Bitcoin Cash Jumps 27% in a Week as Bitcoin Minetrix Also Gains Pace


Bitcoin Cash has outperformed the market this week, pumping 27% to $616 after touching highs of $646 yesterday.

Meanwhile, the new ICO Bitcoin Minetrix is also gaining pace as its total raise nears the $13 million mark.

Bitcoin Cash Price Surges but Analysts Anticipate Further Gains in the Pipeline

Despite a resoundingly bullish performance this week, traders predict more upside ahead for the leading Bitcoin fork, Bitcoin Cash.

With a price of $616, Bitcoin Cash’s current market cap is $12.1 billion, and its 24-hour trading volume is $1.2 billion.

Its volume experienced a spectacular surge yesterday, up 281% from Monday. This illustrates a wave of interest flooding in ahead of its halving, set to occur in just two days.

The upcoming halving has shone the spotlight on the project, with market commentators analyzing its value and potential.

“Bitcoin Cash is what Bitcoin intended to be, both a medium of exchange and a store of value,” said Shortsqueeze20 in a recent analysis.

The commentator cited a graph displaying Bitcoin’s block size relative to its transaction fees since its inception in 2009.

It shows that Bitcoin transaction fees stayed low as Bitcoin’s block size grew but only increased once the blocks hit the 1MB cap. Shortsqueeze20 argues that Bitcoin Cash’s bigger block size makes it a more suitable medium of exchange and therefore superior to Bitcoin.

Indeed, a similar bullish sentiment can be felt in pricing data, with Bitcoin up 138% this year while Bitcoin Cash is up 398%.

Yet, analysts expect Bitcoin Cash’s bullish trajectory to continue, with L1 or Nothing anticipating a move toward $11K this market cycle. The analyst noted a macro trend line resistance break out and used the Fibonacci Retracement tool to predict how far it could go.

Meanwhile, Mr Kun noted the same macro trendline resistance breakout and speculated, “You will soon see a price of $3000.”

However, Bitcoin Cash is not the only crypto anticipated to outperform the market leader in the coming months. Another hot contender is Bitcoin Minetrix, a trending presale that has raised nearly $13 million.

Revolutionary Stake-to-Mine Protocol Bitcoin Minetrix is Backed to Explode

Experience the next generation of Bitcoin mining with the new Bitcoin Minetrix platform.

“Earn Bitcoin and see massive capital gains by buying and staking $BTCMTX,” Said ClayBro in a recent YouTube video.

Meanwhile, Jacob Bury speculated the project could 100x after its presale.

Adding to the excitement, top media outlets like Bitcoin Magazine, Cointelegraph, Business Insider, BeInCrypto, and many others have already featured the project.

Bitcoin Minetrix’s early success stems from its revolutionary use case, ushering in a novel version of cloud mining built around ease-of-use decentralization, and transparency.

Users simply stake $BTCMTX for mining credits, which they can burn to earn a share of the cloud mining pool rewards.

This simplistic concept makes Bitcoin mining accessible to the masses, something previously unheard of. What’s more, the decentralized and transparent nature of $BTCMTX negates the risk of cloud mining scams, which have historically suppressed the industry’s potential.

In addition to real BTC rewards, stakers will receive supplementary $BTCMTX. They can garner a 55% APY, but this will decrease as the staking pool grows.

Further incentivizing early adopters, the presale price will incrementally increase throughout the campaign, meaning the current price of $0.0144 is on a first-come, first-served basis.

Visit Bitcoin Minetrix Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t 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 CryptoPotato’s full disclaimer.

SPECIAL OFFER (Sponsored)

LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!





Source link

Leave a Comment