Bitcoin Cash and Bitcoin Minetrix Surge Amidst Crypto Market Momentum

Bitcoin Cash has surged 27% to $616 this week, outperforming the market. Analysts predict further gains due to its halving in two days, larger block size, and bullish trend line breakout. Meanwhile, Bitcoin Minetrix, a new ICO, is gaining momentum with a $13 million raise. Its revolutionary stake-to-mine protocol allows users to earn BTC and BTCMTX, attracting attention from top media outlets.

Bitcoin Cash and Bitcoin Minetrix Surge Amidst Crypto Market Momentum

Bitcoin Cash Outperforms the Market, Poised for Further Gains

Bitcoin Cash (BCH), a leading Bitcoin fork, has emerged as a standout performer this week, surging by 27% and reaching a high of $646 before settling at $616. Analysts anticipate further gains in the pipeline, citing the upcoming halving event as a catalyst for continued upward momentum.

With a market capitalization of $12.1 billion and a 24-hour trading volume of $1.2 billion, Bitcoin Cash's price action has garnered attention. Yesterday, its volume surged by 281% compared to Monday, signaling a wave of interest ahead of the halving, which is scheduled to occur in two days.

Market commentators have highlighted Bitcoin Cash's potential as a medium of exchange and store of value, citing its larger block size compared to Bitcoin. This allows for faster and cheaper transactions, making it more suitable for everyday use.

Bullish Sentiment Supports Bitcoin Cash's Trajectory

Bitcoin Cash has outperformed Bitcoin this year, with gains of 398% compared to Bitcoin's 138%. Analysts believe that this bullish trajectory is poised to continue, with L1 or Nothing predicting a move towards $11K in the current market cycle. The analyst identified a macro trend line resistance breakout and utilized the Fibonacci Retracement tool to forecast its potential growth.

Additionally, Mr Kun pointed to the same macro trendline resistance breakout and speculated that a price of $3000 could be imminent.

Bitcoin Minetrix Emerges as a Contender

Beyond Bitcoin Cash, another cryptocurrency, Bitcoin Minetrix (BTCMTX), has garnered substantial attention during its presale, raising close to $13 million. The project offers a revolutionary stake-to-mine protocol that is designed to make Bitcoin mining more accessible and transparent.

Users can stake $BTCMTX to earn mining credits, which can then be used to claim a share of the cloud mining pool rewards. This novel concept simplifies Bitcoin mining and eliminates the risks associated with traditional cloud mining scams.

Optimism Surrounds Bitcoin Minetrix's Presale

Bitcoin Minetrix's early success has attracted significant media coverage from reputable outlets such as Bitcoin Magazine, Cointelegraph, and Business Insider. Influencers like ClayBro and Jacob Bury have expressed bullish sentiments, predicting substantial gains after the presale concludes.

The project's unique value proposition, combined with a 55% APY for stakers, has incentivized early adopters. The presale price of $0.0144 is expected to increase gradually throughout the campaign, creating a first-come, first-served opportunity for investors.

Disclaimer

Readers are advised to exercise caution and conduct thorough research before investing in any cryptocurrency. The information presented in this article should not be construed as financial advice.