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bitcoin price printed a bitcoin/”>slight loss over the last 24 hours to trade at $70,130.03 at 8:55 am EST as investors sell some of their holdings in the crypto king.
The btc price drop is just part of a short-term holding pattern, according to Bitwise Chief Investment Officer Matthew Hougan. He believes up to $1 trillion will be pumped into bitcoin through exchange-traded funds (ETFs) as investment products continue to gain traction. In a memo sent to investment professionals, he added that the best thing to do now is to “stay calm and take a long-term view” as btc bounces between $60,000 and $70,000.
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1% down; 99% to go. Reflections on the launch of the ETF.
An excerpt from Bitwise CIO twitter.com/Matt_Hougan?ref_src=twsrc%5Etfw”>@Matt_HouganWeekly memo for investment professionals.
Cryptocurrency markets have been volatile lately, with bitcoin bouncing between $60,000 and $70,000. The media is very concerned about…
– Bit by bit (@BitwiseInvest) twitter.com/BitwiseInvest/status/1773005602752491548?ref_src=twsrc%5Etfw”>March 27, 2024
bitcoin price falls below a positive trend line
4-hour chart for btc/USDT (Source: x/G7nkLzQe/”>TradingView)
He bitcoin The price fell below a positive trend line that formed on its charts over the past week. If btc fails to regain a position above this mark in the next 24 hours, then it could consolidate or risk a correction in the short term.
In a consolidation phase, the leading cryptocurrency could swing between the immediate support at $68,863.99 and the main resistance at $71,641.54. bitcoin price falling below the key support at $68,863.99 could be seen as a sell signal. Therefore, traders can drag btc to the next significant mark at $65,847.29 in the next 48 hours.
On the other hand, if btc closes a 4-hour candle above the aforementioned ascending trend line in the next 24 hours, it could invalidate this bearish thesis. Investors and traders will most likely try to push btc above the $71,641.54 threshold before attempting to lift bitcoin price to a new all-time high beyond $73,777.
bitcoin Price May Pull Back as Bearish Flags Emerge
Technical indicators in btc The 4-hour chart suggests that bitcoin price could fall in the next 24 to 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are signaling a bearish trend.
The MACD line recently crossed below the MACD signal line. This is often seen as a sign that a cryptocurrency has entered a negative cycle. Since this intersection took place on the 4-hour chart, this trend may be short-term.
Sellers also appear to have the upper hand over buyers on the btc 4-hour chart, with the RSI positioned below the simple moving average (SMA) line. The former is also separating below the latter, suggesting that the bears are getting stronger and may push the price of bitcoin lower in the next 24 hours.
As bitcoin price attempts to recover above its positive trend line, Dogecoin20 offers investors one last chance to buy before its launch.
The next version of DOGE
Since its creation in 2013, Dogecoin has gone from a lighthearted joke to the leading cryptocurrency within the meme coin sector. Backed by a large community of loyal followers, the beloved meme coin has even managed to attract the attention of tech billionaire Elon Musk. However, apart from this popularity, no new development has come to the Dogecoin ecosystem since the project's original developers abandoned the crypto shortly after launch.
Dogecoin20, a new meme coin that aims to take over the cryptocurrency world, marks the first significant update to the DOGE brand and technology. Launched on the ethereum blockchain, Dogecoin20 follows the ERC-20 token standard. This not only makes it compatible with most wallets and platforms currently on the market, but also makes Dogecoin20 a greener version of the legacy Dogecoin that was implemented on the Proof of Work blockchain.
Token holders also have access to a lucrative staking program. Anyone who purchases the Dogecoin20 token, DOGE20, can lock their tokens for up to 82% in annual rewards.
Investors rush to get their hands on DOGE20
Investors have flocked to the Dogecoin20 pre-sale, causing the ICO to sell out and raise over $10 million. Given this overwhelming success, the team behind the meme coin decided to give investors one last chance to purchase DOGE20 before its launch.
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Always follow the twitter.com/hashtag/DOGE20?src=hash&ref_src=twsrc%5Etfw”>#DOGE20 way… twitter.com/hashtag/Dogecoin20?src=hash&ref_src=twsrc%5Etfw”>#Dogecoin20 twitter.com/hashtag/DOGE?src=hash&ref_src=twsrc%5Etfw”>#DOGE twitter.com/hashtag/Altcoin?src=hash&ref_src=twsrc%5Etfw”>#Altcoin twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#web3 twitter.com/hashtag/Memecoin?src=hash&ref_src=twsrc%5Etfw”>#Memecoin pic.twitter.com/bL7my2sB09
—Dogecoin20 (@DOGE_COIN20) twitter.com/DOGE_COIN20/status/1773666472386031880?ref_src=twsrc%5Etfw”>March 29, 2024
DOGE20 sells for $0.00022 and can be purchased using eth, USDT, BNB, or bank card. Investors still have time to purchase the cryptocurrency at this early stage, but they will want to hurry as its launch is less than 22 days away.
DOGE20 can be purchased here.
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