The Current Bitcoin Price and its Relationship with Bitcoin ETF Ads
The Bitcoin price has increased by 2.5% in the last 24 hours to trade at $43,769 as of 5:13 a.m. EST. This surge is due to the marketing battle for spot Bitcoin ETFs. Three ads were launched this week to support them, including the ones from Bitwise and Hashdex.
Bitwise unveiled the first Bitcoin ETF ad, which featured actor Jonathan Goldsmith. Shortly after, Hashdex revealed its Bitcoin ETF ad. Finally, Bitwise ran its second ad, once more featuring Goldsmith.
The Bitcoin Price: Can the Bulls Overcome the $45,000 Resistance?
Bitcoin’s recent price rejection at the $45,000 mark has led to a corrective phase, allowing bearish sentiment to force a downward trend. Despite this, the overall sentiment for BTC remains bullish, as it maintains its position above both the 50-day and 200-day simple moving averages (SMAs). This reaffirms the general positive momentum and establishes immediate support levels.
The Relative Strength Index (RSI) is trading in an upward direction, positioned above the 50-midline level at 65. There is a possibility that the RSI may surge above the overbought level, indicating heightened buying pressure.
Bitcoin Price Prediction
Bullish investors are focusing on the $50,000 resistance level as a key target for Bitcoin’s price. A successful breach of the $45,000 resistance is crucial for sustaining the upward trajectory and achieving the optimistic target of $50,000. However, bulls have to overcome the existing hurdle at $45,000 to prevent the bears from taking advantage and initiating a corrective phase that could lead to a retracement towards the $38,500 support level.
As the competition heats up in the Bitcoin ETF advertising battle, signaling a potential green light for spot Bitcoin ETFs, investors are eagerly snapping up BTCMTX. This asset stands to gain significantly from the approval, especially at such an attractive price.
Bitcoin Minetrix Secures $5.6 Million, 21 Hours To Price Hike
Bitcoin Minetrix (BTCMTX) is quickly approaching its $6.2 million goal after racing to $5.6 million. Investors have about 21 hours to buy into the presale at the current discounted price of $0.0123 before it increases in the next stage. BTCMTX is a revolutionary Bitcoin cloud mining platform, offering an innovative solution to the challenges faced by traditional Bitcoin mining methods. It aims to decentralize the mining process and enhance accessibility and environmental friendliness by leveraging state-of-the-art cloud-based technology.
Get BTCMTX, Stake to Mine, Earn Passive Income
You have a chance to generate passive income through its stake-to-mine feature. Currently, staking BTCMTX tokens ensures a substantial annual percentage yield (APY) of 108%. You also have the opportunity to join the $30,000 minedrop airdrop, where you’ll be among 10 winners with a chance to receive a $3,000 reward.
Conor Kenny, a cryptocurrency expert with a YouTube channel boasting over 173k subscribers, recently featured Bitcoin Minetrix in one of his videos, explaining how to buy and benefit from its stake-to-mine feature. To participate in the presale, connect your Web3 wallet to the BTCMTX website, then swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.
Hot Take
If Bitcoin can break the $45,000 resistance decisively, the bulls could take over, aiming for the $50,000 resistance level. The competition in the Bitcoin ETF advertising battle has heightened, and the approval of spot Bitcoin ETFs could lead to significant gains for investors.
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