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bitcoin price rose 1.1% in the last 24 hours bitcoin“>trading at $47,712 at 8:15 pm EST on trading volume that fell 71% to $11 billion.
The rise coincides with a gray scale. reportThat says the bitcoin halving in April will be different this time due to continued on-chain activity and positive market structure updates.
One of the key factors is the arrival of bitcoin ETFs in the US, which according to Grayscale “could significantly absorb selling pressure, potentially reshaping the bitcoin market structure by providing a source of new and constant demand, which is positive for the price.”
NEW REPORT: On-chain fundamental activity and positive market structure updates could arrive in spring 2024 $btc halve fundamentally different from the previous ones. pic.twitter.com/SIjBg11cpV
– Grayscale (@Grayscale) February 9, 2024
Among other factors that make this time “different” is the arrival of bitcoin“>ordinal inscriptions, which according to Grayscale has revitalized chain activity. More than 59 million non-fungible token (nft)-like collectibles have already been enrolled, generating more than $200 million in transaction fees for miners through February 2024, he said.
“This trend is expected to persist, driven by renewed developer interest and continued innovations in the bitcoin blockchain,” he added.
bitcoin Price Ready to Explode, Trading Cup and Handle Pattern
<img decoding="async" class="alignnone wp-image-479691 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price” width=”1736″ height=”747″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-As-Grayscale-Says-Halving-Will-Be-Different.png 1736w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-1024×441.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-1536×661.png 1536w” data-lazy-sizes=”(max-width: 1736px) 100vw, 1736px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-As-Grayscale-Says-Halving-Will-Be-Different.png”/><img decoding="async" class="alignnone wp-image-479691 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-As-Grayscale-Says-Halving-Will-Be-Different.png" alt="bitcoin price” width=”1736″ height=”747″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-As-Grayscale-Says-Halving-Will-Be-Different.png 1736w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-300×129.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-1024×441.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-768×330.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-11_05-42-17-1536×661.png 1536w” sizes=”(max-width: 1736px) 100vw, 1736px”/>
btc/USDT analysis by Tradingview.com
bitcoin price is set to rise, indicating signs of a bullish rally with the formation of the cup and handle pattern, indicating a continuation of the uptrend.
After a drop in which the bears took the price to the support of $16,381, coinciding with the bottom of the cup, causing a quick rebound that resulted in an increase in price, reaching the neckline of the cup.
However, the bulls have shown resistance, pushing the price back to the $48000 level and forming part of the pattern after a brief correction by the bears.
Technical indicators have a bullish bias supporting the upcoming bullish rally. The price has broken above the 50-day and 200-day simple moving averages (SMA), which now support bitcoin price.
The Relative Strength Index (RSI) indicates a bounce from the oversold region of 30, moving from the mid-level of 50 to the overbought region at 72. This indicates intense buying pressure that could push the RSI further into the zone. overbought, supporting the bullish outlook for btc.
The MACD is trading above the neutral position, with the blue line crossing the orange signal line at 624. The positive histogram, trading above the neutral position, confirms the upcoming bullish rally.
bitcoin Price Bulls Target New ATH
Since the presence of the cup and handle pattern indicates a continuation of the uptrend, the bulls could target a new all-time high (ATH) of $79,512, an increase of 63% from its current price. This increase is equivalent to distance X (the depth of the canopy).
As btc traders prepare to add more positions, the BTCMTX cloud mining token offers a lucrative opportunity for investors.
BTCMTX Pre-Sale Almost Sold Out and Nearing $11.5 Million Target
The bitcoin Minetrix (BTCMTX) The pre-sale has already secured over $10.6 million as investors rush to buy the token amid FOMO as it moves towards its $11.5 million target and a likely pre-sale.
#BitcoinMinetrix achieves another notable milestone!
Exceeding $10,400,000. pic.twitter.com/6WaHtJCB4m
—Bitcoinminetrix (@bitcoinminetrix) February 9, 2024
Mine bitcoin via Stake-To-Mine and Earn Passive Income
The Stake-to-mine feature of the BTCMTX platform offers the ability to earn passive income using BTCMTX tokens, giving you full control over your mining activities.
Additionally, this functionality allows you to earn cloud mining credits by staking your BTCMTX tokens. It also allows you to participate in decentralized bitcoin mining, giving you protection against potential scams from third-party cloud mining platforms.
Exploring the advantages of #BitcoinMinetrix:
Comfortable and easy access.
Improved efficiency with an optimized cost structure.
Enjoy peace of mind, free from worries about resale value.Knowing the benefits is key! #bitcoin Mining #MiningEfficiency pic.twitter.com/tBCVjFELBO
—Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
Additionally, the platform allows you to earn rewards in the betting pool and a 63% annual salary return. More than 659 million tokens have already been staked.
Chance to win in the Minedrop Airdrop competition
The BTCMTX tokens you purchase open up the opportunity for you to participate in the Minedrop Airdrop Competition. You will be able to compete with other participants for a prize pool of $30,000, where you could be one of ten lucky winners to receive a reward of $3,000.
Jacob Bury, a crypto analyst on YouTube with more than 27,000 subscribers, says BTCMTX could grow 10-fold at launch for early entrants and says he has invested substantially in the pre-sale, anticipating lucrative returns. In one of his videos, he explains how you can buy and benefit from his staking to mine feature.
myEach token is currently selling for $0.0134, but a price increase is coming in less than four days, so take the opportunity to buy now at the lowest price possible. Any tokens you purchase will be available once the last stage of BTCMTX ends. The claim option will be on the BTCMTX website within seven days of the final stage.
Join the pre-sale to purchase BTCMTX tokens on the BTCMTX website connecting your digital wallet to exchange your eth or USDT for BTCMTX tokens. You can also buy directly using your bank card.
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