Bitcoin Price Prediction: BTC Edges Higher But Bitcoin Minetrix Looks Set To Explode

Updated: 26 October 2023

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Bitcoin price shot up to $35,000 again late Wednesday, briefly breaching this level before being rejected again to $34,217. The coin has seen a strong performance over the last seven days, increasing its value by over 20%.

While a massive achievement, it seemed like BTC would be unable to breach it, and so far it hasn’t.

The price was rejected, leading it down to $33.7k, only for Bitcoin to rise again and again hit the same resistance. This time, the price was left at $33.2k, and throughout Wednesday, BTC was recovering slowly, limited by several more minor resistances.

Later, on this same day, October 25, BTC price saw a surge that took it up to $35,116, officially the coin’s yearly high. BTC did not stay above the $35k level for long. Instead, it was rejected back to $34.6k, from where it climbed to $34.8k.

For nearly 18 hours now, the coin has been stuck between these two levels, but as of the time of writing, Bitcoin’s value has dropped further down, breaking the resistance at $34,600, currently sitting at $34,217.

What is Next for Bitcoin Price?

With Bitcoin’s recent achievements in terms of price action, many optimistic price predictions have emerged. One report says that blockchain data from Santiment shows a significant growth in traders’ confidence. As a result, the report suggested that Bitcoin price could soon surge to $40,000.

Another report says that Bitcoin’s return to the $35k mark is a critical indicator that follows patterns observed in 2020 and suggests a potential surge that could propel the coin to reclaim its previous price of $65k.

Even BitMEX’s co-founder, Arthur Hayes, shared his thoughts on the matter, saying that approving a Bitcoin spot ETF would mark the actual start of the bull market, sending it into full swing.

Should that happen, another coin that’s likely to get a major boost is Bitcoin Minetrix.

Bitcoin Minetrix Presale is Closing in on $2.5 Million Raised

For now, it appears that Bitcoin’s price is struggling with a $35k resistance, but thanks to its recent rise, the coin has attracted much interest. Some of it rubbed off another project called Bitcoin Minetrix (BTCMTX).

The project offers a cloud mining platform that is entirely decentralized and transparent, unlike many of its predecessors, which ended up being fraudulent platforms.

Bitcoin Minetrix allows users to buy its token, BTCMTX, stake it, and receive credits, allowing them to mine BTC without expensive equipment or a huge electricity bill.

Since one of the project’s goals is to restore users’ faith in cloud mining, it ensures that its platform will always be fully decentralized and that token holders will always be in charge of their funds.

So far, the presale has raised $2.35 million, selling the token for $0.0112. In two days, however, the token’s price will increase again, so this is the last time to buy it before this happens.

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