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The crypto market is off to a good start at the start of the year. Prices of leading cryptocurrencies like Bitcoin and Ethereum are demonstrating strong bullish sentiments. BTC has been maintaining its green streak for the past few days.
Over the past few weeks, Bitcoin experienced a 10% growth rate in its value. On January 30, the BTC market opened at $23,699 and gained 2.08% in the past 24 hours. It has increased by more than 1.5% from the past week.
According to the IntoTheBlock report, the price of Bitcoin in the first month of 2023 had profited 64% of Bitcoin investors.
Recently, the second largest investment bank Goldman Sachs called Bitcoin the “world’s best-performing asset of 2023.”
Dr.Jeff Ross, the CEO of Vailshire Capital, tweeted his analysis on the Bitcoin price surge. He said there is a probability that BTC will hit $25k soon.
“Digital artifacts” on the Bitcoin network
Recently, the Bitcoin community was divided on whether Non-Fungible Tokens (NFTs) like “digital artifacts” will fit into the Bitcoin space.
The argument for NFT protocol on the Bitcoin mainnet is that digital artifacts will credit economic growth for Bitcoin and increase demand for block space. In contrast, some say it is against the creator of Bitcoin, Satoshi Nakamoto’s vision of a peer-to-peer cash system.
As per the blog post, these digital artifacts can comprise JPEG images, PDFs and audio formats.
On January 25, Wendy Rogers, the Arizona state senator, tweeted about a new cryptocurrency bill. If the bill is passed, Arizona will become the first state in the United States to accept Bitcoin for financial transactions.
US’s first-ever Bitcoin mine powered by nuclear energy
Another great news that drove the BTC price pump is that a nuclear powered Bitcoin mining facility will be established soon.
On January 18, World Nuclear News reported that Cumulus Data, one of the leading makers of zero-carbon data centers and a subsidiary of independent power producer Talen Energy, completed the installation of the 2.5 GW Susquehanna nuclear power station in northeast Pennsylvania.
Bitcoin miners are looking for cheaper and relatively more energy-efficient systems for mining, amid rising energy costs. Nuclear power is a clean and sustainable source of electricity.
These nuclear reactors will also help Bitcoin circulation to investors with environmental and governmental aspirations.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
