Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price surged almost 6% in the past 24 hours to trade for $64,855 as of 06:12 a.m. EST as trading volume soared 20%.
Markets are on the edge of their seats as the BTC halving becomes imminent. Reports indicate that the number of Google searches for “halving” has reached an all-time high.
JUST IN: Google searches for "#Bitcoin halving" is at an ATH 🐂 pic.twitter.com/MgoyYsEUyY
— Bitcoin Magazine (@BitcoinMagazine) April 18, 2024
In the same spirit, multinational media site CNN says the “halving is the World Cup of Bitcoin.”
JUST IN: CNN says the halving is the "World Cup" for #Bitcoin pic.twitter.com/dhfeQ8cehc
— Bitcoin Magazine (@BitcoinMagazine) April 18, 2024
The countdown according to CoinGecko shows only 14 hours left, with only 85 blocks remaining.
This halving comes amid market nervousness over the situation in the Middle East.
All I can say is that you NEED to be paying very careful attention to the situation in the Middle East.
If things escalate, the market will nuke in the blink of an eye.
Better be safe than sorry.
— Kyle Chassé (@kyle_chasse) April 19, 2024
Following today’s reports of Israel launching a missile attack against Iran, almost $300 million in leveraged positions were liquidated. Traders are fleeing for safety to more traditional assets like gold and silver.
Meanwhile, analysts indicate that the effective selling pressure on Bitcoin is reducing.
Bitcoin selling pressure from traders may be declining as unrealized profit margins are basically zero now.
Traders' realized price (pink line) has acted as support for prices during a bull market and it's now at ~$60K. pic.twitter.com/rQbxKQ3W1T
— Julio Moreno (@jjcmoreno) April 18, 2024
For now, volatility is at peak levels, with leveraged traders getting hurt as the Bitcoin price whiplashes in either direction.
And amid all that, Binance co-founder Changpeng Zhao (CZ) has wished markets a happy halving.
https://twitter.com/cz_binance/status/1781180083425988959
Bitcoin Price Prediction As BTC Halving Closes In
Noteworthy, Bitcoin price has managed to record a candlestick close above the $60,000 psychological level for seven full weeks in a row. It points to the bulls showing strength. As seller momentum continues to reduce, the Bitcoin price could be poised for a bullish move.
Meanwhile, there is a bullish divergence on the Relative Strength Index (RSI) in the 12-hour timeframe. This happens when the RSI records higher lows while the Bitcoin price records lower lows. This often precipitates a bullish reversal, hinting that the bearish sentiment is losing momentum. It also shows that the ongoing reversal to the upside is gaining strength.
The Awesome Oscillator (AO) is also showing green histograms that are edging toward positive territory. Moreover, the Moving Average Convergence Divergence (MACD) is pending a flip above the orange band of its signal line. If this happens, it would strengthen the ongoing uptrend to kick of a bullish cycle.
If the bulls have their way, two levels will be of interest. First, a 12-hour candlestick close above $67,818 and then a close above $71,345. These would set the tone for an extension that could see Bitcoin price ascend to record a new all-time high.
TradingView: BTC/USDT 12-hour chart
Converse Case
Conversely, the zone extending from $57,000 to $59,005 is significant seeing as there remains some uncollected liquidity residing in the March 5 low of $59,005. With this, it is possible that the Bitcoin price could record a drop into this critical zone before a strong move to the upside.
As the halving closes in, Bitcoin ownership is the new mania, and with it, the BTCMTX presale is gaining steam.
#Bitcoin halving impact: Miners are better positioned this time due to recent gains, says #Benchmark report.$BTC surged 140% in past two quarters, while $ETH and the broader #Crypto market also saw significant gains. 🛠️💰
What strategies do you think miners will employ to…
— Bitcoinminetrix (@bitcoinminetrix) April 19, 2024
Analysts say BTCMTX could record 5X or even 10X growth at launch as it offers investors easy entry into the Bitcoin market at a time of relative shortages of supply.
BTCMTX is offering a last chance to buy with the presale set to close on April 25.
Promising Alternative To Bitcoin
Bitcoin Minetrix (BTCMTX) is a cloud-mining project, where BTCMTX token holders get to stake their holdings for credits.
These credits are redeemable for mining hash power. With the entire process tokenized and decentralized, it gives investors a better deal than the traditional Bitcoin mining approach.
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
Investors looking to buy BTCMTX, the powering token for the Bitcoin Minetrix ecosystem, can do so on the official website. Each token is selling for only $0.0147. So far, presale sales have reached upwards of an enormous $13.156 million.
🚀 With the #Bitcoin halving around the corner, mining companies are gearing up for changes!
From @MarathonDH to @RiotPlatforms, keep an eye out on how they're preparing for the shift.
Who do you think will thrive post-halving? 🛠️#BitcoinMinetrix has successfully raised more… pic.twitter.com/aPtKV1rne9
— Bitcoinminetrix (@bitcoinminetrix) April 10, 2024
A price increase is coming in less than 21 hours, so buy now if you are interested.
Visit the official Bitcoin Minetrix website here to buy BTCMTX tokens.
Also Read:
- How To Buy Bitcoin Minetrix On Presale – Alessandro De Crypto Video Review
- Bitcoin Minetrix Presale Has Just Hours Left: Last Chance to Buy Before Price Rise
- 5 New Cryptocurrency to Invest in 2024: Promising Game-Changers with 1000x Potential
Join Our Telegram channel to stay up to date on breaking news coverage
