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The cryptocurrency market experienced a rollercoaster ride on Monday after a false report claimed the SEC had approved a spot Bitcoin ETF by BlackRock. Though the rumor was quickly refuted, it highlighted the massive impact an actual ETF approval would have on Bitcoin's price.
Investors and traders have their eyes set on the potential approval of a Bitcoin spot ETF, which many experts believe could happen within the next 60-90 days. While an ETF would likely spark short-term gains, projects like <a href="https://thebittimes.com/new-crypto-staking-platform-bitcoin-minetrix-launches-token-ico-raises-100-000-day-one-tbt64224.html" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a> that offer tangible utility will be key for long-term growth.
Bitcoin Minetrix provides accessible and decentralized cloud mining through its tokenized staking model. As the first project of its kind, it allows users to benefit from Bitcoin mining without expensive hardware or risks associated with third-party operators.
With its innovative staking and mining system, Bitcoin Minetrix carves a niche for itself in the crowded cloud mining space. As we explore the prospects of a Bitcoin ETF approval, the real-world value offered by Bitcoin Minetrix serves as an example of the sustainable solutions needed to drive mainstream adoption.
<h2 id="strong-when-will-a-blackrock-etf-be-approved-strong">When Will A BlackRock ETF Be Approved?</h2>
On Monday, Bitcoin suddenly rallied from $27,900 to over $30,000 within minutes after a fake report claimed the SEC had approved a spot BTC ETF by BlackRock. The asset manager soon clarified that the news was false, causing Bitcoin to retrace some gains. However, it still managed to hold onto much of the spike, trading around $28,000.
This incident underscored the market's sensitivity to ETF news. Many believe that an actual approval would catalyze even more substantial gains for Bitcoin in the short term.
<a href="https://x.com/rovercrc/status/1714166884226969647?s=20" target="_blank" rel="noopener noreferrer nofollow">According</a> to crypto analyst Crypto Rover, the real timeline for a spot Bitcoin ETF approval is 60-90 days, with January 10, 2024 as the final deadline. This is based on the following factors:
The SEC has no grounds left to reject an ETF after losing against Grayscale in court recently.
ARK Invest's Bitcoin ETF application faces a final deadline on January 10, 2024.
If the SEC approves any spot BTC ETF, it would likely greenlight all other similar applications simultaneously to avoid market distortions.
Cathie Wood of ARK Invest also holds a similar view, expecting the SEC to approve all Bitcoin spot ETFs together if it gives the nod to any one. With ARK's deadline fast approaching, the stage seems set for the first approval within the next few months.
<h3 id="strong-how-would-a-spot-etf-impact-bitcoin-s-price-strong">How Would A Spot ETF Impact Bitcoin's Price?</h3>
The launch of a spot Bitcoin ETF would allow mainstream investors exposure to Bitcoin through traditional brokerage accounts, including retirement funds like 401Ks. This could drive billions of dollars of fresh capital into the crypto market.
According to a former BlackRock director's estimate, as much as <a href="https://x.com/rovercrc/status/1714260973882843567?s=20" target="_blank" rel="noopener noreferrer nofollow">$300 billion could flow into Bitcoin</a> in just the first year after an ETF launches. With only around 1.8 million bitcoins left to be mined, this tidal wave of new demand could lead to an immense supply shock. The strictly limited Bitcoin inventory available to purchase makes it highly sensitive to sudden capital inflows. Even a small portion of the projected $300 billion buying into Bitcoin could set off an exponential price rally, as supply struggles to keep up with surging institutional demand unleashed by the ETF.
Historical precedents also point to a spot Bitcoin ETF approval sparking a significant breakout. The launch of the first US Bitcoin futures ETF in 2021 propelled Bitcoin to an all-time high of $69,000. With futures ETFs already trading, the impact of a physically-backed spot ETF is likely to be even more momentous.
However, some argue that an ETF may only provide fleeting short-term gains. Once the initial hype dies down, Bitcoin would need real-world utility to justify higher valuation levels. This is where projects like Bitcoin Minetrix that offer unique benefits come into the picture.
<h2 id="strong-how-bitcoin-minetrix-is-a-long-term-crypto-investment-strong">How Bitcoin Minetrix Is A Long Term Crypto Investment</h2>
While a Bitcoin ETF may catalyze a short-term price spike, projects adding real utility like <a href="https://shrt.care/f24415e8?referrer=why-bitcoin-minetrix-(btcmtx)-is-the-best-long-term-crypto-investment-over-short-term-blackrock-etf-hype" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a> will be key for sustainable long-term growth.
As the first tokenized cloud mining initiative, Bitcoin Minetrix allows users to purchase and stake tokens to gain mining credits. This provides easy and secure exposure to Bitcoin mining, avoiding high hardware costs and risks associated with external mining pools.
Some key benefits offered by Bitcoin Minetrix include:
<ul>
 <li style="font-weight: 400;">Decentralized mining: Users can mine Bitcoin without relying on third-party operators, upholding the ethos of decentralization.</li>
 <li style="font-weight: 400;">Security: Operating on the Ethereum blockchain enhances security and reliability compared to questionable cloud mining platforms.</li>
 <li style="font-weight: 400;">Accessibility: Bitcoin Minetrix opens up Bitcoin mining to regular investors by eliminating the need for expensive ASICs and mining farms.</li>
 <li style="font-weight: 400;">Profitability: With the upcoming Bitcoin halving reducing block rewards, Bitcoin Minetrix offers a way to benefit from potential price upside.</li>
</ul>
The project is currently holding an ICO at <a href="https://shrt.care/f24415e8?referrer=why-bitcoin-minetrix-(btcmtx)-is-the-best-long-term-crypto-investment-over-short-term-blackrock-etf-hype" target="_blank" rel="noopener noreferrer nofollow">bitcoinminetrix.com</a> across 10 stages, with the BTCMTX token price starting at $0.011 and set to reach $0.0119 by the final round. 70% of the total 4 billion token supply is being distributed via the ICO, prioritizing early contributors.
<img src="https://cdn.thebittimes.com/images/2023/10/17/1697552169.webp" alt="" width="800" height="388">
The presale has already raised over $1.6 million, showing strong investor interest. The competitive token price and 300%+ APY staking rewards add to its potential as a long term crypto investment as gains are compounded.
Influencers like YouTuber Joe Parys with 380,000+ subscribers have also voiced positive opinions about Bitcoin Minetrix recently. The project is running advertising campaigns across leading crypto sites as well, gaining significant visibility.
<iframe title="YouTube video player" src="//www.youtube.com/embed/ST0gouFLaTg" width="560" height="315" frameborder="0" allowfullscreen></iframe>
<h2 id="strong-bitcoin-minetrix-provides-long-term-investment-value-over-quick-etf-gains-strong">Bitcoin Minetrix Provides Long-Term Investment Value Over Quick ETF Gains</h2>
The long wait for a Bitcoin spot ETF seems to be finally nearing its end, with approval likely in the next 60-90 days based on expert projections. The launch is set to cause an eruption in price over the short term.&nbsp;
However, Bitcoin's long-term growth outlook will depend on increasing utility. Innovations like the decentralized cloud mining solution offered by Bitcoin Minetrix point the way forward, providing accessible and secure exposure along with healthy staking incentives. As the industry matures, new projects integrating real-world value are poised to emerge as market leaders and long term crypto investment opportunities for early entrants.
<a href="https://shrt.care/f24415e8?referrer=why-bitcoin-minetrix-(btcmtx)-is-the-best-long-term-crypto-investment-over-short-term-blackrock-etf-hype" rel="noopener noreferrer nofollow">Visit Bitcoinminetrix.com</a>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/why-bitcoin-minetrix-btcmtx-is-the-best-long-term-crypto-investment-over-short-term-blackrock-etf-hype-tbt66713.html">https://thebittimes.com/why-bitcoin-minetrix-btcmtx-is-the-best-long-term-crypto-investment-over-short-term-blackrock-etf-hype-tbt66713.html</a>

Why Bitcoin Minetrix (BTCMTX) Is The Best Long Term Crypto Investment, Over Short Term BlackRock ETF Hype

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