{"id":448305,"date":"2023-10-16T18:15:34","date_gmt":"2023-10-16T18:15:34","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=448305"},"modified":"2023-10-16T18:15:34","modified_gmt":"2023-10-16T18:15:34","slug":"bch-flourishes-but-the-bitcoin-minetrix-presale-could-set-new-benchmarks","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bch-flourishes-but-the-bitcoin-minetrix-presale-could-set-new-benchmarks","title":{"rendered":"BCH Flourishes, but the Bitcoin Minetrix Presale Could Set New Benchmarks"},"content":{"rendered":"

As of 9:20 a.m. EST, Bitcoin Cash is <\/span>trading at $230<\/a>,<\/u> reflecting an 8% increase in the past 24 hours. Additionally, Bitcoin Cash (BCH) experienced a substantial boost in trading activity in the last 24 hours, with its trading volume surging by 219% to reach $226 million.<\/span><\/p>\n

BCH Surge Might Be Trapped Within Descending Triangle<\/h2>\n
\"BCH
BCHUSDT Price Chart by Tradingview.com<\/figcaption><\/figure>\n

Following a rejection at $327, BCH experienced a downward trend. Nevertheless, it found support at $182 and established a double-bottom pattern, successfully resisting bearish pressure and trying to drive the price below this level.<\/p>\n

The support level has transformed into a catalyst for bullish momentum, with the bulls now in the driver’s seat and breaking out of the support zone.<\/p>\n

Further enhancing the optimistic perspective, examining the 50-day and 200-day simple moving averages shows a notable SMA crossover at $121. Moreover, the 50-day moving average immediately supports BCH’s price, currently $213.<\/p>\n

The Relative Strength Index (RSI) is recovering from its neutral level of 50, currently trending upward at 61 and approaching the overbought region, marked at 70. This suggests a surge in buying pressure, raising the likelihood of the RSI entering the overbought zone.<\/p>\n

BCH exhibits a bullish trend, further validated by candlesticks trading above the 50-day Simple Moving Average (SMA). Two critical levels to watch are $290 and $335.<\/p>\n

Meanwhile, should the descending triangle’s upper boundary prove strong resistance, bears could push the price down to the $182 support zone. This aligns with the 200-day moving average, where bulls may regroup to mount a vigorous upward push in the price.<\/p>\n

Buy BTCMTX, Participate in Stake to Mine, Earn Rewards<\/h2>\n

Bitcoin Minetrix (BTCMTX)<\/a> is pioneering a novel approach to Bitcoin mining by becoming the first tokenized Bitcoin cloud mining operation, marking a significant development in the cryptocurrency industry.<\/p>\n

Moreover, by introducing its stake-to-mine feature for high returns, BTCMTX is poised to set new benchmarks as the presale phase enters stage 2. Consequently, this could lead to significant price appreciation and increased trading volume. BTCMTX has the potential to become a major player in the cryptocurrency market.<\/span><\/p>\n

\n

#BitcoinMinetrix<\/a> vs Conventional Cloud Mining<\/p>\n

Risk Assessment: 📊#BTCMTX<\/a> = Smooth withdrawals and selling options.<\/p>\n

Traditional cloud mining = Zero reimbursements, payouts influenced by market volatility. pic.twitter.com\/JZx2fqt3bB<\/a><\/p>\n

— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023<\/a><\/p><\/blockquote>\n