Bitcoin Price Drop and Volume Surge
The price of Bitcoin has decreased by almost 2% in the last 24 hours, currently trading at $41,123, with a surge of 30% in trading volume, reaching $19.05 billion.
For the week, Bitcoin is also experiencing a dip by approximately 2.6%, despite a 13% increase over the past month.
Franklin Templeton Strategist’s Prediction for Bitcoin
Franklin Templeton strategist Sandy Kaul Kaul believes that every country’s national treasury will soon hold BTC and that it will become the primary unit of trade.
Kaul feels that Bitcoin will be more useful than CBDCs for national treasuries, making it a necessary asset.
Bitcoin Price Outlook According to Analysts
The price of Bitcoin is currently uncertain, lingering below the resistance at $43k for about a week and dropping 2% in the last 24 hours. Analysts expect another test of the upper trend line and a potential correction to $36k.
Despite the bearish signals from Bollinger bands, analysts speculate that the RSI score’s oversold territory may attract traders looking to buy the dip, possibly leading to one last push to the resistance at $43k before a bear market takes hold.
Promising Alternative to Bitcoin
Investors seeking an alternative to Bitcoin should consider BTCETF, a presale token designed to capitalize on the potential approval of spot Bitcoin ETFs by the SEC, offering significant gains. The project’s milestones will reward holders upon completion
The presale has been successful, raising over $4.69 million with the tokens currently selling for $0.0068, purchasable via ETH or USDT.
Hot Take: The Future of Bitcoin
The hot take for Bitcoin’s future is that it will likely be a necessary asset for all national treasuries, according to Franklin Templeton strategist Sandy Kaul Kaul. Despite the recent price drop and uncertainty, BTC may see one last push towards resistance, offering potential investment opportunities for the savvy crypto trader. unveiling a potential investment opportunity for crypto enthusiasts.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.