Bitcoin Price Remains Below $35,000 as New Crypto Cloud Mining Project Presale Hits $3 Million Mark

Updated: 04 November 2023

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Bitcoin price have struggled to attract buyers above $35,000, while the Bitcoin Minetrix presale has gained significant traction and recently surpassed $3 million. The price rapidly rose to $36,000 but quickly retraced. It’s common to see minor corrections after rapid surges like this.

Currently trading at approximately $34,720, with a 0.19% increase in the last 24 hours, Bitcoin entered overbought territory. Traders are striving to maintain Bitcoin’s price above the crucial resistance level at $35,000.

The stable Exponential Moving Average (EMA) lines and Bitcoin’s attempt to surge above EMA20 provide hope for another upward movement. If this level holds, it signifies a positive trend, and bulls may make another push toward $40,000.

A successful breach of the expected resistance in the $40,000 region could lead to a return to Bitcoin’s all-time high. However, with the Relative Strength Index (RSI) trading below the midline, sellers may gain an advantage.

If sellers manage to consistently keep the price below EMA20, the support level is lost, and closures below the $33,000 level could result in a pullback to $32,500 and $31,300. As we approach the Bitcoin block reward halving event in April next year, there are expectations of new all-time highs.

Bitcoin’s breakout also opens up opportunities in altcoins, as traders seek promising risk-reward prospects in the emerging bull run. Bitcoin Minetrix has garnered significant interest from professional traders and investors, as evidenced by the increasing support for its pioneering Bitcoin cloud mining venture.

Bitcoin Minetrix Democratizes Bitcoin Mining with Stake-to-Mine Mechanism

Bitcoin mining plays a crucial role in the Bitcoin network’s functionality. Bitcoin Minetrix aims to democratize mining, making it an appealing and valuable prospect for serious investors searching for compelling applications.

In addition to this, Bitcoin Minetrix’s efforts will enhance the overall security and decentralization of the Bitcoin network. Bitcoin mining has primarily been the domain of those well-versed in technology and knowledgeable in the field.

This is because it requires specialized knowledge, substantial upfront investments, high energy expenses, and space for noisy mining rigs. For the average retail investor, cloud mining has been the only practical option.

However, retail investors often fall victim to cloud mining scams, leading to a loss of trust in such platforms. Bitcoin Minetrix is changing this landscape by allowing people to stake $BTCMTX tokens on their Ethereum-based platform to earn Bitcoin mining credits.

These credits can be exchanged for cloud mining power, effectively earning them free Bitcoin. Getting started only requires an Ethereum-compatible wallet and the decentralized $BTCMTX token eliminates the risk of cloud mining scams.

Furthermore, the platform has undergone a smart contract audit, ensuring its commitment to security in the realm of cloud mining. This use case opens up Bitcoin mining to everyone, regardless of their expertise or financial capacity.

Watch the video above for the full Bitcoin Minetrix presale update, and subscribe to his YouTube channel for additional crypto-related content. Furthermore, Jacob Crypto Bury runs a Discord channel with 17,000 members, offering a space for members to access trading insights and stay informed about upcoming crypto presales.

Bitcoin Minetrix Presale Generates Significant Interest as Investors Seek Passive Income Opportunities, Celebrates with $30k Minedrop

$BTCMTX is an ERC-20 token with a total supply of 4 billion tokens. Of this supply, 42.5% is designated for the presale, 35% for marketing efforts, 12.5% for staking, and 10% for the community. With over $3.2 million already raised and a fast sellout of presale tokens, Bitcoin Minetrix has clearly generated significant interest.

The primary source of this excitement lies in $BTCMTX’s potential to offer a simple method of generating passive income. At the current staking rates, $BTCMTX holders can achieve an impressive 180% APY just by staking their tokens, and approximately 231 million $BTCMTX tokens have already been staked.

#BitcoinMinetrix Stage 5 is Live! 🔥 pic.twitter.com/OIZcFFIUeX

— Bitcoinminetrix (@bitcoinminetrix) November 2, 2023

Each $BTCMTX token is currently priced at $0.0114 in the ongoing stage five of the presale, which is set to conclude in the next three days. The presale comprises a total of 20 stages, with a 10% price increase each week, continuing until the funding goal is met or the allocation is fully sold out.

Once the presale concludes, the next significant milestone for Bitcoin Minetrix’s developers will be securing listings on various crypto exchanges. To mark its presale event, Bitcoin Minetrix is hosting a ‘Minedrop’ with a total value of $30,000 in $BTCMTX tokens.

These tokens will be distributed among ten fortunate winners, each of whom will have up to six opportunities to win. Participating is as easy as completing straightforward tasks, such as following Bitcoin Minetrix’s social media accounts. To take part in the $BTCMTX presale visit bitcoinminetrix.com.