Bitcoin Price Sees Slight Decrease While Trading Volume Rises
The Bitcoin price has dropped by 0.5% in the last 24 hours to trade for $42,643 as of 1:30 a.m. EST time, with trading volume increasing by 17%. This drop comes as the market continues to monitor the impact of the recently approved spot BTC exchange-traded-funds (ETFs) on the king of cryptocurrencies.
BlackRock recently saw an opportunity to acquire 11,500 Bitcoin in the first two days of trading last week, which is equivalent to about 13 days of Bitcoin production, leading to concerns about a severe supply shortage if this trend continues.
Bitcoin Price Movement and Outlook
This past weekend, the low trading volume triggered enhanced volatility resulting in a drop in the Bitcoin price. However, there is hope for a recovery, based on the fact that the Relative Strength Index (RSI) shows rising momentum. A sustained trajectory could result in the momentum indicator recording a cross-over above the signal line, which would be viewed as a buy signal.
The potential bull run could see the Bitcoin price surpass $48,000 and then clear the $50,000 level, representing a significant 17% increase from current levels.
Bitcoin Minetrix as an Alternative
With the current bear pressure on Bitcoin price, investors are looking for alternatives such as BTCMTX. This tokenized cloud-mining platform presents a budget-friendly way to mine Bitcoin, providing a cost-efficient method for mining and eliminating the need for expensive hardware.
The project has already secured over $8.468 million out of the total $9.103 million target in presale. Each token is currently selling for $0.0128.
Fluctuations in Bitcoin Price and BTCMTX
Amidst fluctuations in the Bitcoin price, there is rising interest in BTCMTX, which is benefiting from the spot BTC ETF hype and the expectation of the halving. It is currently one of the top three crypto presales to consider.
You can visit the Bitcoin Minetrix website to buy BTCMTX in the presale.
Hot Take: Bitcoin Minetrix Offers a Promising Alternative for Mining Enthusiasts
As Bitcoin price continues to fluctuate, BTCMTX provides a budget-friendly option for mining, eliminating the need for expensive hardware and offering a transparent and secure experience. It is currently attracting a lot of interest and may be a potential promising investment for mining enthusiasts.
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.