Worldcoin’s price has jumped by 16% in the past 24 hours, sparking excitement from the crypto world.

This comes right after Sam Altman’s OpenAI revealed Sora, a new text-to-video AI tool.

Given its huge price surge, everyone’s wondering whether it’s too late to buy WLD.

This article will provide an analysis of WLD’s current price trends and look to see whether a newer Bitcoin mining protocol represents a more promising investment opportunity pre-halving.

This prominent investor persists in accumulating $WLD tokens.
Once more, approximately 5 hours ago, wallet address “0xbd8c” withdrew 150,000 #WLD from #Binance , amounting to approximately $1.28 million at a unit price of $8.58 per WLD.

1⃣/2⃣ pic.twitter.com/ec8vCSZxeK

— SHEKHAR BANERJEE (@ShekharExplorer) February 26, 2024

With AI fever reaching peak temperature, big players in the crypto space appear to be continually honing in on Worldcoin as a coin to accumulate, with major buys representing huge votes of confidence in the OpenAI-linked project.

WLD Price Analysis: As Worldcoin Continues to Push Up – Is It Too Late to Buy Worldcoin?

As price action continues to fall away from upper trendline resistance, Worldcoin is currently trading at a market price of $8.2 (representing a 24-hour change of -3.3%).

This comes after price action hit a local top around upper trendline resistance in the aftermath of a new all-time high at $9.46 on February 25.

With WLD price seemingly pushing down, retracement could be the name of the game, with price action here showing the first signs of distress since the beginning of Worldcoin’s +248% skyrocket.

The ascendant 20DMA (stood at $5) could form a key support level for WLD price in the event of a retracement move, with a strong retest overdue given the significant 62% divergence between price and moving average support.

A need for retracement is also evident in Worldcoin’s RSI indicator, which has become severely overheated with the push up to a new all-time high, and now reads at a bearish 80.4.

Yet, this continues to meet with a degree of contrast from the MACD, which shows a minor bullish divergence in Worldcoin’s momentum at 0.378.

Overall, WLD price analysis depicts a coin in desperate need of a healthy retracement move after posting a new all-time high, following a well-defended consolidation move, it seems likely Worldcoin will continue to rally.

To the upside, this leaves WLD price targeting a move to $9 (a potential +7.3%).

While downside risk could see WLD price return to $6 (a possible -28.4%).

Consequently, WLD price analysis reveals a short-time frame risk: reward ratio of 0.26, a bad entry characterized by outsized and overdue retracement risk.

But while Sam Altman’s Worldcoin might not allure retail traders seeking big returns, a better play has gone viral, introducing the Bitcoin Minetrix presale – which stands to make it big heading into the Bitcoin halving event.

WLD Price Analysis Alternative? New Bitcoin Cloud Mining Project BTCMTX Smashes $11.44M Raised

Dive into the innovative world of Bitcoin Minetrix and its pioneering stake-to-mine system – as the skyrocketing presale smashes +$11,444,869 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.

@Mawsoninc takes a strong stance on transparency, withholding 1.35 million RSUs from former CEO James Manning due to undisclosed transactions totaling $1.3 million.

Do you believe transparency is essential in corporate leadership?#BitcoinMinetrix also reaches another… pic.twitter.com/WGw8zaNUFZ

— Bitcoinminetrix (@bitcoinminetrix) February 26, 2024

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

$13M In The Crosshairs: BTCMTX Surges Past $11.25M – 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 Soars 16% as New Bitcoin Mining Protocol Secures $11.4M appeared first on Cryptonews.