ORDI Price Analysis: Will the First Ordinal Token Go to Zero?

ORDI Price Analysis Will the Market's Shift Towards BRC-20 Ordinal Tokens Cause ORDI Price to Plummet or is this Promising Token Set for a Price Surge?

Is Ordi going bankrupt? Ordi’s price drops by 10% after a new Bitcoin protocol reaches $8 million.

📉 First ever BRC-20 ordinal token Ordi (ORDI) has recently experienced a sudden -10% price drop, leaving some panicked investors asking “Is Ordi going to zero?” Today, we’ll delve into this ORDI price analysis to explore the possible reasons behind the drop and discuss the potential future outlook for the token.

What Caused the Price Drop?

The recent price drop in ORDI coincides with the anticipation surrounding the highly awaited Bitcoin spot ETF approval, expected to be announced today (January 10). Traders speculate that if Bitcoin spot ETFs are approved by the SEC, ORDI could experience a significant pump, making it a favored Bitcoin beta play in the crypto market.

However, it’s important to note that the recent drop in ORDI price is in line with Bitcoin’s retracement, triggered by a false rally caused by a hacked tweet from Gary Gensler’s Twitter account. As of now, ORDI is trading below the 20-day moving average (20DMA) at a market price of $66.09, representing a 24-hour change of -5%.

Analyzing the Charts

While the price of ORDI looks vulnerable, there are several factors to consider that could impact its future performance. Let’s take a closer look at some key metrics:

RSI Indicator: Neutral Outlook

The sudden drop in price has surprisingly fueled an improved outlook on the Relative Strength Index (RSI) indicator, which currently stands at 51.58. This suggests that the price has the potential for a significant push upwards.

MACD: Bearish Divergence

On the other hand, the Moving Average Convergence Divergence (MACD) is showing bearish divergence at -2.003. This indicates stalled momentum prior to the SEC’s ETF decision.

Potential Outlook for ORDI

Despite the current market conditions, there are strong fundamental factors at play that could favor ORDI in the near future. As major BRC-20 Ordinal tokens are expected to experience bullish headwinds today, late-stage traders may find an alluring entry point for potential gains.

Considering these factors, ORDI price faces an upside target above resistance at $83.5, with a possible increase of 24.81%. However, downside risk could potentially push the price down to lower support at $52, resulting in a potential decrease of 22.28%.

It’s important to remember that ORDI, as well as other BRC-20 Ordinal tokens, may be going through a downtick at the moment. However, an emerging Bitcoin mining presale project called Bitcoin Minetrix (BTCMTX) could also present an enticing Bitcoin ETF beta play opportunity.

Introducing Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix is disrupting the industry with its innovative stake-to-mine system. Through this platform, users can buy, stake, and watch as their rewards accumulate, all while enjoying an enticing 86% Staking APY. This approach makes passive income in the crypto world accessible to everyone.

The ongoing BTCMTX presale has already raised over $8 million towards its $8.5 million goal, indicating significant interest in this novel approach to Bitcoin mining. With a competitive price of just $0.0127 per token, early investors have a unique opportunity to be part of the stake-to-mine revolution.

Key Highlights of BTCMTX Advantage Over ORDI Retracement

Here are some key advantages of Bitcoin Minetrix (BTCMTX) when compared to the recent retracement of ORDI:

🚀 Distinctive Edge in the Market: BTCMTX stands out in the crowded cloud mining platform industry by offering the first-ever tokenized Bitcoin cloud mining initiative. Its automated system sets a new standard for the industry.

🔒 Safety First with Ethereum Blockchain: Bitcoin Minetrix operates on the secure and reliable Ethereum blockchain, providing users with a safeguard against potential fraudulent cloud mining services and external mining pools.

🌐 Championing True Decentralization: BTCMTX upholds the ethos of decentralization, redistributing mining profits from big corporations to individual retail investors through its novel Stake-to-Mine system.

⛏️ Tapping into the Bitcoin Halving Opportunity: BTCMTX is perfectly positioned to take advantage of the upcoming Bitcoin halving. While reduced block rewards may concern traditional miners, historically, such events have driven up Bitcoin’s value, making it an ideal time for investors to participate.

💎 The BTCMTX Presale Opportunity: With over $8 million raised and a competitive token price, the ongoing BTCMTX presale offers early investors a chance to be part of this innovative stake-to-mine evolution.

Conclusion: Don’t Miss out on BTCMTX

Bitcoin Minetrix is set to revolutionize the Bitcoin mining landscape. With its secure methodologies, commitment to decentralization, and the vast potential of its stake-to-mine mechanism, it presents a lucrative opportunity for early investors.

Secure your position in this transformative journey by joining the BTCMTX presale today. Remember, crypto is a high-risk asset class, so conduct your own research and make informed investment decisions.

💡 References: 1. Bitcoin Halving 2024: 100 Days and 15,000 Blocks Away 2. SEC Faces Backlash from Crypto Leaders for Erroneous Bitcoin ETF Tweet 3. Bitcoin Minetrix ICO Surges Past $75 Million 4. Best Crypto to Watch in 2024: Top 5 Cryptocurrencies 5. Miners Predict Potential Outcomes of Reduced BTC Rewards 6. Perplexity Raises $73 Million in Series B with Reported $520 Million Valuation

👇 What are your thoughts on the recent ORDI price drop and the potential of Bitcoin Minetrix? Share your views in the comments below and don’t forget to share this article on social media! 📲💬

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