{"id":483562,"date":"2024-02-26T10:20:21","date_gmt":"2024-02-26T10:20:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=483562"},"modified":"2024-02-26T10:20:21","modified_gmt":"2024-02-26T10:20:21","slug":"bitcoin-price-prediction-btc-surges-23-in-a-month-but-analysts-say-this-bitcoin-cloud-mining-token-might-10x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-surges-23-in-a-month-but-analysts-say-this-bitcoin-cloud-mining-token-might-10x","title":{"rendered":"Bitcoin Price Prediction: BTC Surges 23% In A Month, But Analysts Say This Bitcoin Cloud Mining Token Might 10X"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price dropped by a fraction of a percentage in the last 24 hours <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><span style=\"font-weight: 400;\">to trade at $51,515<\/span><\/a><span style=\"font-weight: 400;\"> as of 00:19 a.m. EST on trading volume that plunged 13% to $14 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This comes after Ki Young Ju, CEO of CryptoQuant, revealed that there is a notable surge in Bitcoin accumulation among superholders. This indicates a strategic move preceding the cryptocurrency&rsquo;s price surges.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> inflows into accumulation addresses have reached an all-time high of 25.3K <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<a href=\"https:\/\/t.co\/HrkV3TUGJT\">https:\/\/t.co\/HrkV3TUGJT<\/a> <a href=\"https:\/\/t.co\/FSLUHNlVCZ\">pic.twitter.com\/FSLUHNlVCZ<\/a><\/p>\n<p>&mdash; Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1760114830206554495?ref_src=twsrc%5Etfw\">February 21, 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;\">Bitcoin has surged 23% in the last month, with Bitcoin inflows into accumulation addresses reaching an unprecedented high of 25,300 BTC and still growing. These addresses have no outgoing transactions, have a balance exceeding 10 BTC, and exclude accounts associated with centralized exchanges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Bitcoin investors continue to accumulate BTC, will its prices soar?<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Is Consolidating, Aims to Break Out<\/span><\/h2>\n<figure id=\"attachment_483564\" aria-describedby=\"caption-attachment-483564\" style=\"width: 1281px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-483564\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-02-26_08-19-36.png\" alt=\"Bitcoin Price Chart Analysis Source: Tradingview.com\" width=\"1281\" height=\"555\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-02-26_08-19-36.png 1281w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-02-26_08-19-36-300x130.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-02-26_08-19-36-1024x444.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-02-26_08-19-36-768x333.png 768w\" sizes=\"(max-width: 1281px) 100vw, 1281px\"><figcaption id=\"caption-attachment-483564\" class=\"wp-caption-text\">BTCUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Bitcoin price has been on an upward movement since the start of February, evident with the markup phase. The bulls were able to sustain bullish momentum, supported by the inverse head and shoulders pattern, before encountering rejection at $53,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, after the rejection, the bulls and the bears are struggling to take control of the price. This has led to a consolidation phase, as the bulls aim to surpass the upper boundary of the ascending triangle pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">BTC is trading above the 200-day Simple Moving Average (SMA), which indicates sustained bullish momentum. If the bulls sustain this momentum, BTC will overcome the 50-day SMA hurdle, driving the price even higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the 50-day SMA is trading above the 200-day SMA, with a golden cross formed at $42,875. The golden cross is an indication that the price is on a sustained bullish rally. The Relative Strength Index (RSI) is around the 50-midline level at 51, supporting the consolidation sentiment with the possibility of a breakout.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-483565\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024.png\" alt=\"BTCUSD_2024 MACD\" width=\"1281\" height=\"555\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024.png 1281w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-300x130.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-1024x444.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/02\/BTCUSD_2024-768x333.png 768w\" sizes=\"(max-width: 1281px) 100vw, 1281px\"><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the Moving Average Convergence Divergence (MACD) supports the bullish momentum, with the moving average line (blue) trading above the signal line (orange), signaling more buy options for investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The extension of the green bars on the histogram above the zero line also indicates a continuous positive momentum.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Price Prediction<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The current Bitcoin price analysis suggests that BTC is set to break out of the consolidation phase, pushing the price over the ascending triangle pattern. The bulls are looking to breach the current resistance at $53,000, targeting the $55,000 psychological barrier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if the bears take control of the price at this level, they may drive the price down. The support levels at $50,600 and $49,000 act as a cushion against downward pressure.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, analysts say the Bitcoin Minetrix ICO has 10X potential on launch and thus might be a better alternative in the medium term.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">BTCMTX Presale Closing In On Its $12.37 Million Target: Be<\/span><span style=\"font-weight: 400;\">st Crypto To Buy Now?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The process of mining Bitcoin is historically known to demand large amounts of investment due to overpriced hardware costs. However, there is a transformative solution with <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Bitcoin Minetrix (BTCMTX)<\/span><\/a><span style=\"font-weight: 400;\">. BTCMTX promises to change the perception of Bitcoin cloud mining by cutting costs and fortifying security through decentralized mechanisms.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">What exactly is <a href=\"https:\/\/twitter.com\/hashtag\/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw\">#BTCMTX<\/a>?<\/p>\n<p>&#127760; <a href=\"https:\/\/twitter.com\/hashtag\/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw\">#BTCMTX<\/a> is a tokenized cloud mining platform enabling everyone to mine <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> in a decentralized manner.<\/p>\n<p>&#128274; Providing a secure and transparent journey.<\/p>\n<p>Addressing a significant issue by eliminating the threat of third-party cloud mining frauds. <a href=\"https:\/\/t.co\/OirA4EPSEt\">pic.twitter.com\/OirA4EPSEt<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1761677452982485018?ref_src=twsrc%5Etfw\">February 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;\">The project continues to attract a huge following. This presale, now in its 28th round, has successfully raised over $11.4 million, hurtling toward its $12.37 million target.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stage 28 of <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw\">#BitcoinMinetrix<\/a> is live! &#128640;<\/p>\n<p>How does the mempool affect mining strategies? &#129300; <a href=\"https:\/\/t.co\/xPz8YVnmed\">pic.twitter.com\/xPz8YVnmed<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1761722776656707994?ref_src=twsrc%5Etfw\">February 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;\">To join the presale, buy BTCMTX, going for a reduced cost of $0.0137. Buy now, as the price is set to rise in about four days.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Stake BTCMTX, Win $3,000 In Minedrop Airdrop Competition<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">BTCMTX has a staking feature that allows you to <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" rel=\"nofollow\"><span style=\"font-weight: 400;\">stake your acquired tokens<\/span><\/a><span style=\"font-weight: 400;\">, earning an impressive 59% annual percentage yield (APY), with over 700 million BTCMTX tokens already staked.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#127760; The Stake-to-Mine concept presents an innovative approach poised to reintroduce <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> mining to everyday <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> enthusiasts, for various reasons.<a href=\"https:\/\/twitter.com\/hashtag\/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw\">#BTCMTX<\/a> participants solely require an <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> compatible wallet like <a href=\"https:\/\/twitter.com\/hashtag\/MetaMask?src=hash&amp;ref_src=twsrc%5Etfw\">#MetaMask<\/a>, ensuring straightforwardness. &#128274; <a href=\"https:\/\/t.co\/IPRnX3NMzc\">pic.twitter.com\/IPRnX3NMzc<\/a><\/p>\n<p>&mdash; Bitcoinminetrix (@bitcoinminetrix) <a href=\"https:\/\/twitter.com\/bitcoinminetrix\/status\/1761798276490162437?ref_src=twsrc%5Etfw\">February 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;\">By buying and staking, you also earn a place in the project&rsquo;s <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" rel=\"nofollow\"><span style=\"font-weight: 400;\">$30,000 minedrop competition<\/span><\/a><span style=\"font-weight: 400;\">, where ten lucky winners will receive $3,000 worth of BTCMTX each.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Jacob Bury, a crypto analyst and YouTuber, BTCMTX has the potential to deliver a 10X return on investment for investors upon its launch.<\/span><\/p>\n<p><iframe title=\"Bitcoin Minetrix ICO Hits $10M - Next 10X Potential Crypto?!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/Q3LtZHfZN_w?start=1&amp;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;\">To take part in the presale, visit <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinminetrix\" rel=\"nofollow\"><span style=\"font-weight: 400;\">the BTCMTX official website<\/span><\/a><span style=\"font-weight: 400;\"> and swap your ETH or USDT for BTCMTX. 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