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Bitcoin

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<p><span style="font-weight: 400;">The Bitcoin price has climbed 2.8% in the last 24 hours to hold a spot price of </span><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">$40.9K</span></a><span style="font-weight: 400;">&nbsp;as of 9:30 a.m. EST.</span></p>
<p><span style="font-weight: 400;">In the midst of the Bitcoin price rebound, research by Santiment shows that Reddit users were the quickest to buy the dip during the recent BTC price decrease, unlike pessimistic or undecided users on other social media networks like Telegram and X.&nbsp;</span></p>
<p>While bullish terms like ”buy” and ”bottom” showed a spike on Santiment’s social volume metric for Reddit, users on X and Telegram were still in bearish mode, the firm said.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">📈🧐 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> has rebounded back above $40K, and social platforms are split on how to respond to the volatility that has been prevalent ever since the <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETF</a> approvals 2 weeks ago. When <a href="https://twitter.com/hashtag/Telegram?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Telegram</a>, <a href="https://twitter.com/hashtag/Reddit?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Reddit</a>, <a href="https://twitter.com/hashtag/X?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#X</a>, and <a href="https://twitter.com/hashtag/4Chan?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#4Chan</a> are all in an extreme level of <a href="https://twitter.com/hashtag/bullish?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bullish</a> or</p>
 <p>(Cont) 👇 <a href="https://t.co/B6u5WV164R" rel="noopener noreferrer nofollow">pic.twitter.com/B6u5WV164R</a></p>
 <p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1750310139377459648?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 25, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="span-style-font-weight-400-bitcoin-price-analysis-bitcoin-bulls-take-charge-span"><span style="font-weight: 400;">Bitcoin Price Analysis: Bitcoin Bulls Take Charge</span></h2>
<p><span style="font-weight: 400;">Looking at an analysis of 1-hour BTC/USD charts, we see the recent candles show a significant increase in price with a large green candle, indicating intense buying pressure during the last hour.</span></p>
<p><span style="font-weight: 400;">The price is currently above both the 200-period Moving Average (200 SMA) and the 50-period Moving Average (50 SMA), typically a bullish indicator. Should the 50-SMA cross above the 200-SMA (a ‘Golden Cross’), it could indicate a longer-term bullish trend if it occurs.</span></p>
<p><span style="font-weight: 400;">Additionally, the Relative Strength Index (RSI) is around 58.52, below the overbought threshold of 70. This suggests that there is room for upward price movement before the asset becomes overbought. On the other hand, the Average Directional Index (ADX) has a value of 21.32, which indicates that the current trend is gaining strength, as values above 20 suggest a growing trend.</span></p>
<p><span style="font-weight: 400;">The Awesome Oscillator (AO), also used in gauging trends, shows a value of 707, which is positive, and the histogram bars are green. This indicates that the market momentum is currently favourable for Bitcoin.</span></p>
<p><span style="font-weight: 400;">The technical indicators suggest a bullish trend in the short term, with the potential for further upward movement, as indicated by the RSI and ADX.&nbsp;</span></p>
<p><img decoding="async" class="alignnone size-full wp-image-475506" src="https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893.png" alt="" width="2532" height="1262" srcset="https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893.png 2532w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-300x150.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-1024x510.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-768x383.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-83x40.png 83w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-1536x766.png 1536w, https://insidebitcoins.com/wp-content/uploads/2024/01/Apex_1706278650893-2048x1021.png 2048w" sizes="(max-width: 2532px) 100vw, 2532px"></p>
<p style="text-align: center;">1-hour BTC/USD chart | Source: <a href="https://www.tradingview.com/chart/mBPnB4WJ/?symbol=CRYPTO%3ABTCUSD" rel="noopener noreferrer nofollow">TradingView</a></p>
<p><span style="font-weight: 400;">Meanwhile, as the Bitcoin price recovers, investors seeking lucrative opportunities are increasingly drawn to Bitcoin Minetrix, which is ranked among the </span><a href="https://www.linkedin.com/pulse/best-crypto-watch-2024-top-5-cryptocurrencies-high-calsona-f8pve" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">standout presales in 2024</span></a><span style="font-weight: 400;">.&nbsp;</span></p>
<p><span style="font-weight: 400;">This ICO offers tokens at a mere $0.0131 per unit and has already secured an impressive $9.4 million in funding, with a target of $10.3 million.</span></p>
<h2 id="span-style-font-weight-400-an-attractive-alternative-span"><span style="font-weight: 400;">An Attractive Alternative</span></h2>
<p><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin Minetrix</span></a><span style="font-weight: 400;"> aims to democratize Bitcoin mining, making it accessible to anyone in the community.</span></p>
<p><span style="font-weight: 400;">At the core of the project </span><span style="font-weight: 400;">lies its take-to-Mine architecture. Users can stake BTCMTX, the project’s native token, on the Ethereum network, enabling them to participate in Bitcoin mining and earn Bitcoin (BTC) rewards. This approach offers a more inclusive and cost-effective method of mining Bitcoin.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a> revitalizes the landscape of cloud mining by merging stakeholding and cloud mining.</p>
 <p>Pioneering tokenized cloud mining focusing on transparency, autonomy, and security, <a href="https://twitter.com/hashtag/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTCMTX</a> is dedicated to providing a reliable pathway for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> mining enthusiasts. 🌐⚒️ <a href="https://t.co/Mrxv0Hnrst" rel="noopener noreferrer nofollow">pic.twitter.com/Mrxv0Hnrst</a></p>
 <p>— Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1749356290420203535?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a></p>
</blockquote>
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<p><span style="font-weight: 400;">In this way, it eliminates a significant deterrent of traditional mining: exorbitant hardware costs, high energy costs, and the need for a large space.&nbsp;</span></p>
<p><span style="font-weight: 400;">With analysts being </span><a href="https://www.linkedin.com/pulse/bitcoin-price-prediction-experts-forecast-bullish-trends-calsona-o1vue" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">optimistic</span></a><span style="font-weight: 400;"> about a Bitcoin price pump in coming months helped by the impending halving event scheduled early April, </span><span style="font-weight: 400;">BTCMTX is well position to capitalize. Crypt analyst and YouTuber Jacob Bury foresees a potential 10X increase in value on launch.</span></p>
<p><iframe title="Best 3 Crypto Presales 2024 - 10X Potential Cryptocurrency?!" width="640" height="360" src="https://www.youtube.com/embed/WB_5wNEXtQc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Visit and buy Bitcoin Minetrix here</span></a><span style="font-weight: 400;">.</span></p>
<h2 id="span-style-font-weight-400-related-news-span"><span style="font-weight: 400;">Related News</span></h2>
<ul>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-plummets-5-but-this-bitcoin-cloud-mining-presale-is-soaring-towards-10-million-raised" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin Price Prediction: BTC Plummets 5%, But This Bitcoin Cloud Mining Presale Is Soaring Towards $10 Million Raised</span></a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/how-to-buy-bitcoin-minetrix-on-presale-alessandro-de-crypto-video-review" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">How To Buy Bitcoin Minetrix On Presale – Alessandro De Crypto Video Review</span></a></li>
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Bitcoin Price Prediction: As Santiment Says Redditors Were Quickest To Buy The BTC Dip, Experts Urge Traders To Do The Same With This Boomin...

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