- BTC maintains an uptrend position.
- Cryptocurrencies threaten government authorities.
- Bitcoin may reach $67k soon.
The crypto world continues to grow and develop its blockchain over time. This is because of its community and investors that believed in the potential technology of the industry. Indeed, this is good news to all the fans of cryptocurrency. However, some institutions and authorities are not comfortable with the current progress of the space. Hence, the crypto market threatens them.
According to various media sources, Edward Snowden, a government whistleblower, stated that governments see cryptocurrency as a “growing threat.
I think governments correctly perceive an evolving threat to traditional tools which they’ve grown accustomed to, in terms of an ability to impose regulation upon private lives, and more broadly, private trade.
Meanwhile, as the news about authorities being threatened by cryptocurrencies heats on, the mass adoption of crypto in Ukraine and Russia continues. In detail, crypto assets have become one of the most used digital assets in the ongoing tension between these countries. In addition, digital assets are being used to aid the supplies needed in these nations.
As seen in the chart above, in the past 24-hour, Bitcoin was able to break its $40K resistance level. This is a sign that the bullish market continues to favor the crypto. Furthermore, Bitcoin keeps its position above the Arnaud Legoux moving average (ALMA), an uptrend position. If this trend goes on, BTC might reach $45K in no time and advance further to $50k.
However, this price forecast still depends on the bullish market and the behavior of its investors in the network. If the crypto remains to be the favorite digital asset around the world, it is only a matter of time before BTC hits $50k and breaks its ATH price of $67K.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
