Is Celestia Doomed? TIA Price Drops 4.2% as New Bitcoin Project Reaches $7.9 Million

Celý článek

Celestia crypto has bounced back strong from a 4.2%, drop, yet, some disparate holders are still questioning whether TIA price is doomed, dig into TIA price analysis to find out.

Growth for the modular layer-1 blockchain has been fuelled by increased interest in a plethora of airdrops available to TIA holders on the near horizon.

4 confirmed airdrops for $TIA stakers, all within a month.

And there's more coming…

Stake $100 in $TIA now ➜ Get $10,000 worth of airdrops later

The ultimate 10-minute guide to buy and stake $TIApic.twitter.com/E3Pz3qj5ol

— Rekt Fencer (@rektfencer) January 9, 2024

There are currently four confirmed TIA airdrops coming up in the near future, including Dymension (DYM), Milky Way Zone (MILK), Movement Labs (MOV), and Doki Coin (DOKI).

TIA Price Analysis: Is Celestia Crypto Doomed Or Can Price Recovery Prevail?

As price hammers back up to localized resistance, Celestia crypto is currently trading at a market price of $16.05 (Representing a 24-hour change of +12.9%).

This comes as TIA price yesterday saw a -12% revisit to test support below the 20DMA at the lower trendline (at $12.5) in a well-defended move Celestia bulls.

Now back at a local range below resistance at $17.28, price action has formed a bullish pan handle pattern that suggests a strong performance could be inbound on the short time frame (STF).

Yet, despite 20DMA support, with Celestia crypto price action stalling below resistance, a glance at the RSI reveals over-priced and over-bought price positioning with the indicator screaming bearish at 64.41.

This is contrasted on the other hand by the MACD which has flipped to minor bullish divergence with the recent push up, now reading at 0.0726.

Overall, TIA structure looks strong here, with a bullish panhandle pattern illuminating further upside price action on the short-time frame despite a bearish RSI (which still has the capacity to heat-up to 85).

This leaves TIA price with an upside target at $17.28 resistance level (a possible +8%).

While downside risk could see TIA price retreat backdown to $12.5 (a potential -21.8%).

Celestia crypto therefore has a current risk: reward ratio of 0.37 – a bad entry despite bullish form – but certainly not doomed to zero.

But while Celestia crypto’s TIA price offers a bad entry, an alluring opportunity emerges in the Bitcoin Minetrix presale.

TIA Price Analysis Alternative? Don’t Miss Bitcoin Minetrix $BTCMTX Presale As $7.9M Raised

Dive into the innovative world of Bitcoin Minetrix and its pioneering stake-to-mine system – as the skyrocketing presale smashes +$7,903,385 raised.

Offering an enticing 86% Staking APY, Bitcoin Minetrix provides a platform where users can buy, stake, and then watch as the rewards start accumulating.

Stage 18 of #BitcoinMinetrix concludes in 48 hours!

Which #Bitcoin use case intrigues you the most and why? pic.twitter.com/Bxo7Tidrrh

— Bitcoinminetrix (@bitcoinminetrix) January 9, 2024

The true essence of passive income in the crypto world has never been this accessible.

With the Bitcoin Minetrix approach, gone are the days of heavy initial capital and navigating complex mining contracts.

$8M In The Crosshairs: Bitcoin Minetrix Surges Past $7.9M As Markets Rush To Bitcoin Cloud Mining

Since the 2021 Bull Run, Bitcoin mining has defied expectations by undertaking something of a renaissance in network growth.

Bitcoin’s Hash Rate (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).

This dramatic growth has been fuelled by a substantial increase in the scale of Marathon Digital and Riot Platforms’ mining operations.

The world’s largest Bitcoin miner – Marathon – reported that for Q3 2023 it 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).

Meanwhile Riot Platforms reported a new record hash rate of 10.9 EH/s (mining around 368 BTC per month, or, $13.3M USD), with Riot’s operations expected to grow to 20.2 EH/s by summer 2024.

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’s decentralization.

Bitcoin mining in 2023 is the most centralized it has ever been in its short 15-year history.

A closer look at the summary of mined blocks over the past 48-hours reveals that a shocking 55.79% of all Bitcoin block rewards go to just two Bitcoin mining pools.

AntPool took the largest share at 83 blocks mined (29.123%), while second largest mining pool Foundry USA mined 76 blocks (26.667%).

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.m

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.

Currently standing at 62,573,539,549,305 – it has never been harder for the individual participant to engage in profitable Bitcoin mining.

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 – both for network decentralization and preserving Bitcoin as a profitable activity for the individual.

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.

Key Highlights of the BTCMTX Advantage Over TIA Price Analysis Retracement:

• Distinctive Edge in the Market: In 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’s geared for cloud-based Bitcoin mining, setting a new standard for the industry.
• Safety First with Ethereum Blockchain: Bitcoin 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.
• Championing True Decentralization: At 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.
• Tapping into the Bitcoin Halving Opportunity: 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’s value. Bitcoin Minetrix provides a platform for investors to tap into this potential surge, sans the associated capital risks.
• The BTCMTX Presale Opportunity: The ongoing BTCMTX presale has already garnered significant interest, with over $7.57m raised towards its $8M goal. At a competitive price of just $0.0126 per token, early investors have a unique chance to be at the forefront of this stake-to-mine evolution.

In 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.

Secure your position in this transformative journey by joining the BTCMTX presale today.

Buy BTCMTX Here

^{Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.}

The post Is Celestia Doomed? TIA Price Drops 4.2% as New Bitcoin Project Reaches $7.9 Million appeared first on Cryptonews.