Bitcoin’s $40 Billion Trading Volume Sparks Speculation Of Its Future Price

In contrast to the previous week this week has seen a massive rebound in the price of Bitcoin.

As the price of Bitcoin rises, the overall market capitalization of the cryptocurrency market has increased this week.

The market has seen an increase in Bitcoin’s price, but its market cap has also seen an influx as it is estimated at $40 billion.


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Currently exchanging hands at $24,372.00, Bitcoin (BTC) has experienced a decrease of less than 1% in its price over the past 24 hours.

Despite the fact of today’s decline, the current price of BTC is still 11% higher for the past 7 days.

The world’s most famous cryptocurrency has regained the spotlight due to this surge. Investors are actively seeking the next crucial levels to monitor.

Given below are some key fundamental factors that can make or break the price of Bitcoin moving forward.

SEC’s Crypto Related Regulations

According to regulators, the biggest threat to cryptocurrency is regulatory pressure posed by SEC.

It is worth mentioning that SEC tends to treat cryptocurrencies as securities.

This shows that SEC is on purpose creating such sort of regulations which are meant to create the digital money market.

A famous crypto news writer Matt Levine also argued that it is possible that “regulatory investment advisors might also participate in the regulation of cryptocurrencies.

SEC also said its financial advisors to formulate regulations against the cryptocurrency marketplace.

If SEC regulations hit the market hard it is possible that the cryptocurrency market once more becomes bearish.


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Bitcoin Ordinals Are the Sign of Encouragement

These are distinct coins that are backed by the tiniest of the price of Bitcoin. It can be said that Ordinals are synonymous with NFTs and share the same uniqueness.

Currently, over 150,000 Ordinals tokens are circulating in the market, till the end of Jan 2023, the demand for these coins was high.

The Ordinal Bitcoins enhanced the utility of Bitcoin protocol by introducing the concept of Bitcoin NFTs.

This could augment the security of the Bitcoin protocol. Moreover, the increased number of the used case means Bitcoin Ordinals developers can further introduce more unique features.

The more the Bitcoin Ordinal coins will be used for minting NFTs, the higher the price of Bitcoin (BTC) will be.

Bitcoin Ordinals Are the Sign of Encouragement

These are distinct coins that are backed by the tiniest of the price of Bitcoin. It can be said that Ordinals are synonymous with NFTs and share the same uniqueness.

Currently, over 150,000 Ordinals tokens are circulating in the market, till the end of Jan 2023, the demand of these coins was high.


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The Ordinal Bitcoins enhanced the utility of Bitcoin protocol by introducing the concept of Bitcoin NFTs.

This could augment the security of the Bitcoin protocol. Moreover, the increased use case means Bitcoin Ordinals developers can further introduce more unique features.

The more the Bitcoin Ordinal coins will be used for minting NFTs, the higher the price of Bitcoin (BTC) will be.

Bitcoin Price Now and Then  

Currently, the price of Bitcoin has shown a sideways movement. Currently, the price range of Bitcoin is subjected to the $23,700 to $25,200 mark.

The immediate level of resistance of Bitcoin is set to $26,000. However, the key technical indicators for the price, RSI, and MACD both are showing a discrepancy.

At the time of this writing, BTC’s RSI has surpassed the 50 mark. This indicates that currently Bitcoin is facing buying pressure.

This means possible bull is waiting above the $26k mark. In contrast to RSI, MACD is replicating the histogram pattern.

This means that MACD is current at 0. The zero MACD is a sign of strong selling pressure on Bitcoin. The reason that there is a contradiction between RSI and MACD is due to the uncertainty of investors.


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Investors are not whether they should go hard on buying Bitcoin or they should avoid buying bitcoin.

It seems that investors likely to wait until the first week of March and wait for the feds to make a clear decision about what is their take on the current policy rate.

In case the Feds raised the interest rate, this forced the Bitcoin price to go down. If Bitcoin dropped from its current price level, the stop for it would be around $22,850.

This marks the 50% Fibonacci retracement level. Investors will also be waiting for the next FOMC meeting before making the final move.

As the things stand, Bitcoin seems to have promising times ahead, but due to the volatile nature of the cryptocurrency market, it is a foolish practice to be certain about the future.

Hence, investors need to follow the daily price hikes before investing in Bitcoin.


Chip Timing Global is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


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