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The Stacks price surged by 33% in the last 24 hours to trade at $1.23 as of 5:35 AM EST, with trading volume crossing the $1 billion mark after seeing a 633% surge.
A part of the surge may have been spurred by a prediction by digital assets hedge fund North Rock Digital. The hedge fund said on X that Stacks has among the best prospects of all altcoins and is poised for a rerating by investors.
Between the expected BTC spot ETF approval, BTC halving and, most importantly, foundational Nakaomoto STX upgrade, the next few months should represent an inflection point for STX. Full thesis update below.
— Hal Press (@NorthRockLP) December 1, 2023
The fund explained that its experts target assets with strong fundamentals, supportive tokenomics, and significant upcoming catalysts when looking for long ideas. STX ticked all the boxes and stood out, with the most compelling catalyst path over the next few months and a great chance to rerate.
Stacks Price Prognosis Amid Hedge Fund’s Prediction
STX price has already seen significant progress over the first few days of December. On December 1, the token’s value sat at $0.68. However, after seeing a 77% surge over the past five days, the token climbed as high as $1.23 earlier today.
The token’s Relative Strength Index (RSI) results show that Stacks was approaching the point where its tokens would be oversold, but the bulls once again took control and increased the buying pressure.
The same can be seen in the token’s price, recovering after being rejected by a resistance at $1.20.
STX now needs to breach the resistance belt between $1.20 and $1.30. This zone rejected price in the second half of March, when STX also saw a significant surge.
However, the crypto sector has grown significantly stronger since then, which means that STX now has a real fighting chance. Of course, there will be several other resistances to breach along the way, including the ones at $1.50 and $1.75.
Promising Alternative To Stacks
Bitcoin Minetrix (BTCMTX) is one of the best alternatives to Stacks and one of the hottest ongoing presales.
Unlike other platforms, Bitcoin Minetrix is a 100% decentralized and transparent platform that allows users to mine Bitcoin by staking its native BTCMTX token.
The process is quite simple — users purchase and stake BTCMTX, and they receive credits for mining BTC.
What is #BitcoinMinetrix?🛠️🪙#Bitcoin Minetrix is a tokenized cloud mining platform that allows everyday people to mine $BTC in a decentralized way.
Solving a huge problem by removing the risk of third-party cloud mining scams and putting the control into the hands of users. pic.twitter.com/LOY6lpZMja
— Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
With Bitcoin halving only a few months away, mining demand is at an all-time high. However, with the mining gear still being as expensive as ever, mining the coin is not universally available.
This is where Bitcoin Minetrix comes in, and its offer has attracted countless opportunity seekers who joined its presale.
So far, the project has raised $4.85 million, with the price of its token being $0.012 at the time of writing.
But there’s only a limited amount of time left with a price increase coming in less than 48 hours.
You can buy it in exchange for ETH or USDT, or via a bank card.
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