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.
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.
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.
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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.
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