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Since Bitcoin has increased 10% over the previous week, there has been talk about the start of a new bull market. Although it might be challenging to estimate the price of Bitcoin, there are a number of things to think about in terms of its potential.
Bitcoin may soon see another bull run because to greater global usage and a dedication to innovation.
The Bitcoin Fear and Greed index has finally moved back to the “greed” zone after spending more than two months in the “fear” zone. This suggests that investors are more upbeat about the market for cryptocurrencies.
With a price increase of about 40% this year, bitcoin has had a remarkable run. This is a significant increase above the two-year low of under $16,000 reached last year and suggests that the first cryptocurrency is on the upswing.
Investors in the Bitcoin mining business Argo Blockchain have brought a class-action lawsuit against it. Prior to its Initial Public Offering, the business allegedly deceived them by making misleading statements, according to the lawsuit.
A London-based business released 7.5 million shares to the public in September 2021 at a price of $15 apiece, raising a total of $112.5 million.
According to the lawsuit, record materials for the IPO contained incorrect information and violated pertinent laws and regulations.
The complaint claims that Argo reduced the risks associated with its financial situation, access to electricity, and network problems. It is also charged with inflating its financial situation and economic prospects.
In accordance with a filing, the company’s output of Bitcoin fell by 25% between April and May of 2022 as a result of increased network difficulty, higher power prices, and disruptions to mining operations at its “Helios” mining facility in Texas.
The public is being asked by the OSTP at the White House for their input that will be utilized in developing a cryptocurrency policy. The importance of public opinion in determining the primary areas to focus on while researching and developing cryptocurrencies was highlighted in a January 26 article from the Office of Science and Technology Policy (OSTP).
The Fast Track Action Committee (FTAC) has asked that the agency with which they are affiliated offer an opinion by March 23. The topics of cryptocurrencies, blockchain technology, distributed ledgers, DeFi (Decentralized Finance), and smart contracts should be the main emphasis of this perspective.
Recently, the Office of Science and Technology Policy (OSTP) announced that they will be polling the public on issues including cryptocurrency, privacy, and cybersecurity. This study aims to be comprehensive and in-depth in its methodology.
In a recent statement, the White House acknowledged that the US is considering introducing its own digital currency. A Central Bank Digital Currency (CBDC) is the name of the proposed currency, and the United States of America is actively investigating its implementation.
Bitcoin is presently worth $23,072 and has a $23 billion 24-hour trading volume. The BTC/USD pair is trading in a range between $22,340 and $23,400, above the support line at about $22,325 and closing Doji and spinning top candles.
The $23,250 barrier is a considerable obstacle for Bitcoin, but if it can pass it, its value might rise to $23,900 or even higher to $25,150.
A negative breakdown of the $22,325 barrier on the fall might expose BTC/USD to the downside and trigger a bearish market change. A trend like this might cause Bitcoin to fall below $21,500 and possibly even as low as $20,450.
The fifteen cryptocurrencies with the greatest potential for 2023 were just named by CryptoNews. If you’re wanting to invest, there are other opportunities out there that, with careful investigation, may produce a nice return.
To keep up with all developing trends and possibilities, cryptocurrency investors and traders constantly follow the altcoins & ICOs in the digital asset industry.
