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Guess the BTC Price During Binance Blockchain Week and Win Big!

Although Binance Blockchain Week (BBW). is still a few months away, the excitement is already building! Scheduled for October 30 and 31, this event promises to be another thrilling chaper in the world of crypto. But what will the market look like then? We want the tear your predictions.

Guess the Price of Bitcoin

We challenge you to guess the price of Bitcoin at the end of Binance Blockchain Week, on October 31 at 23:59 UTC 8+4. All users who guess the price correctly will share an allocation of $5000 FDUSD!

Submission Deadline:

Submit your predictions by making a post on Binance Square by October 20, 23:59 UTC+4. Don’t miss your chance to win a share of the reward pool!

How to Participate:

1. Make a Post: Create a post on Binance Square with you BTC price prediction for October 31 at 23:59 UTC+4. Be sure to use the hastage #BinanceBlockchainWeek
2. Share Your Post: Spread the word by sharing your post across your social media channels.

Campaign Period: 2024-08-20 00:00 to 2024-10-20 23:59 (UTC+4)

Eligibility: All paricipants who guess the correct price of BTC in the thousands percentile (the first two numbers) will get a reward allocation.

Terms and Conditions:

• Rewards are capped at $5 per participant.
• The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.
• Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards.

Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.

• 
  Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these and conditions without prior notice, including but not limited to cancelling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.
• Binance reserves the right of final interpretation of this activity.
• Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.
• Additional promotion terms and conditions can be accessed here.

Green Monthly Closed Bitcoin

Can Bitcoin get a green monthly close above $64.3K?

1. ETH
2. RSV
3. AMERICA
4. BTC
5. RSRV

Table of Contents

• Bitcoin struggles to overcome $63,900 resistance
• Lower interest rates could trigger Bitcoin bull market in early 2025: Nexo

Bitcoin’s summer lull could finally come to an end with a bullish breakout if it manages to close the month of August in the green.

 

To close August in the green, Bitcoin’s (BTC) price needs a monthly close above $64,300, which would require an over 7% rally from the current $59,960.

 

While the monthly candle close is difficult to predict, Bitcoin’s recent price action is a positive sign, according to Bitfinex analysts, who told Cointelegraph:

 

‘’Bitcoin reclaiming recently lost key levels like $64,000 and $61,500 are bullish signs… The current market is still illiquid, and we continuously have low-volume volatile moves. The current move lower is an unwinding of perps and spot long positions that had entered the market before the Jackson Hole conference.’’

 

Bitcoin price has been struggling to trade above the $60,000 psychological mark.

The world’s first cryptocurrency is down over 12% on the monthly chart, according to Cointelegraph data.

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Bitcoin struggles to overcome $63,900 resistance

Analysts warned tha the lack of liquidity characteristic of the summer could carry on into September and bring downside volatility.

Thus, Bitcoin wil struggle to overcome the $63,900 resistance, according to Bitfinex Analysts, who added:

‘’Price is a reflection of historical market transactions, we must look under the hood. Price rallied up to the Short Term Holder (STH) realized price of around $63,900 currently and thus, we also saw some profit-taking from the STH cohort.’’

 

Bitcoin’s average returns for the month of September were negative at -4.78% since 2013, according to analysts.

Related: Ethereum whales buy big as ETH bot tom approaches, analysts predict

 

Lower interest retes could trigger Bitcoin bull market in early 2025: Nexo

Bitcoin price remains range-bound between $58,000 and $64,000 amid the summer illiquidity.

 

However, a period of lower interest rates could trigger Bitcoin’s parabolic run, according to Kristian Hapalampiev, the structured products lead at Nexo.

 

He told Cointelegraph:

 

‘’Should lower interest rates come into effect to create a strong tailwind for BTC, then the bull market may only be taking a breather now, before intense growth returns in early-to-mid 2025.’’

Investors are increasingly expecting an interest rate cut from the Federal Reserve at its upcoming meeting on Sept. 18.

According to the latest data from the CME FedWatch tool, the odds of a 25 basis-point rate cut currently stand at 65.5% while the odds of a 50 basis-point rate cut are at 34.5%.

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