Bitcoin Price Prediction: As the Year of the Dragon begins, BTC market capitalization approaches $1 trillion and traders turn to Bitcoin derivatives, which could see a 10x increase.

adminFebruary 11, 2024

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Bitcoin price has surged 4% in the last 24 hours. Traded for $47,112 As of 7:40 PM ET, trading volume had increased 56% to $42 billion.

BTC’s market cap is currently $924 billion, approaching $1 trillion as the price of Bitcoin signals the end of a correction period that plunged the coin to $38,500 in late January.

East Asia’s “Year of the Dragon” celebrations add to positive sentiment for BTC, analysts say, as history shows a rising pattern during the Chinese New Year holiday.

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Historically, #Bitcoin During the Lunar New Year period, returns average 11%.
But there’s one more thing most people don’t talk about.
Chinese New Year will also be a great boon for tokens such as: pic.twitter.com/5HQ9Yx6enM
— Elja (@Eljaboom) February 9, 2024

Bitcoin price is riding a cup and handle pattern, signaling a bull rally.

source. tradingview.com

Bitcoin is showing signs of a bullish rally as the price forms a cup and handle pattern, indicating a continuation of the bullish trend.

The bulls found support at $16381, which coincides with the bottom of the cup. This caused the price to rebound, rising and reaching the cup neckline.

Despite the corrective move on the downside, the bulls are resilient and bounce back from the support at $37,785, forming the handle of the pattern.

Technical indicators also indicate bullish support as the Bitcoin price is trading above the 50-day and 200-day simple moving averages (SMAs), which currently act as support for the Bitcoin price.

The Relative Strength Index (RSI) shows a rebound from the oversold area of 30, passing the midline of 50 and surging into the overbought area at 72. If the bullish move continues, the RSI could push further into oversold territory, confirming the expected price. Bull rally.

Bitcoin price strength expected to reach $78,000

The cup and handle pattern signals the continuation of a bullish trend, and bullish traders try to take advantage of this to push the price higher. If the bullish momentum continues, bulls could aim to break the previous high (ATH) of $69,000 and reach $78,000.

As BTC traders wait for the signal to enter more buy orders, investors are busy diversifying their portfolios with Bitcoin Minetrix token BTCMTX for lucrative returns. Analysts have predicted that there is a potential for a 10x gain upon launch soon.

BTCMTX secured $10.6 million in pre-sales, reaching $11 million goal

Bitcoin Minetrix (BTCMTX) Funds raised in pre-sales have soared to $10.6 million and we are quickly approaching our $11.2 million goal.

Investors can purchase BTCMTX tokens at the current price of $0.0134 within 5 days before the price increases.

#Bitcoin Metrics Another amazing milestone achieved!
It exceeded $10,400,000. 💰 pic.twitter.com/6WaHtJCB4m
— Bitcoin Minetrix (@bitcoinminetrix) February 9, 2024

By purchasing BTCMTX tokens, you can use the stake-mining feature to take full control of your mining activities. This feature allows you to earn cloud mining credits by staking BTCMTX tokens. It also allows you to participate in decentralized Bitcoin mining, protecting users from possible fraud by third-party cloud mining platforms.

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— Bitcoin Minetrix (@bitcoinminetrix) January 25, 2024

By staking BTCMTX tokens, the platform offers the opportunity to earn passive income from staking pools and an annual salary return of 64%. Currently, over 655 million tokens have already been staked.

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By using BTCMTX token Mind Drop Airdrop Contest. The airdrop gives you the opportunity to compete for a prize pool of $30,000, where you could be one of the lucky 10 people to win $3,000 in rewards.

Conor Kenny, a cryptocurrency analyst on YouTube with over 179,000 subscribers, said BTCMTX Best pre-sale projects of 2024 There is tremendous potential for high returns for early entrants.

You can purchase BTCMTX tokens by participating in the pre-sale. BTCMTX website, connect your digital wallet and exchange ETH or USDT for BTCMTX tokens. You can also make direct purchases using your bank card.

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