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bitcoin price fell a fraction of a percent in the last 24 hours bitcoin/”>listed at $51,515 at 00:19 am EST on trading volume that fell 13% to $14 billion.
This comes after Ki Young Ju, CEO of CryptoQuant, revealed that there is a notable increase in bitcoin accumulation among superholders. This indicates a strategic move preceding the cryptocurrency's price rises.
bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin inflows into accumulation addresses have reached an all-time high of 25.3K $btc.https://t.co/HrkV3TUGJT pic.twitter.com/FSLUHNlVCZ
– Ki Young Ju (@ki_young_ju) February 21, 2024
bitcoin is up 23% in the last month, with bitcoin inflows into accumulation addresses reaching an all-time high of 25,300 btc and continuing to grow. These addresses have no outgoing transactions, have a balance greater than 10 btc, and exclude accounts associated with centralized exchanges.
As bitcoin investors continue to accumulate btc, will its prices skyrocket?
bitcoin price is consolidating and aiming to break out
bitcoin price has seen an upward movement since the beginning of February, which is evident in the margin phase. The bulls were able to maintain the bullish momentum, supported by the inverse head and shoulders pattern, before encountering rejection at $53,000.
However, after the rejection, the bulls and bears are fighting to take control of the price. This has led to a consolidation phase, as the bulls aim to break above the upper boundary of the ascending triangle pattern.
btc is trading above the 200-day SMA, indicating sustained bullish momentum. If the bulls maintain this momentum, btc will surpass the 50-day SMA hurdle, which will push the price higher.
Furthermore, the 50-day SMA is trading above the 200-day SMA, with a golden cross formed at $42,875. The golden cross is an indication that the price is in a sustained bullish rally. The Relative Strength Index (RSI) is hovering around the mid-50 level at 51, supporting the consolidation sentiment with the possibility of a breakout.
Furthermore, the moving average convergence divergence (MACD) supports the bullish momentum, with the moving average line (blue) trading above the signal line (orange), indicating more buying options for investors.
The extension of the green bars on the histogram above the zero line also indicates continued positive momentum.
bitcoin price prediction
The current bitcoin price analysis suggests that btc will break out of the consolidation phase, pushing the price above the ascending triangle pattern. The bulls are looking to break the current resistance of $53,000, targeting the psychological barrier of $55,000.
However, if the bears take control of the price at this level, they can drive the price lower. The support levels of $50,600 and $49,000 act as a cushion against downward pressure.
Meanwhile, analysts say the bitcoin Minetrix ICO has 10x potential at launch and could therefore be a better alternative in the medium term.
BTCMTX pre-sale nears $12.37 million target: BeFirst cryptocurrency to buy now?
The bitcoin mining process is historically known to require large amounts of investment due to the overpriced hardware costs. However, there is a transformative solution with bitcoin Minetrix (BTCMTX). BTCMTX promises to change the perception of bitcoin cloud mining by reducing costs and strengthening security through decentralized mechanisms.
What exactly? #BTCMTX?
#BTCMTX is a tokenized cloud mining platform that allows everyone to mine $btc in a decentralized manner.
Provide a safe and transparent trip.
Address a major problem by eliminating the threat of third-party cloud mining frauds. pic.twitter.com/OirA4EPSEt
—Bitcoinminetrix (@bitcoinminetrix) February 25, 2024
The project continues to attract a large following. This pre-sale, now in its 28th round, has successfully raised over $11.4 million, approaching its goal of $12.37 million.
stage 28 #BitcoinMinetrix it's live!
How does mempool affect mining strategies? pic.twitter.com/xPz8YVnmed
—Bitcoinminetrix (@bitcoinminetrix) February 25, 2024
To join the pre-sale, purchase BTCMTX, for a reduced price of $0.0137. Buy now as the price will increase in about four days.
Stake BTCMTX and Win $3,000 in Minedrop Airdrop Competition
BTCMTX has a gamble feature that allows you stake your acquired tokensearning an impressive 59% Annual Percentage Yield (APY), with over 700 million BTCMTX tokens already staked.
Stake-to-Mine concept presents an innovative approach prepared to reintroduce bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining every day crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto enthusiasts, for various reasons.#BTCMTX Participants only require one ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum compatible wallet like #MetaMask, ensuring simplicity. pic.twitter.com/IPRnX3NMzc
—Bitcoinminetrix (@bitcoinminetrix) February 25, 2024
By buying and staking, you also earn a spot on the project roster. $30,000 Mine Throwing Contestwhere ten lucky winners will receive $3,000 in BTCMTX each.
According to Jacob Bury, crypto analyst and YouTuber, BTCMTX has the potential to deliver a 10x return on investment for investors upon launch.
To participate in the pre-sale, visit the official website of BTCMTX and exchange your eth or USDT for BTCMTX. You can also make purchases directly with your bank card.
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