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With independent blockchains like Bitcoin and Ethereum facing challenges related to scalability, high fees, and slow transaction times, many cross-chain solutions have developed new protocols to aid fast, cheap, and decentralized crypto trading.
THORChain is one of the successful cross-chain platforms for decentralized token swaps. And its RUNE token is one of the hottest utility tokens within the last month. At press time, RUNE has accrued an 8% increase to reach $1.67 per token over the last 30 days. Its recent bullish trend has experts predicting it can reach $5 within the next two years.
Is this a realistic expectation, considering there’s the biggest presale of the year going on? Keep reading!
RUNE Price Prediction: THORChain Bulls Still Need More Market Control
Within the last 24 hours, RUNE has experienced over 10% growth in its price, finding itself among the top cryptocurrencies to buy.
The price increase has also resulted in a 10% growth in its market capitalization, now over $560 million. Currently, RUNE sells at $1.67, and the significant price increase indicates that THORChain bulls are controlling the market.
In fact, over the past 30 days, the coin’s value has constantly increased from around $1.5 in early September to nearly $1.7 in the second week of October, offering investors a decent profit on their initial investments.
$RUNE update
nothing has changed
still extremely bullish. best case scenario we use previous resistance as support or we slightly go under for a fake out(trap short) to the middle of the BB then up. one way or another, we are going up fam! spread the word @THORChain @JohnnyZcash pic.twitter.com/93FoJRAaEJ— frenchland (@cryptoLOIRE) October 6, 2023
However, while the fundamentals suggest a bullish trend among RUNE traders, the technicals do not agree. According to the technical analysis data from TradingView, THORChain bears mainly control the market.
The token’s 24-hour moving averages (MA) show a “Sell” sentiment at nine and a “Buy” sentiment at 5. That means there are more THORChain sellers than buyers presently.
Similarly, the 1-month MA for the RUNE/USD pair shows a “Sell” sentiment at five and a “Buy” sentiment at 3. The oscillators also indicate a neutral trend among traders, while the exponential moving average shows a “Buy” action. That means the upward movement in the price of RUNE over the past month does not accurately represent the actual market sentiment toward the token.
In other words, the token’s bulls still need to do more to sustain the recent bullish trends. With more sell pressure from the market, it’s only a matter of time before the token’s price corrects and drops. And with a lower support level, the chances of RUNE reaching $5 soon are slim.
However, while the THORChain (RUNE) price prediction is optimistic and the token may be a good investment in the short-term, Bitcoin Minetrix provides investors with a different long-term investment opportunity through its ongoing presale.
Bitcoin Minetrix Offers an Alternative Investment Opportunity: Should You Buy?
Seasoned investors understand the importance of keeping a diversified investment portfolio, and Bitcoin Minetrix is a viable investment option for investors looking for long-term gains. The Bitcoin Minetrix presale has attracted many investors – thanks to its unique approach to crypto staking and Bitcoin mining.
Though many crypto staking opportunities exist on the market, Bitcoin Minetrix has a special stake-to-earn feature offering users over 1000% returns per annum. With more users joining the network, the APY is expected to reduce. However, early investors would have locked in significant profits.
Another reason the new crypto project has captured the market is its unique Bitcoin mining feature that allows everyday crypto users to mine BTC decentralized. Investors who join the Bitcoin Minetrix mining platform can earn Bitcoin rewards like actual miners without worrying about mining hardware, software, or rigs.
As the 2024 Bitcoin halving approaches, investors are eyeing a standout solution: Bitcoin Minetrix ($BTCMTX).
This staking-based cloud mining project raised $800,000 in just two weeks, gaining immense traction.
With Bitcoin Minetrix, you stake $BTCMTX tokens to earn Mining…
— Hamid (@HaMidOwAiSi3) October 9, 2023
With these massive incentives, it’s easy to see why the BTCMTX project has attracted crypto influencers and caused a bullish trend among investors during its ongoing presale. At the time of writing, Bitcoin Minetrix has raised over $1.2 million in its first presale stage, which began less than a month ago.
With more project development ahead, including token listing on decentralized exchanges (DEXs) and other top Bitcoin exchanges, BTCMTX is an exciting project for the future.
Join the BTCMTX Presale As it Progresses
Less than 3 days are left before the Bitcoin Minetrix presale enters Stage 2. Interested investors who want to access the future of Bitcoin Mining can join the presale by purchasing some BTCMTX tokens.
Tokens are currently selling at a discounted price of $0.011, and you can buy in before the price increases in the next presale stage. Take advantage of the lower token price here.
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