Bitcoin Price Prediction: Bloomberg Analyst Says Gold Will Surpass BTC in 2024 There’s nothing stopping this Bitcoin derivative pre-sale.

adminJanuary 26, 2024

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Bitcoin price is print Over the past 24 hours, it has recorded a slight increase to $39,978.38 as of 10 AM ET.

Gold is expected to surpass Bitcoin in 2024

Meanwhile, Mike McGlone, senior commodity strategist at Bloomberg, believes Bitcoin is likely to outperform the stock market on a risk-adjusted basis in 2024, but adds that gold may also outperform the king of cryptocurrencies. ..

Despite bullish approval for spot Bitcoin exchange-traded funds (ETFs) and the upcoming halving, macroeconomic factors could hinder BTC from hitting all-time highs in 2024, according to analysts.

In an interview with CoinTelegraph, McGlone said the U.S. market could finally enter a recession this year, which would cause the stock market to decline. This will also have a negative impact on major cryptocurrencies.

“When the stock market and beta go down, Bitcoin goes down even further,” McGlone said. In this environment, he expects gold and long-term Treasury bonds to rise.

Bitcoin price may fall in the coming days

TradingView Charts

BTC/USDT daily chart (Source: TradingView)

A medium-term bearish technical flag is about to be triggered on BTC’s daily chart. The 20 exponential moving average (EMA) line is currently falling towards the 50 EMA line. This suggests future momentum. Bitcoin Prices have fallen further in the last 20 days compared to the last 50 days. The last time these two EMA lines showed weakness was on August 16, 2023, which resulted in BTC falling from a high of $29,259.85 to $25,166 in a matter of days.

These two lines crossing over the next 48 hours could be a sign that BTC has entered a bearish cycle. This puts the price of Bitcoin at risk of falling below the current support of $40,000 and could soon test $38,000. A fall below this subsequent support level could send the Bitcoin price down to $35,390 in the coming days.

Bitcoin Price: BTC Could Consolidate

This bearish thesis may be invalidated if: Bitcoin Price closes the next two daily candles above $40,000. In this more optimistic scenario, BTC may consolidate for a few days before challenging the $42,450 resistance level. A break above this threshold could pave the way for Bitcoin price to rise to the next barrier at $44,430.

With the Bitcoin price showing signs of a potential correction, Bitcoin Minetrix is gaining traction at a surprising rate through pre-sales. upsurge It exceeded 9.2 million dollars.

A new era in Bitcoin cloud mining

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Traditional method: Cash deposit required. pic.twitter.com/l1nHJE6BdT
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Bitcoin Minetrix This has excited investors as it shows the potential to bring much-needed change to the Bitcoin cloud mining sector. Through its innovative platform, the project incorporates decentralization, drastically lowering the barrier to entry for anyone looking to get started with Bitcoin cloud mining.

This could become a very popular platform in the coming months, as Bitcoin is set to become more scarce following the April halving event.

The unique stake-to-mining model cleverly blends Bitcoin mining and staking to provide investors with both profit opportunities. Additionally, investors have access to one of the very few passive income opportunities paid in leading cryptocurrencies without having to maintain the large and complex machines themselves.

Investors Identify BTCMTX as a 10X Opportunity

Bitcoin Minetrix’s pre-sale was an incredible success, raising over $9.2 million. Currently selling for $0.013, BTCMTX can be purchased on the project website using Ether (ETH), Tether (USDT) or a bank card.

Investors will need to hurry as the cryptocurrency price is expected to rise in about 16 hours. With the approval of the U.S. spot Bitcoin ETF Bitcoin Minetrix This may be the last opportunity for small, non-institutional investors to gain access to Bitcoin at a low price.

A new cryptocurrency mining platform – Bitcoin Minetrix