Bitcoin Price Prediction: As the BTC ETF approaches its latest filing, this Bitcoin bull market play is selling out quickly.

adminJanuary 7, 2024

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Bitcoin price has surged 4% in the last 7 days and is trading at: $44,000 1:45 AM EST.

Expectations for Bitcoin ETF approval are growing after the exchange filed updated filings.

This revised 19b-4 filing is filed on behalf of: black stone, grayscaleand fidelityIn particular, it suggests that the exchange is expecting approval.

Still, not everyone is buying into the ETF story. Dennis Kelleher, CEO of nonprofit organization Better Markets, urges the U.S. Securities and Exchange Commission (SEC) to refrain from approving physical Bitcoin exchange-traded funds (ETFs), saying it violates the SEC’s basic principles. He claimed that it could be done.

In a Jan. 5 message to SEC Secretary Vanessa Countryman, Kelleher said investors would likely face significant risks if SEC approval were to uncover a Bitcoin ETF. Approving such investment products would be a “historic mistake,” he said.

Actually that @BetterMarketsa person with a special interest @Warren Lee (Person caught unethically moderating softball questions @GaryGensler), I think we can still go strong, having expended considerable resources to put this letter together (in 11 hours). pic.twitter.com/l961Tm5oRx
— Matt Ahlborg (@MattAhlborg) January 5, 2024

Bitcoin Price Prediction: Where Is BTC Heading Now?

A deeper analysis of the 1-hour BTC/USD chart shows that the bulls are facing some resistance at $44.2K as the Bitcoin price is still moving within a range. The Relative Strength Indes indicator is moving northward, suggesting bullish pressure. The MACD indicator also maintains its movement in the green zone, showing a bullish edge.

If the Bitcoin price breaks out of the range to fill the resistance, it is likely that the price will continue to rise, indicating an uptrend. The 50-day moving average is also surpassing the 200-day moving average, giving Bitcoin the upper hand.

The level of volatility in the Bitcoin price is currently low, as evidenced by the Bollinger Bands moving close to each other. This may be due to reduced trading activity, with BTC’s trading volume down 41% in the last 24 hours.

BTC/USD 1-hour chart | Source: TradingView

Meanwhile, as the Bitcoin uptrend attempts to break through the resistance line, BTCMTX token from Bitcoin Minetrix Pre-orders are approaching their goal and are selling out quickly. Pre-sales raised more than $7.7 million of the $8 million target, demonstrating tremendous investor confidence in the project.

Bitcoin Price Prediction: Is There More Upside for Bitcoin Minetrix?

Bitcoin Minetrix is an innovative cloud mining solution that aims to overcome the major obstacles that lead to unnecessary costs associated with cloud mining.

The project’s emphasis on decentralization is consistent with expanding passive income opportunities to a wider audience, including newcomers to the complex world of blockchain technology. This innovative approach makes Bitcoin Minetrix Highest presales in 2024.

The key focus is Bitcoin Minetrix The goal is to make cloud mining more cost-effective for individuals interested in participating. Instead of investing in expensive dedicated hardware, users can start the process by staking BTCMTX tokens.

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🔄 No need to worry about reselling. Let your mining company handle the upgrades! pic.twitter.com/enQbatCTpz
— Bitcoin Minetrix (@bitcoinminetrix) January 6, 2024

Tokenized Item

BTCMTX tokens, currently worth $0.0127, can be acquired using Ether (ETH), Tether (USDT) or bank cards through the project website. Once acquired, tokens are staked and investors receive token rewards.

Investors must burn the gas tokens they receive to access the project’s cloud mining features. This unique approach ensures that participants actively participate in the ecosystem while optimizing reward distribution.

With analysts predicting a surge in Bitcoin prices following the approval of a spot Bitcoin ETF, investors could make capital gains and also take advantage of the opportunity to generate passive income from BTC.

The impending halving event will further intensify the difficulty of acquiring BTC, potentially pushing the price higher, offering significant rewards to Bitcoin Minetrix investors.

The price of BTCMTX is expected to rise within 4 days, so potential investors are advised to act immediately. BTCMTX can be conveniently purchased directly from the official website for those interested in its potential benefits. Don’t miss your chance to participate in this innovative cloud mining venture.

Visit Bitcoin Minetrix here..