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Bitcoin dipped beneath crucial triangle support this week as investors worried about what the break of consolidation might signal ahead of the Bitcoin block halving.
The price drop has primarily been fuelled by further Middle East instability. Despite this, traders remain bullish on $BTC, treating any dips as highly requested buying opportunities.
While Bitcoin dips, a newly emerging Bitcoin-related token is still rising. 99Bitcoins just started its presale for $99BTC, and its learn-to-earn concept has attracted almost $500K in fundraising in under a week.
Bitcoin Loses Support at Massive Consolidation Pattern – How Low Can It Go Now?
Bitcoin fell a steep 14% this week, losing support at the bottom angle of a major consolidation pattern.
The cryptocurrency had traded in this consolidation triangle since setting an all-time high price of $73,780 earlier in March.
Recent tensions in the Middle East caused $BTC to lose footing at the lower angle of the triangle this week, causing it to briefly drop beneath $60,000;
Looking ahead, if the sellers do push $BTC beneath the $60,000 support, added support first lies at $58,355—provided by the February 2021 highs. This is followed by $55,400, $42,145 (December 2021 highs), $50,750, $50,000, and $48,280 (2022 highs).
Where Are Investors Parking Their Cash?
With Bitcoin tanking, traders are starting to look to newly emerging presale projects to park their cash.
Presales offer perfect opportunities for investment hedges during down trends as they usually have a delay from investment to launch – allowing time for the market to recover.
One newly launched ICO that’s turning heads in the industry this week is 99Bitcoins ($99BTC).
The platform has raised nearly $500,000 in its first week as investors rush to its new learn-to-earn product, which is set to become a pioneer on BRC-20.
99Bitcoins Sees Huge Growth After Raising $500K In First Week
99Bitcoins is a long-established cornerstone of crypto education, with over 11 years of educating users under its build.
The highly reputable resource has established an expansive, trusted community with over 700,000 YouTube subscribers and 2 million registered users on its crypto courses.
After establishing itself as a reliable source of information and education in the crypto space, 99Bitcoins is ready to take the next step in its educational journey by pioneering the learn-to-earn movement.
The project utilizes its educational materials platform to integrate the $99BTC token, providing rewards for those completing its academic courses.
With over 79 hours of educational content on its platform, users can earn passive crypto rewards while learning about the blockchain industry.
Those holding the $99BTC token can sell it for other crypto, such as $BTC or $ETH. They can use it in its advanced staking ecosystem, access advanced trading courses, and enter advanced VIP trading community groups.
Pioneering BRC-20: 99bitcoins Continues to Double-Down on Biggest Blockchain
Best of all, 99Bitcoins is living up to its ethos of pushing the boundaries of crypto education by becoming a pioneer of the BRC-20 token standard movement, doubling down on the biggest blockchain.
The BRC-20 token standard allows developers to build dApps on top of the Bitcoin network, sharing its enhanced security.
$99BTC will launch as an ERC-20 token but will be bridged to the Bitcoin Network later in the year, utilizing the new token standard to increase its permanence and immutability.
With the Bitcoin block halving coming, its network will become more powerful, and 99Bitcoins will be one of the first pioneers on the blockchain of dApps the BRC-20 token standard will create.
With the presale raising $500K in a few days, the hype behind the project is gaining traction.
The presale is currently selling $99BTC for $0.00101. However, it’s important to note that it uses a rising pricing strategy, so those getting positioned earlier benefit from the lower entry prices.
$99BTC also hosts a lucrative $99,999 airdrop event for 99 community members who join the presale early. To enter, users must follow the steps on its Gleam competition, with details outlined on its website.
99Bitcoins ($99BTC) is a breath of fresh air in Web3 as a reputable platform journey into the token economy.
