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Bitcoin price rose 2% in the last 24 hours. Deal for $65,994 As of 3:10 a.m. EST, trading volume was up 12% to $24.8 billion.
This is because Bitcoin transaction fees plummeted after reaching an all-time high of $128 on April 20. As of yesterday, the average fee for a medium priority Bitcoin transaction had fallen to $10.
The introduction of the Runes protocol to the Bitcoin network on the day of the halving initially led to a sharp rise in transaction fees, but this quickly normalized.
This protocol fundamentally changed the token creation dynamics of the Bitcoin network, making it easier for meme coins to thrive. This led to a significant increase in network activity and consequently a surge in transaction fees.
Bitcoin price rebounding above ascending triangle
Bitcoin price was in a consolidation channel, trading between $72,000 and $64,000. However, over the past two weeks, BTC has been trending downward and has found support around $60,000.
The support allowed the bulls to push the price higher and retest the $65,786 barrier. This has led to the token trading in an ascending triangle pattern, as the bulls aim to push the price above the upper limit of the triangle.
BTC is trading above its 50-day simple moving average (SMA), confirming the upside potential in the price. If momentum continues, Bitcoin could overcome its 200-day SMA, which has soared to $67,120, pushing Bitcoin’s price action much higher.
Additionally, the Relative Strength Index (RSI) is showing an upward trajectory towards the 61 to 70 overbought area. An upward move in RSI on the 4-hour chart indicates strong buying pressure and suggests the price is likely to move higher.
Bitcoin price prediction
Bitcoin price analysis shows that BTC is currently on an upward trajectory, crossing an ascending triangle pattern with a target of $72,000. RSI soaring into overbought territory shows continued optimism among investors, which is likely to push prices higher.
However, the 50-day SMA has crossed below the 200-day SMA, forming a dead cross at $67,550. The presence of a dead cross often means that a bearish trend may be emerging.
Meanwhile, with the price of Bitcoin surging, investors are moving to buy $BTCMTX with less than a week left before the pre-sale ends after raising $13.23 million.
Bitcoin Minetrix Offers Last Opportunity to Buy After $13 Million Raise
Bitcoin Minterix (BTCMTX) Deploys Ethereum smart contracts to provide easier entry into cloud mining, thereby providing higher returns to net investors. Investors can access cloud mining at minimal cost, thereby avoiding the complex and resource-intensive nature of the activity.
Exploring Cloud Mining #Bitcoin Metrics Provides a direct path to . #Cryptocurrency World: 🌐⚒️
✅ Simple approach for newcomers.
💰 Budget-friendly and requires no hardware setup.
🏠 No worries about space, noise, or temperature.
🔄 Smooth and hassle-free upgrade. pic.twitter.com/y1T9V2o6OS
— Bitcoin Minetrix (@bitcoinminetrix) April 21, 2024
The project’s pre-sale is extended until April 28 at 12:00 UTC. Billing will continue at 10:00 UTC on April 30th.
final step #Bitcoin Metrics Closing soon! 🎉#BTCMTX We provide reliable and easy cloud mining solutions. #Cryptocurrency user. 💰⚒️
What do you think is the impact these days? #Bitcoin halving will bring to cryptocurrency #Cloud Mining Industry in the near future? 🔄 pic.twitter.com/j7wzrFAyuj
— Bitcoin Minetrix (@bitcoinminetrix) April 21, 2024
The platform has a staking feature that provides annual returns. 53%. By staking $BTCMTX, you will automatically be credited with tradable ERC-20 token credits. Then, once the credits are burned, you will receive cloud mining credits representing your hash power.
According to Cryptonews, a cryptocurrency channel on YouTube, $BTCMTX is likely to surge 20x upon launch.
Meanwhile, investors have less than three days left to purchase $BTCMTX tokens at $0.0148. So, if you are interested, buy it now before the price increases.
To participate in the pre-sale: Visit the BTCMTX official website here. Exchange ETH or USDT to BTCMTX. You can also make direct purchases using your bank card.
Related news
A new cryptocurrency mining platform – Bitcoin Minetrix
- Thanks to Coinsult
- Decentralized, secure cloud mining
- Get free Bitcoin every day
- Native token currently in pre-sale – BTCMTX
- Staking Rewards – APY 50% or more
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