{"id":450860,"date":"2023-10-24T11:13:07","date_gmt":"2023-10-24T11:13:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=450860"},"modified":"2023-10-24T11:13:07","modified_gmt":"2023-10-24T11:13:07","slug":"conflux-cfx-adoption-in-china-boosts-its-value-by-18-however-dont-overlook-bitcoin-minetrixs-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/conflux-cfx-adoption-in-china-boosts-its-value-by-18-however-dont-overlook-bitcoin-minetrixs-potential","title":{"rendered":"Conflux (CFX) Adoption in China Boosts Its Value by 18%; However, Don&#8217;t Overlook Bitcoin Minetrix&#8217;s Potential"},"content":{"rendered":"<p>Conflux (CFX) price recorded a 40% surge over the past five days, up around 17% in the last 24 hours. The daily surge is steered by around a 340% increase in trading volume as CFX consolidation is exhausted.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24Cfx&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$Cfx<\/a><\/p>\n<p>Seems Like Consolidation Is Over &amp; Cfx Finally Preparing For Massive Breakout Incase Of Successful Breakout Expecting Move Towards 0.50$&#128165;<a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Cfx?src=hash&amp;ref_src=twsrc%5Etfw\">#Cfx<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Cfxusdt?src=hash&amp;ref_src=twsrc%5Etfw\">#Cfxusdt<\/a> <a href=\"https:\/\/t.co\/kgRyEzsG7T\">pic.twitter.com\/kgRyEzsG7T<\/a><\/p>\n<p>&mdash; World Of Charts (@WorldOfCharts1) <a href=\"https:\/\/twitter.com\/WorldOfCharts1\/status\/1716619642393784606?ref_src=twsrc%5Etfw\">October 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Featuring among the daily gainers, Conflux is a hot topic on Crypto X as investors anticipate a bullish wave. Nevertheless, it remains to be seen whether the uptrend will be sustainable.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today is a day of green. &#127807;&#128154;<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/MINA?src=hash&amp;ref_src=twsrc%5Etfw\">#MINA<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PEPE?src=hash&amp;ref_src=twsrc%5Etfw\">#PEPE<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/HEX?src=hash&amp;ref_src=twsrc%5Etfw\">#HEX<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/INJ?src=hash&amp;ref_src=twsrc%5Etfw\">#INJ<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CFX?src=hash&amp;ref_src=twsrc%5Etfw\">#CFX<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLS?src=hash&amp;ref_src=twsrc%5Etfw\">#PLS<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24MINA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MINA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PEPE<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24HEX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$HEX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$INJ<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24CFX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$CFX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24PLS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PLS<\/a> <a href=\"https:\/\/t.co\/GoIr3TM5cM\">pic.twitter.com\/GoIr3TM5cM<\/a><\/p>\n<p>&mdash; Ox 102 &#128046; (@ox102ox) <a href=\"https:\/\/twitter.com\/ox102ox\/status\/1716722565266444720?ref_src=twsrc%5Etfw\">October 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The rally comes on a broader market rally, with altcoins benefiting from the overflows of the Bitcoin (<a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\" target=\"_blank\" rel=\"noopener\">BTC<\/a>) surge. In this respect, the king of crypto is pumping hard amid speculation that a spot BTC exchange-traded fund (ETF) could soon launch in the market. This comes after <a href=\"https:\/\/insidebitcoins.com\/news\/blackrock-ceo-larry-fink-says-bitcoin-rally-about-flight-to-quality-and-pent-up-interest\" target=\"_blank\" rel=\"noopener\">BlackRock<\/a> iShares Bitcoin Trust secured listing on the Depository Trust and Clearing Corporation (DTCC), with the IBTC ticker symbol.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust &amp; Clearing Corporation, which clears NASDAQ trades). And the ticker will be <a href=\"https:\/\/twitter.com\/search?q=%24IBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$IBTC<\/a>. Again all part of the process of bringing ETF to market.. h\/t <a href=\"https:\/\/twitter.com\/martypartymusic?ref_src=twsrc%5Etfw\">@martypartymusic<\/a> <a href=\"https:\/\/t.co\/8PQP3h2yW0\">pic.twitter.com\/8PQP3h2yW0<\/a><\/p>\n<p>&mdash; Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1716529570759704832?ref_src=twsrc%5Etfw\">October 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Also, the affirmation of Grayscale Investment&rsquo;s victory drives the surge after a US court ordered the US Securities and Exchange Commission (SEC) to review the firm&rsquo;s application for its Bitcoin Trust (GBTC) to <a href=\"https:\/\/insidebitcoins.com\/news\/blackrock-etf-revolution-propels-inqubeta-bittensor-altcoins-to-new-heights\" target=\"_blank\" rel=\"noopener\">ETF<\/a> conversion.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">4&#65039;&#8419; Court of Appeals to the Rescue!<\/p>\n<p>&#128073; The recent mandate by the Court of Appeals is essentially asking the SEC to review their decision on <a href=\"https:\/\/twitter.com\/hashtag\/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw\">#Grayscale<\/a>'s application once more. <a href=\"https:\/\/t.co\/qEeDfzg15b\">pic.twitter.com\/qEeDfzg15b<\/a><\/p>\n<p>&mdash; Keyur Rohit (@CryptoKingKeyur) <a href=\"https:\/\/twitter.com\/CryptoKingKeyur\/status\/1716742179945955437?ref_src=twsrc%5Etfw\">October 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Recently, the Conflux network revealed that its co-founder and chief technology officer, Ming Wu, joined hands with Global business development lead Dora and met with His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. This was part of efforts to support digital and virtual asset initiatives.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Last week, our Co-founder &amp; CTO, Ming <a href=\"https:\/\/twitter.com\/spark_ren?ref_src=twsrc%5Etfw\">@spark_ren<\/a> , and Global BD Lead, Dora <a href=\"https:\/\/twitter.com\/realdora_eth?ref_src=twsrc%5Etfw\">@realdora_eth<\/a>, had an engaging dialogue with His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.<\/p>\n<p>We're excited to support digital and virtual asset initiatives in RAK and are eager to leverage&hellip; <a href=\"https:\/\/t.co\/qwtpO5Xi6T\">pic.twitter.com\/qwtpO5Xi6T<\/a><\/p>\n<p>&mdash; Conflux Network Official (@Conflux_Network) <a href=\"https:\/\/twitter.com\/Conflux_Network\/status\/1716446998474248483?ref_src=twsrc%5Etfw\">October 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Conflux Price Prediction As CFX Looks To Fill An Imbalance<\/h2>\n<p>After a 17% run, Conflux price tests the fair value gap (FVG) extending from $0.1398 to $0.1541. An FVG is an order block representing inefficiency in the market because many orders were injected here. As such, it creates an imbalance. To balance off this inefficiency, Conflux price has to tag this zone to fill the resting orders.<\/p>\n<p>Based on the outlook in the daily chart below for the CFX\/USDT trading pair, Conflux price has already tagged the first FVG, filling the orders within it. As such, investors should not be surprised if the price starts correcting.<\/p>\n<p>However, those looking to open new long positions should wait for CFX to break and close above the midline of this zone. This is termed consequential encroachment (CE), resting around the $0.1466 level.<\/p>\n<p>In a highly bullish case, the gains could extend for Conflux price to test the second FVG ranging from $0.1606 to $0.1703. Again, for a confirmed move north, CFX must breach its CE at around $0.1650.<\/p>\n<p>The Relative Strength Index (RSI) at 63 and pointing north supports the bullish outlook, indicating momentum is still rising. Its position below 70 shows there remains more room north before talks of CFX being overbought set in.<\/p>\n<p>The Awesome Oscillator (AO) is also optimistic, with its histogram bars now turned greedy. This points to dominance by the bulls.<\/p>\n<figure id=\"attachment_450862\" aria-describedby=\"caption-attachment-450862\" style=\"width: 1209px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20.png\"><img decoding=\"async\" class=\"wp-image-450862 size-full\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20.png\" alt=\"Conflux price\" width=\"1209\" height=\"529\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20.png 1209w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20-300x131.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20-1024x448.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/10\/CFXUSDT_2023-10-24_11-53-20-768x336.png 768w\" sizes=\"(max-width: 1209px) 100vw, 1209px\"><\/a><figcaption id=\"caption-attachment-450862\" class=\"wp-caption-text\"><a href=\"https:\/\/www.tradingview.com\/x\/FHfDAmH4\/\" target=\"_blank\" rel=\"noopener\">TradingView: CFX\/USDT 1-day chart<\/a><\/figcaption><\/figure>\n<h4><strong>Converse case<\/strong><\/h4>\n<p>A rejection from the CEO of the first FVG, however, reinforced by the resistance due to the 100-day Exponential Moving Average (EMA) at $0.1437, could see the Conflux price retract to flip the 50-day EMA at $0-.1244 back to resistance.<\/p>\n<p>In the dire case, Conflux price could drop below the $0.1134 support level, potentially approaching the $0.1000 range low.<\/p>\n<p>Meanwhile, you should not overlook <a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" target=\"_blank\" rel=\"noopener nofollow\">BTCMTX<\/a>, a new presale token making headlines as it gives investors a low bar entry into the <a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> market. Experts say it has 10X growth potential for investors even as its presale tokens sell out swiftly.<\/p>\n<p><iframe title=\"Bitcoin Minetrix NEW 10X Potential Crypto?! $BTCMTX Raises $2,100,000 as Bitcoin Pumps!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/TcfdmKYKIfo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Conflux Alternative<\/h2>\n<p>BTCMTX is the powering token for the Bitcoin Minetrix ecosystem, a <a href=\"https:\/\/insidebitcoins.com\/news\/new-stake-to-mine-crypto-presale-with-potential-for-high-returns\" target=\"_blank\" rel=\"noopener\">new stake-to-mine crypto presale with the potential for high returns<\/a>. Interested investors should head to the website and buy BTCMTX at stage 3 rates of $0.0112 using Ethereum (<a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-ethereum\" target=\"_blank\" rel=\"noopener\">ETH<\/a>) or Tether (USDT) stablecoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinMinetrix<\/a> is now in Stage 3! &#128293; <a href=\"https:\/\/t.co\/Od4Syqx7EA\">pic.twitter.com\/Od4Syqx7EA<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1716380211363602628?ref_src=twsrc%5Etfw\">October 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The <a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin Minetrix ecosystem<\/a> introduces an efficient cloud mining solution for the cryptocurrency community. Specifically, it demolishes challenges relating to expensive equipment and swindles by cloud miners.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw\">#BTCMTX<\/a> introduces an efficient cloud mining solution for the <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> community.<\/p>\n<p>Previous concerns about expensive equipment and cloud mining deceptions held many back.<\/p>\n<p>This decentralized strategy ensures a transparent and protected mining venture.&#9874;&#65039; <a href=\"https:\/\/t.co\/FPZHxkB74j\">pic.twitter.com\/FPZHxkB74j<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1716726274482172083?ref_src=twsrc%5Etfw\">October 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The project has decentralized and tokenized the entire process as part of its working mechanics. BTCMTX holders only need to stake their holdings for credits. These credits can thereafter be redeemed for mining hash power. The novel stake-to-mine concept makes Bitcoin mining accessible even to ordinary crypto folks.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Showing how <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinMinetrix<\/a> differs from typical cloud mining. &#9935;&#65039;&#129689;<\/p>\n<p>1&#65039;&#8419; Using ERC-20 <a href=\"https:\/\/twitter.com\/hashtag\/Tokens?src=hash&amp;ref_src=twsrc%5Etfw\">#Tokens<\/a> removes the need for transactions.<\/p>\n<p>2&#65039;&#8419; Users control their mining power via earned credits from staking.<\/p>\n<p>3&#65039;&#8419; Smart contracts on <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> automate security and decentralized staking. <a href=\"https:\/\/t.co\/EyxaQQ6EIR\">pic.twitter.com\/EyxaQQ6EIR<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1716122311701483522?ref_src=twsrc%5Etfw\">October 22, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Visit the Bitcoin Minetrix website to buy BTCMTX tokens at current rates <a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" target=\"_blank\" rel=\"noopener nofollow\">here<\/a>. Notably, the price will increase in the next three days.<\/p>\n<h3>Also Read:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/bitcoin-minetrix-price\">Bitcoin Minetrix Price Prediction &ndash; BTCMTX Price Potential In 2023<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/experts-predict-this-new-stake-to-mine-crypto-could-10x-at-launch-the-future-of-cloud-mining\">Experts Predict This New Stake-to-Mine Crypto Could 10x at Launch &ndash; The Future of Cloud Mining?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/traders-flock-to-new-crypto-presale-with-launch-of-stake-to-mine-protocol-btcmtx\">Traders Flock To New Crypto Presale With Launch of Stake-to-Mine Protocol &ndash; $BTCMTX<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Best Wallet - 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The daily surge is steered <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1911,"featured_media":450867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-450860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Conflux (CFX) Adoption in China Boosts Its Value by 18%; However, Don&#039;t Overlook Bitcoin Minetrix&#039;s Potential - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Conflux (CFX) price recorded a 40% surge over the past five days, up around 17% in the last 24 hours. 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