Bitcoin Price Surge
The Bitcoin price surged over 10% in the past week, trading at $47.9K as of 8:30 a.m. EST. This surge led BitMEX founder Arthur Hayes to reverse his stance on shorting BTC.
Now, Arthur Hayes expects Bitcoin to hit a new all-time high of $70k by the end of the year.
US President Joe Biden caused a stir by sharing a photo with laser eyes, which led to market speculation regarding his support of Bitcoin.
Bitcoin Price Prediction
Technical analysis of BTC/USD indicates volatility within the Pitchfork channel, suggesting indecision between buyers and sellers.
Despite the uncertainty, recent data suggests that Wall Street ETFs are buying 12.5x more Bitcoin per day than the network can produce, indicating a long-term pump.
Bitcoin Price Prediction: Potential Outcomes
Bitcoin’s price movement above the Pitchfork Median line but below the resistance suggests a potential short-term pump.
However, given the weak trend indicated by the ADX and the neutral MFI, Bitcoin’s price might continue to move sideways within the channel.
An Optimal Substitute?
Bitcoin Minetrix makes Bitcoin mining easier and cheaper by integrating cloud mining with staking, removing the need for expensive mining hardware. Another passive method to make money on the website is by staking BTCMTX.
Many industry experts have rallied behind Bitcoin Minetrix, predicting a potential 10x increase in value upon launch. The price of BTCMTX tokens is likely to rise in less than three days from the current $0.0134.
Hot Take
Are you interested in Bitcoin mining at a low price? With analysts speculating on a Bitcoin price pump amid the looming halving event, take advantage of the BTCMTX tokens’ anticipated rise in value by securing the lowest price now. You can buy BTCMTX tokens with several other cryptocurrencies, including ETH and USDT, as well as a credit card. Don’t miss out on your chance to invest!
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.