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For the last 15 years, the SEC has declined each Bitcoin ETF application from the crypto industry, but in just a few days, this could change.
According to analysts, we could see the confirmation as early as Friday. And if this happens, many are expecting a new bull run for the world's leading cryptocurrency.
However, even with th e confirmation, we can't expect BTC to reach more than $60k – $70k in the near future.
If huge gains – in the 100x range – are what you're looking for, the better option is to look at Bitcoin Minetrix ($BTCMTX), a hot new token that is about to hit $8M in its ongoing presale.
Let's check out the deets.
Over the past few months, several asset management companies have approached the U.S. Securities and Exchange Commission (SEC) with a request to recognize their spot Bitcoin exchange-traded funds (ETFs) as official securities.
Among these companies, names like Vaneck, Valkyrie, and Grayscale Investments stand out.
A key date is Friday, January 12th. This is when we expect the first decision from the SEC about a spot Bitcoin ETF.
Adding to this, the SEC has been actively in talks with big players from major exchanges, diving into the finer details of how spot Bitcoin ETFs might work.
What's stirring excitement is the word from insider sources that the SEC might be close to green-lighting these spot Bitcoin ETFs, possibly as early as this Friday. This could pave the way for these ETFs to start trading maybe as soon as the following week.
This anticipation has played a part in Bitcoin's recent 14% increase in value over the last two weeks.
However, market analysts aren't betting on Bitcoin surpassing $60,000 in the next few weeks despite these events.
For those aiming for higher gains, the spotlight is on emerging presale tokens like Bitcoin Minetrix ($BTCMTX), which seem to have a higher potential for significant value increase soon.
Here's a closer look at why this could be the case.
Bitcoin Minetrix is currently amid its presale, with its tokens available for $0.0126 each.
It's worth noting that time is of the essence for interested investors, as the presale has already garnered $7.9M in a remarkably short period.
Currently, we're in the fifth phase of this presale, and with each stage, the price has risen by 10%. This pricing approach seems to be a key driver for early investments, contributing to the project's early popularity.
Looking at the specifics, Bitcoin Minetrix's token, $BTCMTX, is based on the ERC-20 standard and has a total supply limit of 4 billion tokens.
The distribution of these tokens is carefully structured: 42.5% are allocated for the presale, 35% are set aside for marketing activities, 12.5% are dedicated to staking, and the final 10% are for community-related projects.
A central feature of the $BTCMTX token is its role in staking on the Bitcoin Minetrix platform. This staking is a key part of the platform's Bitcoin mining process. The expectation is that this staking system will create a strong demand for the token while also keeping selling pressures in check, aiming for a balanced market scenario for the token.
One unique aspect of Bitcoin Minetrix is how it handles staking rewards.
Differing from many cryptocurrencies, the rewards for staking in Bitcoin Minetrix are mostly given in the form of mining power rather than in $BTCMTX tokens. This approach adds a distinctive twist to the typical staking reward system.
Bitcoin Minetrix is quickly catching the attention of investors with its innovative "Stake-to-Mine" approach to Bitcoin (BTC) mining.
This project is developed on the Ethereum blockchain and presents a user-friendly method for individuals to earn Bitcoin passively, eliminating the need for technical expertise.
The platform is tailored to make Bitcoin mining more accessible to a broader audience. It does away with the requirements for expensive hardware and specialized skills. By staking their Bitcoin Minetrix (BTCMTX) tokens, users can gain access to cloud computing resources. These resources then mine Bitcoin on the users' behalf, greatly simplifying the entire mining process.
A major benefit of Bitcoin Minetrix is its ability to tackle typical challenges associated with Bitcoin mining, such as its complexity and the high costs of entry.
The token-based system of Bitcoin Minetrix offers a higher level of decentralization and security compared to standard cloud mining services. This strategy reduces the barriers to entry for regular crypto enthusiasts, facilitating an easier pathway into Bitcoin mining.
When users stake their tokens, they not only receive "mining credits" for cloud mining power but also enjoy two streams of income: potential staking rewards of up to 87% annually and a share of the mining profits.
This dual-revenue model is a significant draw for those interested in both mining and staking in the cryptocurrency space.
The anticipated approval of Bitcoin Spot ETFs may arrive sooner than expected, potentially triggering further surges in the market.
However, if you're aiming for dramatic growth, turning your attention to presale tokens like Bitcoin Minetrix is a better move.
This token holds the promise of potentially soaring 50x – 100x. Currently, in its final presale stage, this is a prime opportunity for early investors to get involved and potentially see significant profits in the coming weeks, starting the new year on a high note.
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
