Bitcoin Price Prediction – How High Can BTC Go in 2023?
Bitcoin price prediction remains bullish after recovering above the $16,450 level. Bitcoin (BTC) and Ethereum (ETH), the two most valuable cryptocurrencies, have failed to break out of their consolidation phase and are now trading at around $16,000 and $1,100, respectively.
However, the reason for its downward rally could be attributed to the bearish cryptocurrency market, which tends to support riskier assets like Bitcoin (BTC) and Ethereum (ETH). Dogecoin (DOGE) and Solana (SOL), two popular cryptocurrencies, are also down on the day.
Along with this, the currency's slow price movement could be attributed to ongoing financial insecurity and the COVID concern, which are deterring investors from riskier assets.
For quite some time, the cryptocurrency market has been plagued by serious issues. As a result of the escalating economic issues, the majority of cryptocurrency users have liquidated or intend to liquidate their cryptocurrency wallets.
Argo Blockchain (ARBK) has decided to sell its Helios mining operation in Dickens Country, Texas, to Galaxy Digital for $65 million, thereby avoiding bankruptcy.
The miner will also receive a new $35 million loan from well-known investor Michael Novogratz's financial services company that specializes in cryptocurrencies, which will be backed by Argo's mining equipment, according to a statement.
However, the investment will assist Argo in strengthening its financial position and avoiding bankruptcy after a proposal for $27 million in financing fell through in October.
The miner announced earlier this month that it was in serious talks to sell some of its assets and complete an equipment financing arrangement in order to avoid Chapter 11 bankruptcy. As a result, this news appears to be
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