Connect with us
  • tg

Cryptocurrency

Bitcoin Price Surges Past $50k as Bitcoin Minetrix ICO Approaches $11m

letizo News

Published

on

Bitcoin’s (BTC) price has surged past $50,000 for the first time since December 2021, boosting optimism around the future of the world’s largest cryptocurrency.

Crypto bulls are cheering the new high, citing institutional adoption and the upcoming halving as drivers of the latest rally.

With presale projects like Bitcoin Minetrix (BTCMTX) also nearing $11 million raised, it’s clear there is still a massive appetite for crypto projects with strong tokenomics and real utility.

Bitcoin Rallies Past $50k as Halving Fuels Mining Frenzy

Bitcoin’s return above the $50,000 level represents a dramatic turnaround from its lows below $25,000 seen in September.

While some analysts point to improving macro conditions as a driver of Bitcoin’s surge, others consider the upcoming halving in April the primary catalyst.

The halving will cut mining rewards in half, enhancing the scarcity of newly-created Bitcoins.

According to the laws of supply and demand, assuming demand remains constant, decreasing the supply of new Bitcoins entering circulation should put upward pressure on price.

Unsurprisingly, this possibility has boosted the share prices of publicly traded crypto mining companies, which stand to benefit from rising Bitcoin prices.

Major mining stocks like RIOT and MARA have seen their share prices rise over 50% in the past week alone.

With the halving fast approaching, mining stocks seem poised to continue rallying if Bitcoin maintains its upward momentum.

Bitcoin ETF Demand Outpaces Crypto Miners By 10x

While the upcoming halving has fueled excitement around Bitcoin mining stocks, another major driver of BTC’s price surge is the huge institutional demand from recently launched spot ETFs.

These ETFs have seen enormous inflows, gobbling up Bitcoin supply faster than miners can produce.

Spot Bitcoin ETFs scooped up over 10,000 BTC yesterday – worth more than $493 million.

Compared to the 1,059 newly minted BTC worth $51 million generated by miners on the same day, the appetite from institutional investors has significantly outpaced supply.

With major funds like BlackRock and Fidelity leading the ETF charge, this trend is likely to continue in the short term.

As long as inflows continue exceeding production, the fundamentals are aligned for further upside in the BTC price.

Some prominent analysts, including Adam Back, even believe Bitcoin could hit $100,000 before the next “halvening.”

New Stake-to-Mine Project Bitcoin Minetrix Approaches $11m Milestone as Hype Builds

Amid the excitement around Bitcoin’s break of $50,000, a new crypto project is gaining attention.

Bitcoin Minetrix, a tokenized cloud mining platform, is approaching $11 million raised in its presale initial coin offering (ICO).

The project aims to provide everyday crypto enthusiasts with a simple way to earn Bitcoin through cloud mining without the risks of third-party providers.

Users can purchase and stake BTCMTX tokens to earn credits, which are then burned to gain Bitcoin mining power.

This model, titled “Stake-to-Earn,” removes dependence on external mining companies.

With Bitcoin’s supply rate set to be cut in half soon, increasing the mining difficulty, Bitcoin Minetrix seems well-positioned to capitalize on potential bullish trends.

Bitcoin Minetrix’s presale has attracted significant interest, raising over $10.7 million so far from retail investors.

The current price of BTCMTX is set at $0.0134 – although this will rise in two days once the next stage begins.

Once Bitcoin Minetrix’s presale ends, the development team intends to list BTCMTX on a selection of well-known exchanges.

Members of Bitcoin Minetrix’s Telegram community believe these listings could be the key to colossal price growth for BTCMTX.

Overall, as seen with mining stocks, substantial enthusiasm surrounds assets tied to Bitcoin production.

If Bitcoin Minetrix can deliver on its promising mining concept, its presale looks set for a strong finish.

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)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Cryptocurrency

Should Ripple’s XRP Be Part of the US Digital Asset Reserve? Community Debates

letizo News

Published

on

President Donald Trump splashed the crypto waters earlier this week when he signed an executive order focused on digital assets to be potentially included in the US reserves.

Although it’s not officially approved yet, the decision has sparked substantial debates within the community on which cryptocurrencies should be included or whether it should just be bitcoin.

The Debate

Ever since Trump changed his tune on the crypto industry last year and made dozens of optimistic promises during his election campaign, the talk of the town has been whether he will stay true to his word and establish a US BTC reserve.

The first portion of that plan would be for the US government to stop selling the seized BTC from illegal operations. However, Trump went further on Thursday by signing an executive order titled ‘Strengthening American Leadership in Digital Financial Technologies’ to explore the inclusion of various cryptocurrencies into the US reserve.

This sent shockwaves throughout the community, especially those favoring many US-based projects and their underlying assets, such as SOL, XRP, and ADA. Many believe that companies like Ripple are actually working against BTC in this manner by ‘throwing around millions at politicians, desperately trying to derail it.’

Brad Garlinghouse, Ripple’s CEO, refuted the accusations, saying their efforts ‘are actually increasing the likelihood of a crypto strategic reserve (which includes bitcoin) happening.’

No XRP, Please

Messari’s founder, Ryan Selkis, joined the anti-XRP front, indicating that the Ripple incentive is ‘toxic.’ He went further, described the project’s native token as a ‘piece of s**t,’ and said it would be better to have no crypto strategic reserve than to put XRP in it. Selkis concluded that BTC is the only exception and that it makes sense to be the sole crypto rep in that reserve.

In contrast, Cardano’s Charles Hoskinson, who has been collaborating with the Ripple team for a while now, said there’s no need to ‘base XRP’ and claimed that the strategic reserve will start as bitcoin-only.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Quick Hit: 3 Exciting Expert Bitcoin Price Predictions for 2025

letizo News

Published

on

Bitcoin’s price has been on a spectacular run for the past few months, going from under $70,000 to almost $110,000 to break its previous all-time high and mark a new one, well within six-digit territory.

The micro-scale has also turned positive as the asset recovered its 30-day percentage gain or loss to above 6% at the end of the week. The world’s most prominent cryptocurrency is trading at nearly double its price six months ago.

Furthermore, it can be had or sold for more than 100% of its exchange rate 12 months ago.

BTC Experts Remain Overwhelmingly Bullish

But, most Bitcoin experts surveying the market conditions for blockchain assets today are very bullish on the currency’s prospects for another extended leg up the chart over the coming months in 2025.

Some of the main reasons for the strong forward sentiment:

  • First, there’s Donald Trump’s reelection, a new crypto-friendly SEC chair, and plans in Congress to appropriate US tax dollars to buy and hold Bitcoin in a strategic national reserve.
  • Then there’s Bitcoin’s enormous demand, miner network participation, powerful use cases, limited currency supply, and the bullish phase of its four-year supply cycle.
  • Finally, there’s the rapidly expanding US dollar supply under a low interest rate regime, four years of record-setting US budget deficits ahead, and economic and geopolitical uncertainty.

Here are three recent Bitcoin price predictions from cryptocurrency experts:

2025 Expert Bitcoin Price Predictions

Aquinas Wealth Advisors: $130,000

According to Christopher McMahon, CEO of Aquinas Wealth Advisors and author of “Faithful Finances,” Bitcoin’s price will top $130,000 this year. McMahon’s is the lowest of the three forward targets for BTC in 2025. He argues that institutional adoption of cryptocurrencies will make the numbers go up.

Motley Fool: $200,000

According to a cryptocurrency analyst at the popular investment website Motley Fool, $200,000 BTC is “not only possible but also… fairly probable.” He’s tracking Bitcoin’s steep historical trend line, new investors, especially globally, as well as governments and companies joining the blockchain race.

BlackRock: $700,000

Meanwhile, of all current expert Bitcoin price predictions, BlackRock CEO Larry Fink’s stands out most. The Wall Street executive warns Bitcoin’s price could rocket to $700,000 this year. The rocket fuel? Fink argues his math works out if a number of large hedge funds begin to allocate 2% to 5% of their holdings to BTC.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Bitcoin (BTC) Stable at $105K, Avalanche (AVAX) Gains 6% Daily (Weekend Watch)

letizo News

Published

on

Bitcoin’s price movements over the weekend have been quite underwhelming, but the asset has remained stable at around $105,000.

The altcoins are with minor gains on a daily scale but the weekend charts show a different picture for many of them.

BTC Holds Steady at $105K

The largest cryptocurrency went through a spectacular ride at the beginning of the business week. It began with a nosedive on Monday morning from $106,000 to under $100,000 before it exploded to a new all-time high of over $109,000. More volatility ensued before, during, and after Donald Trump’s inauguration speech as he failed to mention crypto.

Following a price slump to $101,000, the bulls stepped up and didn’t allow a price slump into five-digit territory. In fact, BTC started to recover some ground and spiked to $107,000 a few days later. It failed there and was pushed south by three grand on Saturday morning but has recovered from that decline and now sits about a grand higher with little to no movement over the past 12 hours.

Its market capitalization has climbed to $2.080 trillion on CoinGecko, while its dominance over the alts stands tall at 55.4%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

AVAX on the Rise

The largest altcoins have recovered some of the losses charted yesterday. Ethereum has bounced above $3,300 after a 1.3% daily increase, while XRP is above $3.1 following a similar increase. BNB, DOGE, and ADA stand in the same bracket.

Solana and Chainlink have gained around 3% each and now trade at $255 and $25, respectively. Avalanche has emerged as the top performer from the larger-cap alts, surging by 6% to $37.5.

The biggest gainers from the top 100 alts are XCN (91%), OM (30%), TAO (13%), and TRUMP (10%).

The total crypto market cap has recovered over $60 billion overnight and is up to $3.750 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved