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bitcoin price has risen 1.43% in the last seven days, taking it to $35,097 at 6 a.m. (CET), after seeing sharp fluctuations during the first week of the month, when ETF speculation increased the price.
So far, it is unknown whether the SEC will finally give the go-ahead to any bitcoin ETF (exchange-traded fund) applications, but the bitcoin community remains very optimistic.
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Seven days ago, on October 30, bitcoin price struggled to break a resistance at $34.5 thousand, which finally happened on November 1. Before that, the coin was fluctuating between $34k and the mentioned resistance of $34.5k.
However, late on November 1st, btc managed to shoot up to a resistance of $35.5K and even hit $35.778 early on November 2nd.
After reaching this monthly high, the coin’s price corrected firmly over the next few days. By mid-November 3, btc had returned to $34,165, from where it recovered again over the weekend.
Late on Saturday, November 4, btc returned to $35,000 per coin, rising further on Sunday to surpass the resistance of $35.2 thousand.
However, while it briefly managed to reach $35,340 several hours earlier, at the time of writing, its price is $35,097. The coin also saw a 28% increase in daily volume, currently at $12.56 billion.
Charlie Munger Concerned About Recent bitcoin Price Surge
While many in the cryptocurrency industry have welcomed the current rise in bitcoin price, Berkshire Hathaway Vice President Charlie Munger expressed concern over recent developments.
in a recent interview Writing in the Wall Street Journal, he said the rapid rise in the price of bitcoin was a cause for concern, which could undermine the fundamental role currencies play in facilitating exchange and advancing civilization.
“As far as we know, the only way to go from hunter-gatherers to civilization that has worked is to have a strong currency,” he said.
He explained that currency can take many forms, from seashells and corn kernels to gold coins, banking system pledges and more. However, he sees bitcoin as an artificial currency and says it is like throwing a “stinking marble” into a long-standing recipe that works well for many people.
Munger is not the first famous investor to speak out against cryptocurrencies, which, through low fees, decentralization and other benefits, may serve ordinary people more than entrepreneurs.
Berkshire Hathaway CEO Warren Buffett compared bitcoin to “rat poison squared,” and his stance hasn’t changed much since then.
bitcoin Minetrix pre-sale is about to reach $3.5 million raised
As bitcoin struggles to stay above the $35,000 mark, another project that bears its name has stolen the spotlight with a very successful pre-sale.
bitcoin Minetrix (BTCMTX), a bitcoin mining project that allows users to stake BTCMTX and receive credits used to mine btc, has raised a total of $3.45 million in recent weeks.
#CryptoCommunity You have asked and we have answered you…
‘In what way is it bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining better than just buying bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin?’
Offers the opportunity to actively contribute to the network.
Provides more control over the acquisition process.
Helps with technological understanding. pic.twitter.com/k8cm6hgGyC—Bitcoinminetrix (@bitcoinminetrix) November 5, 2023
The pre-sale is still ongoing and the token is currently selling for $0.0114. BTCMTX can be obtained in exchange for eth, BNB or USDT, as well as purchased directly via credit or debit card.
https://www.youtube.com/watch?v=rdBV_oTEt8o
More importantly, the project offers an opportunity for ordinary people to mine btc without spending thousands of dollars on mining equipment and electricity bills.
Their mining platform is fully decentralized and transparent, and their goal is to get people back into cloud mining. Being completely decentralized, bitcoin Minetrix aims to improve the bad reputation of cloud mining.
Related
- 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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