3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

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The Bit­coin price hit a new year­ly high of $44,700 ear­li­er this week, amass­ing a mar­ket cap­i­tal­iza­tion of $869 mil­lion. How­ev­er, BTC has since depre­ci­at­ed below the $44k price point and has been con­sol­i­dat­ing below it. The BTC price today is trad­ing at $43,800, with a mar­ket cap of $860 billion.

Bitcoin’s tepid price action over the past few days has allowed alt­coins and meme coins to break­out. How­ev­er, experts believe that BTC will be back in the driver’s seat over the next week, con­sid­er­ing that the largest cryp­tocur­ren­cy still remains extreme­ly volatile in the macro time frame.

Ana­lysts reveal that the BTC price is cur­rent­ly in a cru­cial range and could dis­play a strong move on either side. Mean­while, a new BTC deriv­a­tive – Bit­coin Minetrix – con­tin­ues its impres­sive per­for­mance in the pre­sale, hav­ing raised over $5 mil­lion in two months.

Bitcoin Price Prediction – Crucial Levels To Watch

All indi­ca­tions point to the US Secu­ri­ties and Exchange Com­mis­sion approv­ing all spot Bit­coin ETF appli­ca­tions between the 5th and 10th of Jan­u­ary, next year. In such cir­cum­stances, it is high­ly unlike­ly that BTC con­tin­ues to dis­play the lack of volatil­i­ty that it has shown over the past few days.

The ques­tion now becomes whether the SEC’s approval is already ful­ly priced-in, in which case BTC could start to pull back or whether the largest cryp­tocur­ren­cy still has more upside.

Ana­lysts believe that the Bit­coin price is cur­rent­ly on a knife’s edge, and its price action over the next week will deter­mine its short-term direc­tion. Doc­tor Prof­it, a pop­u­lar cryp­to ana­lyst, high­lights that if BTC man­ages to grind-up and breach the $45,500 lev­el, it paves the way for a strong ral­ly to $48k.

On the oth­er hand, a cor­rec­tion and dai­ly close below the $42,100 lev­el would like­ly pull BTC back towards its 20-day Sim­ple Mov­ing Aver­age, which is cur­rent­ly hov­er­ing near the $39,800 price mark. The 20-day SMA has been a strong sup­port line for Bit­coin this entire bull ral­ly – con­se­quent­ly, a fail­ure to hold this sup­port could see BTC fall to the $35,000 price point.

Ana­lyst @CryptoWizardd, who has over 550k fol­low­ers on X, also believes that BTC needs to claim the $45,000 – $46,000 price range to kick­start a bull­ish con­tin­u­a­tion. Oth­er­wise, he expects BTC to dip to the $36,000 mark.

BTC’s lack of volatil­i­ty over the past few days could also be due to the upcom­ing CPI data release on Tues­day and the FOMC meet­ing on Wednes­day next week. While the mar­ket expects the Fed­er­al Reserve to con­tin­ue to pause its mon­e­tary tight­en­ing, investors are still being care­ful for any unex­pect­ed sur­pris­es. Once the FOMC meet­ing con­cludes, Bit­coin could resume its volatile price action.

Bitcoin Minetrix Hits $5 Million Milestone In Presale

While Bit­coin may be in the dol­drums in the short term, experts are con­fi­dent that the cryp­to mar­ket is on the cusp of its next bull cycle, which could see BTC reach a new all-time high next year. Con­se­quent­ly, the Bit­coin min­ing indus­try is also expect­ed to become extreme­ly prof­itable, as the val­ue of their BTC rewards surge.

There­fore, Bit­coin Minetrix – a cloud min­ing project that helps retail investors mine BTC – is gain­ing strong trac­tion over the past two months. The project’s native token – $BTCMTX – has already raised over $5 mil­lion in its presale.

Despite the prof­itabil­i­ty of the Bit­coin min­ing indus­try, retail investors have been phased out of the sec­tor, due to the monop­oly of wealthy cor­po­ra­tions. The cost of invest­ment and tech­ni­cal exper­tise required is sim­ply too high.

With Bit­coin Minetrix, even ordi­nary investors can cloud mine BTC and earn rewards, sim­ply by stak­ing the $BTCMTX token. Investors can pur­chase their tokens and stake them to earn min­ing cred­its, which can be burned for cloud min­ing time or a per­cent­age of the yields – both options lead­ing to pas­sive $BTC rewards.

Minetrix’s stake-to-mine dash­board makes the entire process intu­itive and sim­ple – all one needs is an Ethereum-based wal­let such as Meta­Mask. Even before the project’s cloud min­ing oper­a­tion is launched, investors can already start to earn stak­ing rewards, cur­rent­ly at an APY of 118%.

Bit­coin Minetrix also offers key advan­tages of oth­er cloud min­ing plat­forms. For instance, instead of the bur­den, long-term and cash-based con­tracts used by oth­er plat­forms, Minetrix users can choose to unstake and sell their tokens at any time, which reduces the risks of scams or rug pulls.

Vis­it Bit­coin Minetrix Presale

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