Several reasons, including more business adoption and increased demand from Bitcoin ETFs, promote rising Bitcoin prices. Market analysts anticipate that Bitcoin will reach $100,000 by the end of 2023, although numerous others believe it will happen in Q1 2022. Others are cautious to pick a precise date or year, predicting that Bitcoin would not be worth more than US$70,000 by the end of 2022.

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Since striking its ATH on 10 November, BTC consistently marked lower peaks. As the fear sentiment kept surging, the largest crypto witnessed multiple sell-offs that hindered its recovery phase. Ever since BTC broke out of the bearish flag, it found reliable support at the golden 61.8% Fibonacci level for the past month.

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Now, as the recent up-channel saw a breakdown from the $52,000-mark, the king coin marked lower peaks while ensuring the $45,700-level. This trajectory indicated an increasing selling power. Meanwhile, as the fear and greed index plunged below the 25 mark, BTC fell below its 20-50-200 SMA.

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Although the RSI saw higher toughs, it continued to find resistance near the half-line. However, while the price marked lower peaks since 28 December, the OBV was upturned. This reading hinted at a possible reversal. Besides, the ADX displayed a weak directional trend for the crypto.

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Bitcoin fear and greed index on Wednesday, January 5, 2022, went from the fear level of 23 to the level of 24 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading around $46,384.03, up  0.14%. In the last 24 hours, the highest it touched was $47,406.55 and the lowest was $45,752.46. Bitcoin has a current market cap of $877,617,979,685. It has a circulating supply of 18,920,325.00 BTC coins and a maximum supply of 21,000,000 coins.

Individual creators can access Nvidia’s Metaverse-building software for free

At the Consumer Electronics Show in Las Vegas on Tuesday, Nvidia made Omniverse, its real-time 3D design collaboration and virtual world simulation platform, available free to individual creators and artists. The tech giant also rolled out new features and integrations for the product, which the company has dubbed the “metaverse for engineers.” Omniverse launched in beta early last year and a paid subscription version for enterprises followed in November. Nvidia says Omniverse has been downloaded by over 100,000 creators.

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OpenSea valued at $13.3 billion in $300M funding round

The leading NFT marketplace OpenSea announced Tuesday it has raised $300 million in a Series C funding round and is now valued at $13.3 billion. The round was led by venture capital firms Paradigm and Coatue. In a blog post announcing the funding, OpenSea co-founder and CEO Devin Finzer said the money would be used to ramp up product development and hire more staff while improving customer support and helping grow the larger NFT and Web3 space. “Our vision is to be the destination for these new open digital economies to thrive,” Finzer said in an emailed statement. “We’ll start this year by lowering the barriers to entry to the NFT space on OpenSea and investing in the ecosystem and the community that powers it.”

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El Salvador is drafting 20 bills to provide a legal framework for Bitcoin bonds

El Salvador’s government, led by President Nayib Bukele, has moved ahead with plans to issue Bitcoin bonds by preparing 20 bills designed to provide a legal framework for them. Head of the Treasury Alejandra Zelaya told El Salvadoran media, El Mundo, on Jan. 4 that the bills will cover regulations about issuing securities as cryptocurrency to ensure the viability of the Bitcoin bonds that were proposed in Nov. 2021. However, he did not propose a timeframe for the legislation to be submitted to lawmakers.