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Bitcoin is one of the most popular cryptocurrencies in the world. Its price has been on a rollercoaster ride over the past few months, with its 24-hour trading volume recently surpassing $30 billion. This led to speculation that Bitcoin could be heading for the moon.

Let’s take a look at all the fundamentals that drive the price action of the BTC/USD pair.

Blockstream raises $125 million for Bitcoin mining

Blockstream, a digital asset infrastructure provider, raised $125 million to fund its bitcoin mining colocation services, demonstrating the surge in demand for institutional hosting during the bear market.

Blockstream announcement on January 24 that the financing was backed by a convertible note and a secured loan. Additionally, the funds will be used to expand the company’s bitcoin mining operations. Bitcoin users are financially rewarded for securing the network through mining.

Miners use special power-intensive technology to create the next block of Bitcoin, for which they are rewarded with a fixed amount of Bitcoin.

As the market value of Bitcoin declines, the dollar profits available to miners also decline, forcing all but the most profitable companies out of the market. The typical miner, however, can take advantage of the recent surge in BTC/USD.

Fun games to earn bitcoin from the comfort of your home

Two new award-winning games have been published by ZEBEDEE, a game payment service, and VIKER, a mobile game company. ZEBEDEE, a Bitcoin-powered game payment processing system, announced the launch of two classic VIKER games with a Bitcoin twist on January 18.

The most recent additions are Bitcoin Chess and Bitcoin Scratch. This implies that you can now earn bitcoin by playing chess on your phone.

Additionally, using Zebedee’s payment technology, these new releases adhere to Viker’s goal of updating well-known classic games with a modern twist.

Both games are now available on iOS and Android, and users can log into their Zebedee accounts to transfer rewards from the Viker app to the Zebedee app. The new games center around Bitcoin, a cryptocurrency that does not require users to have a bank account to receive their winnings, but rather a BTC deposit address.

This can increase bitcoin’s popularity among new players, which is good for BTC/USD.

South Africa: New Guidelines to Ensure Transparency in Crypto Advertising

The South African Advertising Regulatory Board (ARB) updated its guidelines for cryptocurrency advertising on January 23. The new policy aims to increase transparency while protecting South Africans from unethical advertising.

Ads must state that investing in cryptocurrency involves risk of financial loss due to its volatile and unpredictable value, according to the Advertising Code of Practice.

Therefore, advertisements for cryptocurrency assets must clearly state that “investment in crypto assets may result in capital loss”.

Additionally, a new provision added to Section III of the South African Advertising Code requires businesses and individuals to comply with advertising requirements to offer cryptocurrency products and services.

As a developing country, South Africa’s efforts to regulate and manage cryptocurrency advertising indicate an increase in global acceptance. Additionally, the updated code will increase transparency, which could benefit Bitcoin (BTC), the most valuable cryptocurrency.

bitcoin price

Bitcoin is currently valued at $23,186 and has a 24-hour trading volume of $30 billion. Bitcoin has fallen nearly 1.50% in the past 24 hours. With a live market worth $446 billion, CoinMarketCap currently ranks number one.

Bitcoin recently fell to the $22,325 support level and its closing Doji candles above this level indicate that there is still potential for a bullish bounce.

The current resistance level of Bitcoin stands at $23,250 and if it breaks above this value, the price of the digital token could rise up to $23,900 and $25,150.

Bitcoin price chart – Source: Tradingview

If the $22,325 benchmark were broken lower, there could be further bearish movement in the market. This could cause Bitcoin to decline to as low as $21,500 and likely even reach a low of $20,450.

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Bitcoin Alternatives

CryptoNews recently reviewed the top 15 cryptocurrencies for 2023, and if you’re looking for more lucrative investment opportunities, there are several more worth considering.

Regularly, altcoins and ICOs are reviewed and updated to reflect recent events in the cryptocurrency industry.

Disclaimer: The Industry Talk section features information from crypto industry players and is not part of the editorial content of

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Cryptocurrency Price Tracker – Source: Crypto news

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