Bitcoin Price Prediction: As Google Allows BTC ETF Ads, This Bitcoin Derivative Nears $10 Million With Time Running Out Before A Price Hike

The Bitcoin price has climbed 2.59% in the last 24 hours to trade at $43,445 as of 05:40 a.m. EST on trading volume that soared 53% to $23 billion.

The rise in the Bitcoin price comes as Google revised its advertising guidelines to allow Bitcoin ETFs (exchange-traded funds) to promote their products on Monday, Jan. 29.

Major spot Bitcoin ETF issuers like BlackRock, VanEck, and Franklin Templeton have already started marketing their funds, with advertisements already starting to appear on Google.

Following the U.S. Securities and Exchange Commission’s (SEC) approval of 11 spot Bitcoin ETFs on January 10, the discussion around Bitcoin ETFs has continued to gain momentum.

Therefore, the decision by Google to allow advertising for Bitcoin ETFs provides them with a broader reach and exposure to a wider audience.

Crypto analysts are optimistic about the potential inflows to Bitcoin ETFs, citing Google’s high transaction processing capacity in searches, which is capable of raising awareness and attracting investors.

Bitcoin Price Trades On the Upper Boundary Of The Ascending Triangle

Bitcoin Price Chart Analysis Source: Tradingview.com
BTCUSD Chart Analysis Source: Tradingview.com

The Bitcoin price shows signs of a rebound from the lower boundary of the ascending triangle pattern at $38,542, which signals a continuation of the bullish trend.

Bitcoin is striving for a new all-time high after breaking through the $42,000 support zone and surpassing the closest resistance level at $43,400, potentially indicating the start of an upward price movement.

The Bitcoin price is on an upward trajectory, surpassing both the 50-day and 200-day simple moving averages (SMAs), further confirming the existing bullish sentiment.

The Relative Strength Index (RSI) is currently high at 70, indicating the market may be approaching overbought conditions.

Bitcoin Price Bullish As Investors Target The $49,000 Previous High

Bullish investors are riding a sustained upward trend on the upper boundary of the ascending triangle, anticipating movements above the boundary. 

A successful breach could see bulls aiming for a reclaim of the previous high at $49,000 towards the halving event.

However, a downside scenario might allow the bears to influence a price decline towards the critical support zone at $39,471 on the ascending triangle’s lower boundary.

While the Bitcoin price surges, investors are quickly buying Bitcoin Minetrix (BTCMTX) before a price hike in about 20 hours. 

Bitcoin Minetrix Presale Closing In On The $10.3 Million Target

Bitcoin Minetrix (BTCMTX) has garnered over $9.8 million in early funding, closing in on  its $10.3 million soft cap. You can participate in the presale by purchasing BTCMTX at a reduced rate of $0.0131 per token.

Bitcoin Minetrix is an innovative Bitcoin cloud mining platform that is on the verge of revolutionizing the cloud mining industry. The project drastically lowers the barrier to entry and the investment needed for startups and anyone looking to venture into cloud mining.

All you need to start mining with Bitcoin Minetrix is to purchase BTCMTX from the project’s official website.

The tokens will need to be staked in exchange for ‘gas’ rewards, which can then be burned, allowing you to claim a share of Bitcoin Minetrix’s cloud mining power.

The platform utilizes the stake-to-mine feature, granting you full control over your mining operations, even if you lack expertise. This feature eliminates the need for specialized knowledge.

Participate In The Presale, Stake, And Stand A Chance To Win $3000

The BTCMTX platform offers you a chance to earn passive income through staking. By staking your tokens now, you earn an impressive annual percentage yield (APY) of 67%. Over 618 million tokens have already been staked.

By participating in the staking process, you also stand a chance to win $3000 in the BTCMTX Minedrop Airdrop Competition. The competition has a prize pool of $30,000 to be shared among ten winners.

CryptoNews, a YouTube channel, has recently featured the Bitcoin Minetrix project. Host Ari explains why he believes the project is the best way to go for investors interested in Bitcoin cloud mining. He also emphasizes that participating in the project as an early investor could be an opportunity for substantial benefits post-launch.

To buy BTCMTX tokens, visit the BTCMTX official website, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.

Related News

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