Bitcoin (BTC) remains a hot topic this week, with the leading cryptocurrency now trading above $72,000.
Speculation is mounting that BTC could be gearing up for another upward leg soon, potentially pushing past $80,000 by the end of the month.
Adding fuel to this bullish narrative is the imminent Initial Exchange Offering (IEO) of Bitcoin Minetrixâs native BTCMTX token following its highly successful presale phase.
Bitcoin is showing incredible strength, with the crypto king breaking past $73,000 for the first time ever earlier today.
While a typical round of profit-taking caused a slight dip, Bitcoin quickly rebounded.
But can it reach the ambitious $80,000 milestone in March?
Several factors are lining up that could lead to such an enormous milestone.
For one, demand for spot Bitcoin ETFs has been off the charts, with billions of dollars being funneled into simply obtaining BTC exposure.
Additionally, the highly anticipated âhalvingâ event, during which Bitcoinâs new supply issuance will be cut in half, is just around the corner in April.
Historically, this deflationary occurrence has preceded massive bull runs as market pricing adjusts to tighter supply conditions.
With whales relentlessly accumulating BTC and retail investors maintaining buying pressure, Bitcoin seems poised to crack the psychological barrier of $80,000.
Beyond Bitcoinâs strong fundamentals and the upcoming supply reduction from the halving, several other developments could accelerate BTCâs momentum.
Most notably, Coinbase â the largest US-based crypto exchange â recently announced plans to raise $1 billion through a bond offering.
The crypto behemoth hasnât revealed what the funds will be used for, yet speculation is rife that some could be directed towards BTC purchases.
Such a massive accumulation from a mainstream, publicly traded company would inevitably put upward price pressure on the coin.
Additionally, Michael Saylor â the famous Bitcoin bull and CEO of MicroStrategy â has been beating the drum even louder lately.
In a recent interview with CNBC, Saylor doubled down on his âBitcoin will eat goldâ narrative, claiming that the coinâs superior properties will see it siphon massive amounts of capital from the precious metal throughout 2024.
Combined with BlackRock making strides to offer BTC exposure across its fund selection, this sort of endorsement from Saylor could lead to more FOMO.
Ultimately, with so many forces converging at the same time, a run at the $80,000 level in March doesnât seem so farfetched.
With broader catalysts setting the stage for Bitcoin to potentially explode higher, another event that could add fuel to the fire is the upcoming exchange launch of Bitcoin Minetrixâs native BTCMTX token.
For those unaware, Bitcoin Minetrix is introducing a novel âStake-to-Mineâ ecosystem built on the Ethereum blockchain.
This allows anyone to earn BTC rewards by staking BTCMTX â no mining rigs or technical knowledge is required.
Hereâs how it works in simple terms: Investors purchase and stake BTCMTX tokens, which are then used to mint cloud mining credits through a smart contract.
These credits essentially represent a share of Bitcoin Minetrixâs enormous mining power.
By burning those cloud mining credits, users will receive a cut of the mining rewards from Bitcoin Minetrixâs cloud mining operations, which are paid out in BTC.
Itâs cryptocurrency mining, but itâs accessible, secure, and affordable for the average person.
Alongside the Stake-to-Mine feature, the platform even has another staking protocol offering yields of 57% per year.
After a wildly successful presale event, Bitcoin Minetrix is now nearing the $15 million funding target.
Once that target has been hit, the development team intends to list BTCMTX on several CEXs.
Members of Bitcoin Minetrixâs Telegram channel are looking forward to these listings, believing they could spark a significant price surge for BTCMTX.
Visit Bitcoin Minetrix Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Can Bitcoin Hit $80k This Month as Bitcoin Minetrix Nears IEO appeared first on CryptoPotato.
Speculation is mounting that BTC could be gearing up for another upward leg soon, potentially pushing past $80,000 by the end of the month.
Adding fuel to this bullish narrative is the imminent Initial Exchange Offering (IEO) of Bitcoin Minetrixâs native BTCMTX token following its highly successful presale phase.
Bitcoin Blasts Past $73k, But Is $80k Next?
Bitcoin is showing incredible strength, with the crypto king breaking past $73,000 for the first time ever earlier today.
While a typical round of profit-taking caused a slight dip, Bitcoin quickly rebounded.
But can it reach the ambitious $80,000 milestone in March?
Several factors are lining up that could lead to such an enormous milestone.
For one, demand for spot Bitcoin ETFs has been off the charts, with billions of dollars being funneled into simply obtaining BTC exposure.
Additionally, the highly anticipated âhalvingâ event, during which Bitcoinâs new supply issuance will be cut in half, is just around the corner in April.
Historically, this deflationary occurrence has preceded massive bull runs as market pricing adjusts to tighter supply conditions.
With whales relentlessly accumulating BTC and retail investors maintaining buying pressure, Bitcoin seems poised to crack the psychological barrier of $80,000.
Coinbase Bond Issue & Saylorâs Comments Lead to Investor FOMO
Beyond Bitcoinâs strong fundamentals and the upcoming supply reduction from the halving, several other developments could accelerate BTCâs momentum.
Most notably, Coinbase â the largest US-based crypto exchange â recently announced plans to raise $1 billion through a bond offering.
The crypto behemoth hasnât revealed what the funds will be used for, yet speculation is rife that some could be directed towards BTC purchases.
Such a massive accumulation from a mainstream, publicly traded company would inevitably put upward price pressure on the coin.
Additionally, Michael Saylor â the famous Bitcoin bull and CEO of MicroStrategy â has been beating the drum even louder lately.
In a recent interview with CNBC, Saylor doubled down on his âBitcoin will eat goldâ narrative, claiming that the coinâs superior properties will see it siphon massive amounts of capital from the precious metal throughout 2024.
Combined with BlackRock making strides to offer BTC exposure across its fund selection, this sort of endorsement from Saylor could lead to more FOMO.
Ultimately, with so many forces converging at the same time, a run at the $80,000 level in March doesnât seem so farfetched.
Bitcoin Minetrixâs Native BTCMTX Nears Highly-Anticipated Exchange Debut
With broader catalysts setting the stage for Bitcoin to potentially explode higher, another event that could add fuel to the fire is the upcoming exchange launch of Bitcoin Minetrixâs native BTCMTX token.
For those unaware, Bitcoin Minetrix is introducing a novel âStake-to-Mineâ ecosystem built on the Ethereum blockchain.
This allows anyone to earn BTC rewards by staking BTCMTX â no mining rigs or technical knowledge is required.
Hereâs how it works in simple terms: Investors purchase and stake BTCMTX tokens, which are then used to mint cloud mining credits through a smart contract.
These credits essentially represent a share of Bitcoin Minetrixâs enormous mining power.
By burning those cloud mining credits, users will receive a cut of the mining rewards from Bitcoin Minetrixâs cloud mining operations, which are paid out in BTC.
Itâs cryptocurrency mining, but itâs accessible, secure, and affordable for the average person.
Alongside the Stake-to-Mine feature, the platform even has another staking protocol offering yields of 57% per year.
After a wildly successful presale event, Bitcoin Minetrix is now nearing the $15 million funding target.
Once that target has been hit, the development team intends to list BTCMTX on several CEXs.
Members of Bitcoin Minetrixâs Telegram channel are looking forward to these listings, believing they could spark a significant price surge for BTCMTX.
Visit Bitcoin Minetrix Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Can Bitcoin Hit $80k This Month as Bitcoin Minetrix Nears IEO appeared first on CryptoPotato.
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