Bitcoin has experienced severe volatility over the last hour, causing its price to plunge below $70k.
However, emerging presale crypto Bitcoin Minetrix is showing outsized strength, recently soaring past the $12.6 million mark.
Bitcoin Stumbles as Court Rules Against Coinbase in SEC Lawsuit
Volatility has struck the crypto market as the SEC scores a win against the industry’s leading exchange, Coinbase, in its ongoing lawsuit.
In a fresh news break, Reuters reported that a federal judge in Manhattan ruled that the SEC can pursue its case against Coinbase for the alleged sale of unregistered securities.
Coinbase filed a motion to dismiss, but this was only approved for one charge, with the SEC free to push forth with the others.
Bitcoin initially saw an explosive uptick as the news broke, but the momentum quickly shifted bearish, pushing its price to a daily low of $69.1K.
It has somewhat recovered since, currently trading at $69.7K.
Market analysts have weighed in, shunning the recent selloff and anticipating an uptrend continuation to follow.
“Everyone is panicking about the judgment against Coinbase. Trust me, it is a non-event and doesn’t impact crypto in the long term. This is a no-fud zone,” said Emperor BTC.
Meanwhile, Crypto Jelle believes the recent volatility fared as a shake-out, helping “reduce leverage in the system, preparing for a larger move ahead.”
In another recent post, Jelle illustrated his optimism for Bitcoin’s price, explaining that Bitcoin is just “three weeks away from its next halving event, after its strongest start of the cycle ever.”
He continued, “If patterns repeat, we’re about to embark on a moon mission. $100,000 Bitcoin is coming sooner than you think.”
Indeed, these expert opinions set a bullish precedent for Bitcoin. Still, the market leader is not without risk. Ali Martinez recently highlighted that Bitcoin faces stern resistance between $70,180 and $70,600.
Factoring in its recent volatility, this could indicate a troublesome near-term trajectory.
Regardless, some altcoins are continuing to advance unfazed. One is Bitcoin Minetrix, an uber-successful ICO that has raised over $12.6 million so far.
Trending Stake-to-Mine Bitcoin Minetrix Backed to 100X and Offers 55% APY
Ushering in the next generation of Bitcoin mining, the new Bitcoin Minetrix is one of the industry’s hottest contenders.
Having raised a staggering $12.6 million so far, it’s no secret that smart money and deep-pocketed whales are rushing in.
But this is for good reason. Through its flagship Stake-to-Mine mechanism, users can cloud mine Bitcoin effortlessly and securely.
It works by users staking $BTCMTX tokens in exchange for Bitcoin mining credits. They can then burn these credits for cloud mining power, translating to free BTC.
With $BTCMTX as a central component, its demand will directly correlate with the platform’s success, hinting at a bright future.
In a bid to bolster adoption, Bitcoin Minetrix will supplement BTC rewards with $BTCMTX tokens. Currently, the staking APY is 55%, but this will decrease as more tokens are staked.
Leading analysts are backing this revolutionary use case, with Jacob Bury dubbing it the “Next 100x cryptocurrency.”
The project has also been featured in heavyweight media outlets like Bitcoin Magazine, Cointelegraph, CryptoPotato, and BeInCrypto. This illustrates the project’s unparalleled ability to garner hype and attests to a bright future.
But those looking to buy must act fast. The Bitcoin Minetrix presale price will incrementally increase throughout the campaign, with the next uptick in just three days.
