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The price of bitcoin has plummeted 6% in the last seven days to trade at bitcoin/”>$41.4K starting at 9:00 am EST.
CryptoCapo, a pseudonymous analyst, warns of the resumption of the bear market for bitcoin (btc) and other digital assets.
Capo sees a potential short-term rally for bitcoin before a sharp drop to as low as $38,000 amid an incoming bear market.
Adjust | Fountain: Capo's Telegram channel
bitcoin Price Prediction: What's Ahead for bitcoin?
Looking at 1 hour btc/USD graphics, the 200-period moving average has broken above the 50-period moving average to form a death cross. This suggests that selling pressure is building as the price of bitcoin rises, setting it up for a decline in the near term.
The Relative Strength Index indicator is also on a downward trajectory, supporting prospects for a near-term bullish trend.
However, the MACD is in the green zone, showing some uncertainty about the price of bitcoin in the short term as the chances of a breakout on both sides remain open.
As for volatility, bitcoin price is currently facing low volatility, as shown by the Bollinger Bands, which are now close to each other. This can be attributed to the decline in trading activities that has seen the crypto king's trading volume drop by 24% in the last 24 hours.
Meanwhile, as the price of bitcoin faces uncertainty, the bitcoin Minetrix Presale is going from strength to strength and can therefore be attractive to investors looking for greater upside potential.
It has already raised over $5.2 million, and each BTCMTX token is currently priced at $0.0122.
bitcoin Price Prediction: Should You Go For BTCMTX?
bitcoin Minetrix has introduced a revolutionary way of mining, which could cause an explosive gain in the price.
The project offers a passive income stream by offering cloud mining credits to BTCMTX token holders. Unlike traditional cloud mining, bitcoin Minetrix employs an on-chain approach, ensuring efficiency, transparency, and protection against fraud.
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The project incorporates mining staking smart contracts, giving users greater control and security over cloud credits, mining time and allocation.
This easy-to-use and frictionless mining method could significantly increase the network's hash power, improving decentralization and security. Additionally, by reopening opportunities for small-scale miners, bitcoin Minetrix aligns with bitcoin's original inclusive intent.
bitcoin Minetrix has garnered support from well-known cryptocurrency influencers such as Jacob crypto Bury and Michael Wrubel. As these influencers endorse the project, bitcoin Minetrix is gaining attention within the crypto community.
Amid growing bitcoin alternatives, bitcoin Minetrix is positioned as a unique investment opportunity during the current cryptocurrency bull run.
The innovative cloud mining approach, strategic team, and favorable market dynamics make it a noteworthy project.
Prepared for the next confinement
With the anticipation of bitcoin ETF approvals in the crypto community and the bitcoin halving, which is expected to see the price of bitcoin rise, projects like bitcoin Minetrix could be key beneficiaries. bitcoin Minetrix emerges as a possible ultimate investment, capturing the momentum of the next bull market.
bitcoin Minetrix's BTCMTX pre-sale is moving forward amid growing enthusiasm for its innovative mining approach.
With influential endorsements, unique investment positioning, and the broader market trend, BTCMTX emerges as a token to watch during this exciting phase of the cryptocurrency bull run. So, as the price of bitcoin faces uncertainty, remember to check out the bitcoin Minetrix token BTCMTX.
Visit bitcoin Minetrix here.
Related news.
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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