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bitcoin price rose 0.8% in the last 24 hours to maintain a spot price of bitcoin/”>$43.3 thousand starting at 8:30 am EST.
this comes as bitcoin reached on-chain volume in January greater than any month since September 2022 and more than triple the amount recorded in September of last year, according to data compiled by The Block.
About $1.21 trillion worth of bitcoin was moved on-chain in January, more than triple the $550 billion that was moved in September. The rally was likely fueled by enthusiasm over the launch of bitcoin ETFs (exchange-traded funds) in the US, which occurred on January 11.
bitcoin price prediction
Based on the 1-hour btc/USD charts, we see the price moving above the 50-period simple moving average (red line) and the 200-period SMA (blue line), indicating a bullish trend in the short. term. The 50-period SMA is also above the 200-period SMA, forming a Golden Cross to show bullish dominance.
The moving average convergence divergence (MACD) line is above the signal line (orange line) and appears to be positively diverging, supporting bitcoin's bullish outlook. The histograms are also positive and increasing, further confirming the bullish momentum.
The most recent candles are also showing a bullish trend, with the last candle being significantly bullish.
btc/USD 1-hour chart | Fountain: crypto%3ABTCUSD”>TradingView
Backing the bullish outlook, analysts Jelle from
This bullish megaphone pattern has a target of $60,000.
But you wouldn't believe it. bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin pic.twitter.com/TVWZDaeYzd
– Jelle (@CryptoJelleNL) February 5, 2024
bitcoin price prediction: What are the chances of a pullback?
The Relative Strength Index (RSI) appears to be around 70, which is on the threshold of overbought territory. This indicates that the market could be overextended to the upside and there could be potential for a pullback or consolidation.
In line with this, AlphaBTC predicts a bitcoin correction before another push to retest 46k and a more significant correction later in February.
I'm still looking for a little more depth on this. bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin correction before another push to retest the 46k region, before a larger correction in late February.
Believe $btc See 41K first, but if it breaks and closes out of the channel I'll have to re-evaluate. pic.twitter.com/6BWrN9oO1G-AlphaBTC (@mark_cullen) February 5, 2024
Meanwhile, as the price of bitcoin rises, experts have identified bitcoin Minetrix, a new cloud mining project, as one of the leading cryptocurrencies. crypto-investments-top-picks-explosive-growth-calsona-j8nhe/”>investments to pump in 2024. The pre-sale of the token has raised more than $10.2 million, demonstrating the enormous confidence of investors in the project.
China's latest offensive against #Cryptocurrency Mining signals an important change in the regulatory landscape.
Will this push towards energy conservation lead to a more sustainable future for crypto?src=hash&ref_src=twsrc%5Etfw”>#cryptoOr will it simply move mining operations elsewhere? #BitcoinMinetrix has… pic.twitter.com/3GkQeLND6F
—Bitcoinminetrix (@bitcoinminetrix) February 5, 2024
A good investment option?
By integrating cloud mining and staking, bitcoin Minetrix It eliminates the need for expensive mining equipment and makes bitcoin mining affordable for everyone.
With bitcoin Minetrix's mining staking feature, users can manage all aspects of their cloud mining experience. You can participate in decentralized bitcoin mining using the cloud mining credits you earn by staking your BTCMTX tokens without the danger of fraud that comes with third-party cloud mining services.
A second way to get money in the platform without actively doing anything is betting BTCMTX. The betting pool offers incentives to participants and generates a 65% return each year. The stake has reached 640 million tokens.
Another way to get BTCMTX tokens is to participate in their Minedrop contest. Ten lucky winners will each receive $3,000 for this contest, with a total prize pool of $30,000.
#BitcoinMinetrix $30,000 Minedrop Now Available!
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for your chance to win one of ten $3000 $BTCMTX Awards!
https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N—Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
bitcoin-price-prediction-experts-forecast-bullish-trends-calsona-o1vue”>Experts The price of bitcoin is expected to rise ahead of the halving event in April, making BTCMTX a good candidate for a spectacular debut. Jacob Bury, a prominent cryptocurrency analyst with more than 27,000 YouTube subscribers, has endorsed the project and predicts it will grow tenfold upon its launch.
With more than $10.2 million raised so far, the BTCMTX Presale is on track to reach 11 million. The current price of one BTCMTX token is $0.0133, and the price increase will occur in less than five days.
You can buy BTCMTX tokens with USDT, eth or a bank card.
Visit the official website here.
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