Bitcoin (BTC) started the year 2024 by printing a new green candle. This causes many people to go home with big profits.
On January 2 , BTC prices reached a high of $45,000, a level not tested since April 2022. Many believe this rise is due to the initial approval of spot exchange-traded funds (ETFs).
Unfortunately, this moon spike did not last long as more and more people used it, which affected prices. According to CoinMarketCap, BTC has fallen more than 8% in the last 24 hours.
At 6:20 am EST, the price was around $42,000, which would be a loss of about $3,000 for the day.
This puts other digital assets to shame; This loss of value affected the market as a whole , which registered a drop of more than 3% . However, several other factors suggest that Bitcoin's rally could resume soon.
MicroStrategy President Michael Saylor is launching a $216 million move to boost bitcoin holdings.
MicroStartegy boss Michael Saylor sold shares of his company worth $216 million. Notably, one of the reasons for the sale was to buy more BTC. It began on January 2 with the sale of 5,000 shares of the 315,000 it purchased in 2014. These promotions expire in April 2024.
In addition, the CEO plans to sell 5,000 shares daily for four months . Furthermore, he said:
Using this option allows me to fulfill my personal obligations and earn additional bitcoins in my personal account.
If Saylor used all the money from the stock sale to buy bitcoin, that could have a significant impact on the price. When more people buy bitcoins, the price usually rises. So if you invest a lot of money in bitcoins, the price is likely to go up.
It's important to know that, according to filings with the Securities and Exchange Commission on November 1, Saylor can sell a total of 400,000 shares. This is the period from January 2 to April 26, 2024.
Bitcoin Price Analysis: Signs Oscillate Between Bullish Optimism and Bearish Pressure
Bitcoin price has fallen below the uptrend line this morning, indicating that the recent bullish optimism has collapsed. A break of this key support often indicates a new decline in the future.
However, Bitcoin is currently showing signs of recovering from the broken trendline, indicating that bulls are actively buying dips and trying to maintain the previous uptrend.
Bitcoin is also located in the middle of the Bollinger Bands. Another close above the average line today will strengthen the possibility of a short-term upside. However, the strong red bars on the MACD histogram suggest that the bearish momentum is accelerating today.
This bearish divergence means that downside risks remain elevated.
It is important to note that if the selling pressure continues, key support areas lie around $40,200 and $35,000. Buyers want to avoid closing below this range. Otherwise, there could be a retest of the 2022 lows around $30,000 as buyer sentiment softens. In essence, Bitcoin is currently showing mixed signals.
Staying above key support and resuming bullish momentum indicates that the bullish move continues. However , failure to recover the broken trend line and hold support risks a bearish breakout as negative sentiment is widespread in the cryptocurrency market.
If Bitcoin consolidates well above $40,000, its technical position will strengthen again and it will retest the upper resistance zone ($45,000). However, since the indicators warn, traders and investors are advised to manage their risk appropriately. The next few days will be very important for Bitcoin.
Investors should consider this new Bitcoin mining project from Minetrix as a possible alternative to Bitcoin
In the world of cryptocurrencies, diversification is a top priority for many investors. This is because they want to make more profits and reduce risks .
This new mining project called Bitcoin Minetrix can be a potential investment for investors who want to enrich their wallet with 10x profits.
Bitcoin Minetrix has attracted a lot of attention from investors, but the main question is: is it different from previous projects?
Bitcoin Minetrix makes profit on pre-sales
>>>Visit the Minetrix Bitcoin Presale
New Bitcoin crypto project Minetrix has raised over $7.3 million in pre-sales, quickly approaching its $7.9 million goal. One BTCMTX is currently worth 1.26 cents. As demand increases, opportunities to join are rapidly shrinking.
According to information on the website , the pre-sale is expected to take place in the coming days . Analysts believe that the value of BTCMTX may increase after its activation on major exchanges.
What makes it special is that it offers a decentralized cloud mining solution.
This gives cryptocurrency users an easy way to earn Bitcoin mining rewards without expensive equipment and without the risk of fraud. It works by staking BTCMTX tokens and accepting coins in exchange for transparent cloud mining. The goal of this model is to make safe mining accessible to everyone.
BTCMTX Price Could Soar After Listing
Given the popularity and convenience of Bitcoin Minetrix, BTCMTX may skyrocket once everyone can start trading with it. The pre-sale financing of $7.3 million demonstrates that investor demand is already there.
By addressing the challenges of cloud mining, Bitcoin Minetrix appears to be positioning itself as an exciting new crypto project. The staking model allows everyone to share in the benefits of Bitcoin mining.
These innovations quickly attract the attention of investors. Therefore, the opportunity to buy BTCMTX early may pay off in the future.