Bitcoin (BTC) has been under the spotlight ever since it appeared, and its price doesn’t seize to surprise. Since July this year, when BTC reached $31k, it dropped and maintained a more less stable price, going around $27k. On the other hand, Bitcoin derivates are achieving enormous success. Bitcoin Minetrix (BTCMTX) is approaching the $900k milestone fast, making huge waves on the crypto market. Now, the investors are wondering if BTC will again reach $30k or if it is better to focus on BTCMTX. Let’s analyze them both more deeply!
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Enjoy the Perks of Cloud Mining with Bitcoin Minetrix
According to the Digiconomist’s Bitcoin Energy Consumption Index, the energy used for mining Bitcoin is approximately the same as that used in Argentina for one year. It devours approximately 127 terawatt-hours (TWh) annually, surpassing the energy consumption of several nations, including Norway. Within the United States, cryptocurrency operations are anticipated to release between 25 and 50 million tons of CO2 into the atmosphere each year, a figure on par with the annual carbon emissions stemming from US railroads’ use of diesel fuel.
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As the Bitcoin craze rapidly gained momentum, mining became exponentially more complex. Not only does it impact energy consumption and pollution, but with the increased interest in mining, buying more powerful equipment inevitably increases expenses.
Cloud mining was embraced as a welcomed innovation, akin to leasing a slice of the mining action from centralized giants. This approach spared individuals the hassle of investing in their own mining hardware while offering accessibility and the prospect of steady returns. Bitcoin Minetrix is a pioneering player in the cryptocurrency mining landscape. This revolutionary platform opens the door for anyone to engage in Bitcoin mining while supporting decentralization and transparency.
What distinguishes Bitcoin Minetrix is its distinctive approach to cloud mining. Through tokenization, they’ve devised a secure and user-friendly system, even catering to newcomers to the crypto sphere. By boldly addressing a major concern, Bitcoin Minetrix has eradicated the risks associated with third-party cloud mining scams.
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Reasons to Choose BTCMTX Over BTC Unveiled
Besides Bitcoin’s undeniable importance among crypto investors, it is necessary to take a realistic look at Bitcoin’s price. Even $27k is not something that a beginner can afford, let alone $30k. Even if a price increase happens, investing that kind of money into the highly volatile market is something that is very hard and complex.
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On the other hand, Bitcoin Minetrix is affordable, and since its price will gradually increase, early investors will get the highest value for their money. Besides, while Bitcoin’s energy consumption is enormous, Bitcoin Minetrix gives everyday users the opportunity to dive into crypto mining without worrying about expensive equipment.
Locking the BTCMTX token within an Ethereum-powered smart contract becomes your gateway to Bitcoin cloud mining. Through a straightforward process of purchasing and staking BTCMTX tokens, users gain access to cloud mining credits that can be traded for hashing power. This decentralized approach ensures the security of your assets on the platform, providing a transparent and safeguarded mining experience.
Investors will receive mining credits in the form of non-transferable ERC-20 tokens. These secondary tokens play a vital role as they are consumed to access specific BTC cloud mining periods or a portion of mining returns. By maintaining these mining credits as non-tradeable, the integrity of the tokens is preserved.
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Is $30k Bitcoin Price Rally Possible in the Near Future?
Long-term analysis of Bitcoin indicates a persistent bullish trend with the potential to trigger a bull run. However, short-term price fluctuations may take longer than anticipated due to the strong grip of bearish sentiment on the rally.
The BTC price is currently hovering around $27,600, having slightly retraced from $27,700. This recent price action follows a 23.6% retracement after a notable climb from $24,900 to $28,613. The market has been characterized by volatile fluctuations, with both bullish and bearish forces vying for control. Additionally, a prevailing positive sentiment could propel the price above $28,500, aiming to surpass higher resistance levels beyond $29,000.
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However, the most likely scenario suggests a gradual ascent towards the eagerly awaited $30,000 mark, contingent upon breaking the major resistance at $28,500. Nevertheless, surpassing these levels might prove challenging, as the RSI (Relative Strength Index) appears to be signaling a potential bearish reversal once it reaches overbought levels. In case of increased selling pressure and panic selling, even lower support levels could come into play.
Currently, there’s a clash between bullish and bearish sentiments as Bitcoin awaits fresh technical guidance, especially after its recent struggle to breach the $28,000 barrier. This means that it can be very challenging for BTC to cross that $30k mark. Focusing on cryptos on presale can be the best choice when having such frequent fluctuations. With the success that Bitcoin Minetrix is currently enjoying and the expected success it is bound to achieve, investing in it now can bring the best results!
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Conclusion
To sum up, investing in cryptocurrencies during their presale stages often yields the most favorable outcomes. The success of Bitcoin Minetrix is evident. Between a choice of worrying whether Bitcoin will rise again and making concrete steps towards a more prosperous financial future by securing the portion of BTCMTX, the latter surely takes the win. So, hurry up and get your tokens in time so you can fully enjoy the benefits they bring!
The post Market Downturn, Bitcoin Holds Steady at 27k: Could a $30k Rally Be in the Cards? appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/market-downturn-bitcoin-holds-steady-at-27k-could-a-30k-rally-be-in-the-cards/