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The Bitcoin Price has plunged by 0.8% in the last 24 hours to trade at $43.6K as of 2:00 a.m. EST.
Bitcoin Price Outlook: Technical Analysis
An in-depth analysis of 1-hour BTC/USD charts reveals a struggle between bulls and bears. This is evident from the Relative Strength Index indicator, which is moving north, suggesting bull action. On the other hand, the MACD indicator moves in the red zone showing bearish prospects.
This shows uncertainty on the Bitcoin price as it moves within range, leaving open the prospects of a break out on either side.
1-hour BTC/USD Charts | Source: TradingView
In line with this, Arthur Hayes, the former CEO of BitMEX, has predicted a 20-30% drop following a rally. In a blog post, Hayes said that he was preparing for a vicious washout of all the crypto tourists in March of this year. He loaded up on crypto in the second half of 2023 and says he won’t buy Bitcoin again until after the March washout.
Meanwhile, as the Bitcoin price plunges, Bitcoin Minetrix’s BTCMTX token presale is not showing signs of slowing down as more investors get on board the project. The presale has so far garnered over $7.6 million.
Bitcoin Price Prediction: Should You Invest In Bitcoin Minetrix As Well?
Bitcoin Minetrix, an innovative cloud mining endeavor, sets out to simplify the mining experience for everyday investors. Its groundbreaking approach has captured significant attention, propelling it into the spotlight as one of the top presales of 2024.
Do you understand the process of #CloudMining for $BTC? ⛏️🌐
Cloud mining enables engagement in #Bitcoin mining sans the necessity of owning or overseeing equipment.
💸 Eliminating initial expenses on hardware.
🛠️ Demanding only fundamental tech skills. pic.twitter.com/KVZy17uV2R— Bitcoinminetrix (@bitcoinminetrix) January 5, 2024
To partake in the mining opportunities provided by Bitcoin Minetrix, investors are required to procure and maintain BTCMTX tokens. This distinct methodology ensures passive Bitcoin earnings by securing cloud mining time or a share of profits through the utilization of these credits.
Even those with limited experience in the investment realm can effortlessly gain entry, thanks to the platform’s intuitive and user-friendly design. Bitcoin Minetrix pledges to democratize Bitcoin mining, welcoming even novice investors into the fold.
A Bitcoin Bull Run?
In anticipation of the upcoming surge in the Bitcoin price, Bitcoin Minetrix seeks to empower a wider audience while positioning itself as a lucrative investment option.
BTCMTX’s prospects are bolstered by the upcoming halving event, expected in April, which has made it an alternative investment option for Bitcoin even amid analysts’ optimistic projections for the BTC price.
Distinguishing itself from competitors, Bitcoin Minetrix employs a tokenized cloud mining technique, offering unparalleled flexibility. In contrast to platforms with extended commitments, investors on this platform can unstake and trade tokens at their convenience.
Analysts including YouTuber Jacob Bury recognize Bitcoin Minetrix’s unique selling proposition and forecast a possible 10x increase post-launch.
So, with the Bitcoin price anticipated to be heading for a bull run this year, Bitcoin Minetrix might well be an excellent way to play it.
Get your BTCMTX tokens here before they sell out.
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