Bitcoin price rose 4% in the last 24 hours to trade at $44,756 as of 5 a.m. EST, with daily trading volume soaring 47% to $24.5 billion.
The BTC pump was helped by the news that MicroStrategy bought more than $37 million worth of Bitcoin in January, bringing its total holdings to 190,000 BTC worth $8.5 billion. and its unrealized profits exceed $2.2 billion
Shortly after that news, Bitcoin price broke through the $43,000 resistance, preventing it from continuing to rise for over a week.
Bitcoin Price Forecast
Bitcoin’s new price surge is still ongoing, meaning the coin has yet to reach resistance that would halt its progression. The next major resistance is at $45,000, and if BTC manages to overcome it, the next one will be around $46,500.
However, it remains to be seen if BTC will be able to reach that level, especially considering that technical indicators suggest otherwise. The coin’s Bollinger Bands, which saw a massive widening yesterday, suddenly narrowed, which could be an indicator that BTC is about to see a correction.
On top of that, Bitcoin’s Relative Strength Index (RSI) level has reached 70.14, officially entering overbought territory. There is still some room for growth, although these figures suggest that BTC is approaching its ceiling, which could cause traders to start selling before long.
It is also worth noting that BTC has managed to break out of the symmetrical triangle pattern, which is a bullish sign. Despite this, this could still end up being a bullish trap, so traders are advised to be cautious.
A promising alternative to Bitcoin
While Bitcoin’s new surge brought in quite a bit of money for holders of the currency, there is one cryptocurrency that has even greater potential to generate significant profits for those who purchase early.
The project in question is called Bitcoin Minetrix (BTCMTX) – a cloud mining platform for Bitcoin that is selling its native token, BTCMTX, on pre-sale right now.
#BitcoinMinetrix is responsible for the content of only 3 social media accounts:
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—Bitcoinminetrix (@bitcoinminetrix) February 3, 2024
Bitcoin Minetrix seeks to allow people to mine BTC using its cloud technology, meaning they wouldn’t need expensive mining rigs or end up having huge electricity bills.
Additionally, earning BTC through mining is the best way for those on a budget to get as much BTC as possible before the next halving.
The procedure is simple: all you need to do is buy BTCMTX and stake it on the Bitcoin Minetrix platform. In exchange, you will receive credits that will allow you to receive BTC mining rewards.
Bitcoin Minetrix understands that many in the crypto community are unwilling to trust cloud miners, especially since many of these projects in the past ended up being fraudulent. That’s why Bitcoin Minetrix made its platform completely transparent and decentralized, eliminating such concerns in the process.
So far, it seems that the community was willing to accept and trust the project, as its pre-sale raised over $10.5 million at the time of writing, with the current goal of reaching the goal of $11.2 million. If you want to join, you can buy their BTCMTX token in exchange for ETH or USDT, or buy it directly with a credit or debit card.
The price of the token is now $0.0133, but in less than two days there will be a price increase. Therefore, if you are interested in investing, do not act for the lowest possible price.
Visit and buy BTCMTX here.
New crypto mining platform: Bitcoin Minetrix
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free Bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY