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The price of bitcoin bitcoin/”>pumped more than 4% in the last 24 hours to trade at $70,350.63 at 2:25 am EST as investors rush to get their hands on btc ahead of the bitcoin halving.
bitcoin price managed to overcome key resistance
4-hour chart for btc/USDT (Source: TradingView)
He bitcoin The price managed to break above the $68,863.99 resistance level in the last 24 hours after it printed a series of higher highs and higher lows on its 4-hour chart. If buyers continue to push the price of the leading cryptocurrency higher in the coming days, then btc could also try to turn the $72,564.10 barrier into support. Thereafter, bitcoin price could have the necessary foundation to surpass its previous all-time high and record a new peak in the coming days.
This bullish thesis could be invalidated if the cryptocurrency king falls below $68,863.99 in the next 24 to 48 hours. Then there could be a wave of panic selling, which could drag the bitcoin the price declines to the next key support level at $65,847.29. In an extremely bearish scenario, btc may plummet to $61,481.65 if sellers continue to unload their holdings in the market leader.
bitcoin price could soon undergo a correction
Technical indicators on the btc 4-hour chart are bullish, but warn of a possible bearish reversal of bitcoin's trend as buying activity begins to cool.
The Moving Average Convergence Divergence (MACD) line is positioned bullishly above the MACD signal line, indicating that btc is in a positive cycle.
Similarly, the relative strength index (RSI) is positioned above its simple moving average (SMA) line. Traders generally identify this technical fact as a sign that buyers have the advantage over sellers.
Although both the MACD indicator and the RSI are bullish, they warn of a possible correction. The MACD line is starting to collapse towards the MACD signal line, which could suggest that btc's bullish momentum has reached a peak and will begin to decline soon.
Buyers also appear to be losing some of their advantage over sellers, as evidenced by the RSI line sloping downward towards the SMA line. An intersection between the RSI and SMA lines, or between the MACD and MACD Signal lines, could confirm that bitcoin price has entered a bearish phase.
As bitcoin price attempts to establish a new all-time high, the bitcoin Minetrix The pre-sale costs 13 million dollars.
Simplifying btc mining for everyone
Mining cryptocurrencies can be a somewhat complex task. In addition to having to set up dedicated machinery, anyone who wants to run a mining farm will need to constantly monitor the miners for potential problems and ensure maximum uptime.
bitcoin Minetrix, through its innovative cloud mining platform, is on a mission to simplify cloud mining for everyone.
#BTCMTX offers a reliable cloud mining solution tailored to each crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto enthusiastic.
Past hardware concerns and scams have deterred many.
This decentralized method ensures a transparent and protected mining journey. pic.twitter.com/4bi8D97oKb
—Bitcoinminetrix (@bitcoinminetrix) March 25, 2024
Through its mining staking model, investors can earn profits from btc mining simply by staking an ERC-20 token without having to worry about ongoing maintenance of the machinery.
All investors will have to do is purchase the project's BTCMTX token on the official bitcoin Minetrix website.
Once purchased, the tokens must be staked in exchange for “gas” tokens.
The final step is to burn these gas tokens, which will then allow token holders to claim a portion of bitcoin Minetrix's cloud mining power.
BTCMTX could rise 10x after halving
The bitcoin halving event will take place in 24 days. This will cut mining rewards in half, which many believe will lead to the closure of multiple smaller mining operations.
Affected mining operators can turn to bitcoin Minetrix as an alternative, given its affordability. Since btc will be scarcer after the historic event, retail investors could also turn to bitcoin Minetrix to earn passive income that is paid in the leading cryptocurrency.
BTCMTX, bitcoin Minetrix's native token, will benefit from this potential surge in interest given its central role in the project's cloud mining operations. As a result, investors who purchase BTCMTX before the halving could enjoy a 10x return on their investments.
@MarathonDH increases infrastructure such as bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoinCode update looms, aiming to remain competitive amid revenue cuts.
How do you think miners will navigate the changing landscape after the halving? #BitcoinMinetrix It has also reached a new milestone and surpassed $12,400,000! pic.twitter.com/vDDa2zgGXa
—Bitcoinminetrix (@bitcoinminetrix) March 18, 2024
BTCMTX, which is currently selling for $0.0142, can be purchased using eth, BNB, MATIC, USDT, or bank card.
bitcoin Minetrix is also offering investors who stake their tokens now a 55% APY. However, investors will want to hurry as the BTCMTX price is scheduled to rise in just over an hour.
BTCMTX can be purchased here.
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