Will Bitcoin continue to rise? Project token to democratize mining attracts attention

During the writing of this article, the dollar price of Bitcoin had appreciated by more than 140% in the year. Although the most famous cryptocurrency is not yet back to the peak of its value, which it reached at the end of 2021, its performance as an investment is leagues away from that of the crypto winter of 2022.

Despite the great appreciation it has already accumulated in 2023, it is possible that Bitcoin will continue to appreciate for some time. Two factors in particular are causing experts to predict rising Bitcoin prices in the near future. One of them is the next cryptocurrency halving, which will take place in 2024. The other is the high probability of authorization in the near future for ETFs to trade Bitcoin on the spot market.

O halving do Bitcoin It is a phenomenon that happens approximately every 4 years and causes the speed at which new Bitcoins are created to drop by 50%. Thus, the relationship between Bitcoin supply and demand for this asset changes. In the past, a strong and lasting appreciation of the cryptocurrency came after the halving. The next Bitcoin halving is expected to take place in April next year.

Furthermore, observers of the crypto scene consider it likely that the agency that regulates the American securities market will reverse its years-long opposition to the operation of ETF funds in the Bitcoin spot market. If this happens, these funds should attract a large flow of money into Bitcoin trading. Therefore, the demand for cryptocurrency would increase, and, consequently, its value.

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The context of expectation of considerable appreciation of Bitcoin in 2024, which may or may not materialize, helps explain the interest that the pre-sale of $BTCMTX is generating. This is the utility token of the developing platform Bitcoin Minetrix. This project aims to democratize access to cloud mining. Access that should have even more value if Bitcoin’s upward trend continues.

As is already common knowledge in the cryptocurrency industry, Bitcoin mining tends to be an expensive process. After all, it requires reasonably high investments in equipment and infrastructure, relatively large amounts of energy and relatively rare technical knowledge.

To overcome this problem, it is possible to resort to a model called cloud mining. It allows anyone who wants the rewards corresponding to mining a cryptocurrency to rent what is called hash power. In other words, the cloud mining model consists of renting the processing capacity that the hardware uses to solve the algorithms for generating cryptocurrencies.

Such a model allows individuals and groups with relatively modest resources to access the benefits of cryptocurrency mining such as Bitcoin. According to the Bitcoin Minetrix team, the platform and its token will simplify common people’s access to cloud mining. In this way, they will contribute to the democratization of cloud mining and its benefits.

Furthermore, Bitcoin Minetrix and $BTCMTX can help overcome one of the major obstacles to the expansion of cloud mining, namely: the actions of unreliable companies that do not deliver on what they promise.

Those interested in bitcoin mining can purchase $BTCMTX tokens and stake them. This way, they obtain mining credits, which they can burn to obtain the resources to mine the corresponding amount of Bitcoin.

Furthermore, as the $BTCMTX team aims to get the token listed on decentralized exchanges shortly after its launch, it is possible that its holders could trade it for gains.

One of the advantages of Bitcoin Minetrix’s approach to cloud mining is the flexibility it provides. Instead of being locked into inflexible long-term contracts, platform users will be able to stake their tokens whenever they want and use the credits they obtain whenever they prefer.

Until bitcoin mining comes into operation through the platform, those staking with $BTCMTX tokens will receive more tokens of this crypto asset as a reward. This way, the amount of mining credits they can obtain at a time or the amount of $BTCMTX tokens they can trade will increase.

When this text was written, the Bitcoin Minetrix website estimated the yield from staking with $BTCMTX tokens at 115%, payable over 2 years. The pre-sale purchase of $BTCMTX can be made at https://bitcoinminetrix.com/pt. On this website, you can also consult the Bitcoin Minetrix whitepaper and a question and answer section about the development process.

O token $BTCMTX

The $BTCMTX token is based on the Ethereum network. Its total supply is 4 billion tokens. Of these, 1.7 billion (42.5% of the total supply) went to the pre-sale of $BTCMTX, which is ongoing.

In order to meet the platform’s marketing expenses, 1.4 billion tokens (35% of the total supply) were allocated to pay for them. Community rewards and staking remuneration received allocations of 600 million tokens (15% of the total supply) and 300 million tokens (7.5% of the total supply), respectively.

At the moment, it is possible acquire $BTCMTX with the cryptocurrencies Ether, Binance Coin and MATIC. However, only tokens purchased with Ether will be able to be staked during the ongoing pre-sale. This, in fact, has been a great success, as when this text was completed it had already raised just over US$5.3 million. The cryptocurrency was then on offer for 1.22 cents per token.

The price of $BTCMTX will increase as the pre-sale progresses. Therefore, it may be a good idea to purchase the asset soon, before its price increases again or the pre-sale is completed.

Conclusion

Bitcoin Minetrix is ​​a platform that offers a decentralized and tokenized solution for democratizing access to the advantages of cloud mining. The $BTCMTX token, in the pre-sale process, will play a central role in the functioning of this platform.

The expected continuation of Bitcoin’s appreciation trend in the near future could increase interest in cloud mining and BTCMTX, which could lead to an increase in its price. However, it is advisable that, before investing in this asset (or, in fact, any other), the interested party seeks to find out about it and realistically assess how well it fits into their risk acceptance profile and objectives.

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Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.