Bitcoin Price Prediction – Is BTC About to Surge 20%?
Bitcoin price prediction remains neutral to slightly bullish, as technical indicators indicate investor indecision. The BTC/USD pair is trading in a narrow range of $19,210 to $19,000.
The cryptocurrency market is devoid of volatility, and investors appear to be waiting for a solid fundamental reason to trigger breakouts.
Let's start with the news highlights, and then I'll go over the technical outlook to determine price prediction.
As the conflict between Russia and Ukraine worsens, so does the volume and intensity of cryptocurrency activity.
New York-based blockchain analysis firm Chainalysis released a report on the rapidly expanding use of crypto, the vast majority of which is illegal in origin, in Eastern Europe as a preview of its forthcoming 2022 Geography of Cryptocurrency Report.
Residents of both countries began engaging in significantly more activity shortly after Russia's invasion of Ukraine in February. Economic conditions deteriorated during the height of the conflict, resulting in suffocating price increases.
Chainalysis found that people in Russia suffering from the economic sanctions imposed by many countries as a form of criticism for the invasion were more likely to hold stablecoins than any other type of digital asset.
According to the research organization, Russia's volume of stablecoin transactions rose from 42% in January to 67% in March. Overall, crypto activity in the country has increased since then.
Elliptic, a blockchain analytics business, found that the country received $63 million in Bitcoin and other cryptocurrency donations in the two weeks following the invasion. According to a story published by the Financial Times in 2022, cryptographic assistance to Ukraine has already surpassed the $100
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