Before the SEC made their decision to approve 11 Bitcoin ETF applications from various Wall Street asset managers, we speculated how valuable this approval could be. One thing we discussed was how the crypto market would be legitimized in the eyes of the mainstream. Well, yesterday, we got our first insight into just how valuable that could be for Bitcoin (BTC) and the market as a whole.
In 2018, Google, along with Facebook, decided to ban cryptocurrency-related advertisements. This was a big blow to the market as Google is the best advertising space in the world for attracting new customers. Late last week some experts heard rumblings that a policy change was coming for Google Ads.
That rumor turned out to be true as on Monday, we were able to see crypto advertisements on the search engine for the first time in 5 years as BlackRock and VanEck have started advertising their spot Bitcoin ETFs. We will get into how this could spark the price of BTC later, but first, we want to focus on another project that could actually help BTC pump as well as its own price.
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Bitcoin Minetrix- Set to Explode in 2024 and Help Bitcoin Do the Same
Crypto is a notoriously volatile market, it is normal for a new risk market to be like this. Bitcoin, while still prone to some volatility, is the most consistent of the currencies and the spot ETFs will just reinforce this. So when we say something like Bitcoin Minetrix (BTCMTX) will help Bitcoin reach an all-time high, we do not say it lightly.
The reason for this is the project tackles an issue that has plagued not only Bitcoin but the crypto market as a whole. That issue is mining crypto. As even the dogs on the streets know, regulation will eventually come for the crypto-mining process as it just uses too much energy as it currently stands. The more mainstream crypto becomes, the more likely this regulation is.
Bitcoin, of course, is the most popular cryptocurrency, which means that it is mined the most and thus uses the most energy. Readers will be well aware of the criticism it faces from outside parties, but what they may not be as familiar with is that the mining process for BTC is also heavily criticized by those within crypto circles.
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🟢📈💰 Bitcoin Minetrix (BTCMTX) shines amidst market turmoil, raising $9.7M in presale! No regulatory woes & high staking yields. But remember, research before you leap. 🚀🔍 #Bitcoin #BTCMTX #CryptoInvestinghttps://t.co/4PaYKtTcjG pic.twitter.com/w3VLCO68eI
— News Sentinel Alpha AI (@SentinelNewsAI) January 29, 2024
The fact of the matter is that Bitcoin has lost its principles. The point of crypto is to be a counter to traditional banking, the everyday individuals are supposed to have just as much power as the very rich. Bitcoin’s popularity now means that mining almost solely takes place at an industrial level in massive data centers. This excludes the majority of the crypto community from being able to afford to partake in mining.
Of course, this has been a problem for a long time now and there have been attempts to counter it. Cloud mining, in theory, is a great idea, it involves individuals entering into cash contracts with mining companies, and in return, they get to mine BTC. Unfortunately, in practice, this has not worked out well.
The greedy mining companies now charge massive deposits that make mining almost not worthwhile and even after that, they also demand a share of the mining yields as part of the price. It gets even worse, as the cloud mining sector is filled with scam artists who lure people in with initial success, then demand higher fees and disappear.
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What Bitcoin Minetrix has realized is that cloud mining is a good idea at its core it is just missing one other feature; staking. As avid crypto followers will know, staking has become a crucial part of most new projects. With Bitcoin Minetrix, it has two functions.
Investors can stake their BTCMTX tokens and earn a very decent return APY, which currently stands at 67%. Over 600 million BTCMTC tokens have already been staked, so investors know that the project should have a strong foundation that leaves them with lots of potential future rewards.
There is another option after you stake your tokens, and that is to exchange them for mining credits. These secondary tokens can then be burnt in exchange for mining time or a share of the yields. This is a greener and cheaper way to mine Bitcoin, so you can see why we expect it to have such a big impact in 2024.
We are not the only ones either, as the presale is closing in on $10 million raised. Potential investors will need to act fast to get the best price as the hard cap is fast coming into view. As we expect this token to also help the price of BTC, it makes it a prime candidate to be one of the best-performing tokens this year.
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Google Ads Could Be About to Kickstart a Very Good Phase for BTC
As we can see from Bitcoin’s price chart from the last 7 days, the market’s number one token has recovered from its scare after the ETF approvals. Some commentators predicted that after all the ETF hype, a lot of profit-taking would cause the price of BTC to plummet.
While it did lose some value, it recovered very quickly, and most of the fear-mongering turned out to be exaggerated. This has been the new Bitcoin we have known since last year that seems much more resistant to outside factors than in years gone by. Now, it is up by over 11% in the last 7 days and almost 3% today alone.
This is likely because of the Google Ads news and we expect this price to continue to pump. Google might just be the first domino to fall for Bitcoin as we expect many anti-crypto policies to soften in the mainstream, mostly thanks to BlackRock’s significant power. With the halving event just around the corner, too this could spark a BTC price surge that might continue deep in 2024.
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Conclusion
As we have become accustomed to since the last quarter of 2023, the news around Bitcoin seems to be very positive. Bitcoin Minetrix is a very interesting project to keep an eye on as it may develop a symbiotic relationship with the biggest cryptocurrency that should help both reach significant highs. It is definitely worth getting involved at such an affordable presale price.
