Bitcoin

Bitcoin Forecast: Price Rally to $52,250 With Coinbase Pivot & VC Investment Surge; Will BTC Reach $55,000?

Published

Coinbase Shifts Bitcoin Payment Strategy, Sparks Debate on Crypto Accessibility

Amid ongoing discussions about Bitcoin scalability and practicality for everyday transactions, Coinbase’s recent decision to halt native Bitcoin payments for merchants has sparked a vibrant dialogue.

Changes in Coinbase’s Payment System

Coinbase Commerce has stopped supporting direct Bitcoin and UTXO coin payments, prompting customers to use a Coinbase account for transactions.

Concerns in the Crypto Community

  • Customer Accessibility: Requiring a Coinbase account may restrict ease of access for users wanting to make Bitcoin transactions.
  • Bitcoin’s Growth: Critics argue that this move could hinder Bitcoin’s expansion by limiting its use in everyday transactions.

Venture Capital Flows into Crypto and Blockchain Surge in Q4 2023 Amid ETF Launches

The last quarter of 2023 witnessed a notable increase in venture capital investments within the blockchain and cryptocurrency sectors, reaching $1.9 billion, a 2.5% rise from the preceding quarter.

Key Investment Rounds

  • Blockchain.com secured $165 million.
  • Swan Bitcoin raised $100 million.
  • Wormhole received $225 million, boosting its valuation to $2.5 billion.

Bitcoin Price Prediction

In the current session, Bitcoin (BTC/USD) demonstrates resilience, navigating the 4-hour chart with a pivot point at $52,779.

Key Resistances and Support Levels

  • Immediate resistance at $53,943, with further barriers at $55,214 and $56,497.
  • Support emerges at $50,355, extending to $48,739 and $47,510.

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.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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