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bitcoin price fell 0.36% in the last 24 hours until bitcoin/”>trade at $42,400 at 7:40 a.m. EST, with daily trading volume falling 17% to $20.21 billion.
The slight price decline comes as Matthew Sigel, head of digital asset research at VanEck, expresses bullish sentiment on bitcoin.
During a bitcoin-etf-issuers-will-compete-with-the-likes-of-blackrock/”>podcastSigel said bitcoin could reach an all-time high of around $69,044 in the fourth quarter of this year.
“So this year looks like a solid year. “We believe bitcoin will hit an all-time high in the fourth quarter, like after a contentious election,” Sigel said.
bitcoin price maintains an uptrend within the ascending channel
bitcoin price continues the bullish momentum, maintaining the current uptrend within the ascending channel while the bearish stance is rejected at the $41582 area, coinciding with the lower boundary of the channel, presenting the opportunity for the bulls to regroup.
If the bullish momentum sustains, the price could surpass the resistance level of $49,000, recording a new high.
bitcoin Price Bulls Aim to Reclaim $49,000 Mark
Bullish investors are targeting an advance that could surpass the $49,000 mark.
Bullish momentum is evident as prices are trading above the 50-day and 200-day simple moving averages (SMA). A golden cross formed at the fundamental level of $28,500, a confirmation of the bullish sentiment.
The Relative Strength Index (RSI) remains above the 30 level, approaching the critical midline level of 50 at 45, indicating that the market is preparing for a bullish rally. If the bullish momentum continues, the RSI could rise to the 50 level, indicating overbought positions.
However, if the bears intervene, the price could fall below the ascending channel as the $35,700 level encourages a safe landing spot for the bulls.
Meanwhile, bitcoin Minetrix (BTCMTX) could be an investment opportunity you don't want to miss; some analysts say it may be the best cryptocurrency to buy right now.
bitcoin Minetrix Raises Over $8.7 Million, Aiming to Reach $9.5 Million Mark
The final stage of the bitcoin Minetrix (BTCMTX) Pre-sale is getting closer, with over $8.7 million in financing secured.
Great achievement for #BitcoinMinetrix!
Exceeding the $8,600,000 milestone! pic.twitter.com/r3i9wdtSbg
—Bitcoinminetrix (@bitcoinminetrix) January 17, 2024
The project is currently aiming to reach the $9.5 million goal in the next three-plus days, with a soft cap set at $15 million. BTCMTX tokens are priced at $0.0129. each.
bitcoin Minetrix is a decentralized platform that allows its users to earn rewards by contributing to bitcoin's hash power through the ethereum network, without the necessary experience.
Bet on mine, huge benefits
The project allows any individual to participate in bitcoin (btc) mining through the mining participation feature. By placing stakes, users can easily generate mining credits to access btc for cloud mining.
Embedded within a ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum smart contract, the $BTCMTX #Symbolic serves as an access door bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin cloud mining.
Users can easily purchase and deploy #BTCMTX tokens to acquire cloud mining credits, which can be exchanged for hashing power. pic.twitter.com/PGas2CPjx6
—Bitcoinminetrix (@bitcoinminetrix) January 15, 2024
In addition to the staking-to-mine setup, bitcoin Minetrix also offers a complementary staking protocol for BTCMTX, providing an annual percentage yield (APY) of 74%. More than 559 million BTCMTX tokens have already been staked.
Additionally, you can also participate in the $30,000 Minedrop competition, where rewards will be distributed among ten lucky winners. Each winner will receive $3,000.
Popular crypto YouTube channel CryptoNews highlighted bitcoin Minetrix in its latest video. Host Ari is optimistic and foresees a possible increase in the price of BTCMTX after its successful pre-sale and subsequent launch.
To participate in the pre-sale, visit the BTCMTX official website, connect your digital wallet and exchange your eth or USDT for BTCMTX. You can also buy directly with your bank card.
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