A significant event happened in the market of digital assets. The fact is that the main cryptocurrency (bitcoin) has finally started to show upward trends. Some experts claim that the reason for such a jump was the new steps taken by the SEC with regard to the companies that applied for opening a bitcoin-ETF. They also believe that the talk about the fairly imminent approval of the launch of these funds allowed the price of the asset to finally start rising.
However, BTC is not the only cryptocurrency that is predicted to see a big rise as early as this November. In addition to it, two other projects can demonstrate rapid development, which are discussed in more detail in this article.
Cryptocurrencies that can grow on the background of BTC market recovery
Now that the market situation has slightly improved, many assets have begun to grow in value. Not surprisingly, most experts believe that the projects presented below are very promising for rapid development in the future:
- Bitcoin Minetrix – a project that costs up to $1 and can be used to mine bitcoins.
- Meme Kombat is a virtual arena where users can place bets and earn cryptocurrency.
Bitcoin Minetrix
Perhaps the launch of Bitcoin Minetrix was awaited by a lot of participants of the cryptocurrency market. This is not surprising, as this revolutionary project offers an opportunity not only to earn BTCMTX tokens, but also to save significantly on mining equipment. The pace of the presale also indicates that the coin is popular. In almost a month since the start of trading, investors have invested more than $2.7 million in it. The project also stands out due to its affordable cost -$0.0113 per token at the current stage.
Bitcoin Minetrix is based on two technologies with the help of which users can earn cryptocurrency. At the same time, they have the choice of using only one of them or both of them at once.
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The first technology is steaking. It is a well-known principle that allows investors to increase their income without directly participating in the process. To start earning, you need to purchase assets on the presale and place them in escrow. Users will then receive bonus tokens BTCMTX as a reward.
The second technology is cloud mining. It can only be accessed by staking purchased tokens. This is a convenient, and most importantly, economical method to mine BTC.
Right now, $BTCMTX is trading at a value of $0.0113, but it is likely to rise to $0.0148 by the final presale.
Features:
- The presence of 39 stages of the presale gives everyone a chance to buy a promising asset at a low cost.
- There is a chance to win an additional number of coins during MineDrop.
- The value of the token does not exceed $1.
Meme Kombat
Meme Kombat is a universal interactive platform where users can play and get cryptocurrency rewards for it. During the pre-sale, investments in this project passed the $900 thousand mark, and its value is only $0.1667, but it will soon rise.
The work of all processes on the platform is carried out at the expense of the token $MK. It is the main part of both the steaking and betting mechanism. With its help, you can passively earn even more assets or bet on the result of virtual competitions and battles.
Meanwhile, the steaking technology itself in the Meme Kombat ecosystem also has a distinctive feature. It consists in the possibility to start earning from storing assets right now, during the pre-sale. Thus, by the time the project is released on crypto exchanges, early investors will be able to accumulate some coins.
The betting mechanism also has a number of interesting features. First, users can bet on a variety of details of virtual battles: on game weapons, characters and effects. Secondly, the gamer experience of investors will become much more interesting due to two battle modes: against other users or the computer.
One $MK token is trading today at a value of $0.1667, and the purchase can be made through a connected cryptocurrency wallet with ETH, BNB or USDT.
Features:
- The value of the asset makes it affordable for novice investors.
- The ability to participate in virtual battles and receive cryptocurrency for it.
- The developers plan to constantly update the game modes, adding mods and characters.
Latest news and bitcoin forecast for November
Finally there was an event that almost all participants in the market of digital assets were eagerly waiting for. The fact is that the main cryptocurrency managed to get out of the period of “stagnation” and grow in price immediately to $ 35 thousand. As analysts report, this is the first significant rise in the price of bitcoin since the beginning of its stagnation. In total, the asset has grown by 108% since the start of 2023.
Of course, the main reason for such growth was the news about the possible soon opening of bitcoin-ETF spot funds. Also, the price of the asset was positively influenced by the decision of the U.S. federal court in the case of Grayscale. Now the organization will be able to open and register a spot ETF fund for bitcoin. Also, the price of BTC rose by about 10% on the background of rumors about another similar approval, but this time concerning the application from the company BlackRock. However, this information was never actually confirmed.
As for the further development of bitcoin, we can assume the following: in November, the asset is quite capable of overcoming the $40,000 mark. However, the market conditions must remain suitable for this. Some more experts have decided to turn to artificial intelligence and see what variant of the development of events sees a powerful algorithm. For example, the CoinCodex platform assumes that BTC will be able to grow to $41 thousand after October 31.
Completion
As you can see, the digital asset market is now preparing for a new start of the bullish trend. Against the backdrop of recent events, a number of major cryptocurrencies have started to skyrocket in value, and this, in turn, affects the entire industry environment. With the news of Grayscale’s ETF fund opening soon, bitcoin has shown a real breakout. This is especially noticeable due to the fact that it has been in so-called “stagnation” for the past few months.
However, in addition to a number of major cryptocurrencies, there are also those that are in various stages of pre-sales. Now they are developing within the framework of their roadmaps, but they are able to show significant growth even after the release to the exchanges.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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