In the world of cryptocurrency, Bitcoin has remained the subject of much interest and speculation.
As the price of bitcoin experiences volatility, analysts and traders are constantly looking for insights into its future movements.
In this bitcoin price predictionWe will focus on assessing a potential support level of the ascending channel near $26,800.
By analyzing key technical indicators and market trends, we aim to provide a clear understanding of the potential trajectory of bitcoin in the near term.
EU Member States Prepare to Enact Unprecedented Cryptocurrency Regulations
Who has given final approval to the world’s first comprehensive framework of regulations for crypto-assets? European Union Member states on Tuesday stepped up pressure on countries such as Britain and the United States to follow suit.
Sweden’s Finance Minister Elisabeth Svantesson said, “Recent developments underline the critical need to implement regulations that enhance the protection of European investors in these assets and against the misuse of the cryptocurrency industry for money laundering and terrorist financing.” protects.” holds the presidency of the European Union.
It has been decided that service providers should start requesting the names of both senders and beneficiaries of crypto assets starting in January 2026, regardless of the transfer amount.
An agreement has been reached to amend rules governing tax cooperation between member states, including transactions involving crypto-assets, as well as the exchange of information related to high-value tax rulings .
Crypto companies stress their desire for regulatory certainty, pressuring governments to adopt EU regulations and regulators to set consistent standards for cross-border operations.
These new regulations have had a negative impact on crypto assets, especially the BTC/USD pair.
Peter Thiel invests $35 million in bitcoin startup River
On Tuesday, River, a bitcoin technology and financial services company, secured a $35 million Series B round led by investment firm Kingsway Capital, with participation from billionaire investor Peter Thiel.
For both individuals and companies, River offers a wide range of bitcoin-related services, including mining, fully-reserved custody, and a wallet that supports both on-chain and Lightning Network transactions.
The Lightning Network is a bitcoin scaling solution that accelerates transaction speeds and lowers fees by settling transactions off-chain.
recently news statementRiver CEO Alex Leishman emphasized the importance of bitcoin, saying, “These bank failures and bailouts are a reminder of why bitcoin is so important.”
He highlighted bitcoin as a secure path towards a more equitable, democratic and open global economy.
Leishman further added that River’s mission is to provide individuals with the simplest on-ramp to invest in bitcoin as they seek alternatives to the current system.
This fundraising round reinforces our commitment to leveraging bitcoin—the only indestructible digital currency—to foster a trustworthy and resilient financial ecosystem.
New Wave of Institutional Adoption Fuels BTC/USD Price Surge
Cormint Data Systems, a startup in the bitcoin mining industry raised $30 million in a Series A fundraising round. The round was co-led by its chairman and will be used to build a data center in Fort Stockton, Texas with a processing capacity of 2.4 accesses per second (EH/s).
The additional funding is in addition to the 400 BTC ($10.8 million) raised through promissory notes due in late 2022.
The mining sector is recovering after a prolonged period of decline known as the crypto winter, which resulted in multiple bankruptcies and defaults.
The recent increase in the price of bitcoin and reduction in energy costs have contributed to this recovery.
Meanwhile, Auradyne, a Silicon Valley-based provider of web infrastructure solutions, has announced a successful Series A funding round, raising $81 million.
This startup has attracted attention in the market, especially because it is backed by Marathon Digital Holdings, a well-known bitcoin mining company.
Marathon disclosed in its most recent Q3 report that Auradyne holds preferred stock worth approximately $35.5 million.
A recent surge in institutional adoption among crypto-related startups helped offset losses in BTC/USD price on Wednesday.
bitcoin price
Bitcoin It is currently trading at $27,114, down 0.15 percent on Wednesday.
The growing trend of institutional adoption among crypto startups is currently helping bitcoin.
BTC formed a descending channel with support near $26,850 on the two-hours chart.
There is also a potential support near $26,750, as indicated by a double bottom pattern.
This range is crucial for bitcoin’s bullish trend as long as it stays above $26,750 within the channel.
Two major technical indicators, the RSI and the MACD, are currently in the neutral zone.
Bitcoin price is trading above and below the 50-day exponential moving average, indicating mixed investor sentiment.
Today, the $26,750 level is crucial. Holding above it suggests considering buying positions with a target of $27,250 and possibly $27,650.
A break below $26,750 could spark a decline towards $26,200.
Top 15 Cryptocurrencies to Watch in 2023
cryptonews The Industry Talk team has compiled a selection of promising cryptocurrencies for 2023 that demonstrate strong potential.
These cryptocurrencies show significant growth potential in both the near and distant future.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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