Bitcoin Price Prediction: As Franklin Templeton Says TradFi Underestimates BTC’s Scale, This New ICO Raises $634k In A Week Even As Crypto Slumps
The Bitcoin price climbed 2% in the last 24 hours to trade at $60,645 as of 03:11 a.m. EST on trading volume that surged 30% to $34 billion. This comes as Jenny Johnson, Franklin Templeton’s CEO, says that traditional finance (TradFi) is underestimating the enormous scale of Bitcoin transactions. In 2023, the Bitcoin blockchain processed over $36.6 trillion in transactions as the market recovered from a tough year, more than Visa and Mastercard combined, Johnson said. Bitcoin Price Aims For A Bullish Rally The Bitcoin price has been trading within a sideways pattern, as the bulls and the bears battle it out within a consolidation phase. BTC has been trading between the $61,000 resistance and the $56,670 support, according to data from GeckoTerminal . The price of Bitcoin has now crossed above the 50-day Simple Moving Average (SMA) as the bulls aim to prompt a bullish stance to the upside. If the bullish rally continues, the price of Bitcoin could surpass the immediate resist...