Since the start of 2023, bitcoin (BTC-USD) has surged 37% to $22.83K and ethereum (ETH-USD) jumped 3…
Since the start of 2023, bitcoin (BTC-USD) has surged 37% to $22.83K and ethereum (ETH-USD) jumped 33.6% to $1.62K. The cost of Bitcoin rose to its highest level in five months over the weekend, giving cause for optimism regarding the crypto sector’s recovery.[0] Bitcoin hit a new yearly peak of $23,428 before undergoing a bearish correction. The recent surge of investment into short products was triggered by bitcoin (BTC)’s four-month high of over $22,000 last week.[1]
Due to its potential for long-term growth as a store of value, Bitcoin is gaining more and more attention as an investment option. Since its introduction in 2009, Bitcoin has become the most valuable cryptocurrency and has continued to grow in popularity. Investors are beginning to recognise Bitcoin as a valuable long-term investment due to its potential for large monetary gains in the future.
Vespene and XcelPlus, two new entrants in the cryptocurrency arena, are utilizing landfill methane to generate the large amounts of energy required for mining Bitcoin.[2] The environmental impact of crypto mining can be greatly reduced by using emissions.[2] Miners can travel to any location in the world in their search for resources, as landfills are present on a global scale.[2]
The global crypto market cap has once again crossed the $1 trillion mark, after closing 2022 below $790 billion.[3] In August 2021, Talen Energy signed a partnership with the U.S. crypto mining company TeraWulf, which first unveiled their plans to construct the zero-carbon Bitcoin mining centre, known as the Nautilus Cryptomine, on the campus.[4] In December of 2022, the building of the Bitcoin mine was halted temporarily, however, TeraWulf recently declared that they have begun to increase their mining business and plan to have a 50 megawatt effective mining capacity in the first quarter of 2023.[5]
On Saturday, the world’s most valuable cryptocurrency, Bitcoin (BTC), briefly rose to a value of $23,000 before dropping by approximately 1% to around $22,755.68 at the time of this writing.[0] The price of Ether, the second most valuable cryptocurrency, rose 1% from Saturday.[0] The price of Bitcoin rose significantly beyond the $21,500 resistance level.[6] The price of BTC surged and even surpassed the $22,000 mark, similarly to Ethereum at $1,550.[6]
0. “Bitcoin surges past $23k, reaches highest since August” www.techcircle.in, 23 Jan. 2023, https://www.techcircle.in/2023/01/23/bitcoin-surges-past-23k-reaches-highest-since-august/
1. “Inflows Into Short Bitcoin Products Picked Up Alongside Rally …” www.msn.com, 23 Jan. 2023, https://www.msn.com/en-us/money/markets/inflows-into-short-bitcoin-products-picked-up-alongside-rally-coinshares/ar-AA16EjC8
2. “Bitcoin Miners Turn to Landfills to Power Quest – Recyclean” www.recyclean.in, 23 Jan. 2023, https://www.recyclean.in/wp/bitcoin-miners-turn-to-landfills-to-power-quest/
3. “Bitcoin Shoots Up 30% Since Jim Cramer’s Call To ‘Get Out’ Of Crypto” www.msn.com, 23 Jan. 2023, https://www.msn.com/en-us/money/other/bitcoin-shoots-up-30-since-jim-cramer-s-call-to-get-out-of-crypto/ar-AA16EhoM
4. “Cumulus Data takes U.S. Bitcoin mining nuclear | Kitco News” www.kitco.com, 23 Jan. 2023, https://www.kitco.com/news/2023-01-23/Cumulus-Data-takes-U-S-Bitcoin-mining-nuclear.html
5. “Bitcoin Mining Using Nuclear Power” www.cointrust.com, 23 Jan. 2023, https://www.cointrust.com/market-news/bitcoin-mining-using-nuclear-power
6. “Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn’t Over Yet …” www.bitcoininsider.org, 23 Jan. 2023, https://www.bitcoininsider.org/article/202249/bitcoin-bulls-keeps-pushing-why-btc-price-increase-isnt-over-yet
