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The Bitcoin price fell 0.5% in the last 24 hours to trade at $46,169 as of 9:30 p.m. EST, with trading volume plunging 17% to $43 billion.
The falls comes as Cathie Wood, the CEO of ARK Invest, upgrades her forecast for the BTC price. She now says it could hit $1.5 million by 2030, a 50% increase from her previous prediction of $1 million.
Updated 2030 #Bitcoin price prediction:
Cathie Wood, CEO of ARK Invest
Bear case: $250,000
Base case: $600,000
Bull case: $1.5MBig: pic.twitter.com/GjsY67i8Nj
— Altcoin Daily (@AltcoinDailyio) January 11, 2024
Wood’s turned even more bullish because of the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
After a decade of attempts, the SEC finally granted approval for 11 BTC ETFs on Wednesday. Wood described the SEC’s decision as a “green light” for the cryptocurrency market.
The Bitcoin Price Price Pulls Back, Can The Bulls Sustain The Momentum?
After the Bitcoin price successfully broke above the upper boundary of the bullish pennant, the bulls were able to catapult the prices higher, covering distance X, the same measure of distance on the pennant as shown on the chart, reaching the $49,000 threshold.
However, traders expected the price to come down because when the price breaks above the pennant and covers the distance X up, it always comes down to the point of breaking out before taking off again.
This may be temporary, as it may allow the bulls to regroup at this point to catapult the price above the $ 49,000 high.
The Bitcoin Price Prediction: BTC Indicators Still Bullish
The BTC indicators are still bullish, with the price holding above the 50-day and 200-day simple moving averages (SMAs).
The Relative Strength Index (RSI) has seen a short decline to 61 but still trades above the 50 midline level, indicating that the bullish momentum is still on
The bullish pennant still signals that the bulls have the opportunity to flare the price up as bullish investors focus on achieving a higher level above the $49,000 mark.
If the bears sustain the momentum, the price could reach the $45,000 level, wiping out the profits made on distance X.
As traders await a bullish signal to add more positions, investors looking to diversify their portfolios are buying BTCMTX. This Bitcoin derivative promises to ride on Bitcoin’s success, offering early investors a potential 100X return on investment.
Bitcoin Minetrix Presale Crosses $8 Million, 4 Days Before It Enters Last Stage
The Bitcoin Minetrix (BTCMTX) presale is closing in on its final stage, having already generated over $8.2 million of its $9.1 million target. Investors are hurrying to secure the remaining portion at $0.0128 per token before the price increases to $0.0129.
The #PhoenixGroup secures a $187 million deal with @BITMAINtech for #Bitcoin mining machines, following their recent IPO and partnerships.
What's your take on their strategic moves?💡#BitcoinMinetrix also achieves another milestone and surpasses $8,200,000! 🎉 pic.twitter.com/zoLvO5vxw6
— Bitcoinminetrix (@bitcoinminetrix) January 11, 2024
Buy BTCMTX, Stake, Join $30,000 Minedrop Competition
Bitcoin Minetrix is a decentralized platform for tokenized cloud mining, enabling ordinary individuals to engage in Bitcoin (BTC) mining. Through its stake-to-mine feature, investors who buy into the presale earn passive income.
Exploring Safety and Security with #BitcoinMinetrix! 🔒#BTCMTX ensures fund security with user-owned tradable #Tokens.
Conventional Cloud Mining: Requires cash deposits. pic.twitter.com/LGbwxbJHck
— Bitcoinminetrix (@bitcoinminetrix) January 10, 2024
Bitcoin Minetrix users only require an Ethereum-compatible wallet like MetaMask to purchase and stock BTCMTX tokens. Staking BTCMTX yields non-tradable ERC-20 token credits, which must be burned to acquire BTC cloud mining power.
When you stake your BTCMTX tokens, you are guaranteed an annual percentage yield (APY) of 82%.
Furthermore, you get to join the $30,000 minedrop airdrop competition and stand a chance to win a $3,000 reward.
Alessandro De Crypto, a crypto analyst and YouTuber with over 12,000 subscribers, has featured BTCMTX in one of his videos. He shares valuable insight on acquiring Bitcoin Minetrix and optimising returns through its staking-to-mine feature.
https://youtu.be/gjmC2GJqroI
To participate in the presale, simply visit the BTCMTX website, connect your digital wallet to swap your ETH or USDT for BTCMTX tokens, or buy directly using your bank card.
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