Bitcoin Battles to Reclaim $38,000 While Bitcoin Minetrix Crosses $4.5 Million With Just One Day to Go
Bitcoin has been in a successful battle to maintain support at $37,500 this week, allowing it to finally reclaim the $38,000 level today.
Traders now wonder if the number-one ranked cryptocurrency can continue higher and break $40,000 heading into the weekend.
Meanwhile, this week, an alternative mining platform is gaining momentum after crossing $4.5 million in fundraising.
With just one day left at the current presale stage, investors are rushing to get positioned in this project ahead of the next block halving as they believe it provides 50x potential.
What you'll learn 👉
Bitcoin Victorious in Reclaiming $38,000, But Can it Continue Beyond $40,000?
After a week-long battle beneath the level, Bitcoin finally reclaimed $38,000 this week.
The cryptocurrency has witnessed an epc bullish surge since breaking above a rising price channel toward mid-October.
The cryptocurrency climbed as high as $38,460 earlier in the week and is now looking to set fresh 2023 highs above the level over the weekend.
Looking ahead, resistance above $38,460 lies at $39,000. This is followed by added resistance at $39,500 (early-June 2022 highs) and $40,000.
If the buyers continue to drive Bitcoin beyond $40,000, added resistance is located at $40,620 (1.414 Fib Extension), $41,000, $42,000 (Janu 2021 highs), and $42,885 (1.618 Fib Extension).
On the other side, the first level of support lies at $38,000. This is followed by support at $37,570, $37,200, $36,000, and $35,000.
The RSI remains above the midline, indicating the bulls continue to control the momentum.
Overall, a break above the $38,460 high will likely propel a push to $40,000 this weekend.
What Altcoins Are Set to Pump Next?
With Bitcoin looking incredibly bullish, traders are starting to turn their attention to newly emerging alternative options that have the potential to provide 50x returns.
Although Bitcoin is the safest investment option moving forward, several lesser-known altcoins can provide considerably higher profits.
In particular, Bitcoin Minetrix ($BTCMTX) has emerged as a true competitor as it seeks to decentralize the cloud mining industry ahead of the next Bitcoin block halving.
Bitcoin Minetrix Flies Past $4.5 Million as Investors Rush to Mining Ecosystem.
Bitcoin Minetrix has raised $4.5 million in a matter of weeks as investors rush to the decentralized mining ecosystem.
The project introduces a novel stake-to-mine concept that allows everyday users to mine Bitcoin easily in an entirely decentralized infrastructure.
It aims to remove the shady practices the centralized cloud mining projects exhibited today.
These ecosystems often tie users into long-term mining contracts, leaving miners short on their expected payout.
Cloud mining allows everyday users to mine Bitcoin without buying or maintaining expensive equipment, allowing them to simply rent computational power from dedicated mining centers.
Given the impressive rise to the $4.5 million milestone, it’s clear that investors are backing this as a disruptive force in the cloud mining sector ahead of the next block halving.
How Does Bitcoin Minetrix Provide Passive Gains?
The platform offers passive income through two avenues: cloud mining and staking.
Users simply have to buy and stake $BTCMTX tokens to earn Mining Credits, which can be burnt for mining time on the Bitcoin Minetrix cloud mining infrastructure.
As smart contracts automatically manage mining allocations, users can be sure they won’t be left short of their expected earnings.
Furthermore, tokenizing the entire process also means that investors control their funds through every step, allowing them to unstake and sell their tokens anytime.
With the Bitcoin block halving scheduled for 2024, cloud mining infrastructures are expected to be increasingly necessary as many miners will be priced out of the market through reduced earning potential, and Bitcoin Minetrix provides the perfect decentralized solution.
The project is already gaining the attention of notable influencers backing the token to surge by 10x, such as Michael Wrubel, who stated he is incredibly bullish on its future.
Just One Day Remaining to Invest – Get Positioned Today
The presale continues to gain momentum after crossing the $4.5 million milestone.
You can currently purchase $BTCMTX for $0.011 in the presale. However, the rising pricing strategy means the cost of the token will increase in just 24 hours.
As a result, those investing earlier benefit from the lower entry prices.
Overall, Bitcoin Minetrix is being touted as a mining revolution and is expected to provide exceptional returns for early adopters.
Visit the Bitcoin Minetrix Presale Today
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