2024-01-21 18:05:51
As expected, the crypto market was quiet over the weekend, with Bitcoin trading just below the $42,000 mark and Ethereum just below $2,500. After a week and a half in which Bitcoin ETFs have now been approved in the USA and hopes for Ethereum ETFs have flared up, the market appears to be stabilizing. The next upward movement might be imminent. Every new week brings the Bitcoin Halving closer, which has always had a positive impact on the entire crypto market in the past, and there will also be a decision regarding exchange-traded funds for Ethereum in just a few months. The Ethereum price might soon rise to $3,500.
Bullish environment
Of course, it is unlikely that Ethereum will rise to $3,500 while Bitcoin and the rest of the market continue to correct. However, Grayscale has already sold over 60,000 Bitcoin and even if the company still holds more than 500,000 Bitcoin with its ETF, it is unlikely that they will all be sold off, which is why an end is already in sight.
Of course, Grayscale is not solely responsible for the Bitcoin price decline in recent days, which has also impacted Ethereum and the rest of the market. Numerous investors who did not invest in BTC through a fund also took profits following the rally of the last few months. A correction that was urgently needed and that might already be completed in the $40,000 area.
Despite the decline in recent days, Bitcoin ETFs have already brought in more trading volume in the first few days than anyone might have ever imagined. In the long term, the exchange-traded funds are likely to have a positive effect on the price and the rumors that Ethereum funds will soon be approved in the USA are also likely to drive the ETH price. A rising Bitcoin price, together with good news regarding Ethereum, are the best conditions to drive the ETH price higher. Stronger resistance would only appear on the chart once more in the area around $3,500.
In addition to waiting for the Bitcoin Halving and Ethereum ETFs, the planned upgrades to the blockchain itself are also likely to have a positive impact on the price. The developers are never tired of keeping the aging network competitive and so there will be an upgrade this year that will significantly reduce transaction costs and increase scalability.
All in all, the circumstances seem to be right so that the Ether price might soon rise to $3,500. The majority of experts are already expecting a new all-time high for Bitcoin this year, which might also mean a new ATH for Ethereum by the end of the year, so it wouldn’t be a big surprise if the price rose by 100% to $5,000 this year. Investors might achieve even significantly higher returns with the stake to mine coin Bitcoin Minetrix ($BTCMTX), which is currently attracting the attention of analysts.
Find out more regarding Bitcoin Minetrix now.
Will Bitcoin Minetrix outperform Ethereum?
Even if Ethereum doubles its price this year and generates a return of 100%, there are of course numerous altcoins that perform significantly better. New projects in particular that have a strong use case can be one of the big winners in the next bull run. Bitcoin Minetrix ($BTCMTX) is currently in the focus of the crypto community due to its unique stake to mine concept.
Photo: finixio.com
(Stake to Mine Dashboard – Quelle: Bitcoin Minetrix)
Investors who own $BTCMTX tokens and contribute them to the staking pool will receive a return in the form of additional tokens in the first step, while following the pre-sale has ended, the Stake to Mine phase begins, in which stakers enter Receive credit as a reward that can be used for Bitcoin cloud mining. This makes it unnecessary to invest in the hardware required to mine new Bitcoin, as the hash power in cloud mining is provided by a cloud provider.
Visit Bitcoin Minetrix website now.
While with cloud mining you might only hope that the provider would actually pay out the mined Bitcoin at the end, which was often not the case, Bitcoin Minetrix solves this problem. The team behind the project is already negotiating with various providers and in the future the community will be able to manage their token holdings and mining balance in the Stake to Mine dashboard without having to transfer additional money to a third party. The more $BTCMTX tokens you hold in the staking pool, the more credits you receive for Bitcoin cloud mining.
Photo: finixio.com
(Bitcoin Minetrix Statement – Source: Bitcoin Minetrix)
The concept not only convinces analysts, who have already set price targets for the $BTCMTX token that are well over 10 times the current presale price, but also investors. $BTCMTX already sold more than $9 million in the presale, which quickly makes it clear what potential lies dormant here following the listing on the crypto exchanges. The $BTCMTX price is raised several times during the pre-sale, which means a book profit for early buyers, which can be significantly higher and realized following the start of trading on the crypto exchanges.
Get in now and buy $BTCMTX in the presale.
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