2023-10-24 21:30 |
The price of Bitcoin has exploded by an exceptional 22% this week, allowing it to set fresh 2023 highs above $33,000.
The sudden price explosion has investors wondering if Bitcoin can reach $40,000 by the end of the week.
Meanwhile, investors are rushing to the Bitcoin Minetrix ($BTCMTX) presale, considering their mining returns will exponentially increase with the sudden $BTC surge.
Bitcoin Price Analysis: Can Bitcoin Hit $40,000 This Week? Where’s the Resistance?Bitcoin ($BTC) managed to surge by a whopping 22% this week, surprising many investors in the market.
The sudden price increase is largely attributed to rumors that a Bitcoin ETF is on the way, which will introduce institutional investments into the market.
The 22% price surge allowed Bitcoin to break beyond the previous 2023 highs at $31,700 and set a fresh 2023 high today at a price of $35,200.
With the market moving rapidly, investors are wondering if the hike can continue to $40,000 before the end of the week.
Let’s take a look at the charts;
Bitcoin has been trading inside an ascending price channel since the start of September, setting the stage for a sudden increase.
This week, the market managed to break above the upper angle of the channel, pushing the price of Bitcoin higher.
Yesterday, $BTC surged by a whopping 10%, allowing it to reach the Jan 2022 lows at a price of $32,950.
The price continued further higher today to set the new 2023 highs at $35,200.
Looking ahead, the first level of resistance lies at $35,000. This is followed by resistance at $35,200.
Beyond the new 2023 highs, further resistance lies at $35,760 (1.414 Fib Extension), $37,200 (March 2022 lows), and $38,100 (1.618 Fib Extension).
The coin would then need to push higher to break beyond $39,490 to be clear to make a move toward $40,000 by the end of the week.
On the other side, support lies at $33,520, $32,950, $32,000, and $31,000.
Why Are Traders Rushing to Get Positioned Into Bitcoin Minetrix?While the price of Bitcoin surges, investors are turning their attention to mining projects that stand to benefit from the sudden price hike.
With the price of Bitcoin rising, the returns from mining also rise, resulting in a sudden rush of investors to get positioned into the safer mining ecosystem.
In particular, one newly emerging project continues to turn heads after raising over $2.1 million in the last month alone.
Investors are rushing to Bitcoin Minetrix ($BTCMTX) as they believe it can potentially change the cloud mining sector ahead of the Bitcoin block halving through its Stake-2-Mine ecosystem.
Stake-2-Mine Set to Change Cloud Mining ForeverBitcoin Minetrix ($BTCMTX) continues to snowball in popularity as its stake-to-mine ecosystem is believed to have the potential to change cloud-based mining forever.
Investors are rushing to become early adopters of the token as they believe its revolutionary mining system has the potential to provide beyond 50x profits – pushing the presale above $2.1 million in fundraising.
Bitcoin Minetrix allows users to buy and stake $BTCMTX tokens to gain access to a safe and secure Bitcoin cloud mining platform.
The project is expected to revolutionize cloud-based mining through a tokenized system that lets everyday people mine $BTC without needing to buy expensive equipment.
Cloud mining isn’t new to the industry. It allows regular individuals to profit from mining without needing the necessary knowledge to maintain mining computers.
Instead, users rent computational resources from dedicated mining centers – providing an easy route to the mining sector.
However, as all cloud mining ecosystems are centralized today, many miners are left short of expected earnings and are tied into long-term contracts.
Bitcoin Minetrix intends to change this through stake-2-mine.
Users stake their $BTCMTX tokens to earn Mining Credits, which can be burnt for access to the Bitcoin Minetrix cloud mining ecosystem.
Tokenizing the entire process ensures that miners have complete control over their funds at every step of the way.
It also provides complete flexibility as the $BTCMTX can be unstaked and sold at any time.
Coinsult has fully audited all smart contracts for Bitcoin Minetrix to provide complete peace of mind for investors.
Furthermore, users staking $BTCMTX are also earning an impressive 272% APY on their tokens – doubling their earnings.
The impressive growth of Bitcoin Minetrix demonstrates the confidence investors have in the future of this project.
With just four days to go at the current price, investors are encouraged to get positioned in this project as early as possible.
The presale is selling the token for a price of $0.0112, allowing investors today to be positioned at discounted prices.
However, the price of the token is expected to increase in the next four days.
As a result, those getting positioned early benefit the most as they get positioned at lower prices.
Overall, with Bitcoin prices surging, it’s unsurprising to see Bitcoin Minetrix fundraising climb beyond $2.1 million. Its innovative Stake-2-Mine ecosystem is expected to change the future of mining ahead of the block halving – providing it with unprecedented utility.
Buy Bitcoin Minetrix TodayDisclaimer: We advise readers to do their own 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 cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
The post Can Bitcoin Continue to Surge to $40,000 This Week, While Bitcoin Minetrix ($BTCMTX) Crosses $2.1 Million With Just Four Days Left at Current Price appeared first on CaptainAltcoin.
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