Bitcoin Price Prediction: BTC Soars 23% in One Month, But Analysts Say This Bitcoin Cloud Mining Token Could Multiply by 10

adminFebruary 26, 2024

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Bitcoin price has fallen less than 1% in the last 24 hours. Traded for $51,515 As of 0:19 AM EST, trading volume was down 13% to $14 billion.

This comes after Kiyoung Ki-young, CEO of CryptoQuant, revealed that there is a noticeable surge in Bitcoin accumulation among superholders. This marks a strategic move ahead of a surge in cryptocurrency prices.

#Bitcoin Cumulative address inflow reached an all-time high of 25.3K. $BTC.https://t.co/HrkV3TUGJT pic.twitter.com/FSLUHNlVCZ
— Kiyoung Ki (@ki_young_ju) February 21, 2024

Bitcoin has surged 23% in the past month, with cumulative Bitcoin inflows into addresses reaching an unprecedented high of 25,300 BTC and still rising. This address excludes accounts that have no outgoing transactions, have balances exceeding 10 BTC, and are associated with central exchanges.

If Bitcoin investors continue to accumulate BTC, will the price skyrocket?

Bitcoin price is consolidating and targeting a breakout.

Bitcoin price chart analysis Source: Tradingview.com — BTCUSD Chart Analysis Source: Tradingview.com

Bitcoin price has been on the rise since early February, which is evident at the markup stage. The bulls were able to maintain their bullish momentum with support from the inverted head and shoulders pattern, but were rejected at $53,000.

However, since the rejection, bulls and bears have been struggling to control prices. This has led to a consolidation phase as the bulls aim to break above the upper boundary of the ascending triangle pattern.

BTC is trading above its 200-day simple moving average (SMA), indicating continued bullish momentum. If bulls maintain this momentum, BTC will overcome the 50-day SMA hurdle, pushing the price higher.

Moreover, the 50-day SMA is trading above the 200-day SMA and a golden cross is formed at $42,875. A golden cross indicates continued strength in prices. The Relative Strength Index (RSI) is at 51, near the 50 midline, supporting consolidation sentiment with a possible breakout.

BTCUSD_2024 MACD

Additionally, moving average convergence divergence (MACD) supports bullish momentum, with the moving average line (blue) trading above the signal line (orange), signaling more buying options for investors.

In the histogram, an expanding green bar above the zero line indicates continued positive momentum.

Bitcoin price prediction

According to the current Bitcoin price analysis, BTC is expected to break out of its consolidation phase and its price is expected to move beyond the ascending triangle pattern. The bulls will try to break the current resistance of $53,000, targeting the psychological barrier of $55,000.

However, if bears take control of the price at this level, the price may fall. Support levels at $50,600 and $49,000 act as a buffer against downward pressure.

Meanwhile, analysts say the Bitcoin Minetrix ICO has a 10x potential at launch and could therefore be a better alternative in the medium term.

BTCMTX pre-sale goal of $12.37 million reached: BeDo you want to buy st cryptocurrency now?

Historically, the Bitcoin mining process is known to require significant investments due to high hardware costs. However, there are innovative solutions: Bitcoin Minetrix (BTCMTX). BTCMTX promises to change the perception of Bitcoin cloud mining by reducing costs and increasing security through a decentralized mechanism.

What exactly is it? #BTCMTX?
🌐 #BTCMTX It is a tokenized cloud mining platform that anyone can mine. $BTC In a decentralized way.
🔒 We provide safe and transparent travel.
It solves a critical problem by eliminating the threat of third-party cloud mining scams. pic.twitter.com/OirA4EPSEt
— Bitcoin Minetrix (@bitcoinminetrix) February 25, 2024

The project continues to attract a lot of interest. Now in its 28th round, this pre-sale successfully raised over $11.4 million, heading towards its $12.37 million goal.

28 steps #Bitcoin Metrics It’s live! 🚀
How do mempools affect mining strategies? 🤔 pic.twitter.com/xPz8YVnmed
— Bitcoin Minetrix (@bitcoinminetrix) February 25, 2024

To participate in the pre-sale, purchase BTCMTX for a discounted cost of $0.0137. Buy now as the price will go up in about 4 days.

Stake BTCMTX and Win $3,000 in Minedrop Airdrop Competition

BTCMTX has the following staking features: Stake the tokens you earnOver 700 million BTCMTX tokens have already been staked, earning an impressive Annual Percentage Yield (APY) of 59%.

🌐 The Stake-to-Mine concept presents an innovative approach for reintroduction. #Bitcoin daily mining #Cryptocurrency Mania for a variety of reasons.#BTCMTX Participants are only #Ethereum Compatible Wallets #MetaMask, ensures straightforwardness. 🔒 pic.twitter.com/IPRnX3NMzc
— Bitcoin Minetrix (@bitcoinminetrix) February 25, 2024

By purchasing and staking, you can also gain participation in the project. $30,000 Mind Drop CompetitionTen lucky winners will each receive $3,000 worth of BTCMTX.

According to cryptocurrency analyst and YouTuber Jacob Bury, BTCMTX has the potential to deliver a 10x return on investment to investors upon launch.

To participate in the presale, visit: BTCMTX official website Exchange ETH or USDT to BTCMTX. You can also make direct purchases using your bank card.