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The Bitcoin price surged 4% in the last 24 hours to trade at $44,756 as of 5 a.m. EST on daily trading volume that skyrocketed 47% to $24.5 billion.
The BTC pump was helped by news that MicroStrategy bought over $37 million in Bitcoin in January, bringing its total holdings to 190,000 BTC worth $8.5 billion. and its unrealized profits to north of $2.2 billion
Soon after that news, Bitcoin’s price soared past the resistance at $43k, which was keeping it from progressing further up for over a week.
Bitcoin Price Prognosis
Bitcoin’s new price surge is currently still ongoing, meaning that the coin has yet to reach a resistance that will stop its progression. The biggest upcoming resistance sits at $45k, and if BTC manages to breach it, the next one will be at around $46.5k.
However, it remains to be seen whether BTC will be able to reach that high up, especially given the fact that the technical indicators suggest otherwise. The coin’s Bollinger bands, which saw massive widening yesterday, suddenly narrowed, which could be an indicator that BTC is about to see a correction.
In addition to that, Bitcoin’s Relative Strength Index (RSI) level has reached 70.14, officially stepping into the overbought territory. There is still some room for growth, although these figures suggest that BTC is closing in on its ceiling, which might cause traders to start selling before long.
It is also worth noting that BTC has managed to break out of the symmetrical triangle pattern, which is a bullish signal. Despite this, this could still end up being a bull trap, so traders are advised to be cautious.
A Promising Alternative To Bitcoin
While Bitcoin’s new surge brought quite a bit of money to the coin’s holders, there is a cryptocurrency that has an even greater potential to bring major earnings to those who buy early.
The project in question is called Bitcoin Minetrix (BTCMTX) — a cloud mining platform for Bitcoin that is selling its native token, BTCMTX, in a presale right now.
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Bitcoin Minetrix seeks to allow people to mine BTC using its cloud technology, meaning that they would not need expensive mining rigs or end up having massive electricity bills.
Furthermore, obtaining BTC through mining is the best way for those on a budget to get as much BTC as possible before the upcoming halving.
The procedure is simple — all you need to do is buy BTCMTX and stake it on Bitcoin Minetrix’s platform. In return, you will receive credits that will let you receive BTC mining rewards.
Bitcoin Minetrix understands that many in the crypto community are not ready to trust cloud miners, especially since many such projects in the past ended up being fraudulent. This is why Bitcoin Minetrix made its platform fully transparent and decentralized, eliminating such concerns in the process.
So far, it appears that the community was willing to accept and trust the project, as its presale raised over $10.5 million as of the time of writing, currently aiming at the $11.2 million milestone. If you wish to join, you can buy its BTCMTX token in exchange for ETH or USDT, or buy it directly with a credit or debit card.
The token’s price is now $0.0133, but in less than two days there will a price hike. So, if you are interested to invest, act not for the lowest possible price.
Visit and buy BTCMTX here.
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