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Analyst Says Bitcoin Could Be Ready for $120,000 with Traders Also Backing 99Bitcoins Token
Cryptocurrency investors are buzzing about an analyst’s $120,000 Bitcoin price target for 2024.
This analyst believes that Bitcoin could see a 78% increase before the end of the year, based on how DXY is forming.
But many traders believe that a token called 99Bitcoins Token (99BTC) could upend crypto education.
A cryptocurrency analyst predicts that Bitcoin will rise to $120,000 by the end of the year
After Bitcoin’s impressive rally last week, cryptocurrency traders are closely monitoring the coin’s every move.
And according to popular analyst Trader Tardigrade, its rally may have just begun.
In a recent tweethas abandoned a bold prediction that Bitcoin could rise from its current level to $120,000 by the end of the year.
His bullish thesis depends on the behavior of the DXY index.
This index, which measures the strength of the dollar against other major currencies, displays a “double top” chart pattern and a declining trajectory.
Tardigrade believes this signals trouble for the dollar, but potential upside for Bitcoin.
The logic is that when the dollar weakens, this often leads to a rally for Bitcoin as investors flock to deflationary assets.
Given the magnitude of the potential DXY decline Tardigrade predicts, its six-figure Bitcoin target is starting to look more plausible.
Only time will tell whether or not this bold call will be successful, but it will certainly give Bitcoin investors something to think about.
BTC on verge of overtaking ATH as spot ETF inflows continue
Trader Tardigrade’s prediction isn’t the only source of optimism surrounding Bitcoin.
Markus Thielen, head of research at crypto analytics firm 10x Research, also expressed his optimism.
According to Thielen most recent reportBitcoin could be on the verge of breaking its all-time high if it manages to break above the $67,500 level.
That level has been a line in the sand for Bitcoin of late.
However, if current momentum pushes the price above $67,500, Thielen’s analysis suggests new record highs could be on the horizon.
These positive comments come as Bitcoin continues its recovery on Monday.
The coin has risen by 2% since yesterday and is now hovering around the $67,100 level.
Additionally, institutional inflows from BTC spot ETFs they remained positive for two consecutive weeks, so things are starting to look very promising for Bitcoin bulls.
Ultimately, as the $67,500 resistance level rapidly approaches, Bitcoin’s momentum and inflow of institutional capital may be enough to see it through.
99Bitcoins Crypto Token Learning to Earn Attracts Bullish Price Predictions
While Bitcoin is making headlines this week, another cryptocurrency is quietly gaining traction: 99 Bitcoin Token.
This token is attracting praise for being part of a new “Learn to Earn” model.
Its premise is simple: users can earn 99BTC tokens by progressing through interactive courses and learning modules on the 99Bitcoins platform.
These tokens can then be used to unlock premium content, trading signals and other exclusive benefits.
It’s an approach that taps into the growing crypto education space by introducing gamification elements to engage students.
And with a pre-sale phase currently underway that has already raised $1.4 million, some traders are speculating that 99BTC could be poised for growth once it goes public.
For example, YouTube trader Crypto Wire released a video speculating that 99BTC could have “100x potential.”
Adding to the hype is an ongoing $99,999 BTC airdrop campaign for community members.
The combination of educational value, gamification, and the prospect of airdrop rewards is making 99Bitcoins Token a hot topic in the cryptocurrency market.
Currently, aspiring investors can purchase 99BTC during the presale for $0.00105.
Investors can participate using ETH, USDT, or a credit/debit card.
Visit the 99Bitcoins token presale
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