Recent market trends are pointing to a positive outlook bitcoin price, prompting investors to consider whether this is the right time to invest in them even after the fall. Taking into account current analysis and projections, it is possible to roughly estimate how cryptocurrencies may fare in the future.
These predictions indicate to potential investors whether investing in crypto is a viable option at this time.
Bitcoin continues to trade near the $28,000 mark as investors await a solid fundamental to drive price action.
Arkansas Legislature Passes Bill to Protect Bitcoin Mining Rights
The Arkansas Data Center Act, which gives crypto miners the same rights as data centers, is awaiting approval from the governor. This BillPassed by both the House and Senate, it aims to regulate bitcoin mining in Arkansas and shield miners from discriminatory regulations and taxes.
Proposed on March 30 by Senator Joshua Bryant, the bill quickly garnered support, acknowledging the economic value data centers bring to communities. The approved law mandates that digital asset miners pay taxes and fees in an acceptable currency and operate without strain on electric utility infrastructure.
crypto miners Data centers will have equal rights under this bill, while ensuring that no additional requirements are imposed on them. Arkansas’ move echoes a similar initiative in Montana, which aims to protect miners from taxes on digital asset payments and eliminate discriminatory energy rates.
In contrast, Texas is moving towards removing incentives for miners, while New York has imposed a two-year ban on crypto mining activities. At the federal level, President Joe Biden’s budget proposal could potentially impose a 30% tax on electricity costs for US-based crypto miners to curtail mining activity.
bitcoin price
The relentless battle between the optimistic bulls and the cautious bears continues Bitcoin Remains trapped within a narrow trading range between $27,600 and $28,900.
Technical analysis indicates that the BTC/USD pair is displaying a bearish trend. However, it may face resistance near the $28,250 mark.
If bitcoin successfully overcomes this resistance, its price could increase towards $28,900 or even $29,250.
On the other hand, if the downtrend sustains, a key support is expected near the $26,500 and $25,500 levels.
Top 15 Cryptocurrencies to Watch in 2023
To stay up to date with the latest ICO projects and altcoins, it is recommended to frequently check back on this expert-compiled list of the Top 15 Cryptocurrencies to Watch in 2023. Doing so will help you stay informed about emerging trends and opportunities within the crypto market.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
Find the best price to buy/sell cryptocurrency
