Despite optimistic price predictions, Bitcoin (BTC) still struggles to stay north of $27,000. For several months, the $27,000 resistance level has been an insurmountable obstacle for BTC. Some experts even claim that if the situation persists, it is possible that the price will retreat to the $25,000 level, forming a new resistance level. In the meantime, a new alternative raised more than $1.5 million in presale. Bitcoin Minetrix (BTCMTX) is a modern take on the venerable BTC, offering features that the aging Bitcoin blockchain doesn’t support.
>>> Buy Bitcoin Minetrix Now<<<
Bitcoin’s Struggles to Surpass $27,000
Recent rumors claiming that Bitcoin whales have accumulated a massive number of BTC tokens have spurred hopes that the world’s oldest crypto may be close to a breakthrough. The current bearish market has made it possible for whales and sharks to hoard more than 13 million BTC, anticipating a significant price increase, according to Santiment’s analyses. Santiment defines Bitcoin whales as all wallets holding between 10 and 10,000 BTC.
This represents the largest accumulation of BTC this year. Experts believe that the new-found optimism is based on a huge number of requests made to the U.S. Securities and Exchange Commission (SEC) for the approval of a Bitcoin Spot ETF. The SEC, however, still hasn’t made a decision, postponing it several times.
However, some other news has emerged this week that may dampen those plans. Particularly troubling is the report claiming that Bitcoin miners have dumped more than 2,000 tokens, which led to BTC price dipping below $27,000. In total, some $15.28 million worth of Bitcoin was liquidated in a 24-hour span on Wednesday.
The contradicting reports have made investors wary of Bitcoin’s prospects and forced them to look for alternatives. One of the most promising is Bitcoin Minetrix, an Ethereum-based token. BTCMTX has already raised more than $1.5 million in presale and is closing in on its hard cap goal. Investors looking to profit from BTCMTX’s price explosion are left with little time to get in on the ground floor of this incredible project.
>>> Buy Bitcoin Minetrix Now<<<
Bitcoin Minetrix Surpasses $1.5 Million In Presale
Bitcoin Minetrix is a tokenized cloud mining platform that offers an alternative to Bitcoin. Currently in presale, BTXMTX has raised more than $1.5 million so far and is rapidly approaching its hard cap goal. We are witnessing one of the most successful ICOs of the year and at this rate, the BTCMTX presale will end way ahead of schedule as all allocated tokens are sold out.
Investors are betting that BTCMTX will explode as soon as it finds its way onto crypto exchanges once the presale ends. Judging by the initial attention the project is getting, that seems like a fairly safe bet. Some experts go as far as to claim that 50x gains are not out of the question. The only issue is whether there is enough time left for all interested buyers to get on the bandwagon before BTCMTX goes for its moonshot.
>>> Buy Bitcoin Minetrix Now<<<
Powerful Staking Option Drives BTCMTX’s Price
One of the clear advantages Bitcoin Minetrix has over BTC is the staking option. Built on the Ethereum chain, BTCMTX comes with a staking feature that the aging Bitcoin blockchain lacks. Staking offers a convenient way for holders to put their tokens to work and create a passive income stream without selling them. This is the best way to keep hold of your crypto assets and still make some money.
On the other hand, staking regulates the token’s supply, incentivizing holders to hold on to their tokens as long as possible and helps prevent market flooding. With a sizeable percentage of tokens held in staking, there will be a limited supply on the market, driving the price upwards and creating perfect conditions for BTCMTX’s price explosion.
>>> Buy Bitcoin Minetrix Now<<<
Bitcoin Minetrix Offers Eco-Friendly Crypto Mining
Staking in Bitcoin Minetrix is done via a mechanism dubbed Stake2Mine. Staking will earn you non-tradeable ERC-20 tokens, which you can exchange for Bitcoin mining power. The more of these tokens you burn the more BTC you will get.
Not only this is a vastly more efficient system than traditional Bitcoin mining, but it also saves a huge amount of electricity. The energy saving alone would be enough to motivate people to use Stake2Mine, but that is not the only benefit this system provides. Since mining is done on the cloud, you don’t have to spend thousands of dollars on expensive mining rigs, vastly decreasing both your costs and carbon footprint.
Staking BTCMTX earns users tokens that can be exchanged for mining credits. Mining credits come in the form of non-transferable ERC-20 tokens. Once you have enough, you can burn them and receive the equivalent Bitcoin amount. The process is fully transparent and users know what is happening with their stakes at any time.
>>> Buy Bitcoin Minetrix Now<<<
Bitcoin Minetrix Removes Risks from Bitcoin Mining
Bitcoin mining has been a source of a lot of nefarious actions against the end users. Big companies that engage in it have been often accused of cheating their clients by withdrawing payments or requesting additional funds to let them access their accounts. In turn, this has greatly reduced the trust people had in cloud mining and damaged the reputation of the concept.
The approach employed by Bitcoin Minetrix eliminates all and every possibility of such behavior, allowing for full transparency. Tokenization of the process allowed a much-improved user experience and will help restore the lost trust. BTCMTX tokens can be withdrawn at any time, plus they eliminate the need for users to send cash payments to Bitcoin mining companies.
>>> Buy Bitcoin Minetrix Now<<<
Conclusion
Bitcoin seems unable to break through the resistance level at $27,000, with some experts even claiming that it may even slide down to $25,000. In the meantime, a new alternative token has raised more than $1.5 million in presale and is attracting more and more investors.
The post Bitcoin’s Struggles to Surpass $27,000 as New Alternative Raises More Than $1.5 Million appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/bitcoins-struggles-to-surpass-27000-as-new-alternative-raises-more-than-1-5-million/