The crypto market is on a rebound, as the BTC price shows signs of climbing back to $30,000. At the time of writing, Bitcoin was selling for $28,396.33, recording a 4.37% uptick on the daily chart.
What you'll learn 👉
The Beginning of a Trend Reversal?
Most of the mainstream crypto market has been trading in the green this week.
For example, high-cap assets like Ethereum, Solana, Tron, and Polygon are showing visible signs of a trend reversal. While Ethereum only managed to gain 2.06% in the daily window, Solana surged 8.74% in the same time frame.
Assets like ORBS, LOOM, BIGTIME, and BAND, on the other hand, made their way to the list of hot cryptocurrencies on Tuesday. With little steam left, they are likely to undergo a much-needed price correction in the coming days.
BTC price action, 17 Oct 23, CoinMarketCap
Another trending cryptocurrency of this week is Bitcoin Minetrix, which is already past its $1.6M milestone and will soon list on crypto exchanges. The presale status gives the project a larger room for growth.
But there are more reasons why investors are hoarding Bitcoin Minetrix tokens ahead of the next bull cycle.
Bitcoin Minetrix Brings Bitcoin Mining to the Masses
In a recent report, crypto financial services firm Matrixport expressed that a selection of discounted bitcoin mining stocks or tokens with substantial growth potential could possibly represent the ultimate bet for 2024.
Bitcoin Minetrix, the first stake-to-mine platform to enter the market, represents one of the most obvious choices here.
Although investing in mining companies might appear straightforward, it is not. Most crypto investors have no clue what mining is or how it works. They find the task of finding a single mining company daunting without a fundamental knowledge of the industry’s inner workings, let alone a diversified portfolio.
In response to this hurdle, Bitcoin Minetrix has launched a stake-to-mine platform where users can temporarily lock their native $BTCMTX tokens for mining rewards. The crypto initiative lowers the barriers to entry for retail investors and streamlines the process of investing in a diversified portfolio of Bitcoin mining companies.
Through blockchain tokenization, it gives passive investors the chance to boost their portfolio by targeting one of the most fertile niches in the crypto market. With Bitcoin halving scheduled for 2024, the platform presents a robust opportunity.
#BitcoinMinetrix is now in Stage 2! 🎉 pic.twitter.com/mT63lX9MRP
— Bitcoinminetrix (@bitcoinminetrix) October 16, 2023
Bear Market Has Played to the Advantage of Bitcoin Minetrix
Although the bear market adversely affected most of the market in the last few days, the $BTCMTX presale benefited from it. The massive traffic to the presale over the last few days indicates the pronounced shift from oversaturated coins to emerging cryptocurrencies like $BTCMTX.
High-cap assets have faced challenges in demonstrating significant upward price movements for some time now. If the last two years have taught anything, it is to think beyond high-cap cryptocurrencies with limited growth potential.
A diversified portfolio of young and ambitious new cryptocurrencies such as $BTCMTX, in addition to blue-chip assets like BTC and ETH, is a good strategy to adopt in the current scenario.
Exploring the mining process of $BTC with #BitcoinMinetrix! ⚒#Cloudmining unlocks a direct path to #Crypto:
— Bitcoinminetrix (@bitcoinminetrix) October 16, 2023
✨ Easy entry for beginners
💵 Cost-effective with zero hardware expenses
🌆 No worries about space, noise, or overheating
🚀 Simple upgrades pic.twitter.com/unhHqpWHw2
The Working Mechanism of Bitcoin Minetrix – An Introduction
Bitcoin Minetrix makes investing in Bitcoin mining affordable for the average investor with $BTCMTX tokens. But that’s not all. Bitcoin Minetrix’s stake-to-mine feature is a simplified, passive investment opportunity. A portfolio of $BTCMTX tokens allows you to earn a share of the profit generated by multiple established mining companies.
To start getting mining rewards, you need to temporarily stake your $BTCMTX tokens in the stake-to-mine dashboard on the website. You will get mining power in the form of non-tradeable ERC-20 tokens in exchange for your contribution. When burned, they credit you mining rewards in BTC.
The system of non-tradeable mining credits is implemented as a security measure, thus eliminating the risks associated with hacks and thefts that can occur in the cryptocurrency space.
To strengthen the credibility and security factor further, Bitcoin Minetrix has undergone a rigorous audit conducted by Coinsult.
An Exciting Roadmap for the Upcoming Phases
The Bitcoin Minetrix mobile app and web dashboard are set to go live soon. Until then, users will receive $BTCMTX tokens in exchange for staking.
While the initial bull run for $BTCMTX will be powered by FOMO around the token launch and its unique value proposition, the launch of the platform will generate greater demand for the token in subsequent stages.
Bitcoin Minetrix intends to expand its capacity by collaborating with more cloud mining entities, broadening its reach and influence. That will help the token maintain steady growth, despite the broader market volatility.
Bitcoin Minetrix currently offers a staking APY of 366% for presale investors. The APY, as well as the presale price discount, will decrease with each new stage of the presale.
Disclaimer: CaptainAltcoin does not endorse investing in any project mentioned in this article. Exercise caution and do thorough research before investing your money. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the reader. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
