Bitcoin Price Prediction As Mt. Gox Moves 47.2K BTC Ahead Of FOMC Decision With Time Running Out To Buy 99BTC ICO

The Bitcoin price tumbled 0.5% in the last 24 hours to trade for $66,363 as of 02:30 a.m. EST on trading volume that plunged 26%.

It comes amid ongoing Mt. Gox repayment woes as the defunct crypto exchange moved another 47,229 BTC, worth over $3 billion, to three unknown wallets.

This is after it moved $3.89 billion worth of BTC to Bitstamp, Kraken, Bitbank, and SBI VC Trade since July 5 as part of a repayment scheme.

Meanwhile, crypto markets are also keeping an eye on the Federal Reserve. This is ahead of Fed Chair Jerome Powell’s press conference at 2.30pm ET after the close of the Federal Open Market Committee (FOMC) meeting.

Crypto Rover, a popular trader, highlighted that three of the last four FOMC meetings marked bottoms for Bitcoin.

Data shows a 4.1% chance of a pivot and a 95.9% chance that the rate stays the same.

Bitcoin Price Prediction

The Bitcoin price is trading with a bullish bias, holding steady within an ascending parallel channel. If the confluence between the 38.2% Fibonacci retracement level of $65,772 and the lower boundary of the channel holds as a support level, BTC could push north.

A flip of the $68,746 resistance level into a support floor would pave the way for further upside. A break and close above it would encourage more buy orders, potentially sending the pioneer cryptocurrency to the range high of $73,553. In a highly bullish case, the gains could extrapolate towards a new peak.

The outlook of the Relative Strength Index (RSI), which defends above the mean level of 50, shows that the bulls still have control. This could push the Bitcoin price further north. The Moving Average Convergence Divergence reinforces this stance, holding in positive territory and above the signal line.

GeckoTerminal: BTC/USD 1-day chart

Conversely, a closer look at the MACD shows a looming sell signal, which would be executed if this indicated crosses below the signal line. The MACD histograms are also flashing red, suggesting budding bearish sentiment in the BTC market.

If the $65,772 support level breaks, the Bitcoin price could extend the fall. In such a directional bias, only a break and close below $63,369 would spook investors. In a dire case where the altcoin slides lower, a candlestick close below 60,965 would trigger panic selling.

For the bullish thesis to be invalidated, the bears must bring the Bitcoin price below $53,185, which was last tested on July 5.

Meanwhile, Bitcoin believers are also buying into 99Bitcoins (99BTC), which has amassed over $2.5 million in funding. It’s now offering investors a last chance to buy with less than 6 days left in its presale.

Jacob Bury, a prominent crypto YouTuber, believes that 99BTC has the potential to turn $1K into $10K after its launch.

Promising Alternative To Bitcoin

99Bitcoins has been a sensation as a crypto educational platform, with over 705,000 subscribers on its YouTube channel and more than 2 million people registered for the website’s courses.

With its ICO launch, 99 Bitcoins introduces a Learn-to-Earn (L2E) model that incentivizes its students to learn about cryptocurrency.

The platform aims to enhance the learning experience by gamifying Bitcoin education. This is where users complete challenges and lessons, earning them higher rankings and $99BTC as rewards.

Users on the platform can also earn passively by  staking $99BTC , which offers an impressive 671% annual percentage yield (APY).

You can buy 99BTC now for $0.00116. With the presale closing in less than 6 days, buy soon before it’s too late.

Visit and buy 99Bitcoins here .

Also Read:

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