Bitcoin Price Prediction: Bybit Says BTC Exchange's Supply Will Run Out In 9 Months As Traders Turn To This Learn-To-Earn ICO For 10X Gains (2024)

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The Bitcoin price rose more than 1% in the past 24 hours to trade at $63,853.99 as of 2:20 a.m. EST as investors return to accumulate the market leader after the flash crypto crash over the weekend.

This comes as Bybit warns that demand from spot Bitcoin ETFs (exchange-traded funds), and the reduced mining rewards after the halving, could combine to deplete BTC exchange reserves within nine months.

“If we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent of around 7,142 bitcoins will leave exchange reserves daily, suggesting that it will only take nine months to consume all of the remaining reserves,” said Bybit, the world’s third-largest crypto exchange, in an Apr. 15 report. “With this in mind, it’s unsurprising that Bitcoin’s price may continue to climb before the halving, or even afterward, as the supply squeeze propels the price to another new record.”

The Bitcoin Price Reclaims Crucial Support

Bitcoin Price Prediction: Bybit Says BTC Exchange's Supply Will Run Out In 9 Months As Traders Turn To This Learn-To-Earn ICO For 10X Gains (1)

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price was able to recover back above the $63,301.31 mark in the last 24 hours. This has given the market leader a foundation to potentially continue to climb in the upcoming 24 hours. Should this positive momentum persist, BTC might soon attempt a challenge at the next major resistance at $65,104.05. Enough buy pressure could even push the crypto to as high as $66,263.84 in the short term.

However, a break below the recently-breached $63,301.31 mark in the coming 12 hours might invalidate the bullish thesis. In this alternative scenario, the crypto market king could fall down to $61,860.81. Losing the support of this crucial price point will then expose BTC to the risk of plummeting to as low as $60,325.83 in an extremely bearish scenario.

The Bitcoin Price Has Short-Term Technical Support

Technical indicators on BTC’s 4-hour chart suggest the Bitcoin price might keep climbing in the coming 24 hours. Buyers not only have an upper hand against sellers, as the largest crypto by market cap recently entered a bullish trend as well.

Over the past 24 hours, the Moving Average Convergence Divergence (MACD) line crossed above the MACD Signal line. Traders usually identify this technical occurrence as an indication of a crypto entering a positive cycle. This, coupled with the recent break above $63,301.31, might trigger a wave of long positions by traders.

Buyers also seem to be re-entering BTC’s charts, which is evident by the Relative Strength Index (RSI) line’s position above the Simple Moving Average (SMA) line. In addition to this, the former is also breaking away above the latter. The growing gap between the two technical indicators could suggest that bulls are accumulating strength against bears, which might result in the Bitcoin price rising further.

A potential bullish reversal of BTC’s downtrend could inject a renewed sense of optimism into smaller-capped Bitcoin derivatives.

99Bitcoins, which has managed to maintain its positive momentum amid the recent correction, could stand to benefit the most from this uptick in investor interest. With its presale charging towards the $1 million mark, analysts say the crypto might print 10x gains for investors after launch.

Pioneering The Learn-To-Earn Space

99Bitcoins has become one of the leading crypto and blockchain education platforms since its launch. Known for its ability to break down complex Web3 aspects into layman’s terms, the team behind the successful project are now looking to expand their offering through the launch of the 99BTC crypto token.

What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.

Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3

— 99Bitcoins (@99BitcoinsHQ) April 8, 2024

Through its innovative learn-to-earn model, 99Bitcoins platform users will be able to earn crypto while building their knowledge of new and exciting concepts within the burgeoning digital asset space.

What’s more, by completing the interactive educational resources on offer, users will gain access to more content. This means that the more users learn, the more opportunities to earn they will have.

With over 700,000 YouTube subscribers and more than 2 million registered users on its platform, the project’s native 99BTC token is already exposed to a vast pool of potential investors.

Investors Are Rushing To Buy 99BTC

99Bitcoins has had a successful presale so far, raising more than $400k.

With the #BitcoinHalving event just 9 days away, speculation is mounting: Is $BTC's price set to skyrocket post-halving? 👀

Dive into our analysis on the potential price impact of this pivotal supply shock.

Read more: https://t.co/zTA3n26nDl#99Bitcoins #Halving #BullMarket

— 99Bitcoins (@99BitcoinsHQ) April 11, 2024

There is also an eye-watering 4,894% APY being offered to investors who purchase and stake their tokens during this early stage of the ICO phase. But the APY will decline as the presale proceeds, so, if you are interested, buy soon for the best returns.

Investors can buy the token for $0.00101 using either ETH, USDT, BNB or a bank card on the project’s official website here.

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99Bitcoins (99BTC) - New Learn To Earn Token

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FAQs

How much will 1 Bitcoin be worth in 2050? ›

Similarly to the prediction for 2040, we've used Bitcoin's 3-year CAGR of about 19% to calculate what the price of Bitcoin would be in 2050 based on those parameters. According to the calculation, Bitcoin's price could increase to $5,411,000 by 2050 and grow by more than +10,980% over the next 27 years.

Will exchanges run out of Bitcoin? ›

The report predicts that if the current rate of withdrawals continues (currently around 7,000 BTC per day), the reserve could be completely depleted within the next nine months. The shortage forecast is closely tied to the expected 2024 halving event, which will cut the number of Bitcoins produced per block in half.

What will be the price of 1 Bitcoin in 2030? ›

The Bitcoin price prediction for 2030 is between $ 137,357 on the lower end and $ 305,028 on the high end. Based on our BTC price prediction chart, the price of Bitcoin could gain 418.75% and reach $ 305,028 if it reaches the upper price target.

What is the realistic price prediction for Bitcoin? ›

If bitcoin experiences that same rate of appreciation in its average annual returns, it will reach $98,700 in January 2025 and hit $100,000 in February of that same year. Some experts believe bitcoin could increase in value even more quickly.

How much will 1 Bitcoin be worth in 5 years? ›

We predict that Bitcoin will hold an average price of $60,000 in 2024, thanks to the Halving event, and settle more in 2025 with an average of $65,000. In 2026, we see Bitcoin trading as high as $90,000 by the end of the year. By 2030, we predict that Bitcoin could reach a high of $160,000.

How much is 1 Bitcoin worth in 2040? ›

Fidelity Predicts: $1B per 1 BTC by 2038 — 2040

Jurrien Timmer, the Director of Global Macro at Fidelity Investments, thinks the value of a single Bitcoin could reach $1 billion by the year 2038 — 2040.

How much will 1 Bitcoin be worth in 2024? ›

A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.

How long does it take to mine 1 Bitcoin? ›

How Long Does It Take to Mine 1 Bitcoin? The reward for mining is 3.125 bitcoins. It takes the network about 10 minutes to mine one block, so it takes about 10 minutes to mine 3.125 bitcoins.

How much Bitcoin is not traded? ›

Roughly 60% of that Bitcoin is held by entities — either people or businesses — that have never sold more than 25% of Bitcoin they've ever received, and have often held on to that Bitcoin for many years, which we label as Bitcoin held for long-term investment.

What happens after Bitcoin halving? ›

After the halving, the rate of issuance of new bitcoin as well as the rewards for successful bitcoin miners are cut in half. There can only be 21 million bitcoin, and fewer new tokens entering circulation could impact bitcoin prices. That's why the halving is watched closely by miners and investors alike.

How much would $1000 in Bitcoin be worth in 2030? ›

If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?

Who owns the most Bitcoin? ›

Who Owns the Most Bitcoins? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.

How much will 1 Ethereum be worth in 2030? ›

By the end of 2030, the predicted Ethereum price could soar to a peak of $26,575.21. The current price of 1 Ethereum is $ 3,054.12341169.

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