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Bitcoin has been on a crazy surge for the past few days, jumping from the low $40,000 to over $52K. This marked the highest point for BTC in over 2 years, since December 2021.
Bitcoin has been on the rise since the start of February, recording over 20% gains in that time frame. The main catalyst for this bull run is the flow of institutional funds through the spot Bitcoin ETFs.
However, BTC wasn't the only project that saw a large influx of funding in February – the new mining derivative, Bitcoin Minetrix ($BTCMTX), broke the $10,000,000 milestone in its ongoing presale!
These positive surges made investors wonder whether Bitcoin could break its previous $69,044 ATH in the following weeks.
Let's see what experts had to say…
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Bitcoin's all-time high of $69,044 has been out of reach for a while, especially during 2022's bear market, when it dipped below $17,000.
Yet, the current market trends indicate a possible shift, with Bitcoin potentially surpassing its previous peak soon.
QCP Capital, a renowned crypto asset trading firm, has cast a bullish forecast, predicting that Bitcoin is on the brink of scaling new heights and potentially surpassing its all-time high before the end of March 2024.
A significant factor contributing to this renewed optimism is the excitement around spot Bitcoin ETFs. These are anticipated to inject a fresh influx of institutional and retail investment into the Bitcoin market, thereby propelling its value to unprecedented levels.
However, with Bitcoin's price already quite high, many investors are exploring alternatives like Bitcoin Minetrix, which could deliver bigger returns due to the low prices and similar potential to the original BTC.
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As we said, Minetrix is gathering much attention due to Bitcoin's recent surge past $50,000.
Bitcoin Minetrix offers a new approach to Bitcoin mining through a tokenized cloud mining platform.
This initiative aims to democratize Bitcoin mining, allowing everyday crypto enthusiasts to earn Bitcoin without the complexities and risks associated with traditional third-party mining services.
At the heart of Bitcoin Minetrix's offering is the "Stake-to-Earn" model. By purchasing and staking BTCMTX tokens, users can acquire credits which are then utilized to secure Bitcoin mining power.
This innovative system bypasses the need for external mining companies, presenting a simpler and potentially more secure way to participate in Bitcoin mining.
With the impending Bitcoin halving event, which will further reduce the supply rate and increase mining difficulty, Bitcoin Minetrix is poised to offer a timely solution to those looking to benefit from bullish trends in the crypto market.
The presale's success, with over $10.8 million raised from retail investors to date and the token price currently at $0.0135, underscores the growing interest in alternative ways to engage with Bitcoin's ecosystem.
The development team's plans to list BTCMTX on renowned exchanges are eagerly anticipated by the Bitcoin Minetrix Telegram community, who see these listings as a pivotal moment for the token's value.
Many crypto influencers, like Jacob Crypto Bury and Michael Wrubel, shared with their audiences that if Minetrix succeeds in delivering its promises, it can easily do at least 10X.
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Bitcoin halving is a significant event that has historically acted as a catalyst for bullish market trends, not just for Bitcoin itself but also for its derivatives, Bitcoin Minetrix included.
The core concept here is that the halving event, which reduces the reward for mining new Bitcoin, tends to lead to a perceived scarcity and, consequently, an increase in Bitcoin's value.
The upcoming Bitcoin halving is eagerly anticipated within the cryptocurrency community, many of whom forecast a repeat of past market surges.
The logic behind this expectation is straightforward: as the mining reward diminishes and Bitcoin becomes scarcer, its value is likely to rise.
This increase in value could significantly enhance the attractiveness and profitability of staking BTCMTX for cloud mining.
This makes the upcoming halving not just a milestone for Bitcoin but a pivotal moment for BTCMTX stakers as well.
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Bitcoin's recent surge past $50,000 and its aim for new ATHs highlights a bullish trend in the market.
This surge is fueled by the release of spot Bitcoin ETFs and institutional investments. QPC, a crypto trading firm, is also backing the opinion that BTC will break its ATH in its latest price prediction.
All of this puts Bitcoin Minetrix right in the sweet spot. The halving event, BTC's bull rally, and the backing of influencers all point to a very bright future for Minetrix.
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