The post Will Bitcoin Hit $40K This December? BTC Price Analysis Plus Two Other Tokens to Watch appeared first on Coinpedia Fintech News
Bitcoin has just reached its highest price since May 2022, breaking the $38.5K resistance with its current price at $38.8K. Will it pump to $40K or return to its previous trading zone?
Meanwhile, two trend-savvy Bitcoin-related cryptos, Bitcoin ETF Token and Bitcoin Minetrix, are also surging ahead in their respective presales.
Bitcoin Looks Strong After Bullish Daily Close
Throughout November, Bitcoin struggled at the $38K-$38.5K resistance, rejecting it multiple times. However, a recent rally has caused the price to break above, with a daily candle closing at $38.7K.
The daily close tells us buyers were still in control at this level, indicating strong bullish momentum.
The current daily candle is also strong, displaying no rejection and pushing higher.
Meanwhile, trading volume has begun to pick up following the breakout. This is a sign that interest is brewing as the market anticipates a move higher.
With this in mind, Bitcoin stands a strong chance of continuing to pump toward $40K, which is a psychologically important level where there will likely be much interest and trading activity.
Based on the Fibonacci Retracement tool, Bitcoin is currently in a buy zone, where a macro trend reversal confirmation has occurred, but it still holds significant upside potential.
According to the tool, Bitcoin’s next target will be around $42.4K should it continue to uptrend.
Moving to market sentiment, the community is massively excited about the close above $38K due to the tireless resistance it provided.
The Bitcoin Fear and Greed Index has jumped three points from 69 to 72, showing investors are significantly more confident following the bullish candle.
Meanwhile, analysts and influencers have weighed in on the situation, too. Mister Crypto noted, “It’s game over for all $BTC bears,” in response to the breakout. The tweet was posted 21 hours ago and received over 450 likes so far.
However, analyst Gert van Lagen recently highlighted an alternative chart idea, which is also highly bullish. Gert pointed out a 6-hour candlestick close above a rising channel, suggesting this would create a breakout to the upside.
While not without risk, Bitcoin’s price chart and market sentiment are overarchingly bullish, indicating a move to $40K is likely in the coming days.
With this in mind, investors may consider new Bitcoin-related tokens that could pump alongside the world’s leading crypto. However, these newer projects could offer more upside potential due to their significantly lower market caps.
Trending Bitcoin ETF Token Raises $2.2M and Offers 112% Staking APY
Bitcoin ETF Token is an emerging cryptocurrency that rewards holders as the Bitcoin ETFs advance. This creates many benefits, with ETF-related hype driving up the price, while the $BTCTETF’s tokenomics also make the token more valuable.
The team has allocated 25% of tokens to be burned in line with five key Bitcoin ETF milestones, with the first one being when Bitcoin ETFs generate $100 million in trading volume. 5% of tokens will be destroyed at this time, and this will also occur at four more proceeding milestones.
Moreover, it features a 5% burn tax on transactions, which will reduce by 1% at each milestone. This aims to incentivize long-term holding and ensure a high-potential initial exchange offering (IEO).
Bitcoin ETF Token holders can also compound their investment by staking their tokens. Currently, staking offers a 112% annual percentage yield (APY), but this will decrease as the staking pool grows, so investors must act fast.
The last major pillar of the project is Bitcoin ETF alerts, updating the community with the latest Bitcoin news on its website. This feature aims to foster an active and engaged community while providing viral potential as readers can share the news via social media.
Investors can buy Bitcoin ETF Token for $0.006 but must hurry as its presale price increases shortly.
Revolutionary Stake-to-Mine Bitcoin Minetrix Raises $4.6M at Presale
Bitcoin Minetrix is another compelling new presale project that enables users to cloud mine Bitcoin effortlessly. It requires no hardware, technical expertise, or overhead costs, making it ideal for beginners and those who want to earn free Bitcoin worry-free.
It works by users staking $BTCMTX tokens for Bitcoin mining credits, which they can then burn for cloud mining power. This mining power can then earn them free Bitcoin.
As well as unprecedented Bitcoin mining convenience, this project also tackles security concerns that plagued earlier cloud mining protocols. It does this through its decentralized and transparent $BTCMTX token, which has also received a flawless smart contract audit.
All users need to get started is an Ethereum-compatible wallet, like MetaMask. This undoubtedly presents Bitcoin mining to a broader audience, moving it toward mass adoption.
The good news for Bitcoin Minetrix investors is that the $BTCMTX token plays a crucial role in the operation, with users needing to buy it for staking. This provides a significant demand stream.
Meanwhile, sell pressure will be severely limited because many tokens will be locked for staking. This creates favourable supply and demand dynamics, which could see it explode after its IEO.
The Bitcoin Minetrix presale has raised $4.6 million and is priced at $0.0119. However, the price will rise throughout the presale, so investors should act fast.
#PressRelease [Source: Coinpedia]