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    Blockchain

    Bitcoin Price Forecast: CryptoQuant Announces $1 Billion in Bitcoin Whale Sale, While ‘Learn to Win’ ICO Raises Nearly $3 Million

    msmarkBy No Comments6 Mins Read
    Bitcoin price

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    The price of Bitcoin has fallen slightly over the past 24 hours to trade at $65,241 as of 00:46 AM EST on trading volume that is down 46%.

    This indicates waning conviction among traders, causing a lack of market participation and interest in BTC at the moment.

    Meanwhile, analysts from CryptoQuant note that BTC whales and miners have sold over a billion worth of Bitcoin in the past two weeks.

    The report also highlights weak buying interest, noting that “traders are still not increasing their Bitcoin holdings and demand growth for large holders (whales) still lacks strength.”

    The data shows that the sale coincides with net outflows from US-listed bitcoin ETFs in the same period.

    the Cryptoquant report It explored three main reasons behind the recession, citing miners capitulating, declining stablecoin issuance, and large outflows from ETFs.

    Miner capitulation refers to miners selling their Bitcoin holdings due to declining profits. Decreased stablecoin issuance restricts market liquidity, amplifying price declines. Large ETF outflows indicate that investors are unloading their investments in Bitcoin.

    Bitcoin price prediction as the price of Bitcoin rises within the golden zone

    Bitcoin price is trading with a bearish bias, recording a series of lower highs over the past two weeks. Currently, it is at an immediate support level due to the 50% Fibonacci placeholder at $65,128, and is deep in the golden zone.

    The market is tilted in favor of the bears, since buyer momentum is weak as the Relative Strength Index (RSI) is below the 50 intermediate level. The Moving Average Convergence Divergence (MACD) indicator is also in the negative zone below the signal. line, highlighting the bearish hypothesis.

    If selling pressure increases, Bitcoin price could test the crucial support at $64,000, which marks the low of Tuesday’s trading session. In a difficult case, this could be followed by a drop to the most important Fibonacci retracement level of 61.8%, below which the short-term downtrend will be strengthened.

    GeckoTerminal: 1-day BTC/USD chart

    On the other hand, if the bullish momentum continues and the $65,128 support level holds, Bitcoin price may pivot around to change the directional bias. In such a case, only a candle close above the 23.6% Fibonacci retracement level at $69,595 will defend Bitcoin price from the hands of bears.

    Therefore, traders looking to take new buy or sell positions in BTC should wait for the decisive escape from the golden Fibonacci zone. Key Fibonacci retracement levels within the golden zone typically include 38.2%, 50%, and 61.8%. These levels are derived from the Fibonacci sequence and are believed to represent potential areas where the asset price may reverse or consolidate before continuing in its previous trend.

    Meanwhile, as Bitcoin price makes its next move inside the golden zone, cryptocurrency YouTuber TodayTrader suggests looking at 99BTC, a new learn-to-earn cryptocurrency that is an established educational platform.

    A promising alternative to Bitcoin

    99 Bitcoin It boasts best-in-class educational resources and video courses for cryptocurrency beginners, and has one of the most trusted names in cryptocurrency circles.

    The project, dating back to 2013, unveils a new Learn to Earn rewards model. 99Bitcoins will reward individuals for learning more about cryptocurrencies.

    It motivates learning through a unique blend of gameplay and a leaderboard reward system. This ensures that users feel that their learning brings tangible benefits. Simply put, you can earn cryptocurrencies while learning cryptocurrencies.

    You can also stake your 99BTC holdings to get rewards of up to 757% p.a. To date, over 1.4 billion tokens have been staked.

    Pre-sale sales have already exceeded $2.2 million.

    The price of 99BTC tokens is currently at $0.0011, but the price is scheduled to increase in less than five days.

    Buy 99BTC tokens on the official website here.

    Read also:

    99Bitcoins (99BTC) – a new code to learn how to make money

    99 Bitcoin
    • Verified by strong evidence
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    99 Bitcoin


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