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bitcoin price has risen 3.5% in the last seven days to trade at bitcoin/”>$43.1 thousand starting at 2:30 am EST.
This comes as bitcoin ETFs managed by BlackRock and ProShares surpassed Grayscale's GBTC in daily trading volumes on Thursday for the first time.
BlackRock's IBIT had trading volume of $306 million and ProShare's BITO $298 million, both exceeding GBTC's $291 million in transactions, CoinDesk reported, citing multiple data sources. The day also marked the first time Since its launch, daily ETF volumes have fallen below $1 billion.
There are still some after-hours trades, but it looks like BlackRock's $GO It is the first ETF that trades more than Grayscale's $GBTC in one day.
However, today's total trade was a bust: $924 million, the first day under $1 billion in volume for the group since its launch. https://t.co/IeIF2COm4F pic.twitter.com/ZtADLBQP63
-James Seyffart (@JSeyff) February 1, 2024
bitcoin price prediction
Looking at an in-depth analysis of the 2-hour btc/USD charts, we see some volatility with alternating red and green candles, but no clear directional trend in the most recent candles.
There appears to be a consolidation pattern as the price becomes more stable and moves within the range. In contrast, Bollinger Bands show price fluctuations within the upper and middle bands (orange line), indicating moderate volatility. Furthermore, youThe Relative Strength Index (RSI) is hovering around the 53.98 mark, which is in the neutral zone, with neither overbought nor oversold.
The Awesome Oscillator (AO) shows decreasing momentum and the green bars are no longer growing in size. Also used to measure trends, the average directional index (ADX) line is at 11.54, which is quite low. This indicates a very weak trend or no trend at all. The low value suggests that the market is currently in a range rather than trending.
btc/USD 2-hour charts | Fountain: crypto%3ABTCUSD”>TradingView
bitcoin Price Prediction: Will bitcoin Rise in the Short Term?
btc appears to be in a consolidation phase with a slight long-term bullish bias as the price is above the moving average. The price is approaching the middle band (the 20-period simple moving average), which could act as a support level in an uptrend.
In line with this, bitcoin's recent accumulation streak supports this bullish outlook. According to Ali on
bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin is seeing one of its most significant accumulation streaks in almost 3 years!
Notably, the accumulation trend score has remained close to 1 over the past 4 months, indicating that larger entities are accumulating $btc. This trend indicates strong confidence in the market! pic.twitter.com/QcJOEhzBUb
– Ali (@ali_charts) February 1, 2024
However, since our previous indicators suggest weak momentum, no strong directional trend is yet confirmed in the near term.
While there is uncertainty over the near-term direction of bitcoin price, analysts rank the new bitcoin Minetrix cloud mining project as one of the best penny cryptocurrency investments for crypto-investments-top-picks-explosive-growth-calsona-j8nhe/”>explosive growth in 2024.
An attractive alternative to bitcoin
bitcoin Minetrix is making cheap bitcoin mining accessible to everyone by integrating cloud mining with cryptocurrency, eliminating the need for expensive mining equipment.
Exploring the advantages of #BitcoinMinetrix:
Comfortable and easy access.
Improved efficiency with an optimized cost structure.
Enjoy peace of mind, free from worries about resale value.Knowing the benefits is key! #bitcoin Mining #MiningEfficiency pic.twitter.com/tBCVjFELBO
—Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
Thanks to its stake-to-mine functionality, customers have full control over their mining activity on the bitcoin Minetrix cloud mining platform. Without the risk of fraud associated with third-party cloud mining services, you can use the cloud mining credits you earn by staking your BTCMTX tokens to participate in decentralized bitcoin mining.
Another option to earn passive money on the site is to stake BTCMTX. Participants get incentives from the betting pool, which generates a return of 66% annually. More than 634 million tokens have been staked so far.
Participating in a Minedrop contest is another opportunity to own BTCMTX tokens. This competition offers a grand prize of $30,000, and 10 lucky winners will receive $3,000 each.
#BitcoinMinetrix $30,000 Minedrop Now Available!
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for your chance to win one of ten $3000 $BTCMTX Awards!
https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N—Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
With analysts bitcoin-price-prediction-experts-forecast-bullish-trends-calsona-o1vue”>predicting Like a bitcoin price bomb ahead of the halving event in April, BTCMTX looks primed for an explosive launch.
Prominent cryptocurrency analyst Conor Kenny, with more than 179,000 followers on YouTube, supports the project and notes that early participation in the presale It is the best way to earn substantial returns upon launch.
The pre-sale of BTCMTX has already raised almost $10.2 million, and the goal of $10.9 million is now in sight. BTCMTX c tokensIt currently costs $0.0132, but a price increase in less than two days signals interested investors to act quickly to secure their holdings before it is too late.
You can buy BTCMTX tokens using USDT or eth on the BTCMTX website. You can also use a bank card.
Visit the official website here.
Related news
- Audited by Coinsult
- Secure and decentralized cloud mining
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- Staking Rewards: Over 100% APY
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