Bitcoin Price Prediction as BTC Jumps Up 10% in 7 Days – New Bull Market Starting?

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Bit­coin has surged 10% in the past sev­en days, which has spurred spec­u­la­tion that a new bull mar­ket is begin­ning. While pre­dict­ing the price of Bit­coin can be dif­fi­cult, there are sev­er­al fac­tors to con­sid­er regard­ing its future prospects. 

With increased adop­tion around the world and a com­mit­ment to inno­va­tion, Bit­coin could be on track for anoth­er bull run in the near future.

Bitcoin Fear & Greed Index Enters the ‘Greed’ Zone After 10 Months: Here’s What You Need To Know

After over 2 months of hov­er­ing in the “fear” zone, the Bit­coin Fear and Greed index has now shift­ed to the “greed” zone once again. This indi­cates that investors are feel­ing more opti­mistic about the cryp­tocur­ren­cy market.

Fear and Greed index — Source: alternative.me

Bit­coin has had an impres­sive run this year, with its price up near­ly 40%. This is a great improve­ment on last year’s two-year low of under $16,000 and indi­cates a pos­i­tive out­look on the orig­i­nal cryptocurrency.

Argo Blockchain Lawsuit: Company ‘Misrepresented’ Pre-IPO Finances To Investors

A class-action law­suit has been filed against Argo Blockchain, a Bit­coin min­ing com­pa­ny, by its investors. The law­suit claims that the firm had mis­led them through false claims pri­or to its Ini­tial Pub­lic Offer­ing (IPO).

In Sep­tem­ber 2021, a Lon­don-based com­pa­ny issued 7.5 mil­lion shares to the pub­lic at a rate of $15 each, and raised $112.5 mil­lion in total.

The com­plaint claimed that record mate­ri­als relat­ed to the IPO had includ­ed false facts and had not com­plied with rel­e­vant laws and regulations.

Accord­ing to the law­suit, Argo alleged­ly min­i­mized the risks linked to its finan­cial posi­tion, elec­tric sup­ply, and net­work issues. Fur­ther­more, it is also accused of exag­ger­at­ing its finan­cial stand­ings and busi­ness outlooks.

Accord­ing to a fil­ing, the com­pa­ny’s Bit­coin pro­duc­tion decreased by 25% from April to May of 2022 due to a rise in net­work dif­fi­cul­ty, high­er elec­tric­i­ty costs, and dis­rupt­ing min­ing activ­i­ties at its Texas loca­tion known as “Helios”.

Got An Opinion On Crypto? The White House Is Now Asking For Your Input

The OSTP at the White House is invit­ing the pub­lic to give their insight that will be used in build­ing a pol­i­cy for cryp­tocur­ren­cy. The Office of Sci­ence and Tech­nol­o­gy Pol­i­cy (OSTP) pub­lished an arti­cle on the 26th of Jan­u­ary, high­light­ing the impor­tance of pub­lic opin­ion in iden­ti­fy­ing the key areas to focus on when research­ing and devel­op­ing cryptocurrencies.

The FTAC (Fast Track Action Com­mit­tee) has request­ed that an opin­ion is sub­mit­ted by the agency they are con­nect­ed with, by March 23. This opin­ion should focus on sub­jects of cryp­tocur­ren­cies, blockchain tech­nol­o­gy, dis­trib­uted ledgers, DeFi (Decen­tral­ized Finance), and smart contracts.

The Office of Sci­ence and Tech­nol­o­gy Pol­i­cy (OSTP) recent­ly stat­ed that they will be gath­er­ing pub­lic opin­ion on top­ics such as cyber­se­cu­ri­ty, pri­va­cy, and cryp­tocur­ren­cies. This research is intend­ed to be all-inclu­sive and thor­ough in its approach. 

The White House recent­ly made a state­ment acknowl­edg­ing the US is look­ing into launch­ing its own dig­i­tal cur­ren­cy. This pro­posed cur­ren­cy is referred to as a Cen­tral Bank Dig­i­tal Cur­ren­cy (CBDC) and its roll­out is being active­ly explored by the Unit­ed States of America.

Bitcoin Price 

Bit­coin is cur­rent­ly trad­ing at $23,072; has a 24-hour trad­ing vol­ume of $23 bil­lion. The BTC/USD pair is above the sup­port line at around $22,325 and clos­ing Doji and spin­ning top can­dles in a range of $22,340 to $23,400.

Bit­coin is fac­ing a major hur­dle at the $23,250 mark but if it can break that bar­ri­er, its val­ue could go up sig­nif­i­cant­ly to $23,900 or even high­er to $25,150.

Bit­coin Price Chart — Source: Tradingview

On the low­er side, a bear­ish break­out of $22,325 lev­el could expose BTC/USD to the down­side, lead­ing to a bear­ish shift in the mar­ket. Such a move­ment may result in Bit­coin drop­ping to $21,500 and poten­tial­ly even reach­ing as low as $20,450.

Buy BTC Now

Bitcoin Alternatives

Cryp­toNews recent­ly iden­ti­fied the 15 cryp­tocur­ren­cies with the most poten­tial for 2023. If you’re look­ing to invest, there are oth­er projects out there that could yield a good return if you research them well.

Cryp­tocur­ren­cy investors and traders con­tin­u­ous­ly mon­i­tor the alt­coins & ICOs in the dig­i­tal asset space to remain updat­ed on all unfold­ing trends and opportunities.

Dis­claimer: The Indus­try Talk sec­tion fea­tures insights by cryp­to indus­try play­ers and is not a part of the edi­to­r­i­al con­tent of Cryptonews.com.

Find The Best Price to Buy/Sell Cryptocurrency

Cryp­tocur­ren­cy Price Track­er — Source: Cryp­tonews



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