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The Bitcoin price has plunged 3% in the last 24 hours to trade at $104,193 as of 3:05 a.m. EST on a 12% jump in trading volume to $95 billion.
This plunge in the Bitcoin price comes as MicroStrategy co-founder and executive chairman Michael Saylor says that the incoming president, Donald Trump, is serious about setting up a strategic Bitcoin reserve.
Michael Saylor just says, “I think Trump is serious about a National #Bitcoin Reserve.”
IT’S HAPPENING!!! 🚀pic.twitter.com/8xqnykmSss
— Vivek⚡️ (@Vivek4real_) December 16, 2024
Saylor added that all the capital outside the US and all the 20th-century antiquated capital is going to flow into digital assets and the Bitcoin network.
“The logical thing for the US is to buy it now and own the future,” he said.
Bitcoin Price Slumps Along The Parabolic Curve
Bitcoin (BTC) is currently trading at $103,976, reflecting a 2.03% decline or a drop of $2,155 points from the previous session. The chart highlights two significant support levels: $90,840 and a lower one near $80,000.00.
These levels have previously acted as strong zones where buying activity pushed the price higher. On the upside, a target price has been identified around $115,000, representing a key resistance level where Bitcoin may face selling pressure if the uptrend continues.
BTCUSDT Analysis Source: Tradingview
A bullish signal in the form of a Golden Cross, where the 50-day moving average (yellow) crosses above the 200-day moving average (green). This crossover indicates a strong upward momentum and a potential continuation of the bullish trend. Additionally, the price action follows a curved upward trendline, indicating steady buying pressure over time.
Meanwhile, the Relative Strength Index (RSI), currently at 63.62, suggests that Bitcoin is in bullish territory but not yet overbought, as it remains below the 70 threshold. This gives the bulls the opportunity to drive the Bitcoin price upward before entering overbought conditions.
Bitcoin’s price is showing positive momentum toward the $115,000.00 target, but traders should monitor support levels and the RSI for any signs of a potential reversal or price retracement.
Best Wallet Presale Closes On $5 Million
While the Bitcoin price is taking a breather, some investors are turning to Best Wallet (BEST), a new crypto wallet token that has raised over $4.8 million in presale funding.
Crypto YouTuber and influencer Crypto ZEUS, who has over 81.9K subscribers, said that the BEST token might be the best wallet token to hold for the next bull run.
Best Wallet (BEST) is an innovative crypto wallet project designed to provide investors and traders with the tools needed to store, manage, and grow their crypto portfolios securely.
The wallet stands out with its non-custodial structure and multi-chain support, allowing users to manage assets across various blockchain networks securely. Additionally, users can unlock exclusive benefits by purchasing the platform’s native BEST token.
Holding BEST tokens grants investors early access to promising new projects entering the crypto market, alongside perks like reduced transaction fees, higher staking rewards, and participation in community governance.
However, it’s the “Upcoming Tokens” feature that’s drawing big investor interest. This feature highlights the most exciting presales in the market, helping holders discover and capitalize on emerging opportunities.
It’s already established a good track record and recently flagged Catslap ($SLAP) to investors before its price went parabolic.
Join Best Wallet and gain all the tools you need to stay ahead. 💎
With features like exclusive access to Upcoming Tokens and rewards for early adopters, it’s no surprise we’re the fastest-growing crypto wallet.
Download now 📲 https://t.co/he5kzra7TY pic.twitter.com/xf2pY03CZw
— Best Wallet (@BestWalletHQ) December 16, 2024
BEST is selling for $0.02325 right now, and investors can buy it using crypto or bank cards. Buy before a price hike in a little more than 1 day to secure the best deal.
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Best Wallet - Manage Your Crypto
- Access DeFi and Web3 Dapps Across Multiple Chains
- Comes With Your Own OpenAI Powered Chat Bot Assistant
- Get Early Access to Upcoming Token Launches & ICOs
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