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The Bitcoin price has plunged by 1.4% in the last 24 hours to trade at $40,975 as of 11:05 p.m. EST on daily trading volume that surged 9% to $10.8 billion.
This comes as Franklin Templeton CEO Jenny Johnson said she’s a “believer” in Bitcoin, and sees it more than just an investment. It’s also a safety net in countries with unstable political or economic conditions, she said.
Franklin Templeton manages $1.5 trillion in assets and has launched a spot Bitcoin ETF. The demand for Bitcoin is evident, as it plays a significant role in the blockchain world, she said.
She also highlighted the company’s initiative to unveil the inaugural US-registered mutual fund utilizing a public blockchain for transaction processing and recording share ownership.
Bitcoin Price Slips Below The Rising Channel
The Bitcoin price has slipped below the rising channel, allowing the bears to exert downward pressure. The bears are in control of the price, pushing it further immediately after it tested the channel’s lower boundary in a bid to rebound to a bull rally.
The price is also trading below the 50-day simple moving average (SMA), coinciding with the channel’s lower boundary. However, the 200-day SMA indicates the probability of a rebound, supporting the Bitcoin price.
The relative strength index (RSI) trades downwards below the 50 midline level towards the 30 oversold levels, indicating intense selling pressure.
Bitcoin Price Bulls Target $36,392 Support To Rebound For A Bull Rally
Bitcoin bullish traders and investors are eyeing $36,392 as a secure landing point for the Bitcoin price. The retest of the lower boundary of the channel verifies the ongoing downtrend.
If the current momentum sustains, the price may drop to $36,392, equivalent to distance X within the ascending channel.
This level indicates a double bottom pattern, allowing the bulls to drive the price up, anticipating reclaiming the previous high at $49,102.
This ongoing dip is an excellent opportunity for investors to add more BTC to their portfolios. One good option is Bitcoin Minetrix, which analysts say likely will offer lucrative returns on investment once it launches on exchanges.
Bitcoin Minetrix (BTCMTX) Presale Blasts Past $9 Million
The Bitcoin Minetrix (BTCMTX) presale has surged past $9 million mark as it heads for its next target of $9.9 million.
As of Stage 21, you have the opportunity to join other investors in acquiring BTCMTX tokens at a price of $0.013. You have less than four days left before the presale moves on to the next stage and the price increases.
#BitcoinMinetrix Stage 21 has officially begun! ⏩
What role do you see #CloudMining playing in the future of #Bitcoin mining? ⛏️ pic.twitter.com/XEaz8ZL4Qi
— Bitcoinminetrix (@bitcoinminetrix) January 21, 2024
Bitcoin Minetrix is a cloud mining platform that empowers users with full control over their mining endeavours, enabling them to engage in decentralized Bitcoin mining through the stake-to-mine functionality.
The platform also helps ensure users aren’t scammed by third-party cloud mining platforms. To mine on the BTCMTX platform, you need an Ethereum-compatible wallet like MetaMask to purchase and stake BTCMTX tokens.
Exploring the advantages of #BTC cloud mining!
🚀 Beginner-friendly experience: no need for technical expertise.
💸 Budget-friendly: avoid hefty electricity and hardware costs.
🌐 Bid farewell to space constraints, noise, and heat disturbances.
🔄 Forget about resale concerns! pic.twitter.com/MlwYKwoKLa— Bitcoinminetrix (@bitcoinminetrix) January 13, 2024
The Minedrop Airdrop Competition offers a chance for you to compete for a $30,000 prize pool, where you could be one of the fortunate ten winners to receive a $3,000 reward.
Moreover, when you stake your tokens, you could also earn rewards in the staking pool and an annual pay yield of 73%. Currently, over 574 million tokens have already been staked.
Zach Humphries, a crypto analyst on YouTube with over 123k subscribers, explains the advantages of leveraging its staking-to-mine feature. He emphasizes that purchasing the presale early is the optimal way to reap the benefits.
To buy BTCMTX tokens and join the presale, visit the BTCMTX website, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.
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