Kaspa Price Prediction: KAS Surges 31% In A Week, But Investors Flock To This Bitcoin Cloud Mining Token With 100X Potential

The Kaspa price surged more than 31% over the past 7 days to trade at $0.1865 as of 2:30 a.m. EST.

The Kaspa Price Forms A Bullish Price Channel

4-hour chart for KAS/USDT  (Source: TradingView)

The Kaspa price was able to break out of a consolidation channel between $0.135675 and $0.152655 over the past few days, and printed a series of higher highs and higher lows in the following 48 hours. This resulted in the formation of a positive price channel on the altcoin’s 4-hour chart, which also led to the crypto overcoming the $0.171 resistance level. A sustained close above this threshold could give KAS the foundation needed to continue rising in the next 48 hours.

This bullish thesis may be invalidated if the Kaspa price breaks below the $0.171 price point, which is also confluent with the lower boundary of the aforementioned ascending price channel. In this alternative scenario, the crypto could be at risk of falling back into the consolidation channel between $0.135675 and $0.152655. Continued sell pressure could then force the Kaspa price below the sideways channel to potentially test the $0.117810 support level in the short term.

The Kaspa Price May Correct Soon

Technical indicators on the altcoin’s 4-hour chart suggest the crypto’s bullish momentum has cooled down slightly. More specifically, the Moving Average Convergence Divergence (MACD) indicator shows that bulls may be starting to shift their attention away from KAS. The negative gradient of the MACD Histogram could be an early sign of the Kaspa price’s bullish trend transitioning to a bearish cycle. 

Another indicator that hints at a potential correction is the Relative Strength Index (RSI) on the 4-hour chart. Although the RSI is positioned bullishly well above its Simple Moving Average (SMA) line signaling bullish strength, the RSI is in overbought territory. Traders may see this as a sell signal since the downside potential for KAS is greater than its upside potential. A possible early indication of a price pull back may be when the Kaspa price falls below the middle level of the current rising price channel. The altcoin may subsequently retest the immediate support level at $0.171.

As the Kaspa price attempts to continue its ascent, Bitcoin Minetrix has blasted past $11.2 million in its presale as investors bet big on the innovative cloud mining project.

Investors Rush To This Potential 100X Opportunity

#Bitcoin mining stocks surge as @canaanio leads with a 21% jump, signaling a strong recovery amid positive #BTC price dynamics. 📈@CleanSpark_Inc breaks yearly highs, overtakes @RiotPlatforms in market cap.

The resilience of the mining sector shines through! 💰#BTCMTX also… pic.twitter.com/kCvNBzq4ZV

— Bitcoinminetrix (@bitcoinminetrix) February 19, 2024

Bitcoin Minetrix is a Bitcoin cloud mining project that has attracted a substantial amount of attention from investors. This is evident in its presale, which has surged past $11.2 million in funds raised. 

The stellar performance of the project’s ICO could be the result of the increased demand for BTC following the launch of spot Bitcoin ETFs (exchange-traded funds) in the United States. With institutional investors entering the mix, investors are actively seeking opportunities to grow their BTC holdings beyond just speculative trading. Bitcoin mining, more specifically BTC cloud mining, is an attractive option as it gives investors access to a passive income stream that is paid in BTC.

However, the Bitcoin cloud mining industry has been plagued with scammers. In addition to this, the barrier to entry for anyone looking to get started with BTC cloud mining has been set unreasonably high, with through-the-rood start-up costs. These issues may soon be left in the past soon through the introduction of Bitcoin Minetrix’s platform.

Simplifying Bitcoin Cloud Mining For Everyone

Through decentralization, the platform removes the reliance on a single entity for cloud mining operations – making BTC cloud mining more secure. The platform’s unique stake-to-mine model also makes BTC cloud mining as easy as staking an ERC-20 token.

To get started, investors will need to purchase the project’s native token, BTCMTX, which is currently selling for $0.01365. Investors can purchase the altcoin using either Ether (ETH), Tether (USDT) or bank card. 

Once purchased, the BTCMTX token will need to be staked in exchange for “gas” reward tokens. These tokens will need to be burned in order for investors to claim a stake in Bitcoin Minetrix’s cloud mining power and start earning BTC.

Crypto analyst and YouTuber Jacob Bury says BTCMTX has the potential to 100x on launch.

BTCMTX can be purchased here.

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