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The Bitcoin price has dropped 0.68% in the last 24 hours to trade at $42,334 as of 05:55 a.m. EST on trading volume that rose almost 7% to $15 billion.
The slight price decrease comes as SkyBridge Capital founder Anthony Scaramucci shares an optimistic take on Bitcoin’s potential trajectory after the halving event in April.
According to Scaramucci, Bitcoin could experience a conservative increase of more than 300% in the coming months.
Furthermore, he anticipates that Bitcoin’s price could witness a cycle top that is 4X higher than its halving price, predicting that Bitcoin could reach $170,000 about 18 months later.
“If Bitcoin’s at $45,000 on the halving, where it roughly is right now, it’ll be $170,000 by mid-to-late 2025,” Scaramucci said.
Scaramucci’s confidence in Bitcoin’s potential growth is not only based on the halving but also on the increasing adoption of cryptocurrencies and the growing interest from institutional investors.
He believes that Bitcoin could even reach half of gold’s market capitalization, which would represent a 10x increase from its current value.
Reminder that the #bitcoin halving takes $7 billion out of the market. ETFs are good for $10 to $15,000,000,000. It’s going to be a very hard year for naysayers that don’t understand math.
— Anthony Scaramucci (@Scaramucci) January 28, 2024
Scaramucci is not alone in his bullish outlook on Bitcoin. Many other experts and analysts also believe that Bitcoin has a bright future ahead, and the upcoming halving could be a significant catalyst for its growth.
Bitcoin Price Remains Bullish, With A Rebound On A Falling Wedge Pattern
The Bitcoin price has been on a downward trend from the $49,000 resistance level, with bulls accruing losses days after the approval of BTC spot ETFs.
However, the bulls seem to have sustained the bullish momentum after finding a quick support level at $38,542, acting as a rebound level and pushing the price up within a falling wedge pattern.
The 4-hour chart also reveals a pivot point at $42,161, with the price trading above the 50-day simple moving average (SMA), confirming the bullish sentiments. If the bullish momentum sustains, the Bitcoin price may overcome the 200-day SMA hurdle.
The Relative Strength Index indicates a rebound from the 60 level to 61, surging towards the 70-overbought region.
Bitcoin Price Prediction
Bitcoin’s trading pattern shows some fluctuations around the $42,000 mark. However, the falling wedge pattern could offer Bitcoin bullish investors a boost that could see them overcome the $44,690 resistance as they confront the nearest resistance level at $43,400.
However, if the bears continue exerting pressure, this support level may be breached, with the price dropping back to the $38,542 support, forming a double-bottom pattern, a bullish signal for a bullish trend reversal, as the bulls eye the $49,000 previous high.
As Bitcoin price investors anticipate a surge in prices, other investors are diversifying their portfolios by turning to projects like Bitcoin Minetrix (BTCMTX), which some analysts say might be the best way to play the halving.
BTCMTX Presale Surpasses $9.7 Million, Closing In On The $10.3 Million Target
The Bitcoin Minetrix (BTCMTX) presale has garnered over $9.7 million in early funding, closing in on its $10.3 million target.
2024 brings both challenges and opportunities for #Bitcoin miners: Halving slashes revenues but prompts global hash redistribution. 🚀💰
🌍 North America may lose dominance while new markets emerge. Transaction fees and mergers offer hope.#BitcoinMinetrix has also achieved… pic.twitter.com/urLNMF5xZ7
— Bitcoinminetrix (@bitcoinminetrix) January 29, 2024
You can join other investors in acquiring BTCMTX tokens at a price of $0.0131. But be fast because the rate increase in about 43 hours.
Bitcoin Minetrix is a cutting-edge model utilizing decentralized cloud mining to make cryptocurrency mining easy and affordable for small-scale investors.
Tapping into the possibilities of mining $BTC with #BitcoinMinetrix! ⚙️
Embarking into #Crypto mining with ease:
🌟 Simple initiation for beginners.
💰 Cost-effective without hardware expenses.
🌆 No worries about space, noise, or heat.
🔄 Effortless upgrades with no hassle. pic.twitter.com/uUbXWLCL2z— Bitcoinminetrix (@bitcoinminetrix) January 28, 2024
Through their platform, you can purchase BTCMTX tokens, which represent shares in cloud mining power. Thus, irrespective of your technical proficiency, you can engage in Bitcoin mining, enabling you to earn significant Bitcoin rewards.
Earn Passive Income Through Staking, Win $3,000
You can earn substantially through the stake-to-mine mechanism, where you can stake your BTCMTX tokens to earn cloud-mining credits.
Staking earns you substantial rewards in the staking pool, with a 68% annual percentage yield (APY). A total of 610 million BTCMTX tokens have already been staked.
Being a participant in the buying and staking process, you can also enter and compete for a share of $30,000 in the BTCMTX Minedrop Airdrop Competition, where you could be one of the fortunate ten winners to receive a $3,000 reward.
CryptoNews host Ari explained in a recent video why he believes the project will provide hassle-free cloud mining for Bitcoin enthusiasts, and emphasizes that participating in the presale as an early investor is the optimal way to reap the most benefits.
To buy BTCMTX tokens, visit the BTCMTX official website, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.
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