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The Jupiter price has stabilized over the last 24 hours to trade down a fraction at $0.5831 as of 12:30 am EST, but sellers continue to exert pressure on the recently-airdropped crypto.
The Jupiter Price Enters A Sideways Channel
1-hour chart for JUP/USDT (Source: TradingView)
The Jupiter price is being pushed down by the 9 Exponential Moving Average (EMA) line on its 1-hour chart. In addition to this, the 9 EMA is positioned below the 20 EMA line, which signals that momentum over the past 9 hours has been more bearish than JUP’s momentum in the last 20 hours.
If the altcoin fails to reclaim a position above the 9 EMA line within the next 24 hours, it may be at risk of correcting down to the immediate support level at $0.5455. This is also the lower boundary of a consolidation channel JUP has been trading in throughout the past 48 hours.
The Jupiter Price Could Still Climb 11%
On the other hand, the Jupiter price closing a 1-hour candle above the 9 EMA line may invalidate the bearish thesis. In this alternative scenario, the crypto could print an 11% gain for traders from its current levels. A possible long entry will be when JUP breaks above the upper boundary of the sideways channel at $0.6275. Overcoming this level could clear a path for the Jupiter price to rise to $0.6985 within the following 24 hours.
As the Jupiter price consolidates, Bitcoin Minetrix is charging towards $11 million in its presale.
Over $10 Million Raised
Investors are scrambling to buy into Bitcoin Minetrix with more than $10.1 million already raised.
Big Announcement! 🎉#BitcoinMinetrix has hit a phenomenal milestone, raising over $10,000,000! 🪙 pic.twitter.com/toEsT1NvWv
— Bitcoinminetrix (@bitcoinminetrix) January 31, 2024
This high level of investor interest centers on the project’s innovative Bitcoin cloud mining platform. Through decentralization, Bitcoin Minetrix does not just make cloud mining more secure, but also drastically lowers the start-up costs for anyone looking to get started with cloud mining the crypto market leader.
Reducing The Complexity Of Bitcoin Cloud Mining
With its stake-to-mine model, Bitcoin Minetrix makes Bitcoin cloud mining as simple as staking an ERC-20 token. To get started, investors will need to purchase BTCMTX on the project’s website. The token is currently selling for $0.0132 and can be purchased with either ether (ETH), Tether (USDT) or bank card.
Identifying the distinctions between #BitcoinMinetrix and Conventional Cloud Mining! 🌐
Safety and Security: 🛡️#BTCMTX: Empowering users with decentralized, tradable #Tokens.
Conventional Cloud Mining: Mandates cash deposits. pic.twitter.com/hCkOD1UViF
— Bitcoinminetrix (@bitcoinminetrix) February 1, 2024
Once purchased, these BTCMTX tokens need to be staked. This will reward investors with “gas” tokens, which will need to be burned in order to claim a share in Bitcoin Minetrix’s cloud mining power. This will enable investors to not just profit from a potential 10X speculative opportunity, but also earn a passive income that is paid in BTC.
Bitcoin Minetrix Is Poised For A Breakout
The value of the revenue generation opportunity on offer through Bitcoin Minetrix will soon increase exponentially. As Bitcoin enters the mainstream financial markets through spot Bitcoin ETFs (exchange-traded funds), a wave of institutional capital is set to enter BTC’s charts.
This could substantially boost the leading crypto’s value. ARK Invest has already stated that Bitcoin is an optimal portfolio diversifier, and recommends a BTC allocation of just under 20%.
BTC will also become more scarce with the upcoming Bitcoin halving event in April. In the months after this key event, profit margins for small-scale cloud mining operations will be negatively impacted.
As a result, Bitcoin cloud miners may opt to utilize the Bitcoin Minetrix platform, which will take care of the overall operations while they sit back and watch the revenue come in.
These factors will not only boost the value of BTC, but will most likely also lead to the price of Bitcoin derivative projects surging as well. As a result, Bitcoin Minetrix is perfectly placed to generate two-fold profits for investors.
BTCMTX can be purchased here.
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