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The Bitcoin Cash price has surged 7% in the last 24 hours to trade at $282.9 as of 9:44 a.m. EST.
BCH’s pump was likely helped by the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF on Jan. 11, the original fund being a significant holder of Bitcoin Cash.
'Grayscale Concept Coins' typically refer to cryptocurrencies invested in by Grayscale Investments.
Influenced by the successful conversion of GBTC into a spot ETF, these tokens have generally increased in value.
Among them, $LPT, $ZEN, and $BCH have all seen a 24-hour… pic.twitter.com/wYRbmjEoux
— SoSo Value (@SoSoValueCrypto) January 12, 2024
Bitcoin Cash Price Prediction
Looking at 1-hour BCH/USD charts, the Bitcoin Cash price could be headed towards a correction. The Awesome Oscillator (AO) is reverting towards the midline with red histograms suggesting a solid bear trend on Bitcoin Cash.
The Average Directional Index (ADX), also used in gauging trends, is moving south. This asserts bear pressure on the Bitcoin Cash price. The Relative Strength Index indicator is also on a southern trajectory, recently overbought, suggesting selling pressure on the token.
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1-hour BCH/USD Charts | Source: TradingView
Investors seeking additional projects poised for exponential growth in 2024 may find a solid option in Bitcoin Minetrix. This initiative emerges as a compelling alternative amid the looming correction in the Bitcoin Cash price.
BTCMTX’s token presale has secured $8.2 million out of the targeted $9.1 million, underscoring the robust faith investors have in the project.
Bitcoin Cash Price Prediction: Does BTCMTX Have More Upside?
Bitcoin Minetrix, driven by the mission to reduce cryptocurrency mining expenses, allows users to commence mining operations using BTCMTX. This innovative approach spares users from the financial burden of acquiring costly specialized equipment.
Investors utilizing their earned gas tokens gain exclusive access to cloud mining capabilities. This unique strategy ensures active participation in the ecosystem, fostering a balanced distribution of rewards.
Discovering the perks of #BTC cloud mining!
💡 Entry-level simplicity: no technical know-how needed.
💰 Cost-efficient: skip high electricity and hardware expenses.
🏠 Say goodbye to space, noise, and heat disruptions.
🔄 No resale worries – let mining companies handle upgrades! pic.twitter.com/enQbatCTpz— Bitcoinminetrix (@bitcoinminetrix) January 6, 2024
BTCMTX tokens are easily acquired through the project’s website, supporting various payment methods such as bank cards, Ether, and Tether. Priced at $0.0128 per token, these assets can be staked to generate returns.
Crypto analyst Jacob Bury, a prominent figure on YouTube, envisions the possibility of the token’s value surging tenfold upon its introduction, leaving open the possibility that the token could easily replicate Bitcoin’s 1,085% pump in five years.
With the impending halving event scheduled for April, analysts are speculating on a coming Bitcoin bull run. Bitcoin Minetrix thus positions investors to witness a substantial increase in their investments upon the platform’s debut.
Tokens are nearly sold out and the price will rise in less than four days. Investors are strongly advised to act promptly. Secure BTCMTX tokens safely through the official website and explore this groundbreaking cloud mining initiative’s myriad advantages.
Don’t miss out on participating in this cutting-edge cloud mining enterprise.
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