{"id":479520,"date":"2024-02-10T13:31:57","date_gmt":"2024-02-10T13:31:57","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=479520"},"modified":"2024-02-10T13:31:57","modified_gmt":"2024-02-10T13:31:57","slug":"bitcoin-price-prediction-btc-nears-1-trillion-market-cap-as-year-of-the-dragon-begins-and-traders-turn-to-this-bitcoin-derivative-that-might-10x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-nears-1-trillion-market-cap-as-year-of-the-dragon-begins-and-traders-turn-to-this-bitcoin-derivative-that-might-10x","title":{"rendered":"Bitcoin Price Prediction: BTC Nears $1 Trillion Market Cap As Year Of The Dragon Begins And Traders Turn To This Bitcoin Derivative That Might 10X"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price has soared 4% in the last 24 hours <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\"><span style=\"font-weight: 400;\">to trade at $47,112<\/span><\/a><span style=\"font-weight: 400;\"> as of 7:40 p.m. EST on trading volume that surged 56% to $42 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">BTC&rsquo;s market capitalization now stands at $924 billion, approaching the $1 trillion mark as the Bitcoin price signals the conclusion of a correction period that had plunged the coin to $38,500 towards the end of January.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The &ldquo;Year of the Dragon&rdquo; celebrations in East Asia add to positive sentiment around BTC, as analysts say history shows a pattern of gains during the Chinese New Year holidays.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#119810;&#119841;&#119842;&#119847;&#119838;&#119852;&#119838; &#119821;&#119838;&#119856; &#119832;&#119838;&#119834;&#119851; &#119823;&#119854;&#119846;&#119849; &#119815;&#119834;&#119852; &#119826;&#119853;&#119834;&#119851;&#119853;&#119838;&#119837; &#128009;<\/p>\n<p>Historically, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> pumps an average of 11% during the Chinese New Year. <br>&nbsp;<br>But there is one more thing most people are not talking about.<br>&nbsp;<br>Chinese New Year will also be hugely beneficial for tokens that have a&hellip; <a href=\"https:\/\/t.co\/5HQ9Yx6enM\">pic.twitter.com\/5HQ9Yx6enM<\/a><\/p>\n<p>&mdash; Elja (@Eljaboom) <a href=\"https:\/\/twitter.com\/Eljaboom\/status\/1755945339700314289?ref_src=twsrc%5Etfw\">February 9, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Signals A Bull Rally, Riding The Cup And Handle Pattern<\/span><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-479524 size-full\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36.png\" alt=\"\" width=\"1736\" height=\"747\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36.png 1736w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36-300x129.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36-1024x441.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36-768x330.png 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSDT_2024-02-10_05-04-36-1536x661.png 1536w\" sizes=\"(max-width: 1736px) 100vw, 1736px\"><\/p>\n<p><span style=\"font-weight: 400;\">Source. Tradingview.com<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin shows signs of a bullish rally as the price forms the cup and handle pattern, which signals a continuation of the bullish trend.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bulls found support at $16381, coinciding with the lower part of the cup. This has enabled the price to rebound, resulting in a price push upward, reaching the neckline of the cup.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the bear&rsquo;s move to impose a correction, the bulls seem resilient, pushing the price back up again from the $37,785 support level,&nbsp; forming the handle part of the pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The technical indicators also indicate bullish support as the price of Bitcoin trades above the 50-day and 200-day simple moving averages (SMAs), which currently act as support for the Bitcoin price.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Relative Strength Index (RSI) indicates a rebound from the 30 oversold region, surging past the midline level of 50 into the overbought region at 72. If the bullish move continues, it could push the RSI further into the overbought zone, confirming the anticipated bull rally.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Bulls Poised To Reach $78,000<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The cup and handle pattern signals a continuation of the bullish trend, and the bullish traders aim to capitalize on this to drive the price up. If bullish momentum sustains, the bulls could be aiming to break the previous all-time high (ATH) at $69,000 to reach $78,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As BTC traders await the signal to enter more buy orders, investors are busy diversifying their portfolios to Bitcoin Minetrix token BTCMTX for lucrative returns with analysts predicting the potential for 10X gains on launch soon.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">BTCMTX Presale Secures $10.6 Million, Closes In On $11 Million Goal<\/span><\/h2>\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\/\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Bitcoin Minetrix (BTCMTX)<\/span><\/a><span style=\"font-weight: 400;\"> has surged to $10.6 million in funds raised in its presale and is rapidly closing on its $11.2 million target.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors can buy BTCMTX tokens at the current price of $0.0134 before the price increases in less than five days.<\/span><\/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> attains another remarkable milestone!<\/p>\n<p>Surpassing $10,400,000. &#128176; <a href=\"https:\/\/t.co\/6WaHtJCB4m\">pic.twitter.com\/6WaHtJCB4m<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1755941924647706698?ref_src=twsrc%5Etfw\">February 9, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Once you have bought BTCMTX tokens, you gain full control over your mining activities using the stake-to-mine feature. This functionality enables you to earn cloud mining credits by staking your BTCMTX tokens. It also allows you to participate in decentralized Bitcoin mining, providing you protection against potential scams from third-party cloud mining platforms.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Exploring the advantages of <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinMinetrix<\/a>:<\/p>\n<p>&#127760; Convenient access made easy.<br>&#128178; Enhanced efficiency with a streamlined cost structure.<br>&#128260; Enjoy peace of mind, free from concerns about resale value.<\/p>\n<p>Knowing the benefits is key! &#128640; <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMining?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinMining<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/MiningEfficiency?src=hash&amp;ref_src=twsrc%5Etfw\">#MiningEfficiency<\/a> <a href=\"https:\/\/t.co\/tBCVjFELBO\">pic.twitter.com\/tBCVjFELBO<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1750564335061966997?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Through staking your BTCMTX tokens, the platform also offers you a chance to earn passive income in the staking pool and an annual pay yield of 64%. Currently, over 655 million tokens have already been staked.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Final Call: Buy BTCMTX Now, Participate In The Minedrop Airdrop Competition<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The BTCMTX tokens allow you to participate in the <\/span><span style=\"font-weight: 400;\">Minedrop Airdrop Competition<\/span><span style=\"font-weight: 400;\">. The airdrop offers you a chance to compete for a $30,000 prize pool, where you could be one of the lucky ten winners to receive a $3,000 reward.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-479523 size-full\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/66beb9ce-7d72-4730-93a8-729f3fd7e84c.jpg\" alt=\"\" width=\"1010\" height=\"544\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/66beb9ce-7d72-4730-93a8-729f3fd7e84c.jpg 1010w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/66beb9ce-7d72-4730-93a8-729f3fd7e84c-300x162.jpg 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/66beb9ce-7d72-4730-93a8-729f3fd7e84c-768x414.jpg 768w\" sizes=\"(max-width: 1010px) 100vw, 1010px\"><\/p>\n<p><span style=\"font-weight: 400;\">Conor Kenny, a crypto analyst on YouTube with over 179k subscribers, says that BTCMTX is among the <\/span><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/most-trending-cryptocurrency\"><span style=\"font-weight: 400;\">best presale projects in 2024<\/span><\/a><span style=\"font-weight: 400;\"> and has huge potential for high returns for early entrants.<\/span><\/p>\n<p><iframe title=\"NEW Altcoin Presale Bitcoin Minetrix MINES $BTC For YOU!!!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/HY1POVOEnxg?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<p><span style=\"font-weight: 400;\">You can join the presale to buy the BTCMTX tokens on the <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\/\" rel=\"nofollow\"><span style=\"font-weight: 400;\">BTCMTX website<\/span><\/a><span style=\"font-weight: 400;\">, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Related Articles<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/insidebitcoins.com\/news\/polygon-connects-evm-chains-to-ethereum-with-insanely-efficient-type-1-prover-touted-as-technological-feat-by-vitalik-buterin\"><span style=\"font-weight: 400;\">Polygon Connects EVM Chains To Ethereum With &ldquo;Insanely Efficient&rdquo; Type 1 Prover Touted As Technological Feat By Vitalik Buterin<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/insidebitcoins.com\/news\/bonk-price-prediction-bonk-surges-13-but-cant-keep-up-with-soaring-new-solana-meme-coin-star-smog\"><span style=\"font-weight: 400;\">Bonk Price Prediction: BONK Surges 13% But Can&rsquo;t Keep Up With Soaring New Solana Meme Coin Star Smog<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/most-trending-cryptocurrency\"><span style=\"font-weight: 400;\">10+ Most Trending Cryptocurrency Projects to Buy In 2024<\/span><\/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\">PlayDoge (PLAY) - Newest ICO On BNB Chain<\/p>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-4\">\n                                        <div class=\"inContentProviderSingle--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\">Rating<\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\" style=\"width: 100%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div>\n                                    <\/div><!--\/.col-md-4-->\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <!-- *******  Desktop Provider Logo ********** -->\n                                    <div class=\"col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none\">\n                                        <img decoding=\"async\" class=\"inContentProviderSingle--img mb-3\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/playdoge.svg\" alt=\"PlayDoge\" width=\"125\" height=\"60\">\n                                    <\/div>\n\n                                    <div class=\"col-12 col-md-8\">\n                                                                                    <ul class=\"inContentProviderSingle--list\">\n                                                                                                    <li>2D Virtual Doge Pet<\/li>\n                                                                                                    <li>Play To Earn Meme Coin Fusion<\/li>\n                                                                                                    <li>Staking &amp; 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