Both Bitcoin and Ethereum experienced a minor increase in value, with BTC crossing the $20,000 threshold and ETH crossing the $1,400 threshold. Yet, this continuous moderate rise in cryptocurrency value could be due to the US dollar’s depreciation, which followed February’s labor reports showing weaker wage growth.
The adoption of Ordinal, a Layer 2 solution, is also broadening the scope of the Bitcoin network’s use cases beyond simple BTC exchanges. Although there are conflicting views on the use of Ordinal in the Bitcoin community, its growing acceptance and possible effects on the Bitcoin network may affect the way things are done for miners of the cryptocurrency.
By making quick and affordable transactions possible, Ordinal has the potential to enhance acceptance of Bitcoin while also lightening the network’s strain. In the end, this might boost BTC miners’ productivity and profitability. This has been noted as one of the crucial elements that might aid in BTC regaining its strength and rising in price.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 24,329.02 |
Bitcoin Price Prediction
The current live price of one bitcoin is $21,515 with a $22.8 billion 24-hour trading volume. The price of Bitcoin increased 5.00% in the last day. With a $415 billion live market cap, it is the current leader on CoinMarketCap.
Bitcoin has retraced from the $19,850 support level. If it had fallen below this line, selling pressure might have been released, causing a further slump towards the $16,400 mark.
On the other side, the $21,700 resistance level is the first obstacle for Bitcoin. If Bitcoin crosses above this point, it would spark purchasing interest and possibly drive its price up to the $23,175 mark.
There is a chance that Bitcoin might possibly cross the $25,150 level if the positive trend keeps on.
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