Bitcoin’s Struggles to Surpass $27,000 as New Alternative Raises More Than $1.5 Million

The post Bitcoin’s Struggles to Surpass $27,000 as New Alternative Raises More Than $1.5 Million appeared on BitcoinEthereumNews.com.

Despite optimistic price predictions, Bitcoin (BTC) still struggles to stay north of $27,000. For several months, the $27,000 resistance level has been an insurmountable obstacle for BTC. Some experts even claim that if the situation persists, it is possible that the price will retreat to the $25,000 level, forming a new resistance level. In the meantime, a new alternative raised more than $1.5 million in presale. Bitcoin Minetrix (BTCMTX) is a modern take on the venerable BTC, offering features that the aging Bitcoin blockchain doesn’t support. >>> Buy Bitcoin Minetrix Now<<< Bitcoin’s Struggles to Surpass $27,000 Recent rumors claiming that Bitcoin whales have accumulated a massive number of BTC tokens have spurred hopes that the world’s oldest crypto may be close to a breakthrough. The current bearish market has made it possible for whales and sharks to hoard more than 13 million BTC, anticipating a significant price increase, according to Santiment’s analyses. Santiment defines Bitcoin whales as all wallets holding between 10 and 10,000 BTC.    This represents the largest accumulation of BTC this year. Experts believe that the new-found optimism is based on a huge number of requests made to the U.S. Securities and Exchange Commission (SEC) for the approval of a Bitcoin Spot ETF. The SEC, however, still hasn’t made a decision, postponing it several times. However, some other news has emerged this week that may dampen those plans. Particularly troubling is the report claiming that Bitcoin miners have dumped more than 2,000 tokens, which led to BTC price dipping below $27,000. In total, some $15.28 million worth of Bitcoin was liquidated in a 24-hour span on Wednesday. The contradicting reports have made investors wary of Bitcoin’s prospects and forced them to look for alternatives. One of the most promising is Bitcoin Minetrix, an Ethereum-based token. BTCMTX has already…