This week, Bitcoin has been making waves as it continues to make its way toward a new all-time high. Currently trading at $21,350, many investors are curious if the digital asset can break through the $23,000 resistance level and why that matters for the cryptocurrency’s future.
Bitcoin’s market cap now totals more than $411 billion and its value experiencing a strong surge, having rocketed over 22% in the last seven days. The overall crypto market experienced an uptrend after Ukraine’s deputy prime minister made a remark.
Mikhail Fedorov is looking to make his nation the go-to place for crypto assets after a successful fundraising campaign during wartime conditions. He wants to put his country on top of the global scene with regard to virtual currency.
Ukraine’s Deputy Prime Minister Wants To Be Paid In CBDC
Ukraine’s deputy prime minister is optimistic about the upcoming Central Bank Digital Currency (CBDC) and has declared his desire to be the first user of it. He even wishes to receive his salary in e-hryvnia and made this comment at the World Economic Forum.
Ukraine's digital minister @FedorovMykhailo says he'll take his salary in a planned new central bank digital currency (CBDC), as he seeks to make Ukraine a world leader in crypto. @jackschickler reportshttps://t.co/BoNqfQY51d
— CoinDesk (@CoinDesk) January 17, 2023
Minister Mykhailo Fedorov of Ukraine has determined that by introducing new regulations concerning cryptocurrencies, they can become one of the foremost nations in terms of crypto asset legislation. Furthermore, this success is further reinforced by the fact that they managed to acquire financial support for their military using digital currencies.
Recently, he announced that Ukraine is launching a CBDC in partnership with Stellar and that he had observed a demonstration of the digital currency called e-hryvnia two weeks ago. He communicated this through an interpreter. I’m really excited to be the first person to use the electronic hryvnia, and I intend to receive my salary in this form of payment.
Only in: Ukraine Deputy Prime Minister: I will take the salary at the CBDC.
— COINHAPS (@CoinHaps) January 17, 2023
Ukraine is deliberating if they should release a digital form of fiat currency and the European Union will be introducing legislation regarding a digital euro in 2021. This is just one of the numerous countries evaluating this new digital money movement across the globe.
Last year, Ukraine passed a law regarding virtual assets, shortly after Russia’s invasion. This law will be reinforced by a new tax policy related to cryptocurrencies, as well as a Central Bank Digital Currency (CBDC) law scheduled to come into action next year. Fedorov spoke of the importance of such regulations.
Bitcoin Price Prediction
Bitcoin’s potential to revolutionize the finance industry has been gaining traction among investors and traders, so it is possible that it might be able to break past its key resistance level. This could lead to huge changes in the global economy. The current Bitcoin price is $21,342, and the 24-hour trading volume is $25 billion.
Bitcoin has increased by nearly 22% in the last seven days. CoinMarketCap currently ranks first, with a live market cap of $411 billion. The crypto market has been soaring to new heights this year and is expected to rise further.
Some analysts think it can even reach a record high of $23,000 if the bullish trend continues its upward path. The current momentum already pushed the market to an estimated $21,000 which could be a sign of greater potential in the near future.
Bitcoin Price Chart – Source: Tradingview
Bitcoin has been steadily increasing and broke the $20,500 barrier. This is serving as a robust base for further growth in the market. Its current rise is predicted to take it to the $21,000 level with a possibility of reaching up to $23,000 – an exceptional milestone. The immediate support mark tends to be around $20,500 or $20,000.
The RSI and MACD are both saying that $21,500 could be a price ceiling for BTC. If the price does not break above this level, it is probable that it will start to fall. It’s therefore important to keep a close watch on this decisive moment.
Altcoin Investing: Cryptocurrencies With Major Growth Potential Right Now
At the moment, there are numerous altcoins that have the potential to grow substantially. Investing in these digital assets can not only bring good returns but also diversification benefits to one’s portfolio. Let’s take a look…
Meta Masters Guild (MEMAG)
Last week marked the beginning of the presale for Meta Masters Guild – a mobile gaming guild with Web3 and play-to-earn games. Using their in-house token, MEMAG, users can purchase it in seven phases.
The starting point for MEMAG is priced at $0.007 per token, enabling users to store and trade them for rewards in Ethereum-compatible activities that use NFTs (non-fungible tokens). This offers exciting opportunities to win amazing prizes.
MEMAG investors have the potential to reap big rewards with a return of 228.5%. Its price is set to skyrocket from $0.007 to $0.023; investing in Meta Masters Guild now is an excellent opportunity to get in early before it goes public.
Meta Kart Racers, the first game from the company, is slated to launch in the second quarter of 2021, and its release could have a big impact on its growth. And if the world market and economy keep getting better, it will definitely help their coin.
Fight Out (FGHT)
FightOut is a special program that uses blockchain technology to reward users for staying fit and active. By joining their gym chain, you can earn rewards for being healthy and motivated. Fight Out creates a strong sense of community and togetherness in local and online fitness networks.
With the use of this app, members can join challenges, benefit from customized training plans, and track their progress along the way. Through Fight Out, people are able to reach higher levels of fitness while at the same time benefiting from the use of Web3 technology and helping create a brighter future. Their FGHT coin presale has seen great success, with close to $2.9 million already raised.
Don’t miss out on the opportunity – you only have 7 days and 7 hours to take advantage of this offer before prices go up or until coins run out! Grab it now while you still can.
C+Charge (CCHG) is a blockchain-based network that rewards owners of electric vehicles for charging and using them. Its native token, CCHG, is currently available for purchase. Electric vehicles have grown in popularity around the world in recent years.
The electric vehicle (EV) sector has emerged as a more ecologically friendly alternative to the existing automobile industry, which has long been in need of transformation. People may now buy EVs and participate in the green revolution thanks to firms like Tesla, Rivian, and others.
To demonstrate its scalability, the network has already committed to connecting 20% of Turkey’s EV chargers. 1 CCHG costs $0.013 and is available in BNB or USDT. So far, the presale has raised $308,800.
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Meta Masters Guild - Next Big Crypto Game
- Backed by Leading Game Studios
- Early Round Presale Live Now
- Low Hard Cap, No Vesting
- Playable NFTs, Rewards, Staking
- Solid Proof & CoinSniper Audited