Bitcoin Price Prediction: BTC rises 21% in one month as Bitcoin ETF institutional buying dominates and Bitcoin Minetrix pre-sales surpass $11 million.

adminFebruary 19, 2024

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The price of Bitcoin has surged 21% in the past month amid massive inflows into the Bitcoin ETF traded by the cryptocurrency king. $51.7K As of 2:30 AM EST.

The surge comes as X analyst Ali Martinez pointed to a decline in daily Bitcoin address creation, indicating that institutions are leading the recent rally as retail traders take more of a backseat.

For the price #Bitcoin increases and new creation decreases noticeably. $BTC Daily address.
This trend reflects the current lack of retail engagement. #BTC The rally suggests recent price movements have been fueled primarily by institutional factors… pic.twitter.com/DVVfcQ20bG
— Ali (@ali_charts) February 16, 2024

According to Bloomberg Intelligence ETF analyst Eric Balchunas, Bitcoin exchange-traded funds (ETFs) saw net inflows of more than $2.2 billion between February 12 and February 16. BlackRock became the biggest beneficiary, It recorded positive inflows of $1.6 billion over the past week.

Ten Bitcoin ETFs recorded net gains of more than $2.3 billion last week. For context, that’s more than any other ETF (out of 3,400). $GO I was in second place alone. This brings the total net amount to more than $5 billion, which is more than BlackRock as a whole has accepted. Again, this is all net GBTC bleed. Throw it away… https://t.co/PlxnfQ7ETf pic.twitter.com/04LTixd3Zt
— Eric Balchunas (@EricBalchunas) February 17, 2024

Bitcoin Price Prediction: Bitcoin Shows Possibility of Breakout

Bitcoin’s current trajectory suggests a cautiously optimistic mood as the price is hovering around the mid-BB. The recent compression of the bands suggests a period of low volatility and could potentially lead to significant Bitcoin price swings escalating. Bitcoin price is also above this SMA (orange line), suggesting a bullish trend in the medium term.

On the other hand, the Money Flow Index (MFI) value is below 30, which indicates that Bitcoin may be in oversold territory, potentially signaling a buying opportunity.

Also according to coin glass statistics, Bitcoin futures open interest has surpassed $21 billion, reaching its highest level in more than two years, a level last seen in November 2021, when the cryptocurrency king hit an all-time high of nearly $70,000. . This adds to further feelings of optimism as the prospect of history repeating itself fills the air.

3-hour BTC/USD chart | Source: TradingView

Meanwhile, Bitcoin Minetrix, a new cloud mining project, is emerging as an attractive alternative for investors, with analysts now ranking it as one of the best pre-sale projects of 2024. The ICO has so far raised more than $11 million of its $11.85 million target, demonstrating tremendous investor confidence in the project.

Promising Bitcoin derivative with 100x return potential

Bitcoin Minetrix We want to reduce the cost and increase security of Bitcoin cloud mining. Compared to other cloud mining platforms, this platform provides entry-level access to cloud mining and allows investors to profit with BTC through stake-mining features.

#Bitcoin Metrics It revolutionized cloud mining by combining equity holdings and cloud mining.
We are leading the field in tokenized cloud mining with a focus on transparency, independence, and safety. #BTCMTX We do our best to provide you with a reliable route. $BTC Mining enthusiast. 🔄🔨 pic.twitter.com/FaWyl9ZFdW
— Bitcoin Minetrix (@bitcoinminetrix) February 18, 2024

BTCMTX holders can stake their tokens to earn cloud mining credits, which are exchanged for hash power. By staking your BTCMTX coins, you can earn 61% annual returns.

BTCMTX token holders can participate in an airdrop contest where 10 lucky people will win $3,000 each.

According to YouTuber and cryptocurrency researcher Jacob Bury: Bitcoin Minetrix It has 100x potential at launch.

The current price of BTCMTX token is $0.0135, but there will be a price increase within two days. Therefore, interested investors must act quickly to secure the lowest price. Users can purchase tokens by exchanging ETH or USDT on the official BTCMTX website. Bank cards are another option.

Visit Official Bitcoin Minetrix Page here.