Bitcoin Bull Market: 10 Months of Explosive Growth Predicted

Bitcoin Bull Market: 10 Months of Explosive Growth Predicted

The press release reports on current developments in the area of ​​Bitcoin and cryptocurrencies. It notes that 99% of Bitcoin addresses are currently profitable, sparking debate about the digital currency's future trajectory. PlanB, a well-known analyst, predicts a bull market with a 10-month period of explosive growth, driven by major FOMO (Fear of Missing Out) and the approval of Bitcoin ETFs. The price of Bitcoin is expected to be between $100,000 and $120,000 by the fourth quarter of 2024.

Possible impact and context

PlanB’s bull market prediction and positive outlook for Bitcoin could boost investor interest and confidence. The approval of Bitcoin ETFs is seen as a significant step forward for cryptocurrency adoption. Bitcoin's expected price increase could lead to more investors investing in the currency, viewing it as a store of value and a hedge against inflation.

It emphasizes that the US energy regulator's decision to stop data collection on cryptocurrency mining operations has eased concerns about privacy and economic impact. This could increase the confidence of the mining community and be a positive signal for the further development of the sector.

MicroStrategy's huge increase in profits due to the rise in the price of Bitcoin underscores the successes of some companies and individuals who have invested in the digital currency. This could further increase the interest of large companies in Bitcoin and other cryptocurrencies.

However, it also highlights the challenges of US regulation, which leads to compliance issues and limited trading options. A lack of authorized exchanges and a lack of federal licensing hinders innovation and could threaten the U.S. position in the global cryptocurrency market.

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Bitcoin Bull Market Ignites: PlanB predicts 10 Months of Explosive Growth

Bitcoin analyst PlanB predicts a bull market fueled by intense FOMO. According to PlanB, the end of the accumulation phase signals the ideal time to enter the market based on historical trends following Bitcoin halving events. The approval of Bitcoin ETFs has boosted investor confidence and led to a 22% price increase in the last week.

US Energy Officials and Crypto Miners Reach Agreement to Scrap Mining Survey Data

US energy regulators, in collaboration with the Texas Blockchain Council (TBC) and Riot Platforms, a major Bitcoin mining company, have decided to shut down a controversial survey tracking cryptocurrency mining operations. This decision was made to address concerns about the intrusiveness and potential economic and innovation impact of the survey. All previously collected data will be deleted. This settlement lifts the injunction and reduces the mining community's concerns about compliance costs and invasion of privacy.

Michael Saylor's Bold Bitcoin Bet Pays Off with $1.2 Billion Gain

MicroStrategy's Michael Saylor made a $1.2 billion profit in three days thanks to a surge in the price of Bitcoin. By acquiring 193,000 Bitcoins since 2020, Saylor has put MicroStrategy on track to become a leading Bitcoin investor. The recent rise in Bitcoin's value to $63,918 not only doubled his initial investment but also resulted in a 55% increase in MicroStrategy's share value. Saylor's total assets now stand at over $3.75 billion, underscoring his confidence in Bitcoin's financial potential.

US Crypto Regulation Dilemma: Innovation Stifled in Regulatory Quagmire

The current regulation of the US cryptocurrency market makes it difficult for companies to meet compliance requirements due to conflicting regulations. SEC Chairman Gary Gensler's call for crypto companies to register is hampered by the limited number of licensed exchanges, limiting trading options for registered coins. Fintech companies face similar challenges, relying on banking partnerships to access payment systems while also being subject to strict supervision. The lack of federal licensing limits innovation, although some states offer relief. It emphasizes that Congress must act to create clear, supportive legislation for fintech and cryptocurrencies and ensure their growth in the global market.

Bitcoin Price Prediction

On March 2nd, Bitcoin is showing a compelling technical picture, moving between bullish and bearish areas. The pivot point at $60,824 is a crucial pivot point, with resistance and support levels defining potential market directions. Immediate resistance lies at $63,927, indicating a limit to the upside. The support at $58,982 provides a backstop in bearish scenarios. The Relative Strength Index (RSI) is at 69, suggesting cautious optimism, while the 50-day Exponential Moving Average (EMA) at $56,307 suggests continued buying interest. The market is in a sideways movement between $63,350 and $60,800, signaling cautious optimism. A break above $63,500 could signal further gains, while a fall below this range could signal a retest of lower support levels.

Green Bitcoin: Embrace Eco-Friendly Crypto with Gamified Staking

Green Bitcoin combines environmental protection with digital currencies and offers the concept of gamified green staking. In addition to tempting rewards, this concept offers a double token bonus and emphasizes environmental responsibility in every transaction. Green Bitcoin's roadmap includes a presale, staking rewards, marketing activities, liquidity and community rewards. The goal is to support a sustainable financial ecology and provide a dynamic market experience. Anyone interested can participate in Green Bitcoin and be part of a responsible future.