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bitcoin price has fallen 1.5% in the last 24 hours bitcoin/”>trading at $42,732 at 05:30 am EST on trading volume which increased by 1.3% to $23 billion.
The slight decline in btc price comes as The Flow Horse, a pseudonymous X trader, tells his followers that the upcoming bitcoin halving may cause the price of bitcoin to skyrocket.
Just a little advice, as most people in this market are obsessed with intraday activity and try to emulate their favorite traders, taking advantage of every little move the market offers: We are on the cusp of the most reliable and popular narrative that this market has ever seen. this point.…
– HORSE (@TheFlowHorse) January 30, 2024
According to historical data, after every bitcoin halving event in four years, a bull market always comes, the analyst said.
The trader also wants to warn investors about the short-term volatility of btc.
I still think with $btc This is a dead bounce and we are not close to any new uptrend. At least if things are kept contained and tidy, there is a lot of scope for trading.
– HORSE (@TheFlowHorse) January 29, 2024
Flow Horse is not the only prominent figure seeing the price of btc skyrocket. Other individuals in the industry predict a period of buying pressure and reduced supply after the halving, which will likely drive the price up.
Joe Caselin, Director of Institutional Marketing at BIT: btc?src=hash&ref_src=twsrc%5Etfw”>#btc may continue to rise despite the “buy the rumor, sell the news” setup #ETF approvals. Incoming buying pressure combined with reduced supply after the #halve making it a very bullish 2024 in which we will surpass the ATH.
— BIT TRADE OFFICER (@bitradeexchange) January 2, 2024
bitcoin price maintains an uptrend within the ascending channel
bitcoin price continues bullish momentum, maintaining the current uptrend within the ascending channel.
The bearish stance is rejected at the $42,447 level, coinciding with the lower boundary of the channel, which is an opportunity for the bulls to regroup.
However, the bulls remain in control as the price is still trading above the critical $42,000 support zone.
If the bullish momentum sustains, the price could surpass the nearest resistance mark at $43,400, rising towards the previous high of $49,000.
bitcoin price is trading above the 50-day simple moving average (SMA), indicating sustained bullish momentum. If the uptrend movement sustains, the price could surpass the 200-day SMA hurdle.
The Relative Strength Index (RSI) is also in a downtrend from the overbought region, but above the mid-level of 50 at 53. If the bullish momentum sustains, it could push the RSI towards the overbought position of 70.
bitcoin Price Bulls Aim to Reclaim $49,000 Mark
btc price is in a downward trend. However, if the bulls can withstand the pressure and find support at the $40,900 level, there is a possibility of a bullish rally as the bulls aim to reclaim the $49,000 mark before the halving event in April. .
Analysts suggest that this price aligns closely with previous btc positions, especially compared to its all-time high (ATH) just before the halving events.
bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Reduce by half in just 80 days
Have you ever wondered where bitcoin was 80 days earlier at previous Halvings?
– In 2016, btc was -62% below its ATH
– In 2020, btc was -52% below its ATH
– In 2024, btc is currently -42% below its ATHSo even if it looks like the price of bitcoin… pic.twitter.com/d7zYuZPLwP
– Magazines (@thescalpingpro) January 23, 2024
If the current support level is broken, the price may experience a further decline, with a possible support level of $38,542.
Such a scenario could create a huge opportunity for investors to add more btc to their portfolios.
Meanwhile, investors looking for substantial returns on their investments could consider bitcoin Minetrix, as analysts say this bitcoin derivative could be the best way to halve.
bitcoin Minetrix Surpasses $10 Million, Heading to $10.3 Million Soft Limit
He bitcoin Minetrix (BTCMTX) Pre-sales just surpassed $10 million and are now quickly approaching their goal of $10.9 million.
We are approaching the end of #BitcoinMinetrix Stage 22, only 1 day left on the clock!
What are the main components necessary for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining? pic.twitter.com/TC1aslkPLU
—Bitcoinminetrix (@bitcoinminetrix) January 30, 2024
At the current stage, you can buy BTCMTX at a reduced rate of $0.0132 per token before the price increases in less than 5 days.
bitcoin mining has been a complex and resource-intensive process that requires specialized hardware and technical knowledge. bitcoin Minterix is a decentralized cloud mining platform that is intended to reduce such barriers to entry.
Embark on an exciting journey into cloud mining with #BTCMTX!
Users earn credits to stake and monitor their mining capabilities.ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum The network's smart contracts ensure decentralized and seamless distributions, ensuring a safe and reliable mining experience. pic.twitter.com/l1NXxe2XRz
—Bitcoinminetrix (@bitcoinminetrix) January 30, 2024
To participate in the project, you can purchase BTCMTX tokens, which represent shares of cloud mining power. This, in turn, allows you to participate in bitcoin mining regardless of your experience, potentially allowing you to earn rewards.
The platform enables this process through the mining staking feature, which gives you full control of your mining activities.
To mine in the BTCMTX PlatformYou must have an ethereum compatible wallet like MetaMask to purchase and stake on BTCMTX.
Join the pre-sale now and get a chance to win $3000
In addition to the mining staking setup, bitcoin Minetrix also offers a complementary staking protocol for BTCMTX. As of now, this gives you an annual percentage yield (APY) of 67%. More than 627 million tokens have already been staked.
By purchasing and staking BTCMTX, you also get access to the $30,000 Mine Throwing Airdrop Contestwhere ten people will be declared winners and each one will take home a prize of $3,000.
CryptoNews host Ari remains optimistic about BTCMTX's ability to exceed expectations at launch. He also said that he wouldn't be surprised if its price multiplied by 50 in the next bull run.
To participate in the pre-sale, visit the official website of BTCMTX, connect your digital wallet and exchange your eth or USDT for BTCMTX. You can also make purchases directly with your bank card.
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