Green Bitcoin Price Prediction: GBTC Surges 21% as This Bitcoin Cloud Mining ICO Surpasses $13 Million

The price of green bitcoin eth/pools/0x0bdcde6854f64a1144192b2e2bb4c995b50cd849?utm_source=coingecko&utm_medium=referral&utm_campaign=searchresults”>arose more than 21% in the last 24 hours to trade at $1.4011 at 8:35 a.m. EST, as investors go long on the newly launched cryptocurrency.

This price increase comes just five days after GBTC made its debut on the decentralized exchange Uniswap.

Green bitcoin Price Could Recover From Support

1-hour chart for GBTC/USDT (Source: x/FcOtyNGs/”>TradingView)

He Green bitcoin The price broke below a positive short-term trend line that emerged on its 1-hour chart in the past few hours. However, the cryptocurrency still has a strong support level at $1.3356 as a safety net. A fall below this key point could expose GBTC to the risk of falling to the next level of $1.0399 in the next 12 hours.

This bearish thesis could be invalidated if the price of green bitcoin manages to recover above the aforementioned ascending trend line in the next 6 hours. In this alternative scenario, the altcoin will most likely try to convert the $1.6978 barrier into support. Closing a 1-hour candle above this threshold could clear the way for GBTC to rise to $2.2168 in the near term.

Technical indicators on the GBTC 1-hour chart show that the altcoin recently entered a short-term bearish cycle. In addition to this, sellers also seem to be gaining strength.

In the past few hours, the MACD line crossed below the MACD signal line, suggesting that the green bitcoin price has started a new negative cycle. Meanwhile, the Relative Strength Index (RSI) is separating below its simple moving average (SMA) line. Traders tend to identify this as a sign that the bears are becoming stronger than the bulls.

Green bitcoin Price Could Soon Enter Another Bullish Leg

Short-term technical indicators marking a bearish trend on GBTC charts could simply be due to profit-taking activity by traders who are capitalizing on the altcoin's recent rise. It could also be a liquidity creation move before the crypto enters another bullish leg.

The Green bitcoin price is a perfect example of how a strong bullish movement can occur after a strong correction. Just a few hours after going public, GBTC plummeted from an opening price of $1.5548 to a low of $0.5233.

This drop in altcoin values ​​was likely due to traders investing in the cryptocurrency to make quick profits. The selling of GBTC prompted these traders to make immediate profits, while value investors remained and began to gradually and steadily drive the price up.

Traders and investors will want to keep an eye on the RSI on the hourly chart of GBTC as it approaches oversold territory. This could soon be seen as a buy signal, given that the altcoin's upside potential is much greater than its downside potential. This could drive the next leg of the green bitcoin price to unprecedented heights.

The upcoming bitcoin halving could also drive investors into derivatives of the leading cryptocurrency like GBTC, which could trigger a wave of buying activity.

bitcoin Minetrixwith its innovative cloud mining platform, could be another recipient of this potential post-halving influx of capital, which analysts say could deliver 10x profits in the coming months.

An alternative route for miners who will have to close their businesses

bitcoin mining rewards will soon be halved during the halving event. Therefore, experts predict that smaller mining operations will have no choice but to close due to declining revenues.

After closing, these smaller miners will have to look for alternative means to exploit the market leader. With its decentralized mining staking platform, bitcoin Minetrix could become the best option for these smaller operators.

Investors could also flock to bitcoin Minetrix to create a passive income stream that is paid in btc. This will prove extremely valuable when new coins become more difficult to source after the halving, especially with the high levels of demand generated through spot bitcoin ETFs.

To start earning btc, all investors will need to do is purchase the project's BTCMTX token. Once purchased, tokens will need to be staked in exchange for gas rewards.

These gas rewards will have to be burned to claim a share of bitcoin Minetrix's cloud mining power. Given BTCMTX's central role in the entire ecosystem, investors rushing into bitcoin Minetrix will have a strong positive impact on the token's value.

Investors continue to pour funds into the pre-sale of BTCMTX

bitcoin Minetrix just surpassed $13 million raised in its pre-sale as investors bet big on the altcoin's prospects.

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With him twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin With Halving Just Around the Corner, Mining Companies Are Preparing for the Changes!

Of twitter.com/MarathonDH?ref_src=twsrc%5Etfw”>@MarathonDH to twitter.com/RiotPlatforms?ref_src=twsrc%5Etfw”>@RiotPlatformspay attention to how they are preparing for the shift.

Who do you think will prosper after the halving? twitter.com/hashtag/BitcoinMinetrix?src=hash&ref_src=twsrc%5Etfw”>#BitcoinMinetrix has successfully raised more… pic.twitter.com/aPtKV1rne9

—Bitcoinminetrix (@bitcoinminetrix) twitter.com/bitcoinminetrix/status/1778017182447743155?ref_src=twsrc%5Etfw”>April 10, 2024

BTCMTX, which sells for just $0.0146, can be purchased using eth, USDT, BNB, MATIC or a bank card on the project website. However, investors will want to hurry as the price of the token will rise in less than 5 days.

BTCMTX can be purchased and staked for 54% APY here.

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