Bitcoin breaks new barriers in the financial world! However, the future could be Bitcoin Matrix

bitcoin managed to maintain its position above $28.2 thousand, although it is closer to this support than in previous days.

The coin is still slightly above 6% higher than last week, when its price was 26.76 thousand dollars. Cash spent the first half of the previous seven-day period trading sideways, with its price rising subtly. It only went up about $150 in four days. For btc, this is almost stable. However, there is a good explanation for this.

The currency stabilized on October 12 and 13 after almost a week of constant price declines. After that, October 14 and 15 were the weekends, and btc has seen a considerable lack of activity over the past few weekends, hence the four days of calm.

However, with the arrival of Monday, the coin skyrocketed, first to $28,000 and then to $29,300, only for its price to correct below $28,800. Over the past four days, the coin price has fluctuated between this resistance and the support around $28.2k.

btc would often find a sweet spot somewhere between these two levels, where it would try to stabilize. However, this usually does not last long and the price suddenly increases or decreases.

<img decoding="async" class="aligncenter size-full wp-image-449303" alt="Chart 1 bitcoin October 19″ width=”1787″ height=”702″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png 1787w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1024×402.png 1024w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-768×302.png 768w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1536×603.png 1536w” data-lazy-sizes=”(max-width: 1787px) 100vw, 1787px” src=”https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png”/>bitcoin-oct-19.png” alt=”Chart 1 bitcoin October 19″ width=”1787″ height=”702″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png 1787w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1024×402.png 1024w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-768×302.png 768w, https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1536×603.png 1536w” sizes=”(max-width: 1787px) 100vw, 1787px”/>

It is also worth noting that, as of mid-Wednesday, October 18, bitcoin has approached the support of $28.2 thousand, falling to this same level several times in the last 24 hours.

But the price of the coin also began to see a new rise as of Thursday, October 19, taking it back to $28,493 at the time of writing. Despite the price increase, the coin’s daily trading volume is approximately 27% lower than yesterday.

<img decoding="async" class="aligncenter size-full wp-image-449302" alt="Chart 2 bitcoin October 19″ width=”1789″ height=”701″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png 1789w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1024×401.png 1024w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-768×301.png 768w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1536×602.png 1536w” data-lazy-sizes=”(max-width: 1789px) 100vw, 1789px” src=”https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png”/>bitcoin-oct-19.png” alt=”Chart 2 bitcoin October 19″ width=”1789″ height=”701″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19.png 1789w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1024×401.png 1024w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-768×301.png 768w, https://technicalterrence.com/wp-content/uploads/2023/10/1697844188_870_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-oct-19-1536×602.png 1536w” sizes=”(max-width: 1789px) 100vw, 1789px”/>

No word yet on the future of the bitcoin ETF

One of the most notable recent developments is SEC Chairman Gary Gensler’s interview with Bloomberg TV, during which he was asked about bitcoin spot ETFs.

However, the SEC chairman did not discuss the regulator’s plans. He only noted that agency staff are “working” on multiple ETF proposals, stating that all such products must go through several approvals before the SEC decides.

Expectations regarding ETF approval continue to rise, to the point that even fake news that the SEC approved one was enough to launch btc into $2,000 earlier this week.

CryptoQuant’s recent prediction is that a spot bitcoin ETF could trigger a 155% btc explosion.

Tesla still holding on to btc

Another notable development is that Tesla, Elon Musk’s electric car maker, crypto/markets/elon-musks-tesla-still-holds-275-million-in-bitcoin“>recently released an earnings reportrevealing that it still owns all of the btc it accumulated in the past, making it the fifth consecutive quarter during which the company’s btc holdings have not changed.

In 2021, Tesla acquired 43,000 btc, making the total value of its bitcoin treasury around $1.5 billion at the time of purchase.

While the company stopped accepting btc payments for its vehicles over concerns about the currency’s environmental impact, it decided to keep the coins it purchased or received.

bitcoin Minetrix pre-sale inches closer to $2 million raised

While bitcoin is still in a neutral zone, another project bearing its name is gaining incredible popularity. bitcoin Minetrix (BTCMTX) is a new project that is currently holding a pre-sale and selling BTCMTX for $0.0111.

This transparent and decentralized cloud mining platform allows users to purchase BTCMTX, stake it, and receive credits, which are then used to mine bitcoin.

The project understands that many in the industry are skeptical of cloud mining platforms due to numerous scams, so it ensured full decentralization.

Users are in charge at all times and now have the opportunity to mine btc without expensive equipment.

Those who wish to purchase BTCMTX can do so in exchange for eth, BNB and USDT or purchase it directly with their debit or credit card.

Related

New crypto mining platform: bitcoin Minetrix

<img class="inContentProviderSingle–img mb-3" alt="bitcoin Minetrix” width=”125″ height=”60″ src=”https://technicalterrence.com/wp-content/uploads/2023/10/1697844189_355_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>

• Audited by Coinsult
• Secure and decentralized cloud mining
• Earn free bitcoin daily
• Native Token on Pre-Sale Now – BTCMTX
• Staking Rewards: Over 1000% APY

<img class="inContentProviderSingle–img float-right" alt="bitcoin Minetrix” width=”125″ height=”60″ src=”https://technicalterrence.com/wp-content/uploads/2023/10/1697844189_355_Bitcoin-breaks-new-barriers-in-the-financial-world-However-the”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>