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The Bitcoin Price dropped 0.36% in the last 24 hours to trade at $42,400 as of 7:40 a.m. EST, with daily trading volume plunging 17% to $20.21 billion.
The slight price decrease comes as Matthew Sigel, VanEck’s Head of Digital Assets Research, expresses bullish sentiment on Bitcoin.
During a podcast, Sigel said that Bitcoin could surge to an all-time high of around $69,044 in the fourth quarter of this year.
“So this year looks like a solid year. We think Bitcoin will make an all-time high in Q4 like after a contentious election,” said Sigel.
Bitcoin Price Maintains Uptrend Within The Rising Channel
The Bitcoin price continues the bullish momentum, maintaining the current uptrend within the rising channel as the bear’s stance is rejected at the $41582 zone, coinciding with the lower boundary of the channel, presenting the opportunity for the bulls to regroup.
If the bullish momentum sustains, the price could break above the $49,000 resistance level, recording a new high.
Bitcoin Price Bulls Target To Reclaim $49,000 Mark
Bullish investors are targeting a breakthrough that could break beyond the $49,000 mark.
The bullish momentum is evident, as prices are trading above the 50-day and 200-day simple moving averages (SMAs). A golden cross formed at the pivotal level of $28,500, a confirmation of the bullish sentiment.
The relative strength index (RSI) remains over the 30 level, nearing the critical 50-midline level at 45, signaling that the market is preparing for a bull rally. If the bullish momentum continues, the RSI could rise to the 50 level, indicating overbought positions.
However, if the bears intervene, the price could slip below the rising channel as $35,700 level fosters a safe landing spot for the bulls.
Meanwhile, Bitcoin Minetrix (BTCMTX) might be an investment opportunity you do not want to miss with some analysts saying it may be the best crypto to buy right now.
Bitcoin Minetrix Raises Over $8.7 Million, Aiming For The $9.5 Million Mark
The final stage of the Bitcoin Minetrix (BTCMTX) presale is closing in, with over $8.7 million in funding secured.
Big accomplishment for #BitcoinMinetrix!
Surpassing the $8,600,000 milestone! 🌐 pic.twitter.com/r3i9wdtSbg
— Bitcoinminetrix (@bitcoinminetrix) January 17, 2024
The project is currently aiming to reach the $9.5 million target within the next three-plus days, with its soft cap set at $15 million. BTCMTX tokens are priced at $0.0129 each.
Bitcoin Minetrix is a decentralized platform that allows its users to earn rewards by contributing to Bitcoin hashing power through the Ethereum network, without the needed expertise.
Stake To Mine, Huge Returns
The project allows any individual to engage in Bitcoin (BTC) mining through the stake-to-mine feature. Through staking, users can easily generate mining credits for BTC access to cloud mining.
Embedded within an #Ethereum smart contract, the $BTCMTX #Token serves as the gateway to access #Bitcoin cloud mining. 🔓
Users can easily purchase and deploy #BTCMTX tokens to acquire cloud mining credits, which are exchangeable for hashing power. ⚒️ pic.twitter.com/PGas2CPjx6
— Bitcoinminetrix (@bitcoinminetrix) January 15, 2024
Alongside the stake-to-mine setup, Bitcoin Minetrix also offers a complementary staking protocol for BTCMTX, providing an annual percentage yield (APY) of 74%. Over 559 million BTCMTX tokens have already been staked.
Additionally, you can also participate in the $30,000 minedrop competition, where rewards will be distributed among ten lucky winners. Each winner will get $3,000.
The popular YouTube crypto channel, CryptoNews, highlighted Bitcoin Minetrix in its latest video. Host Ari is optimistic foresees a potential surge in BTCMTX’s price after its successful presale and subsequent launch.
To take part in the presale, visit the BTCMTX official website, connect your digital wallet, and swap your ETH or USDT for BTCMTX. You can also purchase directly using your bank card.
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