Crypto Volatility to Increase as ETF Approval Deadline Approaches
Concerns about volatility in the cryptocurrency market have caused Solana’s price to drop to its lowest point in three weeks.
Solana is currently trading at $90.8, down 4.9% for the day and 29% from its recent high of $124.
Experts predict that there will be more downside potential and increased volatility as the market reacts to news about Bitcoin ETFs.
Trader Kaz The Shadow warns that this week will see very high volatility and advises inexperienced traders to lower their risk or avoid trading altogether.
Analysts anticipate that Solana could retrace even further before experiencing an uptrend continuation, with price levels potentially dipping as low as $70.
This analysis suggests that once Solana retests $70, it will likely continue its upward trend.
Bitcoin Minetrix Presale Raises Over $7.8 Million
Bitcoin Minetrix is a stake-to-mine project that is currently in its presale phase.
Users can deposit their BTCMTX tokens into the project’s staking dashboard and receive Bitcoin mining credits as rewards.
These credits can then be exchanged for Bitcoin cloud mining power on the platform.
The project has garnered interest from analysts, investors, and media outlets, raising over $7.8 million so far in its presale.
Analysts like Jacob Bury predict a rally for Bitcoin Minetrix, and top media outlets such as crypto.news have featured the project.
In the ongoing presale, BTCMTX tokens are available for $0.0127 each.
Hot Take: Uncertainty and High Volatility Expected in the Crypto Market
The impending approval of Bitcoin ETFs has injected uncertainty and doubt into the cryptocurrency market.
As a result, Solana’s price has been affected, and analysts expect continued high volatility before a potential recovery in the coming weeks.
Despite the market’s turbulence, Bitcoin Minetrix has remained resilient and has raised significant funds in its presale.
This project offers users a stake-to-mine model that allows them to mine Bitcoin without technical expertise or financial resources.
With the potential for a rally and positive media coverage, Bitcoin Minetrix is attracting attention from investors and analysts alike.
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