Bitcoin Price Prediction: Australia May Approve Spot Bitcoin ETFs This Year And The 99BTC Learn-To-Earn ICO Closes On $1M

The Bitcoin price dropped 2% in the last 24 hours to trade at $62,352 as of 02:51 a.m. EST on trading volume that rose 19% to $21 billion.

This comes as Bloomberg reported that the Australian Securities Exchange (ASX), which holds a 90% share of Australia’s equity market, is set to approve its first spot-Bitcoin ETFs (exchange-traded funds) before the end of the year.

Two Bitcoin ETF applications have already been submitted by VanEck Australia and BetaShares, a local ETF-focused fund manager, and a third application is in progress, the Bloomberg story said.

The move towards ETFs has picked up in and around Asia after US approvals in January.

Bitcoin Price Set To Soar Over The Bullish Pennant

Bitcoin Price Chart Analysis Source: Tradingview.com
BTCUSD Chart Analysis Source: Tradingview.com

The Bitcoin price has been trading to higher lows and higher highs, fluctuating within the bullish pennant pattern after a markup phase it experienced in 2024. March saw Bitcoin breach its previous all-time high (ATH) of $69,000 to a new ATH at $73,737.

However, BTC has dropped below the $65,104 support and has been unable to recover above this point since. Sellers have managed to prevent further price increases for the king of crypto, with BTC trading within the lower boundary of the bullish pennant.

BTC is currently at risk of dropping to the next support level at $60,714, as it trades below the 50-day Simple Moving Average (SMA). However, the Bitcoin price trading above the 200-day SMA could invalidate the bearish thesis.

Additionally, the downtrend coincides with the movement of the Relative Strength Index (RSI), as it trades downwards towards the oversold level at 41.

Bitcoin Price Prediction: BTC Bulls Aim To Push The Price To A New ATH Around $85,000

Technical indicators on BTC’s 4-hour chart are sending mixed signals. On one hand, the 50-day SMA is trading above the 200-day SMA, forming a golden cross at $28,507, which indicates that BTC should be on a continuous bullish trend.

On the other hand, the RSI is bearish, which indicates that sellers have the upper hand against buyers.

If the bulls capitalize on the golden cross and the formation of the bullish pennant, they could push the price over to the next target of $85,000. If the RSI crosses below the 30-oversold region, buyers could trigger a buyback, which could further propel the price.

However, the recent downtrend could be sustained due to the pressure from the bears, which could push the price to the next support zone at $60,714.

Meanwhile, as the BTC bulls look for clear signals, investors are turning to the $99BTC presale, which has raised $908k

99Bitcoins Presale’s “Learn-To-Earn” Model Attracts Big Investors

The 99Bitcoins (99BTC) platform has established itself in the crypto space as one of the leading crypto educators in the field. The platform is renowned for simplifying complicated crypto concepts, thus helping many to better understand the blockchain space.

99Bitcoins has over 700,000 subscribers on its YouTube channel, and more than two million people registered for the website’s courses.

With the new ICO launch, 99Bitcoins is now revolutionizing crypto education with its Learn-to-Earn model, where investors can earn passively by learning about blockchain. Completing courses earns $99BTC tokens, similar to a cashback rewards program.

Stake $99BTC For 2,038% Annual Rewards

The platform also has a staking platform, where investors can stake $99BTC for an impressive 2,038% annual percentage yield.

$99BTC tokens are priced at $0.00102 per token. If you are interested, buy before a price increase in less than 21 hours.

To participate in the presale, you can buy $99BTC from the official website here. You can use ETH, USDT, or a bank card. 

Related News

  • How to Buy Bitcoin with Credit Card
  • Where to Buy Presale Crypto: Unlock Exclusive Early Investments Now! 🎉🎉
  • Upcoming Crypto Presales: Unlock Early Investment Opportunities! 🚀🌟

Comments

Post a Comment

Popular posts from this blog

Inquiry on Binance headquarters and audit left unanswered by new CEO Richard Teng

The new CEO of the Binance exchange, Richard Teng, dodged answering a question about the location of the company’s headquarters and its audit or. His statement was made as part of the Crypto and Digital Assets Summit organized by the Financial Times. During his speech, the new CEO of the exchange once again emphasized Binance’s “shortcomings” with respect to the company’s regulatory requirements. At the same time, Teng avoided questions related to the organization’s activities and structure. You might also like: Richard Teng takes the helm at Binance promising a shift away from outlawed behaviour When about Binance’s global headquarters , and whether the company will be audit ed, or if it plans to apply for a license in the UK, Binance’s new CEO said that he had already answered each of the questions asked “previously.” When asked again about the headquarters , Teng again brushed it off, emphasizing that it was “under consideration.” “...
Read more

Polygon 2.0 Aims to Become the Value Layer of Internet

Image
Thus, Polygon 2.0 will serve as a fundamental layer to create, exchange, as well as program value. The team claims that Polygon 2.0 will help democratize the global economy just as the internet helped in democratizing information access. Polygon 2.0 brings decentralized finance, digital ownership, and innovative coordination methods to the forefront. It fills the gap in creating an Internet that prioritizes users rather than gatekeepers, rent-seekers, or intermediaries. The new and upgraded Polygon version will serve as the blueprint for building the Value Layer. It Features a set of proposed upgrades bringing a major shift in the protocol’s architecture, tokenomics, and governance. The team shall reveal more details regarding Polygon 2.0 in the coming weeks. They will detail the future of the Polygon PoS chain, as well as the utility and the evolution of the MATIC token. Recommended Articles ...
Read more

Australian regulator ASIC to ramp up focus on digital scam

ASIC, Australia’s financial watchdog, has announced a new four-year plan prioritizing consumer protection against digital scams, including cryptocurrency-related frauds. ASIC, the Australian Securities and Investments Commission, has unveiled a new four-year strategy aimed at shielding consumers and businesses from digital scams, including those involving cryptocurrencies. Chair Joe Longo indicated that while ASIC has made strides since outlining its priorities last year, there’s ongoing work. The regulator is adapting to shifts in sustainable finance, the digital economy, and the challenges an aging population poses. You might also like: ASIC releases the top 10 ways to spot a crypto scam Longo also mentioned that ASIC closely monitors how emerging technologies like AI could impact businesses and consumers. Australia has been generally favorable toward digital currencies. The country has both embraced and regulated cryptocurrencies, most notably by exempt...
Read more