Bitcoin Price Prediction: Analyst Warns Of BTC Plunge And New Bear Market As Investors Look To Small-Cap Presales For Explosive Gains

ByOdero Kester

Updated: 13 December 2023

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The Bitcoin price has plunged 6% in the last seven days to trade at $41.4K as of 9:00 a.m. EST.

CryptoCapo, a pseudonymous analyst, warns of a resumed bear market for Bitcoin (BTC) and other digital assets.

Capo sees a potential short-term upswing for Bitcoin before a sharp downturn to as low as $38,000 amid an incoming bear market.

Snap | Source: Capo’s Telegram Channel

Bitcoin Price Prediction: What’s in Store For Bitcoin?

Looking at 1-hour BTC/USD charts, the 200-period moving average has exceeded the 50-period moving average to form a death cross. This suggests selling pressure accumulating as the Bitcoin price, posing it for a plunge in the short-term.

The Relative Strength Index indicator is also on a downward trajectory, backing the prospects of a bullish short-term.

However, the MACD is in the green zone, showing some uncertainty about Bitcoin price in the short term as chances of a breakout on either side remain open.

Looking at volatility, the Bitcoin price is currently facing low volatility, as shown by the Bollinger Bands, which are now close to each other. This can be attributed to decreasing trading activities that have seen the crypto king’s trading volume drop by 24% in the last 24 hours.

Meanwhile, as the Bitcoin price faces uncertainty, the Bitcoin Minetrix presale is going from strength to strength and may thus appeal to investors looking for stronger upside potential.

It’s already garnered over $5.2 million, with each BTCMTX token currently priced at $0.0122.

Bitcoin Price Prediction: Should You Opt For BTCMTX Instead?

Bitcoin Minetrix has introduced a revolutionary way to mine, potentially triggering an explosive gain on listing.

The project offers a passive revenue stream by offering cloud mining credits to BTCMTX token holders. Unlike traditional cloud mining, Bitcoin Minetrix employs an on-chain approach, ensuring efficiency, transparency, and safeguarding against fraud.

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The project incorporates stake-to-mine intelligent contracts, providing users enhanced control and security over cloud credits, mining time, and allocation.

This user-friendly and frictionless mining method could significantly increase network hash power, improving decentralization and security. Moreover, by reopening opportunities for small-scale miners, Bitcoin Minetrix aligns with the inclusive original intent of Bitcoin.

Bitcoin Minetrix has garnered support from well-known cryptocurrency influencers such as Jacob Crypto Bury and Michael Wrubel. As these influencers back the project, Bitcoin Minetrix is gaining attention within the crypto community.

Amid rising Bitcoin alternatives, Bitcoin Minetrix positions itself as a unique investment opportunity during the ongoing crypto bull run.

The project’s innovative cloud mining approach, strategic team, and favorable market dynamics make it a noteworthy project.

Poised For The Next Bull Run

With the anticipation of Bitcoin ETF approvals in the crypto community and the Bitcoin halving, which are expected to see the Bitcoin price pump, projects like Bitcoin Minetrix could stand as key beneficiaries. Bitcoin Minetrix emerges as a potential ultimate investment, capturing the momentum of the next bull market.

Bitcoin Minetrix’s BTCMTX presale is progressing amidst growing enthusiasm for its ground breaking mining approach.

With influential endorsements, unique investment positioning, and the broader market trend, BTCMTX emerges as a token to watch during this exciting phase of the crypto bull run. So, as the Bitcoin price faces uncertainty, remember to check out Bitcoin Minetrix’s BTCMTX token.

Visit Bitcoin Minetrix here.