Bitcoin price fell 0.3% in the last 24 hours listed at $48,312 at 12:30 a.m. EST, with trading volume up 8% to $20 billion.
Despite the small dropCryptoQuant CEO Ki Young Ju predicts that the price of Bitcoin could soar to $112,000 this year if the current trend of inflows linked to spot exchange-traded funds (ETFs) continues. His worst case scenario for Bitcoin would be for it to rise to $55,000.
– Ki Young Ju (@ki_young_ju) February 11, 2024
“The #Bitcoin market has seen $9.5 billion in spot ETF inflows per month, which could increase the realized cap by $114 billion annually,” he said. “Even with $GBTC capital outflows, an increase of $76 billion could raise the realized limit from $451 billion to $527-$565 billion.”
Bitcoin Price Indicates Bullish Rally Above Bullish Pennant
BTC/USDT Analysis by Tradingview
Bitcoin price has seen a gradual uptrend, with bulls using the $25,217 support level as a launching pad to catapult prices higher.
However, BTC is currently in the accumulation stage. After the price reached a resistance level of $49,000, indicating an early break above the upper boundary of the bullish pennant.
If the momentum continues, the bulls could push the price higher, covering distance X, the same distance measured on the pennant as shown on the chart.
However, this rally may be short-term as traders expected the price to drop to the breakout point once the price covers distance X upwards.
BTC indicators remain bullish, with the price holding above the 50-day and 200-day simple moving averages (SMA). Furthermore, the SMAs indicate a golden crossover at $28266, confirming the anticipated bullish rally for Bitcoin price.
The Relative Strength Index (RSI) is trending upward at 72 above the overbought zone of 70, indicating a rebound from the mid-50 level. If the momentum continues, it will push the RSI further towards the overbought zone. overbought.
Bitcoin price on the rise in the short term, targeting $60,000
The bullish pennant still indicates that the bulls have a chance to push the price higher as bullish investors focus on reaching a higher level above the $60,000 mark.
If the bears maintain the momentum, the price could reach $44,230, erasing the gains made at distance X.
Meanwhile, as BTC traders wait for a favorable signal to enter, the BTCMTX cloud mining token continues to attract more investors. The token also offers lucrative opportunities for investors through its staking feature and an upcoming mine airdrop.
Last chance to buy BTCMTX tokens now, pre-sale exceeds $10.7 million
The Bitcoin Minetrix (BTCMTX) The pre-sale has already secured $10.7 million as it moves towards its goal of $11.5 million.
Bitcoin Minetrix is a decentralized tokenized cloud mining platform that allows everyday people to participate in Bitcoin (BTC) mining. The BTCMTX platform offers access to the staking-to-mine feature for investors who purchase in the pre-sale, allowing them to earn passive income.
The feature offers investors full control over their mining activities, allowing them to earn cloud mining credits when they stake their BTCMTX tokens. It also gives them protection against possible scams from third-party cloud mining platforms.
Additionally, users earn staking pool rewards and a 63% annual salary return by staking their purchased BTCMTX.
Exploring the advantages of #BitcoinMinetrix:
🌐 Comfortable and easy access.
💲 Improved efficiency with an optimized cost structure.
🔄 Enjoy peace of mind, free from worries about resale value.
—Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
More rewards in the Minedrop Airdrop competition
Investors who have purchased the BTCMTX token have access to join the $30,000 Mine Throwing Airdrop Contest, where they can compete with other participants for a prize pool of $30,000 and have a chance to receive a reward of $3,000 among the ten lucky winners.
Jacob Bury, a cryptocurrency analyst on YouTube, says BTCMTX could be a 10x investment for early entrants. He himself has also invested substantially in the pre-sale, anticipating lucrative returns.
Investors are rushing to buy more BTCMTX tokens at a discounted price of $0.0134 per token ahead of a price surge in less than three days.
you just need an Ethereum-compatible wallet like MetaMask to purchase BTCMTX tokens, and you can buy them at BTCMTX website exchanging your ETH or USDT for BTCMTX tokens. You can buy directly with your bank card.
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