Bitcoin Price Bulls Retarget $40,000 While Traders’ Favorite Bitcoin Minetrix Soars Past $4m in its Stake to Mine ICO

cryptonews.com:

Thursday, November 16, 2023 – The Bitcoin price is retracing higher as bulls retarget $40,000, while switched-on crypto traders continue to place bets on new stake-to-mine Bitcoin alternative Bitcoin Minetrix as its ICO soars past $4 million.

After fake reports about an XRP ETF, followed by the not-unexpected news that the US Securities and Exchange Commission (SEC) has deferred a decision on the first spot Bitcoin ETF application it was considering, traders had plenty of excuses to book profits.

However, after slipping back towards $35k, Bitcoin is trading strongly higher at $37,422 today, up 4.2% in the past 24 hours. The leading cryptocurrency has put on 123% year-to-date gains, outperforming all other asset classes. It is little wonder market participants are eagerly anticipating even bigger gains when a spot Bitcoin ETF approval eventually does arrive.

There are less than 24 hours before $BTCMTX rolls into Phase 8 of its presale and the price of the token increases from $0.0116 to $0.0117.

However, with only $500k to go to hit the Phase 7 target of $4,683,971, the token could sell out before the next step up on the price ladder, so prospective buyers need to move quickly.

Something of a feeding frenzy has been in evidence in the market due to rising expectations that a spot Bitcoin ETF will be approved by the SEC.

Consequently, Bitcoin-related coins are in demand as alternative investment propositions offering exposure to the bull run.

Bitcoin Minetrix ($BTCMTX) is tokenizing the cloud mining of Bitcoin and it is a one-of-a-kind crypto asset, which is why $4 million has flowed torrent-like into its presale.

Built on the Ethereum blockchain, users of Bitcoin Minetrix will stake the $BTCMTX native token of the ecosystem and