Token

Bitcoin ETF

Bitcoin

Million

<img src="https://cdn.thebittimes.com/images/2023/10/23/1698074398.webp" alt="" width="800" height="424">
Despite the approval of the BlackRock Bitcoin ETF turning out to be fake news, the Bitcoin price has showed bullish continuation and traded even higher than the wick caused by that news. BTC is currently trading at close to $31,000, having hit an intraday high of $30,985.&nbsp;
While BTC price is up 10% on the weekly time frame, a new cryptocurrency - <a href="https://shrt.care/f24415e8?referrer=bitcoin-price-tests-$31k-as-new-mining-token-btc-minetrix-hits-$2-million-in-ico---best-crypto-to-buy-now" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a> (BTCMTX) - is also seeing strong demand in its ICO.&nbsp;
Thanks to its decentralized crypto mining utility, the new token has raised close to $2 million in its ICO in just over 3 weeks since <a href="https://thebittimes.com/new-crypto-staking-platform-bitcoin-minetrix-launches-token-ico-raises-100-000-day-one-tbt64224.html" target="_blank" rel="noopener noreferrer nofollow">we first reviewed the project</a>. In this article we review why BTCMTX may potentially be the best crypto to buy now to benefit from Bitcoin’s bull run.
<img src="https://cdn.thebittimes.com/images/2023/10/23/1698074434.webp" alt="" width="800" height="724">
<h2 id="strong-bitcoin-minetrix-best-crypto-to-buy-now-strong">Bitcoin Minetrix - Best Crypto To Buy Now?</h2>
The Uptober scenario finally appears to be playing out as crypto prices - led by Bitcoin - are displaying strong growth. According to Michael van de Poppe of MN Trading, who has close to 700k followers on Twitter, believes that the <a href="https://x.com/CryptoMichNL/status/1715312968169042002?s=20" target="_blank" rel="noopener noreferrer nofollow">crypto bull market</a> has already started and BTC could potentially hit the $40,000 mark before the end of the year.&nbsp;
During a crypto bull run, the Bitcoin mining industry turns extremely profitable as the value of BTC rewards surges at a much higher rate than the cost. Stocks of major crypto mining companies like Riot Platforms also start to surge.&nbsp;
However, ordinary investors have found it nearly impossible to compete with these wealthy corporations for a share of the profits. For instance, Riot reported that the average cost to mine 1 BTC in the second quarter of 2023 was close to $8400. On the other hand, a solo miner could face costs ranging from $30,000 to $200,000 - depending upon the geographical location.&nbsp;
Bitcoin Minetrix is attempting to change this lopsided nature of the crypto mining industry. The platform’s tokenized approach towards cloud mining allows retail investors to earn BTC rewards, without the need for any technical expertise or expensive mining equipment - all one needs in an Ethereum-compatible wallet such as MetaMask.
Investors can purchase the $BTCMTX token at <a href="https://shrt.care/f24415e8?referrer=bitcoin-price-tests-$31k-as-new-mining-token-btc-minetrix-hits-$2-million-in-ico---best-crypto-to-buy-now" target="_blank" rel="noopener noreferrer nofollow">bitcoinminetrix.com</a> at a presale price of $0.0111. These tokens can be staked through Minetrix’s stake-to-mine dashboard in exchange for non-transferable mining credits. These credits can be burned to earn a percentage of the yields or cloud mining time - both options leading to passive BTC mining rewards.&nbsp;
<img src="https://cdn.thebittimes.com/images/2023/10/23/1698074471.webp" alt="" width="576" height="378">
With the Bitcoin price expected to continue its bull rally in the coming weeks, these BTC rewards could end up becoming a fortune for investors. After all, 1 Bitcoin mined in 2013 has surged by 30,000x in 10 years - similarly, Bitcoin Minetrix claims that it will provide hassle-free crypto mining for the next decade.&nbsp;
<h2 id="strong-bitcoin-minetrix-s-stake-to-mine-is-a-valuable-utility-during-bearish-conditions-strong">Bitcoin Minetrix’s Stake-To-Mine Is A Valuable Utility During Bearish Conditions</h2>
Despite Bitcoin’s strong performance, a few experts are predicting another bearish stretch for the largest cryptocurrency in the coming weeks. <a href="https://x.com/DrProfitCrypto/status/1715353929259614300?s=20" target="_blank" rel="noopener noreferrer nofollow">@DrProfitCrypto</a>, who has over 200k subscribers on X, states that the crypto market is not in a bull run and BTC needs to revisit $23k for any sustainable rally.&nbsp;
If this prediction holds, Bitcoin Minetrix’s on-chain staking mechanism could come in handy for the investors. Even before the launch of the cloud mining platform, they can stake their tokens and earn staking rewards in the presale itself.&nbsp;
The $BTCMTX staking pool is currently offering an APY of over 300%, which allows retail investors to generate passive income, irrespective of the broader market outlook.&nbsp;
Bitcoin MInetrix’s tokenized approach also offers a higher degree of transparency, a crucial element that has been missing from the cloud mining sector. Many platforms - such as Fancy Crypto, Happy Miner and IDMining - turned out to be outright scams, which created an unfavourable image of the industry in the minds of the investors.&nbsp;
Even supposedly legitimate platforms are plagued with centralization issues and often force clients to enter into long-term cash-based contracts.&nbsp; With Minetrix’s <a href="https://bitcoinminetrix.com/en/dashboard" target="_blank" rel="noopener noreferrer nofollow">stake-to-mine</a> dashboard, users can keep a constant tab on their mining credits and staked tokens, as well as on the amount of rewards earned. Furthermore, they can choose to unstake and sell their tokens at any time - no cash deposits, no long-term commitment.
<img src="https://cdn.thebittimes.com/images/2023/10/23/1698074506.webp" alt="" width="800" height="479">
The token smart contract has also been audited by Coinsult, which revealed no vulnerabilities or centralization risks.&nbsp;
<h2 id="strong-bitcoin-minetrix-price-potential-strong">Bitcoin Minetrix Price Potential</h2>
Bitcoin Minetrix’s decentralized cloud mining utility could be high in demand in the next bull run - consequently, several smart-money investors are bullish on the token. The admin of the <a href="https://t.me/whalepumpgroup23/792" target="_blank" rel="noopener noreferrer nofollow">Crypto Whale Pumps group</a> on Telegram - which has close to 25k subscribers - revealed that he invested a five-figure sum into $BTCMTX.&nbsp;
Similarly, <a href="https://youtu.be/Cr48YdiTmUA?si=Ig-tn9030Tk8fGDr" target="_blank" rel="noopener noreferrer nofollow">Michael Wrubel</a> and <a href="https://youtu.be/HOtU4UfV_3Y?si=IqaS7yjiXXAnJ6GN" target="_blank" rel="noopener noreferrer nofollow">Jacob Bury</a> are backing Bitcoin Minetrix to display strong price growth after its launch, with Bury predicting a 10x bull rally.&nbsp;
<iframe title="YouTube video player" src="//www.youtube.com/embed/Cr48YdiTmUA" width="560" height="315" frameborder="0" allowfullscreen></iframe>
To further boost its user adoption, the project has announced “Minedrop” - a $30k airdrop style <a href="https://insidebitcoins.com/buy-cryptocurrency/best-crypto-giveaways" target="_blank" rel="noopener noreferrer nofollow">crypto giveaway</a> in which 10 lucky winners will win $3k worth of BTCMTX tokens each.&nbsp;
However, interested buyers looking to earn the maximum profits need to act quickly - the second stage of the presale is set to complete in less than 3 days, after which the token’s price will increase. Currently, investors can purchase Bitcoin Minetrix at the price of $0.0111 with a bank card or by swapping ETH, BNB or USDT for BTCMTX.&nbsp;
<a href="https://shrt.care/f24415e8?referrer=bitcoin-price-tests-$31k-as-new-mining-token-btc-minetrix-hits-$2-million-in-ico---best-crypto-to-buy-now" target="_blank" rel="noopener noreferrer nofollow">Visit Bitcoin Minetrix Presale</a>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-tests-31k-as-new-mining-token-btc-minetrix-hits-2-million-in-ico-best-crypto-to-buy-now-tbt67451.html">https://thebittimes.com/bitcoin-price-tests-31k-as-new-mining-token-btc-minetrix-hits-2-million-in-ico-best-crypto-to-buy-now-tbt67451.html</a>

Bitcoin Price Tests $31k As New Mining Token BTC Minetrix Hits $2 Million In ICO - Best Crypto To Buy Now?

Table of Contents

TheBitTimes

Other articles published on Oct 23, 2023

Cosmos Price Prediction: ATOM Back in the Game, What’s Next?

SOL Price Shoots $30 As Solana Investment Products Record $15 Million Inflows

Pro-Bitcoin Candidate Javier Milei Heads to Run-off in Argentina’s Presidential Elections

Chainlink Staking v0.2 Announcement Triggers Investor Interest and Price Surge

Uniswap Founder Burns 99% Of HayCoin (HAY) Supply, Value Soars

Reddit moderators removed on suspicions of insider trading during Community Points shutdown

Join our free newsletter for daily crypto updates!