In a major move for Sam Altman’s crypto project, Worldcoin, WLD price has surged amid market excitement over OpenAI’s AI-powered video generation service Sora.
This article will provide an analysis of WLD’s current price trends and look to see whether a newer project, BTCMTX, represents a more promising investment opportunity at this time.
$WLD Hit a Fully dilluted valuation of over $90 Billion yesterday.
What this means and how it works can be read in my previous tweet below.
Shows you yet again how these FDV’s can be deceiving in the short term. Longer term (1+ years), they are very important. https://t.co/pUrXhmqlD9 pic.twitter.com/dldsrcLESL
— Daan Crypto Trades (@DaanCrypto) February 23, 2024
However, despite the recent WLD price surge, crypto market spectators appear increasingly concerned by the prospect of an over-valuation by irrational markets, especially in face of an upcoming wall of token unlocks that could negatively impact WLD price performance.
WLD Price Analysis: As Worldcoin Hammers Up Amid AI Narrative Excitement – Is Sam Altman Hype Enough To Sustain Skyrocket?
Sam Altman’s announcements have driven Worldcoin’s price to surge, now trading at $8.78, a +7.8% change in 24 hours.
Following a brief pullback on February 20, Worldcoin soared to a new peak of $9.03.
Currently, after a significant rally, Worldcoin shows a +108% increase above the 20-day moving average (20DMA) support, propelled by the AI narrative.
The 20-day moving average (20DMA), positioned at $4.21, has played a pivotal role recently, initially acting as resistance throughout January and later supporting a consolidation phase before a significant surge.
Worldcoin’s price surged on February 12, following a bounce off the 20DMA, leading to a +264% increase.
This rally to a new high was notably driven by the enthusiasm around Sam Altman’s announcement regarding OpenAI’s Sora.
However, the Relative Strength Index (RSI) for WLD, at an overheated 85, signals potential overbought conditions and suggests an impending need for a short-term retracement.
This view is contrasted by the MACD, which highlights the strong momentum fueling this AI-driven rally.
Overall, WLD price analysis paints a picture of a strong technical rally to a new all-time high here, and while retracement might be the name of the game in the immediate future, it seems the AI narrative is going nowhere anytime soon.
To the upside, this leaves Worldcoin targeting a move to $10 (a potential +10.24%).
While downside risk could see Worldcoin fall down to lower support at $8 (a possible -11.8%).
This leaves Worldcoin price analysis with a risk: reward ratio of 0.87 – a bad entry on the short-time frame due to retracement risk.
But while WLD price analysis might not offer much in the near future, as Sam Altman hype wains, a new Bitcoin mining protocol is burgeoning on the verge of success ahead of the next Bitcoin halving event.
WLD Price Analysis Alternative? New Bitcoin Cloud Mining Project BTCMTX Smashes $11M Raised
Dive into the innovative world of Bitcoin Minetrix and its pioneering stake-to-mine system – as the skyrocketing presale smashes +$11,323,748 raised – with just 2 days left until the end of presale stage 27.
Offering an enticing 60% Staking APY, Bitcoin Minetrix provides a platform where users can buy, stake, and then watch as the rewards start accumulating.
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.
Only 2 days remaining until the conclusion of Stage 27 for #BitcoinMinetrix!
How do mining hardware advancements impact the landscape of #Bitcoin mining? pic.twitter.com/sfM36jAx9K
— Bitcoinminetrix (@bitcoinminetrix) February 23, 2024
$13M In The Crosshairs: BTCMTX Surges Past $11M – Poised to Outperform WLD Price Analysis
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).
The expansion of Marathon Digital and Riot Platforms’ operations has significantly fueled growth in the Bitcoin mining sector.
Marathon, the world’s largest Bitcoin miner, reported a Q3 2023 average hash rate of 14.2 EH/s, a 500% increase year-over-year, accounting for about 4% of the total network hash. This capacity enabled them to mine approximately 1153 BTC per month, valued at $42.2 million USD.
Riot Platforms achieved a new record hash rate of 10.9 EH/s, mining around 368 BTC per month, worth $13.3 million USD. Riot anticipates growing its operations to 20.2 EH/s by summer 2024.
However, the record-high Bitcoin network hash rate, while enhancing network security and profitability for miners, raises concerns about moving away from Satoshi Nakamoto’s original vision of decentralization.
Bitcoin mining in 2023 is the most centralized it has ever been in its short 15-year history.
Why Has Bitcoin Mining Become So Centralized?
An analysis of Bitcoin block rewards mined in the last 48 hours shows an astonishing 55.79% of all rewards were captured by just two mining pools.
AntPool led with 83 blocks (29.123%), and Foundry USA followed closely with 76 blocks (26.667%).
This significantly overshadows the output of the third-place F2Pool, which mined 34 blocks (about 11.93%), underscoring the escalating issue of mining centralization.
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 70,440,798,833,881 – it has never been harder for individual participants to engage in profitable mining.
Heightened network difficulty, driven by intense competition, has necessitated innovative solutions for retail investors to engage in mining.
This aims at both decentralizing the network and keeping Bitcoin mining profitable for individuals.
Bitcoin Minetrix emerged in response, offering retail investors secure and transparent rewards through a pioneering decentralized Bitcoin cloud mining method.
Key Highlights of the BTCMTX Advantage Over Worldcoin Verdict:
Distinctive Edge in the Market: Bitcoin Minetrix stands out in the crowded cloud mining market as the first to offer tokenized Bitcoin cloud mining. It brings an automated system tailored for cloud-based Bitcoin mining, establishing a new benchmark for the industry. Safety First with Ethereum Blockchain: Bitcoin Minetrix utilizes the reliable Ethereum blockchain, providing high security and dependability. This allows users to avoid the risks of external mining pools and protects against possible fraudulent cloud mining services. Championing True Decentralization: Bitcoin Minetrix is fundamentally committed to decentralization, challenging the vulnerabilities brought by centralization. It redistributes mining profits from large corporations to individual retail investors via its innovative Stake-to-Mine system, altering the traditional mining landscape. Tapping into the Bitcoin Halving Opportunity: Bitcoin Minetrix is ideally positioned to capitalize on the upcoming Bitcoin halving, offering investors a significant opportunity. While the halving reduces block rewards, potentially challenging miners, it has historically increased Bitcoin’s value. Bitcoin Minetrix offers a way for investors to leverage this anticipated surge without the usual capital risks. The BTCMTX Presale Opportunity: The BTCMTX presale has attracted considerable attention, raising over $11m towards its $13M target. Priced at only $0.0136 per token, early investors are presented with a prime opportunity to lead in the stake-to-mine evolution.
The Bottom Line: Don’t Miss BTCMTX
In sum, Bitcoin Minetrix is set to redefine the mining 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
The post Is It Too Late to Buy WorldCoin? WLD Price Surges as Innovative Mining Protocol Democratizes Cloud Mining appeared first on Cryptonews.
