In the last days Bitcoin ($BTC) good news is piling up. Meanwhile, the price has broken through the critical mark of 27,000 US dollars, so that further price increases are possible.
Overall, bitcoin is up more than 60% this year and has the potential to break out to the upside. It also depends on the SEC lawsuits against Binance and what the overall market environment is like.
Major financial companies are getting into cryptocurrencies
It is clear that other cryptocurrencies will also benefit if the Bitcoin environment is positive. Coin launches are also much more successful when the Bitcoin price is positive.
After the announcement of major financial companies such as Citadel, Fidelity, Schwab and Blackrock into the crypto market and into Bitcoin, the prices of new crypto currencies are increasing in a wide range.
BlackRock asset manager files for bitcoin ETF https://t.co/PfTzS7RRd9 pic.twitter.com/3W0i8YLk6T
— Reuters (@Reuters) June 16, 2023
The New iShares Bitcoin Trust which is at Coinbase Custody hung up. This stems from Black Rock’s application to the US Securities and Exchange Commission (SEC).
be through Exposure to Bitcoin Blackrock brings some security to the crypto market. This also attracts investors who are not yet invested. Buying cryptocurrencies is more complicated than investing in an ETF, especially with a well-known company like Blackrock.
BlackRock is looking to acquire the first spot Bitcoin ETF launched in the US https://t.co/sOahJ8bpUE
— Bloomberg Crypto (@crypto) June 16, 2023
Blackrock has been running a private fund to invest in Bitcoin since last year. However, the fund is not publicly available, but intended for some customers only.
The iShares Bitcoin Trust allows investors to invest in Bitcoin without buying Bitcoin themselves. This is easier, safer and requires no knowledge of how to create a Bitcoin wallet.
Which cryptocurrencies benefit from Bitcoin?
The entry can pull up the price of Bitcoin significantly. However, new and promising crypto companies are taking advantage of one positive bitcoin rate often even more than Bitcoin itself. So it’s worth looking at the bigger picture.
At the same time, the number of wallets in which Bitcoin is stored is currently increasing. This expands the market and more investors enter the crypto market. Leadership inevitably to higher rates, not only for Bitcoin, but for many cryptocurrencies.
NFTs offer many opportunities for Bitcoin
Parallel to the good news about Bitcoin, there is also Bitcoin blockchain technology updates. Bitcoin directives allow data to be stored in the descriptions of the blocks on the bitcoin blockchain. This data can be used, for example, for mining NFTs.
— Ordinal News 🟠 (@Ordinal_News) June 12, 2023
This is already underway, so that Bitcoin can be used not only as an investment object, but also to provide apps in the blockchain and store NFTs. This also brings the Bitcoin price up.
It could therefore be quite possible that the Significant increase in NFTs in future takes place within the Bitcoin blockchain. NFTs are deployed on the Bitcoin blockchain as signal BRC-20 using bitcoin orders.
Data from an NFT or other register is written on satoshi labels, the smallest unit in Bitcoin.
THE 1st CryptoPunk EVER, Punk #8611 came safely to Bitcoinhttps://t.co/RMQn5Ayzk0
— Bitcoin Bandits (@banditsbtc) June 18, 2023
What is the Bitcoin forecast and which cryptocurrencies are still benefiting from it?
Meanwhile, Bitcoin is the EMA100 (100 day moving average) 26,384 was breached and there is currently momentum above 27,400. This time the resistance seems to be broken, and indeed it is durable.
The IS 50 day moving average (EMA50) at this level for Bitcoin and it needs to be sustainably broken so that the rest of the crypto market also rises and Bitcoin ultimately continues to rise.
Since the EMA50 is currently broken, it is heading towards US$ 29,000 and possibly even above US$ 30,000. However, this also shows that Bitcoin is only making small steps forward at the moment, as there is a lot of resistance that needs to be broken first.
Chimpzee – The new meme coin in the crypto sky?
Altcoins and meme coins in particular also benefit from bitcoin’s strength. The Chimpzee crypto project is running particularly well at the moment. The project needs participants encourage people to invest in animal welfare and environmental protection.
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— Official Project Chimpzee (@RealChimpzee) June 8, 2023
The new meme coin is not only another meme coin in the ranks of successful coins, but also campaigns for sustainability and environmental protection.
The Chimpzee project is currently in the pre-sale phase. So far, some voluntary targets have already been achieved, for example planting 20,000 trees.
The project team has earmarked 10% of the signage supply and part of the project’s profits for organizations committed to protecting our environment.
Cryptocurrency with potential 2023
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