Bitcoin Price Prediction: Runaway Bitcoin Minetrix ICO closes at $11 million as Bitcoin ETF sucks up 10x more BTC than miners produce.

adminFebruary 14, 2024

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Bitcoin price has surged 4.5% in the last 24 hours. Traded for $49,895 As of 8:25 AM EST, trading volume was up 100% to $42.25 billion.

The rise in Bitcoin prices occurred as spot Bitcoin exchange-traded funds (ETFs) attracted 10 times more Bitcoin on February 12 than miners could produce.

preliminary data At least 10,280 Bitcoin (BTC) worth $493.4 million flowed into spot Bitcoin ETFs yesterday, with BlackRock’s iShares receiving the majority of $374.7 million. Fidelity’s Wise Origin Bitcoin Fund saw inflows of $151.9 million, while the Ark 21Shares Bitcoin ETF saw inflows of $40 million.

🚀 #Bitcoin ETFs are soaring! Over the past two trading days, the spot BTC ETF has consumed 10 times more Bitcoin than miners have produced.
📈Preliminary data shows net inflows reaching a whopping $493.4 million, with BlackRock’s IBIT leading the way with $374.7 million. 🏦https://t.co/VNJSOB9k4K
— SWFT Blockchain (@SwftCoin) February 13, 2024

at the same time, Blockchain.com data includes: rainitcoin miners are produced 1,059 BTC worth $51 million represents 10% of the BTC acquired by the spot ETF.

However, outflows of $95 million from Grayscale and $20.8 million from the Invesco Galaxy ETF somewhat offset net inflows of nearly $500 million.

Bitcoin price to strengthen beyond bullish pennant

Bitcoin price has crossed the upper limit of the bullish pennant pattern, indicating a continuation of the upward trend. The price has reached the $50,000 mark as the bulls seem ready to push the price higher.

bitcoin price

BTC/USDT Analysis by Tradingview

Bitcoin price has been on the rise since October 2023, with bulls using the $25,200 support level as a springboard for price increases. The $49,000 resistance level led to a consolidation phase, forming a bullish pennant pattern.

Bitcoin price could rise to $60,000 in the short term.

Traders took advantage of the bullish pennant pattern to push the price above the pennant.

If momentum continues, this will be the best opportunity to drive the price higher, covering X distance, the same distance measured from the pennant shown on the chart.

However, this rally may be short-lived as traders expected the price to fall to the breakout point once it covers distance X.

Prices above the 50-day and 200-day simple moving averages (SMAs) confirm the expected rally.

The Relative Strength Index (RSI) is trending upward at 73, above the overbought zone of 70, indicating a rebound from the midline of 50. If momentum continues, RSI will push further into overbought territory.

BTCMTX Pre-sale Exceeds $10.7 Million, Earn Rewards with Stake-to-Mine

The bullish outlook for Bitcoin is also attracting investors.BTCMTX presales soared past $10.7 million as it raced toward its $11.5 million goal.

@MarathonDH Facing difficulties as power outages become more severe #Bitcoin The mining site at the Applied Digital Ellendale facility yields a hash rate of 7.8EH/s.💡🔌🛠️
How can the industry mitigate the risks posed by infrastructure disruptions like this?#Bitcoin Metrics also… pic.twitter.com/FisfOLTjck
— Bitcoin Minetrix (@bitcoinminetrix) February 12, 2024

BTCMTX is a decentralized platform for tokenized cloud mining, providing Bitcoin mining to ordinary investors. BTCMTX users can enjoy simplified cloud mining services through the stake-to-mining function. Stake BTCMTX tokens to earn rewards from a staking pool that pays 62% annual returns.

The platform’s features also protect against potential fraud that has plagued other cloud mining platforms.

Explore mining opportunities $BTC through #Bitcoin Metrics! 🔍⛏️
✅ Smooth start for beginners.
💰 Cost-effective as there are no equipment costs.
🌟 No worries about area, noise, or temperature.
🔄 You can easily upgrade without any hassle. pic.twitter.com/7Fo9jdeiIZ
— Bitcoinminetrix Service Team (@bitcoinminetSTM) February 10, 2024

Earn BTCMTX tokens now for a potential 10x ROI and earn rewards on Minedrop Airdop

BTCMTX tokens are also $30,000 Mind Drop Airdrop Contest10 people will have the chance to win up to $3,000 each.

Crypto analyst Jacob Bury expressed confidence in BTCMTX, predicting a potential 10x return on investment for early backers upon launch.

Investors have less than 24 hours to purchase BTCMTX tokens at $0.0134 per token before the price increases in the next phase. So if you’re interested in securing the best price, act fast. To purchase BTCMTX tokens and participate in the presale, all you need is a digital wallet like MetaMask.

Tokens can be purchased at: BTCMTX website Exchange ETH or USDT for BTCMTX tokens. You can also make direct purchases using your bank card.

A new cryptocurrency mining platform – Bitcoin Minetrix