2023-12-8 14:15 |
The price of Bitcoin continues to rise as traders eagerly anticipate it breaking the $50,000 level.
The number one ranked cryptocurrency has been on a rampage this week after breaking above a rising price channel to surge as high as $44,000 throughout the week.
With the bulls in charge, traders seek alternative projects that benefit from the Bitcoin price hike.
In particular, Bitcoin Minetrix ($BTCMTX) is turning heads as it provides a route to mining $BTC during the bull run, helping to secure long-term passive rewards.
As a result, the presale has surged past the $5 million milestone as investors expect it to be the next token to pump.
Bitcoin Analysis: Where is the Resistance on the Way to $50,000?With the bullish momentum behind Bitcoin continuing to rise, traders expect a speedy break above the $50,000 level – perhaps even over the weekend.
The cryptocurrency has been on an absolute tear since breaking $30,000 in October, as it surged higher to reach the $44,000 resistance this week.
The resistance is provided by a 1.414 Fib Extension, and Bitcoin has retraced slightly over the past two days since meeting this level.
Nevertheless, traders are still expecting further upside gains, with many suggesting the $50,000 level will be hit in the coming days.
Looking ahead, the first level of resistance lies at $44,000. This is closely followed by resistance at $44,750, provided by the February 2022 support.
Above this, resistance is $47,735 (1.618 Fib Extension), $48,000, $48,280 (2022 highs), and $50,000.
On the other side, support is first expected at $42,000 (Jan 2021 highs). This is followed by support at $40,000, $39,500 (June 2022 highs), $38,000, and $36,000.
What Other Tokens Are Traders Backing Next?While Bitcoin surges higher, traders are looking for alternative projects that can yield higher returns relative to Bitcoin.
Of course, Bitcoin is the safest option. However, many traders are starting to realize that a surge to $100,000 would produce slightly higher than a 2x return.
As a result, they’re turning their attention to newly emerging altcoins capable of 10x returns.
In particular, Bitcoin Minetrix ($BTCMTX) is one project that goes hand-in-hand with Bitcoin as it provides an easy route to decentralized mining for long-term passive gains during the bull run.
Bitcoin Minetrix Surges Past Epic $5 Million Milestone as Traders Rush to Stake-2-Mine EcosystemThe presale for Bitcoin Minetrix ($BTCMTX) has exploded past the $5 million milestone level as traders rush to get positioned in the Stake-2-Mine ecosystem.
The project introduces a novel stake-2-mine concept that helps everyday users mine Bitcoin in a decentralized manner.
Bitcoin Minetrix seeks to tokenize the cloud mining industry, helping remove the prevalent scams that plague the sector and prevent everyday users from mining Bitcoin.
Cloud mining isn’t a new concept in the industry. It allows everyday users to easily mine Bitcoin without buying or maintaining expensive mining equipment by renting hashing power in a dedicated mining center.
However, the centralized entities in the sector exhibit shady practices, such as locking miners into long-term contracts and leaving them short on earnings.
Bitcoin Minetrix intends to change this through its tokenized system.
Users simply have to buy and stake $BTCMTX tokens to earn Mining Credits, which can be burnt in exchange for mining time.
Tokenizing the ecosystem ensures miners control their assets at every step.
Furthermore, as audited smart contracts allocate earnings, miners can be sure to receive all of their mining rewards.
There’s also a staking system on the platform that is producing an impressive 120% APY, adding another revenue stream for earning;
Time to Get Positioned With Just Four Days Remaining at Current Price LevelThe presale for Bitcoin Minetrix continues to impress as investors rush to get positioned in this tokenized cloud mining infrastructure.
With the price of Bitcoin rising, experts believe that $BTCMTX is set for explosive growth following the presale.
Users can currently purchase $BTCMTX for $0.0121.
However, there’s a rising pricing strategy in place that will increase the cost during subsequent presale stages.
Therefore, those getting positioned earlier benefit from the lower entry price.
Overall, Bitcoin Minetrix is in a solid position for parabolic gains once it launches as the price of Bitcoin continues to increase.
Visit Bitcoin Minetrix Today
Disclaimer: 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 Bitcoin Continues to Surge Higher as Traders Anticipate $50,000, While Bitcoin Minetrix Presale Breaks $5 Million Milestone – Next Token To Pump? appeared first on CaptainAltcoin.
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