Bitcoin (BTC) price is digesting the previous week’s sales well for now and is rising further northwards in the final hours of trading. Moreover, Bitcoin dominance can prevent the formation of a new annual low for the time being.
Currently, Bitcoin (BTC) price is $62,532.97 with a market capitalization of $1,179,082,611,087, putting it in position 01 of the global cryptocurrency rankings.
History of bitcoin
Satoshi Nakamoto, a pseudonymous person, became known in 2009 as the creator of Bitcoin. As it turned out, his creation of a blockchain-based currency that ensures maximum transparency and security at the same time as simultaneously being scientific was regarded as highly “INCREDIBLE” and caused a great deal of turbulence during ICO pricing!
A Bitcoin transaction is verified and added to the system through the mining process, which releases it into circulation.
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Bitcoin (BTC) price prediction
Currently, there is a level of resistance at $63,470.9, the next resistance will be 63, 864.1, and a strong support level will be $61,903.1 and afterward $61,512.5.
If Bitcoin (BTC) price fails to break through this resistance level, the price may retest the current support levels before further descending to the next support level of $61,903.1. A break of this level may lead Bitcoin to move down further to $61,512.5.
It’s apparent that Bitcoin (BTC) price is likely to move downwards from its current level, with bearish indicators showing. The price of BTC will likely move towards $61,512.5 in the near future.
Bitcoin Current updates
- Marathon Digital’s BTC is now worth $457M thanks to Bitcoin mining:
Marathon Digital Holdings, one of the largest bitcoin self-miners in America, announced an increase in its total bitcoin holdings on its October update of the company’s bitcoin production and mining operations. According to Company officials, the company mined 417.7 bitcoins in October, increasing its total bitcoin holdings to about 7,453 BTC.
- Holdings of Bitcoin Whales hit record high after $BTC price surges:
In anticipation of fiat currency inflation getting out of hand, bitcoin whales have been accumulating BTC while fearing it may lose its appeal this year. ‘Chainalysis’ report, first spotted by CoinDesk, shows bitcoin whales acquired 142,000 bitcoins last week, pushing their total holdings close to the 200,000 mark, a recent high.