Bitcoin and Ethereum Price Predictions: Weaker US Wage Growth Triggers Upside Moves
On January 9, the Bitcoin price prediction became bullish, with BTC rising nearly 1.50% to $17,223. Similarly, Ethereum, the second-largest cryptocurrency, soared nearly 3.50% to $1,310 during Monday's Asian session.
Marathon Digital Holdings, one of North America's largest Bitcoin mining companies, revealed in an update that it has been experimenting with overclocking in order to improve its strategic advantage in the BTC mining sector.
Overclocking is a technique for increasing the clock speed of a computer's CPU or GPU beyond the manufacturer's recommended maximum speed. It may lead to improved performance in some tasks.
Marathon claimed in a press release on January 5 that it produced 475 BTC in December 2022, bringing its total amount of mined Bitcoin for the fiscal year 2022 to 4,144 BTC. It represents a 30% increase over the 3,197 BTC produced in 2021.
According to its most recent update, the company now has over 69,000 active miners capable of producing approximately 7 exahashes per second. Marathon Digital's success in the Bitcoin market is largely due to its collaboration with Silvergate Bank, a provider of banking and liquidity solutions to the digital currency market. That is also good news for the BTC/USD price.
According to government data released on January 6, the economy added more jobs than experts predicted in December. Employee earnings have only grown at a slower rate. The rate of wage growth slowed in December compared to the previous month, indicating that the Federal Reserve's initiative to combat inflation by raising interest rates is cooling the economy.
According to the labor department, the country added 223,000 jobs in December, compared to 256,000 the month before. The unemployment rate
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