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bitcoin price is up 13% in the last week to trade at $52,141 at 1:35 am EST.
The pump helped MicroStrategy (MSTR), the largest corporate owner of btc, increase profits from its bitcoin reserve from $10 billion to over $4 billion.
With the price of bitcoin rising to just under $53,000, MicroStrategy (MSTR), the largest corporate owner of the cryptocurrency, has seen its holdings surpass $10 billion, racking up a profit of more than $4 billion. MicroStrategy at the end of January had 190,000 bitcoins purchased for a…
– Wu Blockchain (@WuBlockchain) February 16, 2024
At the end of January, the company held 190,000 btc tokens purchased for up to $5.93 billion, or $31,224 per coin. The company began purchasing btc in the second quarter of 2020, with a steady addition to its portfolio quarter after quarter.
The $4 billion gains were recorded as bitcoin price hit $52,800 on Thursday morning. Since then, however, the price of bitcoin has fallen back to $52,141.
bitcoin Price Outlook
bitcoin price is testing the upper boundary of the ascending parallel channel at $53,000. This is a crucial hurdle that, if overcome, could expand btc's bullish potential.
The Relative Strength Index (RSI) at 81 shows that btc is massively overbought. The price strength quantifier also suggests that while the risks of a pullback remain high, the upside potential remains high as the RSI is still heading north, showing that momentum continues to build.
The moving average convergence divergence (MACD) also reinforces the bullish outlook for bitcoin price as it moves above its signal line (orange band). The histogram bars are also flashing green, showing the strong presence of the bulls in the btc market.
Further buying pressure could push bitcoin price above the immediate block at $53,000, with the potential to extend gains by 5% to the $55,000 milestone. In a very bullish case, bitcoin price could reach $60,000, almost 15% above current levels.
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TradingView: btc/USDT 1-Day Chart
On the other hand, if profit booking begins, bitcoin price could fall, first losing support due to the channel's midline. This could cause it to fall into the supply zone that now acts as a bullish switch between $44,300 and $46,760. A break and close below its midline at $45,554 would clear the obstruction for a prolonged decline.
With bitcoin price facing crucial resistance at $53,000, forward-thinking investors could consider diversifying their portfolios with presales like BTCMTX, which analysts rank among the crypto-buy-now-2024-top-picks-explosive-growth-calsona-6bnie/” target=”_blank” rel=”noopener”>Best Cryptocurrency to Buy Now for Explosive Growth.
Promising alternative to bitcoin
BTCMTX is the native cryptocurrency of the bitcoin Minetrix ecosystem. This is a staking mining project that makes btc ownership possible. To do this, BTCMTX token holders can stake their holdings for credits and then redeem them for mining hash power.
Comparing #BitcoinMinetrix versus traditional cloud mining:
Cost: #BTCMTX – Low cost, no minimum / Traditional – High cost, great minimum.
Security: #BTCMTX – Decentralized, user-owned / Traditional – Cash deposits.
Choose wisely for your #CloudMining journey! pic.twitter.com/vE8vqd4KLM
—Bitcoinminetrix (@bitcoinminetrix) February 15, 2024
The project is in the pre-sale stage and so far has obtained more than 10.96 million dollars in sales, of the 11.85 billion dollars expected. Investors looking to buy BTCMTX can do so for just $0.0135, but hurry to buy now as that exchange rate will end in four days.
Stage 26 #BitcoinMinetrix has started!
What is the environmental impact of bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining? pic.twitter.com/D1eErQCpRX
—Bitcoinminetrix (@bitcoinminetrix) February 15, 2024
There are multiple benefits for users who mine btc with bitcoin Minetrix, including profitability, ease of use and navigation, and the avoidance of stressors such as noise and heat.
Delving into the possibilities of #BitcoinMinetrix for mining $btc!
Hassle-free start for newcomers.
Economical with no initial equipment costs.
Don't worry about location, noise or temperature.
Simple updates with minimal hassle. pic.twitter.com/5xJKkKKCYv—Bitcoinminetrix (@bitcoinminetrix) February 14, 2024
Visit the bitcoin Minetrix website to purchase BTCMTX here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY
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