in at $153.18 million.

Liquidations

If the 78.6% Fibonacci retracement degree holds as a help ground, the Bitcoin worth might bounce atop it for a restoration. Nevertheless, primarily based on the outlook of the Relative Energy Index (RSI), the market could also be primed for additional losses. The RSI is under the 50 threshold, with pronounced decrease highs to point out waning purchaser momentum.

The Shifting Common Convergence Divergence (MACD) can be in detrimental territory, exhibiting the bears have the higher hand within the quick time period. Merchants ought to look ahead to the RSI breaking under the 30 threshold, as this may signify BTC is oversold. At this level, a stable transfer above the identical threshold would point out BTC is ripe to purchase, with a restoration to be anticipated.

BTC

BTC

GeckoTerminal: BTC/USD 1-day chart

However, if bulls purchase the dip, a restoration might ensue. However, solely a candlestick shut above the 38.2% Fibonacci retracement degree of $67,076 would vindicate the Bitcoin worth from the bears’ arms. For the layperson, the Fibonacci Golden Zone, extending between 61.8% and 38.2%, is a risky space for an asset’s worth.

In the meantime, traders are flocking to 99Bitcoins (99BTC), a Be taught-to-Earn instructional platform that crypto YouTuber Right this moment Dealer says has ”enormous potential.”

Promising Various To Bitcoin

99Bitcoins is a long-established instructional platform that’s pioneering a brand new Be taught-to-Earn rewards mannequin.

Boasting best-in-class instructional sources and visible studying programs for crypto learners, this venture has earned a spot among the many most trusted names in crypto circles.

The venture traces again to 2013. Beginning out as BitcoinWithPayPal.com, what was as soon as a easy area has since transcended to a real Web2 vogue. Transitioning to Web3 with its $99BTC token, 99Bitcoins guarantees a groundbreaking earn-as-you-learn expertise for web site customers.

99Bitcoins incentivizes studying via a novel mixture of gamification and a leaderboard reward system. This ensures customers really feel like their studying is producing tangible advantages. Put merely, you earn crypto whereas studying about crypto.

You too can stake your 99BTC holdings for rewards as excessive as 717% yearly. To this point, upwards of 1.5 billion tokens have been staked.

Presale gross sales have handed the $2.35 million threshold, with the $3.173 million goal now inside attain.

99BTC tokens are at the moment worth at $0.00112. Purchase now in case you are as a result of a worth hike will happen in lower than six days.

Purchase 99Bitcoins tokens right here.

Additionally Learn:

99Bitcoins (99BTC) – New Be taught To Earn Token

99Bitcoins

99Bitcoins

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99Bitcoins

99Bitcoins


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