On February 8, an expedited hearing is also requested in the motion. Genesis recently offered a liquidation plan to reimburse clients in cash or bitcoin as part of the settlement of an SEC lawsuit regarding its now-defunct Gemini Earn lending scheme.
Depending on the result, asset sales may have a favorable effect on market sentiment and, consequently, Bitcoin prices.
The accusations against Menge and Drabert include theft, with Menge allegedly stealing between $1 million and $1.5 million and Drabert allegedly stealing between $250,000 and $300,000.
This incident may affect the public’s impression of bitcoin operations as U.S. regulators are closely monitoring the energy usage of cryptocurrency miners.
Bitcoin Price Prediction
Bitcoin‘s current technical landscape underscores a critical juncture, with the cryptocurrency trading around $42,885. The asset’s immediate resistance levels are charted at $43,457, $43,844, and $44,335, delineating potential ceilings for upward movements.
On the downside, support is positioned at $42,535, followed by $41,950 and $41,395, marking pivotal zones for price stabilization.
Bitcoin Price Chart – Source: Tradingview
The Relative Strength Index (RSI) hovers around 48, indicating a neutral market sentiment, while the 50-Day Exponential Moving Average (EMA) at $42,710 slightly supports the current price level.
However, a symmetrical triangle breakout below $42,885 suggests an emerging selling trend, steering the short-term outlook towards bearish beneath this threshold.
Top 15 Cryptocurrencies to Watch in 2023
Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments.
Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
The post Bitcoin Price Prediction as $8 Billion Trading Volume Floods In – Time to Buy? appeared first on Cryptonews.