Bitcoin Price Prediction: Arthur Hayes Stops Shorting BTC, Joe Biden Posts Laser Eyes Meme After Super Bowl, Experts Say This BTC Derivative Is Ready To Explode, Sees $70K ATH This Year.

adminFebruary 13, 2024

join us telegram A channel to stay up to date on breaking news coverage

Bitcoin price traded at: $47.9K As of 8:30 a.m. ET, it followed a 10.3% surge last week amid optimism that has strengthened in recent days as the Chinese New Year begins.

A surge was triggered. BitMEX founder Arthur Hayes takes a slice of humble pie after previously saying he was selling BTC in anticipation of it falling to $35,000 before bouncing back.

Now, Hayes says he is no longer shorting the king of cryptocurrencies and expects Bitcoin to hit a new all-time high of $70,000 by the end of the year.

Meanwhile, US President Joe Biden also attracted attention by sharing a photo of himself with laser eyes on his X (formerly Twitter) account. Because it was the Bitcoin bull that started using these glowing eyes, At first glance, it appeared that Biden had turned into a Bitcoin ambassador.

In fact, the tweet vaguely stated the following: The Kansas City Chiefs won against the San Francisco 49ers in the 2024 Super Bowl.

Just like we drew. pic.twitter.com/9NBvc5nVZE
— Joe Biden (@JoeBiden) February 12, 2024

Bitcoin price prediction

Analysis of the 1-hour BTC/USD chart shows that the candlesticks within the Pitchfork channel are highly volatile, with wicks on both sides. This suggests Bitcoin trading is indecisive between buyers and sellers, with prices 0.33% lower than the previous 24-hour price. The Money Flow Index (MFI) is somewhat neutral at 42.29, but slanted to the downside, indicating that there is no significant buying or selling pressure at the moment.

On the other hand, the average directional index (ADX) is 16.14, indicating a weak trend. ADX values below 25 often indicate that there is no strong trend in the market and price movements may be more random or based on range-limiting conditions.

Despite recent uncertainty, Bitcoin appears poised for long-term upside, as evidenced by market activity. This can be attributed to recent data suggesting that Wall Street ETFs are purchasing 12.5 times more Bitcoin per day than the network can produce.

₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Wall Street ETFs are buying 12.5x more. #bitcoin This is more than the network can produce in a day, increasing demand and prices.pic.twitter.com/RHmkGw8k1o
— ₿itcoin 📄 Documenting (@DocumentingBTC) February 12, 2024

Bitcoin Price Prediction: What are the chances that BTC will not continue to rise?

With the price currently moving above the Pitchfork central line (red line) but below the resistance line, the Bitcoin price may see a near-term uptrend as there is still room to retest the resistance line. However, if the price crosses the upper trend line of the Pitchfork channel on a downward trend with significant volume, it could indicate a potential trend reversal.

Given that ADX indicates a weak trend and MFI is neutral, it is possible that the price will continue to move sideways within the channel, especially if a breakout fails.

1-hour BTC/USD chart | Source: TradingView

Meanwhile, many investors are turning to Bitcoin Minetrix, a Bitcoin cloud mining project. Pre-sale sales topped $10.7 million as the company rocketed toward its $11.5 million goal. It is also where they are ranked by analysts. that much Top Presales in 2024.

Best replacement?

Bitcoin Minetrix By integrating cloud mining and staking, it eliminates the need for expensive mining hardware, making Bitcoin mining easier and cheaper for almost everyone.

introduction #Bitcoin Metrics: Gateway to Simplification #bitcoin mining! 🚀⛏️
Anyone can mine using a tokenized cloud mining platform. $BTC In a safe and transparent way.
Say goodbye to third-party scams and take control of your mining journey. pic.twitter.com/b9fZpDbDMH
— Bitcoin Minetrix (@bitcoinminetrix) February 8, 2024

Users have full control over cloud mining using Bitcoin Minetrix’s stake mining feature. By staking BTCMTX tokens you can earn cloud mining credits that can be used for decentralized Bitcoin mining. This also eliminates the risk of fraud associated with third-party cloud mining services.

Another passive way to make money on the website is by staking BTCMTX, which currently generates returns of 63% per annum. The number of staked tokens reached approximately 661 million. There is also a Minedrop contest where 10 lucky winners will receive $3,000.

🎉 #Bitcoin Metrics $30,000 Minedrop is now available! 🎉
Get ready for your chance to win $30,000 worth of prizes $BTCMTX!
For your chance to win one of 10 $3,000 prizes, follow the steps in the link below. $BTCMTX Goods! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N
— Bitcoin Minetrix (@bitcoinminetrix) October 5, 2023

Popular cryptocurrency expert and YouTuber Jacob Bury, who has 27,000 followers, gave it his stamp of approval. Bitcoin MinetrixWe predict that the value will likely increase tenfold upon launch.

with analyst guess With the price of Bitcoin rising amid the upcoming halving event, Bitcoin Minetrix is also perfectly positioned to profit.

The price of the BTCMTX token is expected to increase within 3 days from its current $0.0134, so interested investors should act quickly to secure the lowest price.

You can purchase BTCMTX tokens with credit cards as well as several other cryptocurrencies, including ETH and USDT.

Visit Bitcoin Minetrix. this link Complete your purchase.