Bitcoin Price Prediction: BTC technical event could signal a new bull market as this cryptocurrency education platform soars towards $1 million.

bitcoin price rose It is up more than 1% in the last 24 hours, trading at $66,652.81 as of 8:15 a.m. ET, as investors slowly begin to accumulate the largest cryptocurrency by market capitalization.

However, BTC’s lackluster 24-hour performance does not tell the whole story, as a major bullish technical event is just around the corner.

As BTC’s 200-day simple moving average (SMA) attempts to rise to new heights, BTC and the rest of the cryptocurrency market could be getting closer to entering the next highly anticipated bull market.

Bitcoin price is supported by long-term technical indicators.

BTC/USDT daily chart (Source: TradingView)

The 200 SMA on the BTC daily chart is approaching the high set on February 24, 2022. At that time, the technical indicator reached a high of $49,452.

After overcoming these technological barriers in October 2023, BTC It soared to unprecedented heights. Bitcoin price now supports this key long-term technical indicator. This could provide a strong foundation for BTC to rise in the coming weeks.

Moreover, BTC’s 200-day SMA is currently hovering around $48,088.79 and could still rise considering the positive slope. If it continues to rise, BTC price will likely follow suit.

An SMA breaking above its previous high can be identified as a sign that Bitcoin has entered a bullish cycle along with the rest of the cryptocurrency market. This is because historical data shows the most intense phase of the past bull cycle occurred when BTC’s 200-day SMA soared to new all-time highs.

BTC has entered a new short-term positive trend.

From a short-term perspective, the Moving Average Convergence Divergence (MACD) has recently triggered a major bullish technical signal on the daily chart. This was after the MACD line crossed the MACD signal line in the last 48 hours.

Traders tend to view these specific technical events as signs that a cryptocurrency has entered a bullish phase. Since this has happened on the daily chart, it suggests that Bitcoin price has entered a positive trend in the short to medium term.

If this trend continues, Bitcoin price and 200-day SMA could continue to rise in the coming days. From a price perspective, BTC It could potentially turn the $69,085.36 resistance into support before a surge to $74,005.

Meanwhile, if the bullish theory comes to fruition, the 200-day SMA could also rise and attempt to overcome the previous high.

However, this bullish argument may be invalidated if the $69,085.36 barrier is rejected in the coming days. In this alternative scenario, the market leader could retest immediate support at $65,104.05 before a decline to $60,714.87 if selling pressure persists.

As the MACD and MACD signal lines have recently crossed, it seems more likely that a bullish scenario will unfold.

Bitcoin Derivatives pre-sale 99Bitcoin (99BTC) could benefit from rising BTC price. Not only is 99BTC a smaller altcoin with higher growth potential than BTC, but its branding connection to Bitcoin means that a surge in interest in the market leader could lead people to 99BTC.

An innovative approach to crypto education

99Bitcoins is a cryptocurrency education platform that has become one of the best online learning resources in the Web3 space.

With over 709,000 followers across its social accounts and 2 million registered users on its platform, 99Bitcoins has been successfully breaking down complex cryptocurrency terms for years.

To expand its product, the 99Bitcoins team decided to launch its own crypto token, 99BTC. Users of the platform can then complete interactive courses and tutorials in exchange for receiving cryptocurrency rewards.

Upon completing a course on the platform, users also have access to additional training content. This means that the more users join the 99Bitcoins platform, the more opportunities will open up to earn rewards paid in 99BTC.

Investors are rushing to participate in the high staking rewards of 99BTC.

More than $750,000 has been sent to the pre-sale of 99BTC as the ICO charges to reach its $1 million goal. A potential reason for this investor enthusiasm for 99Bitcoins could be the extremely high APY offered to anyone who buys and holds 99BTC at this early stage.

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Every four years, Bitcoin mining rewards are halved. The new reward is now 3.125. #BTC!

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— 99Bitcoins (@99BitcoinsHQ) April 23, 2024

With the project’s staking program offering an eye-popping 2,466% APY, investors are flocking to the token pre-sale to take advantage of this incredible opportunity before it’s too late.

To make money through this staking program, investors just need to go to the project website and purchase 99 BTC, which is sold for $0.00102. You can get tokens using USDT, BNB, ETH or your bank card. The final step to earning money is staking your tokens.

99BTC can be purchased and staked on the official website here.

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