The Bitcoin Cash (BCH) community is holding its collective breath as the token – down 7.71% – tests the 20DMA support line. The morose mood that accompanies the market correction is embellished by a decline in trading volume, slipping 48.19% to $246k. Yet, hodlers are not disheartened and the overall zeitgeist is optimism.
Half-full glasses aside, the BCH market is going through an intriguing phase. Should the 20DMA supply sufficient support, bullish traders could be looking at a significant price hike. Historically though, the $225 price level has proven to be a consistent support line. Yet, if it were to be breached, the price could tumble precipitously.
On the technical front, the indicators are somewhat contradictory. The RSI, despite cooling off recently, still flashes a bearish divergence. The MACD, however, post the golden cross of June 24, still exudes bullish signals.
In this critical position, BCH sees potential for an upward breakout towards $275 or a downward shift towards $190, presenting an almost balanced risk:reward ratio. For those who’ve sounded the death knell for BCH, it’s wise to note that it isn’t going to zero any time soon.
However, in the financially prudent world of crypto investment, shifting profits into potentially superior returns is commonplace. Enter Bitcoin Minetrix, an emerging Bitcoin cloud mining presale that is garnering significant attention.
The Bitcoin Minetrix model is set to disrupt the BTC mining landscape that has been predominated by ‘colossal corporations’. Their Stake-to-Mine model leverages the power of staking tokens, which yields mining credits. Hence, with merely a token-staking investment, everyone has access to efficient, secure and sustainable BTC mining.
Seminal to Bitcoin Minetrix’s appeal is the emphasis on security and transparency. Investors can un-stake their tokens as per their comfort, assuaging fears of a crypto scam. The absence of hidden clauses further underscores their transparency.
Nonetheless, many potential investors tend to be wary of new market entrants given the sector’s past susceptibility to scams. Anticipating such concerns, Bitcoin Minetrix had their smart contract rigorously audited by Coinsult, a reputable blockchain security entity, earning a clean bill of health.
With a minimum investment of just $10, Bitcoin Minetrix represents a paradigm shift – a democratization of BTC mining. As critics of BCH highlight its troubles, holders may find solace in exploring the potential of Bitcoin Minetrix’s presale. In a crypto world increasingly veering towards Bitcoin derivatives, playing both sides might just be the smarter move.
One important note to keep in mind: crypto investment is a high-risk enterprise. Therefore, exercising due diligence is always recommended.
Source: Cryptonews
