Convergence

Bitcoin

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<p><span style="font-weight: 400;">The Bitcoin price dropped 1.3% in the last 24 hours </span><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">to trade at $50,928</span></a><span style="font-weight: 400;"> as of 05:11 a.m. EST on trading volume that surged 46% to $32.88 billion.</span></p>
<p><span style="font-weight: 400;">This comes as MicroStrategy co-founder and BTC Bull Michael Saylor says that he has no plans to sell Bitcoin.</span></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> is the Exit Strategy. <a href="https://t.co/aauBgmE25a" rel="noopener noreferrer nofollow">pic.twitter.com/aauBgmE25a</a></p>
 <p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1759998668558516584?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 20, 2024</a></p>
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<p><span style="font-weight: 400;">His decision aligns with his belief that Bitcoin is “technically stronger” than gold, the S&amp;P 500, and real estate. Supporting his sentiment, Saylor believes that in this case, there is no reason to sell the winner (BTC) to buy the losers (others).&nbsp;</span></p>
<p>”Bitcoin is the exit strategy,” he said.</p>
<p><span style="font-weight: 400;">MicroStrategy holds 190,000 BTC, worth around $9.88 billion at current prices. This makes the firm one of the major holders of the cryptocurrency.</span></p>
<h2 id="span-style-font-weight-400-bitcoin-price-bullish-as-the-bulls-aim-to-break-out-of-the-consolidation-phase-around-50-000-span"><span style="font-weight: 400;">Bitcoin Price Bullish As The Bulls Aim To Break Out Of the Consolidation Phase Around $50,000</span></h2>
<figure id="attachment_482420" aria-describedby="caption-attachment-482420" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-482420" src="https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSD_2024-02-21_13-11-14.png" alt="Bitcoin Price Chart Analysis Source: Tradingview.com" width="1281" height="555" srcset="https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSD_2024-02-21_13-11-14.png 1281w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSD_2024-02-21_13-11-14-300x130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSD_2024-02-21_13-11-14-1024x444.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCUSD_2024-02-21_13-11-14-768x333.png 768w" sizes="(max-width: 1281px) 100vw, 1281px">
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  BTCUSD Chart Analysis Source: Tradingview.com
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<p><span style="font-weight: 400;">Bitcoin price market behavior exhibits a consolidation phase, as evident in the recent trading sessions. BTC is currently in a tight range, with resistance near the $52,500 level and support around the $50,850 mark.</span></p>
<p><span style="font-weight: 400;">Bitcoin attempted to breach the resistance at $52,515, which was short-lived as it retraced back into its established range.</span></p>
<p><span style="font-weight: 400;">Additionally, BTC is trading above the 100-day and 200-day Simple Moving Averages, which indicate strong bullish sentiments for the BTC price. The 50-day SMA is trading above the 200-day SMA, forming a golden cross at $42,895, further supporting the bullish prospects for the price.</span></p>
<p><img decoding="async" class="alignnone size-full wp-image-482423" src="https://insidebitcoins.com/wp-content/uploads/2024/02/BTCMA.png" alt="BTCMACD" width="1281" height="555" srcset="https://insidebitcoins.com/wp-content/uploads/2024/02/BTCMA.png 1281w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCMA-300x130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCMA-1024x444.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/BTCMA-768x333.png 768w" sizes="(max-width: 1281px) 100vw, 1281px"></p>
<p><span style="font-weight: 400;">The Relative Strength Index is currently on a downward trend as it moves to the oversold region at 40. If the oscillator reaches the 30-oversold region, it likely indicates that the price is set to rebound, signaling investors to consider buying.</span></p>
<p><span style="font-weight: 400;">The Moving Average Convergence Divergence (MACD) line (blue) is trading below the signal line (orange) but above the zero line, which may signal an impending bullish reversal. The red bars further support this as they reduce in size towards the zero line.</span></p>
<h2 id="span-style-font-weight-400-bitcoin-price-prediction-span"><span style="font-weight: 400;">Bitcoin Price Prediction</span></h2>
<p><span style="font-weight: 400;">The Bitcoin price technical analysis shows bullish bias, evident from the price trending within the rising channel. The bulls are aiming to come out of the consolidation phase within the channel, breaching the upper boundary of the channel. The bulls are currently targeting $57,500.</span></p>
<p><span style="font-weight: 400;">However, the MACD line is trending downward towards the zero line. If the line crosses below the line, it may cause a price retrace to $48,642, coinciding with the immediate support zone, the 100-day SMA.</span></p>
<p><span style="font-weight: 400;">Meanwhile, investors are turning to Bitcoin Minetrix, a Bitcoin derivative that analysts say has the potential to 10X on launch.</span></p>
<h2 id="span-style-font-weight-400-a-promising-cloud-mining-project-with-potential-10x-gains-best-buy-span"><span style="font-weight: 400;">A Promising Cloud Mining Project With Potential 10X Gains – Best Buy</span></h2>
<p><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin Minetrix (BTCMTX)</span></a><span style="font-weight: 400;"> is an innovative project that paves the way for decentralized and tokenized Bitcoin mining, making it accessible even to the ordinary person.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Acknowledging the Simplicity of <a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a> 🔄<a href="https://twitter.com/hashtag/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTCMTX</a>: Empowering users with secure funds and tradeable tokens they control.</p>
 <p>Traditional Cloud Mining: Mired in intricate contracts and terms. 📝 <a href="https://t.co/rS4J2h6du0" rel="noopener noreferrer nofollow">pic.twitter.com/rS4J2h6du0</a></p>
 <p>— Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1759986392736674174?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 20, 2024</a></p>
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<p><span style="font-weight: 400;">The project is poised to revolutionize the cloud mining landscape, providing streamlined operations at minimal cost. Its primary objective is to eliminate the complexities and resource-demanding requirements that have long hindered participants in the mining sector.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Considering the contrast between mining <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and buying <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>? 💭</p>
 <p>💡 Play a vital role in network expansion.</p>
 <p>🔒 Gain greater control over the acquisition journey.</p>
 <p>🔧 Deepen understanding of the technical complexities. <a href="https://t.co/yJNEtUNY2K" rel="noopener noreferrer nofollow">pic.twitter.com/yJNEtUNY2K</a></p>
 <p>— Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1759624011280011457?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 19, 2024</a></p>
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<p><span style="font-weight: 400;">With such an interesting approach to Bitcoin mining, the project has garnered a massive following. The presale, entering into its 27th round, has amassed more than $11.2 million, as it aims for $12.1 million.</span></p>
<h2 id="span-style-font-weight-400-stake-btcmtx-earn-passive-income-span"><span style="font-weight: 400;">Stake $BTCMTX, Earn Passive Income</span></h2>
<p><span style="font-weight: 400;">You can earn passively on the platform through a staking option, where you can </span><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">buy and stake</span></a><span style="font-weight: 400;"> your BTCMTX tokens and earn an impressive 60% annual percentage yield (APY).</span></p>
<p><span style="font-weight: 400;">By buying and holding BTCMTX, you can also participate in the </span><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">$30,000 minedrop airdrop competition</span></a><span style="font-weight: 400;">, with ten lucky winners poised to win $3,000 each. To join the project, you can buy the BTCMTX tokens at a reduced rate of $0.0136 per token, with a hike coming in less than four days.</span></p>
<p><span style="font-weight: 400;">Crypto analyst and YouTuber Jacob Bury believes that BTCMTX has the potential to reach 10X on launch.</span></p>
<p><iframe title="Bitcoin Minetrix ICO Hits $10M - Next 10X Potential Crypto?!" width="640" height="360" src="https://www.youtube.com/embed/Q3LtZHfZN_w?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;">To take part in the presale, visit </span><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">the BTCMTX official website</span></a><span style="font-weight: 400;"> and swap your ETH or USDT for BTCMTX. You can also make purchases directly using your bank card.</span></p>
<h2 id="span-style-font-weight-400-related-news-span"><span style="font-weight: 400;">Related News</span></h2>
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Bitcoin Price Prediction: BTC Bull Michael Saylor Says No Reason “To Sell The Winner And Buy Losers” As Analysts Predict This Bitcoin Deriva...

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