Binance coin has turned red as BNB tumbles away from double-topped resistance, but with price heading south is Binance Coin about to crash? Find out in this BNB price analysis.<\/p>\n
Indeed, this downside move comes despite bullish developments on-chain for Binance Coin<\/a>, with yesterday witnessing the 26th BNB burn event<\/a> as more than 2m BNB tokens were burned (valued at $636M).<\/p>\n Unusual volume spotted on Binance $BNB<\/a> spot market. Price: $289.700 \u2014 GeniiAlert (@GeniiAlert) January 25, 2024<\/a><\/p>\n Eagle-eyed crypto bots on Twitter note that the downside move was triggered by a sudden influx of huge volume in the space of a minute \u2013 suggesting market manipulation by a big player.<\/p>\n <\/span> This comes after BNB price struggled to make significant inroads about descendant upper trendline resistance at $338 \u2013 triggering a failed consolidation above the 20DMA (which now stands at $305).<\/p>\n The loss of 20DMA support is a critical sign of weakening technical structure, with this key moving average having provided solid footing to upside price action for BNB throughout December and January.<\/p>\n BNB price is now stood at a concerning -4.20% divergence below the 20DMA, however, an ongoing defence of local support at $291 could save Binance Coin from complete breakdown.<\/p>\n Despite, the recent price tumble, the 200DMA remains ascendant, providing a bedrock of support at $242.<\/p>\n Meanwhile, the RSI indicator suggests that price has returned to a healthy valuation at current levels \u2013 reading at 43.96 \u2013 suggesting price action now has the capacity to push up once more.<\/p>\n This contrasts with the MACD, which is signalling bearish divergence and strong downside momentum at -3.7.<\/p>\n Overall, BNB price analysis reveals that Binance Coin is in critical position here, with technical structure weakening \u2013 all eyes are on support at $291 \u2013 which will make or break BNB price action on the short-timeframe.<\/p>\n To the upside, BNB price is targeting a move to $300 (a potential +6.25%).<\/p>\n While downside risk could see a tumble down to $264 (a possible -10.02%).<\/p>\n Therefore, BNB price analysis reveals a current risk: reward ratio of 0.22 on the short-time frame, a bad entry but certainly not going to crash just yet.<\/p>\n For this reason, prudent traders are shifting attention from Binance Coin to an emerging Bitcoin mining project as markets brace for the halving event in April.<\/p>\n <\/span>\n<\/p>\n Dive into the innovative world of\u00a0Bitcoin Minetrix\u00a0<\/a>and its pioneering stake-to-mine system \u2013 as the skyrocketing presale smashes +$9,247,382 raised \u2013 as Stage 21 draws to an end.<\/span><\/p>\n Offering an enticing 75% Staking APY, Bitcoin Minetrix provides a platform where users can buy, stake, and then\u00a0watch<\/a>\u00a0as the rewards start accumulating.<\/p>\n The true essence of passive income in the crypto world has never been this accessible.<\/p>\n #BitcoinMinetrix<\/a> attains another remarkable milestone!<\/p>\n Surpassing $9,200,000. pic.twitter.com\/Tlj6ACRT67<\/a><\/p>\n \u2014 Bitcoinminetrix (@bitcoinminetrix) January 25, 2024<\/a><\/p>\n With the Bitcoin Minetrix approach, gone are the days of heavy initial capital and navigating complex mining contracts.<\/p>\n <\/span> Bitcoin\u2019s\u00a0Hash Rate<\/a>\u00a0(a measure of the total amount of computational power directed at mining Bitcoin blocks) has surged to an incredible all-time high of 525 Exahashes per second (EH\/S).<\/p>\n This dramatic growth has been fuelled by a substantial increase in the scale of Marathon Digital and Riot Platforms\u2019 mining operations.<\/p>\n The world\u2019s largest Bitcoin miner \u2013 Marathon \u2013\u00a0reported that for Q3 2023<\/a>\u00a0it had an average hash rate of 14.2 EH\/s (a 500% growth YoY), around 4% of the overall network hash (mining around 1153 BTC per month, or, $42.2M USD).<\/p>\n Meanwhile Riot Platforms reported\u00a0a new record hash rate of 10.9 EH\/s<\/a>\u00a0(mining around 368 BTC per month, or, $13.3M USD), with Riot\u2019s operations expected to grow to 20.2 EH\/s by summer 2024.<\/p>\n But while the all-time high in Bitcoin network hash rate is healthy for Bitcoin network security, and clearly profitable for growing mining operations, it has also begun to lose sight of the original promise of Satoshi Nakamoto\u2019s decentralization.<\/p>\n Bitcoin mining in 2023 is the most centralized it has ever been in its short 15-year history.<\/p>\n <\/span> AntPool took the largest share at 83 blocks mined (29.123%), while second largest mining pool Foundry USA mined 76 blocks (26.667%).<\/p>\n This dwarfs the number of blocks mined by even third-place F2Pool (34 blocks mined, around 11.93%), highlighting the growing challenge of increased mining centralization.<\/p>\n This heightened network activity, and increased centralization of mining power has become clearly reflected in the consequent all-time high in the difficulty rate for mining Bitcoin.<\/p>\n Currently standing at 70,440,798,833,881 \u2013 it has never been harder for individual participants to engage in profitable Bitcoin mining.<\/p>\n This challenge of heightened network difficulty, fuelled by increased competition and centralization of mining power, has created the need for new solutions for the retail investor to participate in Bitcoin mining \u2013 both for network decentralization and preserving Bitcoin as a profitable activity for the individual.<\/p>\n Enter Bitcoin Minetrix, which was launched to deliver secure and transparent Bitcoin mining rewards for the retail investor through an innovative, decentralized Bitcoin cloud mining approach.<\/p>\n <\/span><\/p>\n Distinctive Edge in the Market:<\/strong>\u00a0In an industry filled with numerous cloud mining platforms, Bitcoin Minetrix carves a niche for itself. As the first-ever tokenized Bitcoin cloud mining initiative, it offers an automated system that\u2019s geared for cloud-based Bitcoin mining, setting a new standard for the industry. <\/span> Secure your position in this transformative journey by joining the BTCMTX presale today.<\/p>\n Buy BTCMTX Here<\/strong><\/a><\/p>\n The post Is Binance Coin About to Crash? BNB Price Turns Red as Ethereum-Based Bitcoin Mining Protocol Raises $9.2 Million<\/a> appeared first on Cryptonews<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Binance coin has turned red as BNB tumbles away from double-topped resistance, but with…<\/p>\n","protected":false},"author":0,"featured_media":21722,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-21721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts\/21721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/comments?post=21721"}],"version-history":[{"count":0,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts\/21721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/media\/21722"}],"wp:attachment":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/media?parent=21721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/categories?post=21721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/tags?post=21721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
BNB\/USDT volume experienced a 1047.69% in the last 1 minute.<\/p>\n
Volume: $1.45m
LearnMore: https:\/\/t.co\/qhZiIRuvaD<\/a>
: @GeniiData<\/a> #geniidata<\/a> #crypto<\/a> #bitcoin<\/a> #trading<\/a> #BNB<\/a> pic.twitter.com\/OLDcBe6Gat<\/a><\/p>\nBNB Price Analysis: As Binance Coin Retraces From Double-Top Resistance \u2013 Is BNB Going to Crash?<\/strong><\/h2>\n
\nAs price action tumbles, Binance Coin is currently trading at a market price of $294.7<\/a> (representing a 24-hour change of +0.51%).<\/p>\nBNB Price Analysis Alternative? New Bitcoin Cloud Mining Project BTCMTX Smashes $9.24M Raised<\/strong><\/h2>\n
$10M In The Crosshairs: Bitcoin Minetrix Surges Past $9.24M \u2013 Poised to Outperform BNB Price Analysis<\/strong><\/h2>\n
\nSince the 2021 Bull Run, Bitcoin mining has defied expectations by undertaking something of a renaissance in network growth.<\/p>\nWhy Has Bitcoin Mining Become So Centralized?<\/strong><\/h2>\n
\nA closer look at the summary of mined blocks over the past 48-hours reveals that a shocking\u00a055.79%<\/a>\u00a0of all Bitcoin block rewards go to just two Bitcoin mining pools.<\/p>\nKey Highlights of the BTCMTX Advantage Over BNB Price Analysis Verdict:<\/strong><\/h2>\n
\nSafety First with Ethereum Blockchain:<\/strong>\u00a0Bitcoin Minetrix operates on the tried and trusted Ethereum blockchain. This ensures top-notch security and reliability, allowing users to sidestep the risks associated with external mining pools, and offering a safeguard against potential fraudulent cloud mining services.
\nChampioning True Decentralization:<\/strong>\u00a0At its core, Bitcoin Minetrix upholds the ethos of decentralization. In an age where centralization often introduces vulnerabilities, Bitcoin Minetrix breaks the mold, redistributing mining profits from big corporations to individual retail investors through its novel Stake-to-Mine system.
\nTapping into the Bitcoin Halving Opportunity<\/strong>: Perfectly poised to make the most of the upcoming Bitcoin halving, Bitcoin Minetrix provides investors with a golden opportunity. The impending halving might seem daunting for miners due to reduced block rewards, but historically, such events have driven up Bitcoin\u2019s value. Bitcoin Minetrix provides a platform for investors to tap into this potential surge, sans the associated capital risks.
\nThe BTCMTX Presale Opportunity:<\/strong>\u00a0The ongoing BTCMTX presale has already garnered significant interest, with over $9.1m raised towards its $9.5M goal. At a competitive price of\u00a0just $0.013 per token<\/strong>, early investors have a unique chance to be at the forefront of this stake-to-mine evolution.<\/p>\nThe Bottom Line: Don\u2019t Miss BTCMTX<\/h2>\n
\nIn sum, Bitcoin Minetrix is set to redefine the Bitcoin landscape. With its innovative methodologies, stringent security measures, and the vast potential of its stake-to-mine mechanism, it beckons as a lucrative opportunity for early-bird investors.<\/p>\n