The Bitcoin price jumped 10% in the past 24 hours, trading as high as $36,700 and making a new all-time high for 2023 (previously $31,800 hit in July). Ethereum also rallied strongly, with the second-largest crypto by market cap rising to over $1,850.
Since early September, Bitcoin has been trading within an upward sloping price channel, priming it for a bullish breakout. Bitcoin finally burst through the top of this channel yesterday, propelling its price sharply higher.
This double-digit percentage increase for Bitcoin comes amid a confluence of positive developments in the cryptocurrency space that have renewed investor optimism. On Monday, shares of the iShares Spot Bitcoin Trust began trading on the Depository Trust & Clearing Corporation (DTCC) – marking the first Bitcoin investment vehicle to be listed on this key clearing house.
BlackRock ETF Confirmed Or Not? Bitcoin Price Pump To Continue?
While there is now some FUD over BlackRock’s iShares Bitcoin ETF being removed from DTCC’s list, BTC and ETH are still showing strength above $33k and $1750 at the time of writing.
Additionally this week the Securities and Exchange Commission (SEC) approved a rule change that will allow trading of the Grayscale Ethereum Futures Trust ETF. The SEC’s move was the latest sign of growing regulatory acceptance of crypto-based financial products.
Liquidations of Bitcoin shorts worth around $310 million in the last 24-36 hours likely added momentum to Bitcoin’s rally. The cryptocurrency surpassed key resistance levels after gaining traction above $30,000.
JUST IN: $310 million worth of #Bitcoin shorts liquidated in the past 24 hours.
— Watcher.Guru (@WatcherGuru) October 24, 2023
However, the breaking news over the iShares Bitcoin Trust IBTC being gone from DTCC’s list could be a short trigger for bears, with the Bitcoin price at a significant resistance level and unlikely to break it on the first attempt.
Bitcoin Minetrix ICO Raises $2.2 Million Raised – Can This BTC Alternative Provide Better ROI?
As the broader crypto market rallies, one BTC alternative that is also gaining traction is Bitcoin Minetrix (BTCMTX) – a platform that allows users to earn bitcoin through cloud mining. The presale has already raised close to $2.2 million in just a few weeks.
Users can purchase and stake BTCMTX tokens on Bitcoin Minetrix to earn credits over time. These credits can then be used to access bitcoin cloud mining power. This innovative approach effectively addresses concerns around the reliability of cloud mining while also enhancing transparency and security.
The project has built a reputation for reliability, underpinned by its commitment to security and transparency. BTCMTX tokens can be easily purchased and staked within the Bitcoin Minetrix ecosystem through user-friendly, Ethereum-compatible wallets such as MetaMask.
With Bitcoin Minetrix, users enjoy low startup costs, a secure and easy-to-use interface, and a simple onboarding process. To begin receiving bitcoin mining rewards, users only need to buy tokens, choose the buy-and-stake option, and stake their holdings.
As a Stake to Mine project, Bitcoin Minetrix allows anyone to mine Bitcoin without expensive equipment. Thanks to the cloud mining approach, you only need BTCMTX tokens to start mining new BTC. There is also no need for technical knowledge, as Bitcoin Minetrix handles the actual mining process. The project is also eco-efficient, saving the high energy demands of traditional mining systems.
Cloud mining with Bitcoin Minetrix also removes the need for risky third-party services, meaning mining is safe and transparent. There is no need for lots of space to house mining rigs either.
Having achieved the major milestone of raising almost $2.2 million so far, the BTCMTX token is currently priced at $0.111. The total token supply cap is $2.317 million. Investors can purchase tokens using ETH, USDT, BNB or credit cards to acquire BTCMTX – currently in Stage 2 of the ICO presale. Keep in mind that, as per BTCMTX’s website, the price will increase in just 3 days.
The best part about Bitcoin Minetrix is the long-term utility offered. Thanks to the Buy and Stake concept, staking BTCMTX tokens earns passive income with the current APY at 265%. However, opting for Stake to Mine means your coins will be unlocked after presale launch. These coins will then generate mining credits over time, which you can burn to access cloud mining power for earning bitcoin.
Experts also agree Bitcoin Minetrix offers strong profit potential, with predictions of 25x returns on investment after exchange listings. Some analysts forecast the BTCMTX token to grow by over 300% in 2023.
Well-known YouTubers and crypto influencers have been sharing positive reviews about Bitcoin Minetrix, including Conor Kenny (165k YouTube subscribers) and Joe Parys (380k subscribers). The project is also running major advertising campaigns across top crypto news sites like Cryptonews, Coinpedia, CryptoPotato, BeInCrypto, CaptainAltcoin, Cointelegraph, and more.
With its innovative model and growing community interest, Bitcoin Minetrix could be one to watch for traders seeking a higher ROI Bitcoin alternative.