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The Bitcoin price tumbled 1% in the last 24 hours to trade at $43,525 as of 11:50 p.m. EST as trading volume surged 60% to $17 billion.
Despite this slight drop, Quant analyst Plan B foresees a 10x surge for BTC.
Plan B expresses confidence in the initial phases of Bitcoin adoption to his over 90k YouTube subscribers.
‘’I don’t foresee diminishing returns as we currently stand at 2 or 3% adoption,” he said. “Following the logistic S-curve and Metcalfe’s law, we will unlikely experience diminishing returns until we reach 50% adoption. I expect a substantial 10x increase, potentially bringing Bitcoin to a range between $100,000 and $1 million.’’
The Bitcoin Price Forms Bullish Pennant In Consolidation Stage
The Bitcoin price remains in an accumulation stage, shaping a bullish pennant that signals a potential continuation of the upward trend. The bulls are gearing up to propel the price beyond the $45,000 threshold.
The BTC price maintains a favourable position above both the 50-day and 200-day simple moving averages (SMAs).
The bullish sentiment is further affirmed by the occurrence of a golden cross at the pivotal level of $28,450.
The Relative Strength Index (RSI) indicates a rebound on the 50 midline level trading at 55. However, with a little push, the RSI could reach the overbought level of 70.
The Bitcoin Price: Bulls Prepare For Rally Above $45,000 Resistance
BTC bulls are on the verge of overcoming the $45,000 resistance, aided by forming a bullish pennant, providing a chance for an upward push.
A sustained effort may break the $45,000 barrier, propelling the BTC price upward, with bullish investors targeting the $50,000 milestone.
Meanwhile, as Bitcoin traders anticipate a breakout, investors are quickly buying Bitcoin cloud mining token BTCMTX, partly in anticipation of the approval of spot Bitcoin ETFs.
BTCMTX Presale Raises $7.8 Million, Nears $8 Million Milestone
The Bitcoin Minetrix (BTCMTX) presale is closing in on its $8 million target, with just a few hundred thousand remaining. The presale has already secured over $7.8 million, and investors have about 67 hours to participate at the current discounted rate of $0.0127 before it rises to $0.0128 in the next stage.
Exciting Update! 📢#BitcoinMinetrix proudly reveals another major milestone, exceeding $7,500,000 raised! 🪙 pic.twitter.com/r4LHnlqd4T
— Bitcoinminetrix (@bitcoinminetrix) January 5, 2024
BTCMTX is a cloud mining platform where you can engage in decentralized Bitcoin (BTC) mining. The platform tokenizes cloud mining to guarantee a secure and transparent user experience through the stake-to-mine feature.
#BTCMTX presents a reliable cloud mining solution for the entire #CryptoCommunity. 🌟
Previous worries regarding expensive hardware and deceptive cloud mining schemes have discouraged numerous individuals.
This decentralized approach guarantees a protected mining adventure. 🔐 pic.twitter.com/n0I9rNyxr6
— Bitcoinminetrix (@bitcoinminetrix) January 7, 2024
The innovative stake-to-mine concept holds the potential to make Bitcoin mining accessible to everyday cryptocurrency enthusiasts for various reasons.
Get BTCMTX Now, Stake, Join $30000 Minedrop, Airdrop
Furthermore, when you hold BTCMTX tokens, you are guaranteed a substantial annual percentage yield (APY) of 83%. You only require an Ethereum-compatible wallet, such as MetaMask, to buy and stake BTCMTX tokens.
The platform also hosts a minedrop airdrop competition with a prize pool of $30,000, offering a chance for ten eligible winners to win $3,000 each.
Conor Kenny, a crypto analyst and YouTuber with over 173k subscribers, features BTCMTX in one of his videos, sharing valuable insights on acquiring Bitcoin Minetrix and maximizing returns using its stake-to-mine functionality.
To participate in the presale, visit the BTCMTX website and connect your digital wallet to swap your ETH or USDT for BTCMTX tokens, or buy directly using your bank card.
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