Crypto investors have been blindsided by Bitcoin’s most recent downward move.
Following the unexpectedly hawkish stance taken by the US Federal Reserve in its most recent interest rate and monetary policy announcement, Bitcoin fell below the $100,000 level and has continued to drop, now sitting around $94,000 after sinking 7.2% in the past day.
Cryptos across the board are seeing similar difficulties, with Ethereum down 10% and Dogecoin plummeting by 18%.
In times like these, the smartest investors turn their attention to projects that perform strongly even in the face of market difficulties. One such project is Best Wallet Token, which has defied the market dip and hit $5 million in its ongoing presale.
Bitcoin Price Plummets Toward $81,000 – Or Even Lower?
2024 has been a bumper year for Bitcoin holders, thanks to the leading cryptoasset’s official introduction to Wall Street investors. The Bitcoin ETFs, launched in January, have attracted so many buyers that the total amount of BTC held by all the ETFs combined even exceeds the holdings of Satoshi Nakamoto, the mysterious creator of Bitcoin itself.
This mass adoption by the tradfi sector, combined with the election of Donald Trump this November, eventually pushed Bitcoin above $100,000.
Unfortunately, the tide has now turned – and as the chart below shows, the short-term picture for BTC is undeniably bearish:
At the time of writing, Bitcoin has just broken out of its bullish ascending triangle chart pattern, but in the wrong direction. This kind of breakdown is especially bearish, as it represents a (potentially temporary) rejection of strongly bullish price action.
The strongest support levels for Bitcoin are approximately $81,328 and $73,478 – which would represent declines of -12% and -21% respectively.
Given the speed at which BTC has dipped, an equally fast recovery might be on the cards, but it remains too early to tell.
As Bitcoin and other major coins continue to slide, smart investors are taking the opportunity to identify new cryptocurrencies with high potential.
Best Wallet Token ($BEST) Hits $5m Raised Despite Market Panic
Despite the market downturn, the Best Wallet Token ($BEST) presale has continued to see strong investor backing, having just hit the $5 million milestone.
Available for both iOS and Android, Best Wallet provides users with secure access not only to all their cryptos, but also trading swaps, iGaming, and the hottest crypto presales you’ll find anywhere in the industry.
At the heart of the Best Wallet ecosystem is the $BEST crypto token, providing exclusive benefits such as reduced transaction fees, airdrops, iGaming perks (including free spins, deposit bonuses, and lootboxes), and early access to the very best crypto presales before anyone else, as well as new token tips.
For example, the Pepe Unchained presale was available through Best Wallet – and raised over $70m before pumping more than 600% on its DEX launch earlier this month. Meanwhile, the wallet tipped new meme coin Catslap before it went on to see similar gains after its fair launch.
$BEST token holders will also get higher staking rewards and ecosystem governance votes.
With a constantly-growing social following of more than 70,000 fans, and even more holder benefits to be revealed in 2025, Best Wallet and the $BEST token are on track to capture 40% of the $11bn market for crypto wallets by 2026.
The wallet itself is also designed to provide cutting-edge security (powered by Fireblocks MPC-CMP wallet technology), allowing users to enjoy the platform’s simple-to-use interface with total peace of mind.
The $BEST crypto price is currently $0.023275, enabling investors to acquire a large number of tokens ahead of the token’s DEX and CEX launches when the price is expected to increase.
