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The Bitcoin price skyrocketed again in the last 24 hours, reaching nearly $35,000 for the first time since May 2022. Of course, the cost was still spiraling down back then, with the bear market being at its strongest.
Bitcoin started seeing a price surge around a week ago when the news emerged that the SEC gave the green light to a Bitcoin spot ETF proposal, launching BTC to $29k. However, when it was revealed that this was a fake report, the price corrected, only to start a real, steady growth.
Bitcoin in Promising Position for Long-Term Rally
Bitcoin has surprised the market by jumping $4k in 4 hours earlier today. Traders now see a massive potential for the coin’s long-term performance, with some suggesting that BTC is in a perfect position to start a long-term rally. Usually, something like that requires a major beneficial event, such as the ETF approval or the Bitcoin halving.
However, halving will not happen for another six months, and while the SEC has not yet approved any of the ETF proposals, the ETF optimism is believed to be the leading cause for the rally.
It is worth noting that Bitcoin bears lost around $178 million as the price broke the $34k barrier, according to data from Binance, Huobi, and OKX. This comes as bearish bets on Bitcoin backfired due to the surge. However, whether BTC will continue to climb remains to be seen.
Bitcoin Minetrix Presale Explodes as BTC Price Surges
One of the projects that could benefit enormously from Bitcoin’s price surge is Bitcoin Minetrix (BTCMTX). This new project is still holding its presale, but in only a few weeks, it managed to raise over $2.1 million thanks to its offer that interested many Bitcoin fans.
Bitcoin Minetrix is a decentralized, transparent cloud mining platform that allows users to stake their tokens, receive credits, and use those credits to mine BTC. This is an excellent opportunity for the user to mine new coins without buying expensive equipment or paying substantial electricity bills.
Also, since the project is fully decentralized, it differs from many of the cloud mining platforms seen in the past, which turned out to be scams.
Bitcoin Minetrix is well aware that the users’ confidence in cloud mining has been shaken, so it aims to restore it. Those interested in buying its token can get it in exchange for ETH, USDT, or buy directly with a credit card.
Right now, the token’s price is $0.0112, but in 4 days, it will see a price increase, so buying it now opens up an opportunity to get it cheaper.
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