Bitcoin Price Prediction as 24-Hour Trading Volume Blasts Past $30 Billion – BTC to the Moon?
Bitcoin is one of the most popular cryptocurrencies in the world. Its price has been on a roller coaster ride over the past few months, with its 24-hour trading volume recently blasting past $30 billion. This has led to speculation that Bitcoin could be headed for the moon.
Let's take a look at all the fundamentals that are driving the price action of the BTC/USD pair.
Blockstream, a provider of digital asset infrastructure, has raised $125 million to fund its Bitcoin mining co-location services, demonstrating the rise in demand for institutional hosting during the bear market.
Blockstream announced on January 24 that the financing was backed by a convertible note and a secured loan. Furthermore, the funds will be used to expand the firm's bitcoin mining operations. Bitcoin users are financially rewarded for securing the network through mining.
Miners use special, energy-intensive technology to create Bitcoin's next block, for which they are rewarded with a fixed amount of Bitcoin.
As Bitcoin's market value falls, so do the dollar-denominated profits available to miners, forcing all but the most cost-effective firms to exit the market. The typical miner, however, may profit from the recent BTC/USD surge.
Two new rewarded games have been released by ZEBEDEE, a gaming payment service, and VIKER, a mobile games company. ZEBEDEE, a bitcoin-powered gaming 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. It implies that you can now earn bitcoin by playing chess on your phone.
Furthermore, by utilizing Zebedee's payment technology, these new releases adhere to Viker's goal of updating well-known classic
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