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Bitcoin Cash’s surge mirrors broader market trends, while Bitcoin Minetrix gathers momentum amidst pre-halving anticipation.
Despite a broader market chop, Bitcoin Cash has enjoyed significant bullish momentum, pumping 11% to $548 today.
Meanwhile, the new presale Bitcoin Minetrix surges past $12.6 million as experts anticipate spectacular gains following its exchange launch.
Bitcoin Cash soars as traders eye halving event
Bitcoin is less than four weeks away from its four-yearly halving event, which slashes the amount of new BTC entering the market by half. Each previous halving has ignited a supply shock, causing its price to soar.
However, Bitcoin is not the only asset nearing a halving. Bitcoin forks like Bitcoin Cash, Bitcoin Gold, and Bitcoin SV are also approaching theirs.
The Bitcoin Cash halving will occur on 4 April, cutting mining block rewards from 6.25 BCH to 3.125 BCH.
With excitement building, miners are deploying more power to amass BCH, which has seen its mining difficulty surge this week.
Mining difficulty measures the amount of computational power competing to mine blocks. A higher difficulty reflects a stronger appetite for BCH.
The pre-halving rise in difficulty suggests miners anticipate a higher price following the event.
Analysts also share this opinion, with LEO68 predicting Bitcoin Cash could see a 2-3x post-halving price increase.
He wrote, “BCH should be 2 or 3x higher after halving. If you look at the price of BCH now, it should be $1500.”
Meanwhile, Crypto Ranger anticipates a move toward $750, noting that BCH recently broke a critical resistance level, setting a bullish precedent for its mid-term trajectory.
The analyst also targets its ATH of $1,658, indicating further potential should it break $750.
However, TradingView analyst Weslad suggests BCH could see even more resounding gains.
According to Weslad, Bitcoin Cash’s ATH is the initial target; following this, it could continue toward $3K, a 450% gain from its current price.
The analyst explained, “BCHUSDT is displaying a potential rounding bottom, suggesting the formation of a cup and handle pattern upon price testing the neckline area.”
He continued, “Breaking above the neckline will confirm the final setup target, as indicated on the chart.”
Indeed, Bitcoin Cash’s market sentiment is overarchingly bullish, but other Bitcoin-related projects are also enjoying immense momentum.
One is Bitcoin Minetrix, a trending presale that has raised over $12.6 million so far.
Tokenized cloud mining provider Bitcoin Minetrix raises $12.6M
Step inside a new paradigm of effortless Bitcoin mining with Bitcoin Minetrix, the hottest presale on the market.
Enabling seamless and secure cloud mining, Bitcoin Minetrix has raised over $12.6 million and received unwavering interest from experts.
In a recent YouTube video, analyst Jacob Bury speculated the project could 100x. Meanwhile, prominent media outlets like Cryptox, Bitcoin Magazine, BeInCrypto, and Yahoo Finance have all featured it.
The project works by users staking $BTCMTX tokens for Bitcoin mining credits; these are non-transferable ERC-20 tokens that can be burned in exchange for cloud mining power.
This simple yet sophisticated concept revolutionizes Bitcoin, tokenizing mining power for ubiquitous accessibility.
Given that the halving is one month away and the platform pays real BTC rewards, it’s no surprise that the presale is exploding.
But in a bid to increase adoption, Bitcoin Minetrix will subsidize BTC rewards with $BTCMTX tokens. Currently, stakers can garner a 55% APY, but this will decrease as the staking pool grows.
Further incentivizing early buyers, the Bitcoin Minetrix presale price will incrementally increase throughout the event. The current price is $0.0143, but the next uptick will come in three days or when the presale hits $13.6 million.
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