Bitcoin Surges 13% in 7 Days, MicroStrategy Profits Skyrocket! BTC Derivative Hits $11M 🚀

Bitcoin Surges 13% in 7 Days, MicroStrategy Profits Skyrocket! BTC Derivative Hits $11M 🚀


Bitcoin Price Surges by 13%

If you’ve been following Bitcoin prices, you’d know that it surged by 13% last week, reaching a high of $52,141. This pump resulted in MicroStrategy (MSTR), the largest corporate owner of BTC, boosting its profits on their $10 billion Bitcoin stash to well over $4 billion. This impressive surge in profits comes as the company’s BTC holdings moved above $10 billion from 190,000 bitcoins purchased by the end of January.

Bitcoin Price Outlook

Right now, the Bitcoin price is testing the upper boundary of the ascending parallel channel at $53,000. This level is a critical roadblock, and if breached, it could extend the upside potential for BTC. Although the Relative Strength Index (RSI) is at a high of 81, indicating Bitcoin is massively overbought, the Moving Average Convergence Divergence (MACD) reinforces the bullish outlook for Bitcoin prices. With increased buying pressure, Bitcoin prices could overcome the immediate blockade at $53,000, potentially extending the gains to the $55,000 milestone.

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Promising Alternative To Bitcoin

If you’re considering diversifying your crypto portfolio, you might want to look into BTCMTX, the native cryptocurrency for the Bitcoin Minetrix ecosystem. BTCMTX token holders can stake their holdings for credits and redeem them for mining hash power, offering a more accessible way to own Bitcoin. The presale stage of BTCMTX has already generated over $10.96 million in sales out of the $11.850 million target. Plus, investors can purchase BTCMTX for only $0.0135 for a limited time.

  • Benefits of Bitcoin Minetrix for Mining Bitcoin
    • Low cost, no minimum
    • Decentralized, user-owned security
    • Earn free Bitcoin daily
    • Staking rewards of over 50% APY

Conclusion

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With Bitcoin prices continuing to show strength and potential, it’s an exciting time to be part of the crypto market. Whether you’re holding onto Bitcoin or exploring promising alternatives like BTCMTX, the future of cryptocurrency looks promising. Keep an eye on the market and stay informed about the latest developments to make the most of your crypto investments!

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Author – Contributor at | Website

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.