Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Bitcoin Price Prediction: Can BTC Beat Gold?

With Bitcoin's price hovering around $66,400, experiencing a minor 0.50% dip, all eyes are on its next moves
April 23, 2024

With Bitcoin’s price hovering around $66,400, a new class-action lawsuit threatens to reshape the landscape of U.S. Bitcoin mining. President Biden's proposed 30% excise tax on Bitcoin mining electricity could significantly impact the sector, potentially pushing miners out of the U.S. and contradicting sustainable energy goals.

The lawsuit, filed on April 19 in Ontario’s Superior Court of Justice, accuses Binance of security law violations. Critics argue this tax could hinder industry growth and sustainability, possibly shifting mining activities to countries with less stringent environmental standards.

On a different note, Hut 8, a major player in Bitcoin mining, is gaining a competitive edge with a new self-mining strategy. Despite the recent Bitcoin halving, U.S. cryptocurrency stocks, including Marathon Digital, Riot Platforms, and Hut 8, experienced gains, signaling investor confidence in the long-term viability of cryptocurrencies.

Moreover, U.S. spot Bitcoin ETFs saw an influx of $59.7 million in investments after a week of declines, while Grayscale’s GBTC approaches 300,000 Bitcoin holdings. These developments suggest a potential market rebound and continued institutional interest, which could significantly influence Bitcoin’s future trajectory.

As for Bitcoin’s price prediction, technical indicators suggest a nuanced outlook. While the Relative Strength Index (RSI) hints at potential buying momentum, a downward trendline near the $67,000 mark presents resistance. Breaking above this threshold could signal a shift to a more bullish outlook, while remaining below might reinforce bearish sentiments.

In the midst of these developments, 99Bitcoins is pioneering cryptocurrency education with its ‘learn-to-earn’ system, offering $99BTC tokens through its presale event. This presents a prime opportunity for early investors to maximize potential future gains and unlock exclusive community benefits. With just a few days left until the next price increase, now is the time to invest and secure your $99BTC tokens at favorable rates.

More about: 

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram