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Bitcoin is backed to hit $50K in the coming months, according to prominent analyst Michael Van de Poppe. Its recent strong performance has provided a catalyst for massive market optimism from both analysts and investors.
Meanwhile, revolutionary mining solution Bitcoin Minetrix ($BTCMTX) has pumped in its presale, raising $2.8 million and drawing analysts to forecast 10x gains once it launches on exchanges.
Bitcoin Price Primed for $50K Before the Halving
In a recent X analysis, Michael Van de Poppe stated that Bitcoin is likely to pump, find resistance at $38K, but then push to $50K before the April 2024 Bitcoin halving.
He believes that Bitcoin will then trade sideways for a prolonged period of time before making a new all-time high (ATH).
The Bitcoin halving is an event hard-wired into the Bitcoin code that occurs every four years and slashes in half the amount of BTC rewards given to miners. This creates a notable discrepancy in supply and demand and has historically led to crypto bull runs.
Van de Poppe also notes that after hitting $45-$50K, there will be a pullback toward the mid-$30K range before another rally towards $50K.
In another tweet, the analyst notes four retests of its current resistance, each displaying diminishing volatility, indicating a growing weakness from sellers.
The tweet notes that the resistance will likely break, and Bitcoin will “take the liquidity above the highs.” Essentially, this means that the analyst expects a lot of short sellers to have stop losses placed in this region, which will be hit when Bitcoin breaks above.
Van de Poppe states it is “very reasonable that we’ll see $36.5-37K.”
However, he also highlighted liquidity below the $33K support. If it breaks the support, then the reverse may happen as the market flips bearish.
Regardless, Michael Van de Poppe’s sentiment is overwhelmingly bullish, recently stating that those who are still around are bear market survivors and that “the coming years will be a blessing.”
Yet, while Bitcoin is backed for a 47% pump to $50k, several prominent traders speculate that Bitcoin Minetrix could see 10x growth (900%) following its exchange launch.
Stake-to-Mine Bitcoin Minetrix Surges Past $2.8 Million With Revolutionary Mining Use Case
With Bitcoin mining playing such a central role in the Bitcoin price, it is no surprise that a new revolutionary solution is gaining unprecedented presale traction.
Bitcoin Minetrix is a Stake-to-Mine platform enabling users to mine Bitcoin by staking $BTCMTX on its Ethereum-based protocol.
The project is running a presale, enabling users to buy $BTCMTX for $0.0113 for a limited time. However, this is set to increase by 10% at each presale milestone, so investors must be fast to catch the best price.
So far, the presale has raised a staggering $2.8 million in one month, illustrating the community’s vast interest.
Bitcoin Minetrix enables anyone to mine Bitcoin with only an Ethereum-compatible wallet like MetaMask. This is in stark contrast to traditional Bitcoin mining, which requires technical expertise, specialist hardware, and significant overhead costs.
Its simple yet valuable use case has led analysts like Jacob Bury to predict 10x gains after its IEO.
Meanwhile, well-known YouTuber Michael Wrubel explained to his 310K subscribers several reasons he is bullish on Bitcoin Minetrix.
Yet, with the presale selling out and its price set to increase in two days, those looking to secure the best price must act quickly.
Visit Bitcoin Minetrix Presale
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