Bitcoin Price Prediction: Investors are flocking to this Bitcoin cloud mining ICO after JPMorgan CEO Jamie Dimon calls BTC a ‘pet rock’ that ‘does nothing.’

bitcoin price fell Over the last 24 hours, it was trading at $42,527.68 as of 9 AM ET.

This happened on a day when JPMorgan CEO Jamie Dimon was criticizing Bitcoin as a “pet rock” that “does nothing.”

Jamie Dimon Criticizes BTC Again

“There are cryptocurrencies that can perform something and have value, and there are cryptocurrencies that do nothing, which I call pet rocks. #BitcoinOr something like that,” he says. @JPMorgan CEO Jamie Dimon. “There are a few use cases. Everything else is people transacting with each other.” pic.twitter.com/EnUBuIEHkI

— Squawk Box (@SquawkCNBC) January 17, 2024

While Dimon mentioned some use cases for blockchain technology, such as distributed ledgers and the ability to transfer value, BTC Perpetual Critic said there are few use cases for Bitcoin. He added that most activity related to Bitcoin is “people transacting with each other.”

Bitcoin price falling below positive trend line

BTC/USDT 4-hour chart (Source: TradingView)

that much Bitcoin The price has been trading in a sideways channel for the past few days. The mid-level of this price channel corresponds to $42,450 and is currently being tested by BTC.

If the cryptocurrency king closes a 4-hour candle below this important price within the next 24 hours, it will be trading below the short-term positive trend line shown on the 4-hour chart. This could expose the Bitcoin price to the risk of a near-term plunge towards the next major support level at $40,160.

The bearish argument could be invalidated if BTC closes the next two candles above the positive trend line. In a more optimistic scenario, Bitcoin price could attempt to break the upper limit of the consolidation channel.

It may then overcome the resistance level of $44,440 before continuing its rise to $46,700 in the coming week.

Bears have a slight advantage

Technical indicators on the BTC 4-hour chart show that bears have gained an advantage over bulls over the past few hours. During this period, the relative strength index (RSI) crossed below the simple moving average (SMA) line.

This major bearish technical flag is a signal that the bears are currently stronger than the bulls. As a result, the seller may begin to put pressure on the seller. Bitcoin This is a price that buyers cannot refuse. This will cause the price of Bitcoin to fall.

Additionally, BTC’s previous bullish trend appears to be coming to an end, as evidenced by the Moving Average Convergence Divergence (MACD) on the 4-hour chart.

Over the past 24 hours, the slope of the MACD histogram has reversed to negative, indicating that a bearish trend reversal may occur soon. Investors and traders will want to keep an eye on the gap that currently exists between the MACD and the MACD signal line to narrow. These two lines crossing could serve as confirmation that BTC has entered a short-term negative cycle.

Although there is a risk that the price of Bitcoin will decline in the future, Bitcoin Minetrix It is building momentum at a rapid pace through pre-sales.

How to get BTC without the hassle of mining

Cloud mining BTC is a way to accumulate cryptocurrency without purchasing it. However, mining Bitcoin requires a certain level of knowledge and expertise. Additionally, mining equipment must be continuously maintained and hosted in a temperature-controlled space. This is why Bitcoin Minetrix It’s a project worth looking into.

This project introduces an innovative approach to mining through cryptocurrency staking. Besides, Bitcoin Minetrix We handle all operational requirements and maintenance, lowering the barrier to entry for anyone looking to start mining BTC in the cloud.

Earn money with BTC

great achievement #Bitcoin Metrics!

Exceeded $8,600,000! 🌐 pic.twitter.com/r3i9wdtSbg

— Bitcoin Minetrix (@bitcoinminetrix) January 17, 2024

All investors need to do to take advantage of this passive income opportunity paid in BTC is purchase BTCMTX from the project. Website.

After purchasing, you need to stake these tokens in exchange for “gas” tokens, and then burn the gas tokens. Bitcoin Minetrix Cloud mining power.

BTC is becoming increasingly scarce. Not only will mining rewards be halved during the next halving event scheduled for April, but the market leaders are approaching their maximum supply of 21,000,000.

As a result, it will be difficult for both new and existing BTC to come out. With the introduction of spot Bitcoin ETFs (exchange-traded funds) in the United States, the price of the market leader is likely to surge soon.

Keeping all these factors in mind, Bitcoin Minetrix It seems to be the only viable and cheap way to mine and accumulate BTC.

BTCMTX available for purchase here.

Related articles:

A new cryptocurrency mining platform – Bitcoin Minetrix

• Thanks to Coinsult
• Decentralized, secure cloud mining
• Get free Bitcoin every day
• Native token currently in pre-sale – BTCMTX
• Staking Rewards – APY 100% or more