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The Bitcoin price is up 4% over the past seven days and trading $44K from 1:45 a.m. EST.
Anticipation for Bitcoin ETF approvals is increasing after the exchanges filed their updated filings.
The revised 19b-4 submissions were filed on behalf of Black rock, GrayscaleAnd Fidelityamong other things, and suggest that the exchanges are awaiting approval.
Nevertheless, not everyone has embraced the ETF story. Dennis Kelleher, CEO of the nonprofit Better Markets, has urged the U.S. Securities and Exchange Commission (SEC) not to approve a spot Bitcoin exchange-traded fund (ETF) because it contradicts the fundamental principles of the SEC.
In a message to SEC Secretary Vanessa Countryman on January 5, Kelleher said investors will likely face significant risks if the SEC greenlights Bitcoin ETFs. Approving such investment products would be a “historic mistake,” he said.
The fact that @BetterMarketsa special interest associated with @ewarren (who was caught unethically coordinating softball questions to @GaryGensler), significant resources spent putting this letter together (in the 11th hour), makes me think we could get rough. pic.twitter.com/l961Tm5oRx
— Matt Ahlborg (@MattAhlborg) January 5, 2024
Bitcoin Price Prediction: Where Is BTC Going Right Now?
Looking at an in-depth analysis of the 1-hour BTC/USD charts, bulls are facing minor resistance at $44.2K while Bitcoin price is still moving within the range. The Relative Strength Indes indicator is moving north, indicating bullish pressure. The MACD indicator has also maintained movement in the green zone, showing bull dominance.
Should Bitcoin price move out of range to overcome resistance, a price pump is likely to follow amid indications of bull dominance. The 50-period moving average has also crossed the 200-period moving average, confirming the dominance of bulls on Bitcoin.
Bitcoin price volatility levels are currently low, as evidenced by the Bollinger Bands, which are closing in on each other. This can be attributed to declining trading activity, which has caused BTC trading volume to drop by 41% in the last 24 hours.
BTC/USD 1-hour chart | Source: Trading view
Meanwhile, as Bitcoin bulls push for a breakout past the resistance level, Bitcoin Minetrix’s BTCMTX token the presale is selling out quickly and is nearing its goal. The pre-sale raised more than $7.7 million of the targeted $8 million, demonstrating strong investor confidence in the project.
Bitcoin Price Prediction: Does Bitcoin Minetrix Have More Advantages?
Bitcoin Minetrix is an innovative cloud mining solution aimed at overcoming the main obstacles that contribute to the unnecessary costs associated with cloud mining.
The project’s emphasis on decentralization is in line with expanding the passive income opportunity to a broader audience, including newcomers to the complicated world of blockchain technology. This innovative approach has placed Bitcoin Minetrix among the best top presale of 2024.
An important point of attention Bitcoin Minetrix is to make cloud mining more cost-effective for individuals interested in participating. Instead of investing in expensive dedicated hardware, users can start the process by staking BTCMTX tokens.
Discover the benefits of #BTC cloud mining!
???? Entry-level simplicity: no technical know-how required.
???? Cost-efficient: Skip high electricity and hardware costs.
???? Say goodbye to space, sound and heat disturbances.
???? Don’t worry about resale: let mining companies handle the upgrades! pic.twitter.com/enQbatCTpz— Bitcoinminetrix (@bitcoinminetrix) January 6, 2024
Tokenized input
BTCMTX tokens, currently valued at $0.0127, can be obtained using Ether (ETH), Tether (USDT) or a bank card via the project’s website. Once acquired, these tokens are staked and investors receive token rewards.
Investors must burn the gas tokens received to access the project’s cloud mining capabilities. This unique approach ensures that participants are actively involved in the ecosystem while optimizing the distribution of rewards.
Of Analysts anticipate a pump in the Bitcoin price after the adoption of spot Bitcoin ETFs, investors can receive capital gains and also benefit from the opportunity to generate passive income in BTC.
The upcoming halving further adds to the increasing difficulty of acquiring BTC, potentially driving up the price and creating significant rewards for Bitcoin Minetrix investors.
Potential investors are advised to act quickly as the price of BTCMTX is set to rise in less than four days. BTCMTX can easily be purchased directly from the official website for those attracted to its potential benefits. Don’t miss the opportunity to be part of this innovative cloud mining project.
Visit Bitcoin Minetrix here.
Related news
New Crypto Mining Platform – Bitcoin Minetrix
- Controlled by Coinsult
- Decentralized, secure cloud mining
- Earn free Bitcoin every day
- Native token now on pre-sale – BTCMTX
- Staking Rewards – Over 100% APY
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