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<p><span style="font-weight: 400;">The Bitcoin price </span><a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">jumped</span></a><span style="font-weight: 400;"> more than 3% to trade at $50,095.76 as of 2:25 am EST as investors look to ride the market leader’s positive momentum.&nbsp;</span></p>
<h2 id="span-style-font-weight-400-the-bitcoin-price-continues-its-bullish-streak-span"><span style="font-weight: 400;">The Bitcoin Price Continues Its Bullish Streak</span></h2>
<p><img decoding="async" src="https://s3.tradingview.com/snapshots/l/lOC7iVg2.png" alt="BINANCE:BTCUSDT Chart Image by StevenWalgenbach"></p>
<p><span style="font-weight: 400;">4-hour chart for BTC/USDT (Source: </span><a href="https://www.tradingview.com/x/lOC7iVg2/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">TradingView</span></a><span style="font-weight: 400;">)</span></p>
<p><span style="font-weight: 400;">The </span><a href="https://insidebitcoins.com/news/microstrategy-bitcoin-profits-top-3-billion-as-firm-led-by-michael-saylor-now-holds-more-than-1-of-btcs-supply" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> price continued to trade within its bullish channel over the past 48 hours, which ultimately gave it the momentum needed to overcome the $50,000 barrier. Should bulls continue to drive the leading crypto’s price up, BTC may flip the $50,000 resistance into support soon. </span></p>
<p><span style="font-weight: 400;">This could then give it the foundation needed to potentially rise to as high as $52,115 in the following couple of days.</span></p>
<p><span style="font-weight: 400;">The bullish thesis could be invalidated if the </span><a href="https://insidebitcoins.com/news/blackrock-and-fidelity-spot-bitcoin-etfs-gather-more-assets-in-first-month-than-any-other-us-etf-in-30-years" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> price fails to close a 4-hour candle above the $50,000 threshold within the next 24 hours. In this alternative scenario, the crypto may retest the immediate support level at $47,930. </span></p>
<p><span style="font-weight: 400;">Continued selling pressure at this mark may then put BTC at risk of falling to the next major support level at $44,430 in the short term. The Bitcoin price could even fall to as low as $42,450 in an extremely bearish scenario.</span></p>
<h2 id="span-style-font-weight-400-bitcoin-price-shows-no-signs-of-slowing-down-span"><span style="font-weight: 400;">Bitcoin Price Shows No Signs Of Slowing Down</span></h2>
<p><span style="font-weight: 400;">Technical indicators on BTC’s 4-hour chart suggest short-term momentum is in favor of buyers. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bullish.</span></p>
<p><span style="font-weight: 400;">The MACD line positioned above the MACD Signal line could be taken as a sign that BTC is currently in a bullish cycle. With the prior also breaking away above the latter, this positive momentum seems to be growing stronger as well.</span></p>
<p><span style="font-weight: 400;">A significant bullish technical flag is also on the verge of being triggered by the RSI indicator on BTC’s 4-hour chart. Currently, the RSI is attempting to break away above its Simple Moving Average (SMA) line. A cross between these two lines could be a strong signal that buyers have gained a short-term upper hand against sellers. </span></p>
<p><span style="font-weight: 400;">As a result, it may be easier for bulls to boost the Bitcoin price in the 48 hours after this possible intersection than it will be for bears to pull it down during the same period. Should this technical flag be confirmed and validated, BTC may soon overcome the $50,000 barrier again and attempt a challenge at the $52,115 resistance shortly thereafter.</span></p>
<p><span style="font-weight: 400;">Bitcoin’s continued rise could pave the way for </span><a href="https://insidebitcoins.com/news/grayscales-bitcoin-etf-must-slash-fees-or-lose-share-to-blackrock-and-fidelity-funds-with-competitive-advantages-jpmorgan-says" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> derivative projects such as Bitcoin Minetrix to skyrocket in the near future. This would align perfectly with the 10X bullish predictions analysts have already made regarding this Bitcoin cloud mining project.</span></p>
<h2 id="span-style-font-weight-400-the-next-10x-opportunity-span"><span style="font-weight: 400;">The Next 10X Opportunity</span></h2>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Exploring the benefits of <a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a>:</p>
 <p>Effortless accessibility for enhanced convenience. 🚀</p>
 <p>Streamlined pricing structure for increased efficiency. 📊</p>
 <p>Experience tranquility knowing there are no worries about reselling. 💼 <a href="https://t.co/OuEk3DfXJT" rel="noopener noreferrer nofollow">pic.twitter.com/OuEk3DfXJT</a></p>
 <p>— Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1756724881054405006?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 11, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin Minetrix</span></a><span style="font-weight: 400;"> is an innovative cloud mining platform that aims to give the BTC cloud mining space the facelift it so desperately needs. Through decentralization and its stake-to-mine model, the project not only makes Bitcoin cloud mining more secure, but also makes the process as simple as staking an ERC-20 token.</span></p>
<p><span style="font-weight: 400;">To get started, investors will need to purchase BTCMTX on the project’s website. The token is currently selling for $0.0134, and can be bought using ether (ETH), Tether (USDT) or bank card.&nbsp; </span></p>
<p><span style="font-weight: 400;">Once purchased, the tokens will need to be staked for gas rewards, which will then need to be burned in order to claim a share of Bitcoin Minetrix’s cloud mining power.</span></p>
<h2 id="span-style-font-weight-400-investors-are-bullish-on-btc-mining-span"><span style="font-weight: 400;">Investors Are Bullish On BTC Mining</span></h2>
<p><span style="font-weight: 400;">The recent introduction of spot Bitcoin ETFs (exchange-traded funds) in the U.S. has propelled the market leader’s price in the past few weeks. As a result, investors are actively seeking opportunities to earn a passive income that pays in BTC. This is evident in Bitcoin Minetrix’s presale, which has hurtled past the $10.7 million mark.</span></p>
<p><iframe title="🚀 Get in on the Action! Bitcoin Minetrix Airdropping $30,000 - Will You Be the Lucky Winner?🤑💰" width="640" height="360" src="https://www.youtube.com/embed/vd44Ibn7PjI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p><span style="font-weight: 400;">In addition to this, legendary tech entrepreneur Jack Dorsey is backing a new BTC mining venture called Ocean. Ocean is a new type of Bitcoin mining pool that launched in November 2023 with the tagline, “Bitcoin mining as it was supposed to be.” </span></p>
<p><span style="font-weight: 400;">The main objective of the pool is to tackle the centralization threat posed by large mining pools to the Bitcoin network.</span></p>
<p><span style="font-weight: 400;">The introduction of Ocean highlights the growing demand for more Bitcoin mining initiatives to join the space, which sets Bitcoin Minetrix up perfectly to 10X in the near future. Adding to the project’s potential is the upcoming halving scheduled for some time in April this year, which will make it harder to come by new BTC.&nbsp;</span></p>
<p><span style="font-weight: 400;">This reduction in supply matched with the increased demand brought on by spot Bitcoin ETFs will likely result in a skewed supply and demand ratio, which is hugely positive for any Bitcoin-linked projects.</span></p>
<p><span style="font-weight: 400;">BTCMTX can be purchased </span><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p>
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3>
<ul>
 <li style="font-weight: 400;" aria-level="1"><a href="https://www.linkedin.com/pulse/best-penny-crypto-investments-top-picks-explosive-growth-calsona-j8nhe/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!&nbsp;</span></a></li>
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Bitcoin Price Prediction: BTC Breaks $50K To Open Up Room For This Bitcoin Derivative To Potentially 10X As Jack Dorsey Says He Is Bullish O...

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Inside Bitcoins

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