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bitcoin price is defying macroeconomic doom and gloom to post a 3% gain as it recovers $27,000, but yield-generating bitcoin Minetrix ($BTCMTX) has raised $200,000 and could be the biggest winner.
After briefly falling below $25,000 last month and struggling to advance since hitting a high of 27,431 on September 19, bitcoin is threatening to retake that high in the near term.
There are factors that have aided the bullish movement even as storm clouds gather over the stock and bond markets.
Additionally, while stocks had a positive session on Thursday, it comes after a negative week.
The S&P500 fell from 4,452 to 4,296 and the Nasdaq Composite fell 500 points, from 13,714 to 13,200. Meanwhile, 10-year US Treasury yields continue their upward march, now at 4.66%.
And then there are US interest rates at 5.25-5.5% despite the Fed’s pause, making all risk assets look less attractive, plus a rising US dollar to watch counts too.
btc (green) v SP500 (orange) v US10Y (blue) – 12 hour candles, September 28. Source: TradingView
Is bitcoin hinting at its role as a safe haven asset?
Markets are worried that US inflation is tougher than expected and that a soft landing could be beneficial for the birds. The weakening of the narrow-based bullish sentiment that has seen the Nasdaq advance 20% this year has been evident for a few weeks now.
Fed chairman Jerome Powell’s speech Thursday has done little to calm nerves.
In recent days, bearish traders have come to the fore as a government shutdown looms and China’s real estate debt crisis deepens.
Against this backdrop, bitcoin appears to be gaining strength, although it is too early to say whether some capital inflows into safe havens are behind the improvement.
But as rating agencies begin to talk about U.S. debt losing its top-tier rating, fears of a recession rise, the auto industry strike spreads, oil prices return to $100, and core inflation remains as rigid as ever, the green shoots in the bitcoin market are even more noticeable.
Add to the mix that the good news for Coinbase (it needs some) came when it received permission to offer crypto futures trading to its customers outside the US.
Competing US exchange Kraken’s announcement that it planned to open its doors to stock traders may have contributed to the positive vibes. However, that development could be read as a sign of desperation on Kraken’s part as it seeks revenue.
What benefits does bitcoin bring boost cryptocurrencies, particularly derivatives like bitcoin Minetrix
bitcoin is still the forerunner of the cryptocurrency industry, so generally speaking there tends to be a positive correlation between it and all other assets.
However, that correlation is magnified for so-called bitcoin clone and derivative currencies, of which bitcoin Minetrix is the latest of the crop.
When bitcoin does well, so do long-standing forked clones like bitcoin Cash and bitcoin SV, as well as new upstarts like the meme coin HPOS10I (bitcoin), bitcoin 2.0, and BTC20.
However, bitcoin Minetrix differs from all the coins mentioned above due to its tangible connection to the bitcoin network.
Its use case is to contribute to the network’s hash power by pooling the collective power of retail investors (or stakers) to earn credits that can then be deployed into cloud bitcoin mining.
bitcoin Minetrix is the first staking platform for crypto mining. There are certainly many cloud mining rigs out there, but none are completely decentralized. btc Minetrix’s unique selling point is to effectively tokenize cloud mining and take advantage of the many advantages it gives you over your competitors.
Exploring the crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto world with #BitcoinMinetrix!
Cloud Mining = Cost Efficiency!
Say goodbye to high electricity costs and hardware requirements.
Mining with ease. pic.twitter.com/v23XxHFnB2
—Bitcoinminetrix (@bitcoinminetrix) September 27, 2023
bitcoin Minetrix Fights Fraud and Offers Safer, More Affordable bitcoin Mining for Everyone
With bitcoin Minetrix, there is no need to worry about fraud because everything is handled on-chain and no cash changes hands.
Please also note that the Minetrix bitcoin smart contract is fully audited by Coinsult – passed without any major problems.
Smart contract automation makes withdrawing funds very easy, as well as obtaining credits and empowering individual participants to decide how much mining they want to participate in and when.
bitcoin Minetrix takes the hassle and expense out of mining. You don’t need to understand how difficulty is calculated or how to keep your client software up to date.
Furthermore, there is no need to make a considerable capital outlay and expose yourself to the risk of suffering losses in your business.
bitcoin Minetrix Outshines bitcoin: A Yield-Generating Hedge with Reinvestable Mining Profits
But where does the interaction between bitcoin and Macro come into play? Well, it all comes down to bond yields.
Rising bond yields make non-yielding assets less attractive. Lenders demand a higher yield for buying US government debt. Among the largest holders of US debt is China. Given geopolitical uncertainties and tensions, that relationship may not end well.
Bond prices, which move inversely to yields, are declining because there are fewer buyers when inflation is high, driving down yields on fixed-income assets.
Let us now consider the economics of bitcoin Minetrix. While bitcoin has no performance generating properties, bitcoin Minetrix does.
However, in addition to token stakers earning a return on tokens allocated for community rewards, they also earn credits which are then invested in cloud bitcoin mining.
What exactly? #BitcoinMinetrix?bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Minetrix presents itself as a tokenized cloud mining platform that offers ordinary people the opportunity to mine. $btc in a decentralized manner.
Addressing a major problem by eliminating the threat of third-party cloud mining scams. pic.twitter.com/bBqlVP4wdX
—Bitcoinminetrix (@bitcoinminetrix) September 26, 2023
bitcoin Minetrix is reinvesting dividends, the most powerful mechanism for wealth creation in finance.
In the face of rising yields, stocks, particularly riskier growth stocks, become riskier, so the smart money looks for opportunities to lock in income streams.
Still, it’s not just any bond: Treasury Inflation Protected Securities (TIPS) are the ones to hold because they’re indexed.
But you could do better and hold the BTCMTX token and get an income stream, capital appreciation, and a built-in mechanism that reinvests your dividends.
bitcoin Minetrix tokens do not have TIPS indexing, but arguably achieve much the same thing through staking and cloud mining.
And if you want a secure way to get into bitcoin mining and everything else is just the icing on the cake, bitcoin Minetrix is the standout solution. crypto analyst Michael Wrubel told his 300,000 YouTube subscribers exactly that in his latest video.
bitcoin Minetrix ($BTCMTX) Buying Guide
The innovative bitcoin Minetrix is in phase 1 of its four-part roadmap. After the pre-sales phase, the other three phases begin, covering development, launch, and mass adoption.
Although not scheduled until Phases 2 and 3, discussions with cloud providers and work on the mining staking dashboard for applications and desktops have already begun.
To purchase the $BTCMTX token, you will need eth, USDT, BNB, or a bank card. If you plan to purchase with eth, you can start staking to win right away.
Buy bitcoin Minetrix Today
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