Bitcoin price has risen 1.7% in the last 24 hours to trade at $42.5K starting at 1:09 am EST.
The recent momentum comes as BlackRock’s iShares Bitcoin ETF (IBIT) achieved an impressive milestone by accumulating $2 billion in assets under management on Friday, a first for recently launched spot Bitcoin ETFs. IBIT now ranks third in terms of asset accumulation among the more than 600 ETFs launched last year in the United States.
Bitcoin Price Prediction – How Far Can It Go?
Looking at an in-depth analysis of the 2-hour BTC/USD charts, we see that Bitcoin price is currently near the upper band of the Bollinger Bands (BB), suggesting that it could be in the range of higher volatility. The price is also moving above the 20-period moving average (orange line), which generally indicates bullish momentum as the bulls look to drive the price of Bitcoin higher.
Awesome Oscillator (AO) histograms show market momentum. The transition from red to green bars indicates a change from bearish to bullish momentum. He The average directional index (ADX), the red line below the AO that is also used to measure the strength of a trend, is around 34, well above the 25 level that is considered to indicate a strong trend.
The chart also shows a pair of bullish engulfing candle patterns, designated (BE), a good indication of bullish dominance.
BTC/USD 2-hour chart | Fountain: TradingView
Bitcoin Price Prediction: What Are the Chances of a Bearish Reversal?
The Relative Strength Index (RSI) hovers around the 70 level and a reading above 70 typically indicates that an asset may be overbought and a pullback or consolidation may be necessary.
XForceGloba told its 17,000 followers on
Remember, after we move towards my planned targets (which we pretty much already did), next should be a corrective decline to $33,000-$35,000 levels to end the broader correction. Multi-week calendar, no need to ask when. It takes time.#Bitcoin https://t.co/SwyooR6qEE
-XForceGlobal (@XForceGlobal) January 28, 2024
Meanwhile, as the price of Bitcoin rises, Bitcoin Minetrix is emerging as a compelling new option for investors looking Presales with explosive profits in 2024.
Is BTCMTX a compelling alternative to BTC?
Bitcoin Minetrix is an innovative solution in the Bitcoin mining space. Built on the Ethereum blockchain, it offers users the opportunity to earn passive Bitcoin rewards. The platform integrates the concepts of cryptocurrency and cloud mining, making Bitcoin mining accessible to a broader audience.
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—Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
The pre-sale of BTCMTX has already raised over $9.6 million as it moves towards the $10.3 million goal. BTCMTX tokens can be acquired at a price of $0.0131, but an increase is expected in less than three days.
Bitcoin Minetrix The cloud mining framework, equipped with mining participation functionality, aims to provide users with full governance over their mining operations. Staking your BTCMTX tokens generates cloud mining credits, making it easier for you to participate in decentralized Bitcoin mining while protecting you against fraud common on third-party cloud mining services.
The platform also offers the opportunity to earn passive income by participating in BTCMTX. Participants in the staking process receive rewards from the staking pool and an annual return of 69%. Currently, more than 602 million tokens have been staked.
Owning BTCMTX tokens also allows you to participate in the Minedrop contest. This contest allows contenders to compete for a $30,000 prize pool, with each of the 10 lucky winners receiving a $3,000 prize.
As noted by Conor Kenny, a cryptocurrency analyst on YouTube with a subscriber base exceeding 179,000, early pre-sale participation promises substantial returns upon launch on major exchanges.
To join, visit the BTCMTX website, link your digital wallet and exchange your ETH or USDT for BTCMTX tokens. Investors can also use a bank card.
Visit the Bitcoin Minetrix official website here.
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