Is It Too Late To Buy Bitcoin? 2 Bitcoin Alternatives That Could Explode

By BeInCrypto November 10, 2023 In Bitcoin, Mining, Staking

With Bitcoin (BTC) pumping to $36,500, many market participants are worried they may have missed the opportunity to buy in low. This begs two questions: How far will Bitcoin go? And will there be a pullback first?

Meanwhile, other Bitcoin alternatives could prove better investments, with their lower market caps presenting more room for growth. The two best alternatives are Bitcoin ETF Token and Bitcoin Minetrix.

Both projects are currently undergoing presales and capitalize on different but equally compelling aspects of Bitcoin.

Trend Continuation Expected for Bitcoin as It Breaks Above Fibonacci Golden Zone

With Bitcoin already trading at more than a 100% premium from its bear market lows, some market participants are hoping for a second chance at buying Bitcoin cheaply.

However, the price has recently broken the Fibonacci retracement Golden Zone to the upside. This is a strong uptrend indication, making a higher-time frame pullback unlikely.

With that in mind, we must understand Bitcoin’s price potential and whether it is still a good buy at its current price.

While there are varying predictions on Bitcoin’s price potential, we can gain a high-level understanding of what is possible through the predictions of prominent institutions.

Standard Chartered believes that Bitcoin could reach $120K by 2024. This would equate to just over a 3x from its current price. Meanwhile, JPMorgan holds a similar outlook.

Interestingly, these predictions align with the upcoming Bitcoin halving date, average bull market length, and the levels provided by the Fibonacci tool.

The Bitcoin halving is set to occur in April 2024, and the average bull run lasts between 12–18 months.

What’s more, the Fibonacci 2.6 level is at $155,000, which matches the predictions of Standard Chartered and JPMorgan.

If Bitcoin does peak around $155,000, this provides just over 4x gains from its current price. However, those who bought in at the $15,500 bear market lows of would have made closer to 10x profit.

An alternative solution would be buying Bitcoin-related projects with significantly more upside potential. While these projects tend to be higher risk, they also perform better when market sentiment is bullish.

Newest Bitcoin Alternative Bitcoin ETF Token

The reason that Bitcoin is pumping so much recently is the unprecedented Bitcoin spot ETF applications led by the world’s largest financial institutions like BlackRock, Citadel, and Fidelity. These ETFs are expected to be approved in January and will see up to $1 trillion in new liquidity enter the crypto market.

With this in mind, a new trending presale is harnessing this trend and rewarding its community in the process. It is called Bitcoin ETF Token and boasts cornerstone stake-to-earn and burn mechanisms.

The staking mechanism provides a 1,954% annual percentage yield. This could enable investors to compound their investments quickly, but they must act fast because the yield will decrease as the staking pool size grows.

It also features a burn mechanism that destroys 5% of its total supply at five key Bitcoin ETF events. This will create scarcity and FOMO when hype and euphoria are highest, leading potentially to upside potential.

The project also focuses on community, offering an aggregated news section on its website that updates readers on the latest ETF-related developments.

Investors can buy it for $0.005.

Visit Bitcoin ETF Token Presale

Bitcoin Minetrix Moves Mining Toward Mass Adoption and Raises $3.6 Million

Bitcoin Minetrix is a new project enabling users to cloud mine Bitcoin by staking BTCMTX on its Ethereum-based platform.

The project redefines Bitcoin mining, making it effortless for anyone to get started. Users only require an Ethereum-compatible wallet (like MetaMask) and BTCMTX tokens. Unlike traditional Bitcoin mining, expensive mining hardware, technical expertise, or overhead costs are not required.

Moreover, the project’s decentralized and transparent BTCMTX token eradicates the risk of cloud mining scams, which have become prevalent in the mining industry.

Users get started by staking BTCMTX and unlock mining hashpower in return, translating to free Bitcoin.

BTCMTX’s central role in this operation and the value that Bitcoin Minetrix provides to users could result in tremendous demand potential. Additionally, since rewards are allocated in mining hashpower, sell pressure on the BTCMTX token will be minimal.

In other words, Bitcoin Minetrix boasts market-leading tokenomics while also featuring a disruptive use case that solves many Bitcoin mining issues.

Currently, the project is in the presale, having raised $3.6 million in three weeks. Users can buy it today for $0.0115.

Visit Bitcoin Minetrix Presale

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Published on

BeInCrypto

View the full article

You may also like