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The world is becoming more receptive to cryptocurrency evolution. Several countries are now lowering restrictive policies to make room for the growth of digital currencies within their borders. A recent case is Taiwan’s authority’s move towards allowing the formation of the cryptocurrency industry association. The world will likely see the next cryptocurrencies explode in the region.
Nevertheless, Bitcoin continues its persistent sideways trend as the sell wall at $72k holds its price at the discovery stage despite the growing penetration of cryptocurrencies. Ultimately, there is speculation that the halving event would act as the catalyst to restore the bullish Bitcoin trend.
Next Cryptocurrency To Explode
In the meantime, investors who missed out on buying the BTC dip of late 2022 can take advantage of emerging mining initiatives. With projects like Bitcoin Minetrix offering decentralized mining opportunities, investors can get into Bitcoin Minetrix without investing a prohibitive sum into infrastructure. Today’s post offers more information on this and how to get started.
1. Jito (JTO)
Market data shows that JTO will become one of the next cryptocurrencies to explode. The cryptocurrency has kept an uptrend for the past 30 days, with momentary pullbacks coming up. In the last 24 hours, the price of JTO increased by over 6%, adding a few more points to its value. More importantly, JTO is also advancing its worth in the crypto community by forging partnerships with other platforms.
JTO posted a slight increase in trading volume in the period, constituting over 33% of its market cap. Generally, the asset’s trading volume pump signifies increasing investor interest in the token. Thus, the chance of a continued uptrend is imminent for the new cryptocurrency.
Furthermore, JTO technical analysis suggests a potential upbeat performance for the token. At the time of writing, the asset posted an RSI reading of 56. This value implies a neutrality in the market bias. Similarly, the price of JTO might still have more room to run towards more upsides.
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The 200-day moving average readings also post signals that validate impending bullish sentiment as the price remains above the EMA. However, JTO holders might see a momentary pullback due to the readings from some oscillators applied to the chart. For example, the reading from JTO MACD data returns bearish signals.
While its ADI (14) reading remains neutral, the trend in the short term is neither strong nor weak. With that, waiting for a break above the resistance cluster at the $3.3 range is best before deciding. All the same, JTO offers a chance to earn sizable short-term returns.
2. Myro (MYRO)
Myro appears to have returned to an upswing after a momentary reversal from its all-time high. The memecoin was named after Solana founder Raj Gokal’s dog Myro. It gained popularity earlier this year when the Solana memecoin culture took hold of the entire crypto community. Today, Myro posts intraday gains of over 14%, which brings its gains in the net gains in the last 30 days to about 36%.
Data for the token’s chart shows that Myro will likely become one of the next cryptocurrencies to explode. The token is gradually posting a parabolic trend near its 0.31 resistance cluster. At the time of writing, the price, already at $0.3075, is trading close to its resistance.
Consequently, a break above the resistance level would put Myro on the path to surpassing its ATH with a few pullbacks. Signals from Myro’s technical indicators also substantiate the possibility of a continued uptrend. According to its chart, particularly the daily timeframe, Myro’s EMA200 is trailing significantly below its current price. It shows that there’s more room for further uptrend for the asset.
Also, MYRO’s neutral RSI reading is another signal that shows a more potentially bullish outlook. On the other hand, a handful of oscillators indicates that Myro may face a slight pullback as it moves closer to its ATH. Hence, it is best to take precautions when looking at the asset.
Another noteworthy factor with the recent resurgence of the Myro uptrend is that it is largely created by influencers’ activities, as there’s been a significant increase in the project’s social mentions. Thus, it’s best to implement risk management strategies when dealing with an asset.
3. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix’s presale offering has raised over $12.7 million. The next milestone of $13 million is only a few steps away, and investors still have a short window to participate in the project. The team and community behind the project remain steadfast in their vision to decentralize Bitcoin mining.
The recent argument in the cryptosphere is that it’s only a matter of time before the energy demand of Bitcoin mining infrastructures becomes too large to meet. That’s why there’s a need to look into a more decentralized mining system where miners don’t have to set up independent infrastructures.
Only 24 hours left until Stage 34 of #BitcoinMinetrix ends! 🕒
What impact do you think #Bitcoin mining has on the overall #Crypto market? pic.twitter.com/a6aQLJFlrD
— Bitcoinminetrix (@bitcoinminetrix) March 30, 2024
The new Bitcoin mining initiative, Bitcoin Minetrix, makes this possible through its BTCMTX cryptocurrency. The token allows investors to mine Bitcoin through its cloud computing technology. What Bitcoin Minetrix does differently regarding cloud mining is that it reduces the propensity of fraud and ensures users have unbiased access to computing power. The details of the project and overall tokenomics are covered on its presale page.
Visit the Bitcoin Minetrix Presale
4. CyberConnect (CYBER)
CyberConnect is finally testing the $14 range for the first time since its price decline. The cryptocurrency faced a dramatic price dump after its perpetual listing in the third quarter of last year.
However, CYBER is riding the bull trend to restore its lost value as it posted over 8% gains in the last 24 hours. With that, CYBER may beat a path to the $20 region before the end of the next quarter.
Moreover, introducing the social layer and restaking the initiative into the network opened doors to further growth potential for the token. The initiative is bound to increase fund inflow into the network and reduce the circulating supply of the asset. Thus, there’ll be an increase in demand against supply and overall value.
Technical analysis of CyberConnect shows strong bullish signals according to values read from its MACD indicator. Similarly, Cyber’s long-term and short-term moving averages remain below its current price, giving it more room to run. Ultimately, the chance of Cyber climbing above its ATH value is quite high.
However, Cyber would likely encounter a momentary pullback near its ATH value since the reading from its RSI value clearly shows that it’s trading closer to its oversold range, and its Average Directional Index readings indicate a neutral trend. Hence, CYBER may lack the momentum to hold above the ATH value. Nevertheless, the likelihood of a $20 CYBER value in the year’s second quarter is quite high.
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