Bitcoin Price Prediction: Unusual BTC surge coincides with dollar strength, Treasury yields rise as Bitcoin Minetrix surpasses $11 million.

adminFebruary 18, 2024

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Bitcoin price has fallen slightly over the past 24 hours. Deal for $51,989 As of 10:43 PM ET, trading volume was down 29% to $27.24 billion.

This small slump comes amid a 30% rise in BTC prices since January 23, an unusual occurrence that coincides with a period of dollar strength and rising U.S. Treasury yields. Bitcoin typically performs best during periods of a weak dollar and falling Treasury yields.

BTC’s strong performance can be attributed to strong inflows into the spot Bitcoin exchange-traded fund (ETF) launched on January 11th. Additionally, investors may be more optimistic than usual about Bitcoin due to the halving scheduled for April.

❗POSITION: Bitcoin’s latest rally is different as BTC rises alongside US dollar and Treasury yields❗
Bitcoin recently posted a double-digit rally, defying the strength of the dollar index and Treasury yields.#BAYC #Cryptocurrency Tips #LPT
— Better CallBot (@CallBotCrypto) February 16, 2024

Bitcoin price continues to show strength within an upward channel.

Bitcoin price chart analysis Source: Tradingview.com — BTCUSD Chart Analysis Source: Tradingview.com

Bitcoin price has maintained consistent bullish momentum since October last year, which was further supported by the approval of the spot Bitcoin ETF on January 11th. This led to price trading within the rising channel with the goal of breaking the upper limit. of the channel.

BTC is currently trading within the upper boundary of the channel and bulls are facing resistance at the $53,000 level.

Additionally, BTC is trading above its 50-day and 200-day simple moving averages (SMAs), indicating continued bullish momentum. The 50-day SMA is trending higher than the 200-day SMA, forming a golden cross at $28,159, further supporting the possibility of a bull market in the BTC price.

A relative strength index (RSI) of 80 signals that the price is already overbought, confirming a bullish rally but suggesting a cautious approach for traders.

Moreover, the moving average convergence divergence (MACD) line (blue) is trading above the signal line (orange), which signals investors to take a long position as the price continues its upward trend.

The expansion of the green bar above the zero line also indicates continued positive momentum.

MACD and ADX charts

The Average Directional Index (ADX) is moving north from 33, which could mean a rally is likely as the bullish trend strengthens further.

Bitcoin price prediction

Current Bitcoin price long-term analysis shows that BTC is likely to continue its strong performance as it trades within the upper limit of the rising channel.

RSI has already entered overbought territory, suggesting a possible correction to create more positions on the upside.

In such a scenario, the price could cross the pivot point of $51,140 and return towards $50,000. This level could provide a springboard for the bulls to drive the price through the next resistance at $53,601 and $56,863 and surge towards $60,000.

As the price of Bitcoin rises, analysts say Bitcoin Minetrix is emerging as an attractive way for investors to play in the next BTC bull market.

Bitcoin Minetrix has raised $11 million, close to its $11.8 million goal.

Bitcoin mining has historically been known to require significant investment due to expensive hardware costs. But emergence Bitcoin Minetrix (BTCMTX) Projects are delivered with innovative solutions.

BTCMTX promises to revolutionize Bitcoin cloud mining, reduce costs and increase security through a decentralized mechanism.

contrast #Bitcoin Metrics vs. Traditional cloud mining:
⚖️ Danger: #BTCMTX – User control, easy withdrawals/extensions – No refunds, long-term contracts.
🤝 Simplicity: #BTCMTX – purchase $ETH, $BNB, $USDT / Existing – complex contracts. pic.twitter.com/xcKWnINseh
— Bitcoin Minetrix (@bitcoinminetrix) February 16, 2024

Many investors are attracted to its unique approach to Bitcoin cloud mining, and the BTCMTX pre-sale garnered over $11 million in investments as it raced toward its $11.85 million target.

You can participate in the pre-sale by purchasing BTCMTX tokens, currently priced at $0.0135. Buy now before the price increases within 3 days.

There are now 4 days left until stage 26. #Bitcoin Metrics finish! 📆
What impact does a half-life event have? #Bitcoin mine worker? 💰🛠️ pic.twitter.com/9yPgjvTiW4
— Bitcoin Minetrix (@bitcoinminetrix) February 16, 2024

BTCMTX staking, annual rewards 61%

you can also Stake your BTCMTX tokensThis is your opportunity to passively earn 61% Annual Percentage Yield (APY).

The staking option is activated through the platform’s stake-to-mine mechanism, which provides tradable ERC-20 token credits for each stake you stake. The token credits are then burned, providing BTC cloud mining power.

Simply purchase and stake to automatically secure your spot in ongoing events. $30,000 Mind Drop Competition. Ten people could each receive $3,000.

🎉 #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

According to YouTuber and cryptocurrency analyst Jacob Bury, BTCMTX has the potential to surge 10x upon launch.

To participate in the presale, visit: BTCMTX official website Exchange ETH or USDT to BTCMTX. You can also make direct purchases using your bank card.