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bitcoin price is rising again as bulls reorient their target to $40,000. At the same time, active cryptocurrency traders continue to place bets on the new bitcoin Minetrix alternative, bitcoin Minetrix, as its ICO surpasses $4 million.
After false reports about an XRP ETF, followed by the not unexpected news that the US Securities and Exchange Commission (SEC) deferred a decision on the first bitcoin ETF application it was considering, traders had many excuses to record profits.
However, after retreating towards $35,000, bitcoin is trading strongly higher at $37,422 today, up 4.2% in the last 24 hours. The leading cryptocurrency has seen gains of 123% so far this year, outperforming all other asset classes. It is no wonder that market participants are eagerly anticipating even bigger gains when the timely approval of a bitcoin ETF finally arrives.
<h2 id="h-bitcoin-minetrix-btcmtx-has-less-than-24-hours-to-go-before-next-price-rise” class=”wp-block-heading”>bitcoin Minetrix ($BTCMTX) Nears Next Price Surge With Less Than 24 Hours Left
There are less than 24 hours until $BTCMTX enters Phase 8 of its pre-sale and the token price increases from $0.0116 to $0.0117.
However, with just $500,000 left to reach the Phase 7 target of $4,683,971, the token could sell out before the next step up the price ladder, so potential buyers should act quickly.
There has been a frenzy in the market due to rising expectations that the SEC will approve a bitcoin spot ETF.
Consequently, bitcoin-related currencies are in demand as alternative investment propositions that offer exposure to the bull market.
bitcoin Minetrix ($BTCMTX) is tokenizing bitcoin cloud mining, and is a one-of-a-kind crypto asset, which is why $4 million has flowed in like a torrent in its pre-sale.
Built on the ethereum blockchain, bitcoin Minetrix users will stake the ecosystem’s native $BTCMTX token and be assigned cloud credits to mine bitcoin.
This approach has several key advantages over the dominant cloud mining model, and at the top of the list is ease of use, low cost of entry, and welcome absence of scammers.
Great news! #BitcoinMinetrix proudly announces a colossal achievement: over $4,000,000 raised! pic.twitter.com/neW7VEgkjJ
—Bitcoinminetrix (@bitcoinminetrix) November 16, 2023
<h2 id="h-why-a-spot-bitcoin-etf-approval-is-such-a-big-deal-for-the-bitcoin-and-btcmtx” class=”wp-block-heading”>Understanding the Impact: How the Approval of a bitcoin Spot ETF Could Significantly Benefit bitcoin and $BTCMTX
It is unknown how high the price of bitcoin could go, but it seems increasingly likely that it will be valued at multiples of $100,000. Price targets vary, but most analysts believe we are out of the bottom of the bearish cycle.
The following table shows the relationship between market value and realized value. Realized value is measured as the average price of bitcoin supply when a coin makes an on-chain transaction.
An MVRV reading above 1 means that the average bitcoin holder is making a profit. The MVRV index is a key metric for identifying market lows and highs, and shows that we are breaking out of the low, as designated by the crypto winter moniker. The scale on the left shows the price of bitcoin logarithmically.
Simply put, there couldn’t be a better time to enter the market, and new tokens like bitcoin Minetrix are an attractive way to take advantage of the bull cycle.
When BlackRock said it had applied to launch a spot bitcoin ETF, it was a major milestone for crypto assets. Globally, BlackRock is the largest fund manager, with assets under management of $8.54 trillion.
It matters enormously when BlackRock enters a new market. His boss, Larry Fink, has done a 180 after previously doubting bitcoin: he now thinks it’s digital gold.
Suffice it to say that a spot bitcoin ETF will unlock an influx of billions of dollars entering the crypto space.
Financial advisors and pension fund managers who, for regulatory and due diligence reasons, have been prohibited from investing client funds in bitcoin or ethereum will, upon approval, have a regulated route into the asset class.
A bitcoin spot ETF will be the biggest milestone for the asset class to date, giving it credibility it may have lacked until now in some sectors.
In the United States alone, the combined equity and bond ETF sector is valued at $7 trillion; The total US stock market attracts a valuation of $44 trillion. The potential seismic impact of launching a spot bitcoin ETF on the world’s largest capital market cannot be underestimated.
<h2 id="h-bitcoin-supply-shock-to-send-bitcoin-minetrix-to-the-moon” class=”wp-block-heading”>Anticipated bitcoin Supply Shock Will Drive bitcoin Minetrix Value Skyward
Around 80,000 bitcoin wallet addresses are currently valued at more than $1 million. As the price of bitcoin increases, that number will increase. It will also increase as the number of whales increases as new money from high net worth individuals begins to flow into the bitcoin market.
Some of that money will also go into the bitcoin mining industry. A novel coin like bitcoin Minetrix is in the first place among the candidates for alternatives to bitcoin.
bitcoin Minetrix provides the opportunity to increase capital and income. Owning the coin has its advantages associated with bitcoin‘s investment history, while its mining reward claim provides income to $BTCMTX owners.
bitcoin mining is highly profitable at current and market prices, even more so for tokenized cloud miners in the bitcoin Minetrix ecosystem with no capital expenditure for mining rigs.
Examining bitcoin exchange balances adds more arguments to the supply shock thesis. bitcoin balances on exchanges are at their lowest level in five years.
<h2 id="h-why-bitcoin-minetrix-is-the-best-way-to-play-the-bitcoin-boom-start-staking-btcmtx-today” class=”wp-block-heading”>bitcoin Minetrix – The Optimal Strategy to Capitalize on the bitcoin Boom – Start Staking $BTCMTX Now
Even before the bet-to-win system is launched, you can start betting today. 284 million tokens have already been deposited into the $BTCMTX staking smart contract, earning an APY of 146% at the time of writing.
158.5 tokens are issued as a reward for each eth block mined. By earning additional tokens now, stakers can earn a higher proportion of hash power (mining power) when they can be staked to mine for credits.
$BTCMTX tokens have the unique utility of being redeemable for designated btc cloud mining time slots, providing investors of all types with an easy and affordable way to access bitcoin block rewards.
Gamblers can earn passive income from bitcoin mining rewards when the cloud mining system is up and running. With so much going for it, bitcoin Minetrix has a following among prominent crypto analysts, such as Michael Wrubel, who explains to his 310,000 YouTube subscribers why he is bullish on $BTCMTX.
As delightful as the bitcoin bull case is, the ROI potential is much greater for bitcoin alternatives like $BTCMTX.
The bitcoin Minetrix token has a much smaller market capitalization than bitcoin, and its future lifecycle offers a more realistic chance of appreciating by thousands of percent.
In its ability to connect retail investors to the bitcoin cloud mining revolution, $BTCMTX will be a big beneficiary of the upcoming cryptoasset price explosion. bitcoin-themed alternatives that improve the value of the bitcoin protocol in the same way that $BTCMTX does are rare.
A relatively small investment could generate life-changing returns, but do your research and don’t invest what you can’t afford to lose.
Buy BTCMTX today
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