NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The Bitcoin price breakout at $35,000 could start a bull run that takes the price to $1 million, and cloud mining upstart Bitcoin Minetrix is set to be a major beneficiary after amassing $2.19 million from alpha-seeking crypto investors.
Even before the latest court moves, which saw the US Court of Appeals DC Circuit issue a mandate instructing the Securities and Exchange Commission (SEC) to review its decision to refuse the conversion of the Grayscale Bitcoin Trust into an exchange-traded fund (ETF), bullish forecasts were coming thick and fast.
The last time the Bitcoin price traded above $35k was on May 7, 2022, 17 months ago.
The road ahead has opened up for the highly-anticipated Bitcoin halving bull run, helped in no small part by the positive news flow on the chances of a spot Bitcoin ETF being approved.
Although there is a binary risk in the current market setup because much hangs on whether the SEC does or does not approve a spot Bitcoin ETF, the probability of a rejection is narrowing markedly.
Analysts at Bloomberg Intelligence reckon there is a 90% chance of the ARK and 21Shares spot Bitcoin ETF application being approved. They come to this conclusion due to the "constructive conversation" they see in the latest update to the filing, which the analysts say only happens when an approval is in the works.
A decision on the ARK 21Shares application is expected as soon as January 10. Add to that the judge yesterday formally instructing the SEC to revisit the Grayscale application, and it would be almost scandalous for Gary Gensler's SEC not to move forward with approvals.
In the latest development, the iShares Bitcoin Trust (the BlackRock spot Bitcoin ETF product, ticker IBTC) has just been listed on the Depository Trust & Clearing Corporation site, which is a very strong indication that an ETF has, or is about to be, approved.
In all, there are a dozen spot Bitcoin ETFs awaiting approval.
https://twitter.com/watcherguru/status/1716590419432104094
Bitcoin price could 2x from here but $BTCMTX has a much better risk-reward profile
One expert predicts a price of $135,000 soon, while another forecasts a top around $750,000. Meanwhile, tokenized cloud-mining crypto Bitcoin Minetrix raises $2.1 million and could be an even better return on investment.
Currently priced in the fractions of a penny, the risk-reward profile of Bitcoin Minetrix trumps Bitcoin. A move higher from today's price of 100% would see Bitcoin hit a new all-time high (ATH) in the $70,000s.
For now, bulls are eyeing a break into the $46k to $52k region, which would signal that a new ATH is on the cards for Bitcoin.
That's impressive but not as big a return opportunity as buying a penny altcoin like $BTCMTX, which could increase by thousands of percent because of the mining revolution it brings to the Bitcoin ecosystem and as a cheaper way to gain exposure to the Bitcoin growth story.
And what is good news for Bitcoin is invariably also good news for its many imitator clones and derivative coins. Bitcoin Minetrix is one such, but with the difference that it genuinely adds to the world of possibilities that the Bitcoin ecosystem offers.
Get exposure to the Bitcoin story with a penny coin that could explode and earn you yield too
Instead of merely being a forked clone or meme coin playing at being Bitcoin, Bitcoin Minetrix threatens to upend the way Bitcoin is mined, and that's a hugely significant mission statement.
Priced at $0.0112, $BTCMTX has just entered Stage 3 of its presale and the price is set to rise in four days, or possibly sooner, to $0.0113.
Early contributors can avail themselves of the lowest prices the coin is ever likely to be priced at, as the Bitcoin bull run appears set to send its valuation into orbit.
Stage 4 begins when the raise total reaches $3,101,000, so there's no time to lose to jump on board.
Plus, early investors are able to earn yield by staking their newly purchased tokens for the duration of the presale. The annual percentage yield (APY) is currently an enticing 268%.
https://x.com/bitcoinminetrix/status/1716369225453867507
Bitcoin Minetrix is starting a Bitcoin mining revolution, and the timing couldn't be better
Bitcoin mining is crucial to the existence of Bitcoin because it not only verifies transactions, it also brings newly minted BTC into being.
Bitcoin Minetrix's use case proposition centers on using the Ethereum blockchain to tokenize mining credits, which are earned by $BTCMTX token holders in proportion to the number of staked coins they have locked up in the stake-to-mine smart contract.
This approach has a number of advantages over existing mining operations, and the current cloud mining outfits too.
Cloud mining involves utilizing the services of cloud computing vendors to do the computational-intensive and power-hungry brute-force Bitcoin mining. With cloud mining, you are effectively outsourcing the hardware and software factors of production.
The immediate benefit of this is that a Bitcoin Minetrix cloud miner just pays for their computing power allocation and does not have to concern themselves with the costs and risks of investment, as that is all born by the cloud miner.
By exploiting the management efficiency and power of smart contracts, there is no need to be locked into a fixed term. With Bitcoin Minetrix, the staker is in full control, allowing each individual to vary the period they wish to mine for.
https://x.com/bitcoinminetrix/status/1716001485610184938
Bitcoin mining tokenized on the Ethereum blockchain is a gamechanger
However, Bitcoin Minetrix adds a crucial step in the process by introducing tokenization, so that the entire chain of activities, from staking to the cloud mining credits used to make a claim on the block rewards revenue stream, is decentralized and controlled on-chain.
It means no cash is involved, and that has the enviable consequence of squeezing out the scammers. Fraudsters who promise high yields in return for an upfront payment, more often than not run off with the money and fail to deliver on the hash power (computing power) required for mining.
In a nutshell, then, Bitcoin Minetrix captures the benefits of cloud mining while overcoming its weaknesses. The resulting ecosystem promises to be the most friction-free route into mining for retail investors, not to mention corporate entities that may want to diversify their income streams.
Although the Bitcoin halving event in April 2024 will see the block rewards paid to miners decrease from 6.25 BTC to 3.125 BTC, going by past performance the increase in the value of Bitcoin will more than outweigh the impact on mining revenues.
A falling rate of Bitcoin inflation creates price-positive pressure on the supply side. Also, the falling inflation rate comes against a backdrop of a steadily rising number of lost or 'hodled' (held for the long term) coins.
Using data supplied by Glassnode based on a metric developed by Adamant Capital that subtracts 'Liveliness' from 1 and then multiplies the product by the circulating supply, lost and hodled coins can be calculated at 7.94 million BTC.
However, as the price of Bitcoin rises, the rate of hodling tends to rise in tandem. This is because those who were initially looking to hold for a shorter period tend to hang onto their coins in expectation of being able to sell at a higher price in the future.
We should also include in our bullish analysis the growing institutional interest in Bitcoin combined with the impact of a future approval of a Bitcoin ETF. Both of those developments will add to positive price pressure on the demand side.
Lastly, as the price starts to rise, it will attract more coverage in the financial and mainstream media, creating a feedback loop that will encourage and foster general interest and trading volume.
Bitcoin Minetrix is perfectly positioned to catch the upturn not only in a general sense but also at the level of Bitcoin protocol fundamentals, namely mining.
Certainly, a spot Bitcoin ETF is a cheap and easy way to gain exposure to the Bitcoin price and capital growth. But, being able to also lock in a claim to Bitcoin mining revenues provides a passive income stream that capital-focused investors miss out on.
Bitcoin Price to hit $135,000 and then $1 million – Bitcoin Minetrix could skyrocket 2,000x-plus
It would be remiss to leave out the macro element of the price prediction for Bitcoin and Bitcoin Minetrix.
Robert Kiyosaki, the author of Rich Dad Poor Dad, who has turned his financial bible into a financial advice super brand, postulates that Bitcoin could reach $135,000 after testing the $30,000 level.
He is not alone in his hyper-bullish predictions. Arthur Hayes, the co-founder of Bitmex exchange, is an uber bull who has Bitcoin reaching $750,000 or $1 million in the next bull run, a bull run which he thinks we are now on the cusp of.
The BIGGEST Bitcoin Bull Run In History Is IMMINENT! | Arthur Hayes
For both Kiyosaki and Hayes, money-printing, a weakening dollar, persistent and rising inflation, a looming bond market crash, and an attendant economic crisis will all combine to a lesser or greater extent to dramatically increase demand for a shrinking pool of available Bitcoin supply.
All of the above means that Bitcoin Minetrix could be looking at gains way above 2,000x. For the $BTCMTX price, the sky's the limit.
Buy $BTCMTX now and you can earn 268% APY
Buy $BTCMTX in presale today and you can start staking right now and earn 268% APY. 155 million $BTCMTX is currently being staked out of a total supply of 4 billion.
$BTCMTX is emitted at a rate of 158.5 per ETH block produced and each staker receives an amount in proportion to their share of the staking pool.
According to the tokenomics information, 7.5% of the total supply is allocated to paying staking rewards. A further 15% is allocated to community rewards, 35% to marketing and 42.5% for the Bitcoin mining operations.
Here's how to beat the crowd and get involved in $BTCMTX today
To buy the $BTCMTX token you can use ETH, USDT, BNB, MATIC or a bank card. If you plan to purchase with ETH you can start staking-to-earn straightaway.
All you need to do is connect your wallet, determine how much you wish to invest and make sure you have a small amount in excess of that to cover transaction fees (approximately $10-20), if using the Ethereum blockchain.
As Bitcoin prepares for its biggest bull run ever, the best way to gain exposure is probably to buy into a double-edged sword like Bitcoin Minetrix.
$BTCMTX combines exposure to the price upside of Bitcoin but also to the mining income at the center of a digital asset that could one day challenge the US dollar by becoming one of the major reserve currencies of the world.
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