Bitcoin Price Prediction: BlackRock and ProShares’ Bitcoin ETF Trading Volume Surpasses GBTC for the First Time as BTC Cloud Mining Presale Surpasses $10 Million.

adminFebruary 4, 2024

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Bitcoin price has traded up 3.5% over the past seven days. $43.1K As of 2:30 AM EST.

That’s because the Bitcoin ETF managed by BlackRock and ProShares outpaced Grayscale’s GBTC in daily trading volume on Thursday for the first time.

Citing multiple data sources, CoinDesk reported that BlackRock’s IBIT was worth $306 million and Proshare’s BITO was worth $298 million, exceeding GBTC’s trading volume of $291 million. This day was also recorded for the first time. Since launch, daily ETF trading volume has fallen below $1 billion.

There’s still some after-hours trading left, but it looks like BlackRock. $GO It is the first ETF to be traded more than Grayscale. $GBTC In one day.
Total volume for the day was a rather silly $924 million. Since day one, the group’s trading volume has been less than $1 billion. https://t.co/IeIF2COm4F pic.twitter.com/ZtADLBQP63
— James Seyff (@JSeyff) February 1, 2024

Bitcoin price prediction

Looking at a deeper analysis of the 2-hour BTC/USD chart, we can see some volatility with alternating red and green candles, but there is no clear directional trend in the most recent candles.

There appears to be a sideways pattern as the price becomes more stable and moves into a range. In contrast, Bollinger Bands exhibit moderate volatility, with price movements within the upper and middle bands (orange lines). Additionally, tThe relative strength index (RSI) is near 53.98, a neutral zone that is neither overbought nor oversold.

The Awesome Oscillator (AO) shows decreasing momentum, with the green bars no longer increasing in size. The Average Directional Index (ADX) line, also used to measure trend, is very low at 11.54. This indicates a very weak trend or no trend at all. A low value indicates that the market is moving out of a range rather than currently trending.

2-hour BTC/USD chart | Source: TradingView

Bitcoin Price Prediction: Will Bitcoin Rise in the Short Term?

BTC appears to be in a consolidation phase with a slight long-term bullish bias as the price is above the moving average. The price is approaching the middle band (20-day simple moving average), which can act as support in an uptrend.

In line with this, Bitcoin’s recent cumulative streak supports this optimistic outlook. According to Ali on

#Bitcoin We are witnessing one of the most significant cumulative streaks in almost three years!
Notably, the Accumulation Trend Score has been close to 1 over the past four months, indicating larger companies are accumulating. $BTC. These trends indicate strong confidence in the market! pic.twitter.com/QcJOEhzBUb
— Ali (@ali_charts) February 1, 2024

However, early indicators suggest weak momentum, so we do not yet see a strong directional trend in the near term.

Although there is uncertainty about the near-term direction of Bitcoin price, analysts have identified Bitcoin Minetrix, a new cloud mining project, as one of the best penny cryptocurrency investments for explosive growth in 2024.

An attractive alternative to Bitcoin

Bitcoin Minetrix is making affordable Bitcoin mining accessible to everyone by integrating cloud mining and cryptocurrency staking, eliminating the need for expensive mining equipment.

Explore the benefits #Bitcoin Metrics:
🌐 Convenient access made easy.
💲 Simplified cost structure improves efficiency.
🔄 Enjoy peace of mind without worrying about resale value.
It’s important to know this! 🚀 #Bitcoin mining #Mining efficiency pic.twitter.com/tBCVjFELBO
— Bitcoin Minetrix (@bitcoinminetrix) January 25, 2024

Thanks to the stake-to-mine functionality, customers have complete control over their mining activities on Bitcoin Minetrix’s cloud mining platform. You can participate in decentralized Bitcoin mining using cloud mining credits earned by staking BTCMTX tokens without the fraud risks associated with third-party cloud mining services.

Another option to passively earn money on the site is by staking BTCMTX. Participants receive incentives from the staking pool, earning 66% annual returns. More than 634 million tokens have been staked so far.

Participating in Minedrop contests is another opportunity to hold BTCMTX tokens. The contest offers a grand prize of $30,000, with 10 lucky winners receiving $3,000 each.

🎉 #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

BTCMTX appears to be gearing up for an explosive launch, with analysts predicting a rise in Bitcoin price before the April halving.

Prominent cryptocurrency analyst Conor Kenny, who has over 179,000 YouTube followers, supports the project and has observed early engagement. Ticketing This is the best way to earn significant profits upon launch.

The BTCMTX presale has already raised nearly $10.2 million, and the $10.9 million goal is now in sight. BTCMTX token cIt’s currently at $0.0132, but with the price rising in less than two days, interested investors will need to move quickly to secure their holdings before it’s too late.

You can purchase BTCMTX tokens using USDT or ETH on the BTCMTX website.. Bank cards are also accepted.

Visit the official website here.