Securities and Exchange Commission (SEC) finally approved the BTC spot ETFs on January 10th after almost 15 years of waiting and multiple failed applications.
The experts predicted that this will spark a bull rally across the whole crypto market, and those predictions have hit the bullseye.
Every major crypto is rallying with ETH Classic (ETC) at the front with over 50% rise in the last 24 hours and 50% in the last week. Ethereum (ETH) is also riding the bulls with an 18% price bump over the last week.
However, experts suggest that this might be the worst time to accumulate them due to the high prices, and suggest Bitcoin Minetrix ($BTCMTX) because of the low presale price and 100X potential once it hits the market.
Let’s check out the details.
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Why Are Ethereum and ETH Classic Rising and Will the Price Retract Soon
The recent rise in Ethereum (ETH) and Ethereum Classic (ETC) prices can be attributed to several factors, most notably the Bitcoin Spot ETF approval by the U.S. Securities and Exchange Commission (SEC).
Initially, there was confusion and market excitement due to a fake post from the SEC’s X account announcing the approval, which was later clarified by Gary Gensler, the chair of the SEC, as unauthorized.
Despite the initial fake news, the SEC did eventually approve Grayscale Investments’ Bitcoin spot ETF application.
This approval seemed to have a more pronounced effect on altcoins than on Bitcoin. While Bitcoin’s price saw a modest increase, briefly reaching around $47,000, Ethereum experienced a more substantial rise of about 10% and was trading above $2,600, marking its highest point in 20 months since May.
Even more impressive was the performance of Ethereum Classic, which saw a 50% increase in its price. Its trading volume also soared by 343%, reaching $2.5 billion.
This spike in both price and trading volume suggests further potential growth, with its market capitalization crossing the $4.5 billion mark.
However, amidst this bullish sentiment, some industry experts caution against purchasing these assets at their current high prices.
They predict that these heightened values, especially post the BTC ETF approval hype, are likely to retract.
As an alternative, they suggest considering new derivatives like Bitcoin Minetrix, which aims to democratize the mining industry. The industry is widely accepting this new project, which is evident in the $8M funding.
Bitcoin Minetrix Presale Explodes to Over $8M – New Era in Bitcoin Mining
The BTC ETF approval also had a massive impact on the presale market. The new BTC derivative quickly surpassed over $8 million in funding when the SEC announced the approval.
The presale’s strategic price increments of 10% at each stage have also catalyzed early investments, contributing to the growing popularity of the project.
Bitcoin Minetrix adheres to the ERC-20 standard and offers a thoughtful distribution of its 4 billion token supply: 42.5% reserved for the presale, 35% for marketing, 12.5% for the crucial staking mechanism, and 10% for community-centric projects.
The innovative approach of Bitcoin Minetrix in its staking rewards system is one of the reasons for its exponential growth.
It uniquely offers mining power rather than direct $BTCMTX tokens, reinventing the traditional staking model and presenting a lucrative opportunity for investors seeking both staking benefits and participation in the transformative world of Bitcoin mining.
The project’s $BTCMTX token, currently priced at an attractive $0.0128, is selling out sooner than expected, so we have to warn you to act fast if you want to get a chance at the predicted 100X gains.
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Here’s How Bitcoin Minetrix’s Stake-to-Mine Mechanism Changes the Mining Industry
Okay, now you’re aware of the presale success that BTCMTX had in the last two months, but you might be wondering where that investor trust comes from.
Well, the main reason is the groundbreaking Stake-to-Mine model, which offers a simplified and accessible approach to Bitcoin mining.
Unlike traditional mining methods that require costly hardware and technical know-how, Bitcoin Minetrix democratizes the process.
By staking $BTCMTX tokens, investors gain access to cloud computing resources, enabling them to participate in Bitcoin mining effortlessly. This unique approach not only makes mining more accessible but also addresses the challenges and costs associated with conventional mining methods.
What sets Bitcoin Minetrix apart is its transparent and decentralized system. All mining operations and credit allocations are handled on-chain, ensuring transparency and security.
This strategy is a welcome change from the notorious scams in third-party cloud mining services, offering a more reliable and user-centric approach.
As Bitcoin Minetrix gears up for its official launch, the excitement among investors continues to build.
The combination of innovative mining solutions, high staking APY, and a well-structured token distribution makes Bitcoin Minetrix a standout choice for those seeking to dive into the world of Bitcoin mining without the traditional barriers.
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Conclusion
The BTC ETF approval came sooner than expected, and it triggered a significant market upswing, affecting altcoins even more than BTC itself.
Ethereum and ETH Classic surged the most, and they will continue on their trajectory for the time being. However, they’re now out of reach for any significant profits like 10X or more.
If that’s what you’re looking for, Bitcoin Minetrix might be a better option. But, don’t wait for too long, as BTCMTX is selling out much faster than expected.
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