The FASB's recent accounting rule revisions are poised to provide a more favorable outlook for companies holding digital assets, helping them mitigate the unfavorable optics generated by impairment losses, as stated in the report.
In response to a sharp drop in trading volumes that have hit a four-year low, crypto exchanges have launched promotions to bolster their revenue streams.
A death cross signals a possible enduring shift towards a bearish momentum, while a golden cross implies the contrary.
Bitcoin News Bitcoin (BTC) is known as the first open-source, peer-to-peer, digital cryptocurrency that was developed and released by a group of unknown independent programmers named Satoshi Nakamoto in 2008.
The report finishes with the prediction that in 2023, the United States will be the preeminent destination for bitcoin mining due to the strength of the dollar, the stability of energy prices here and the lesser impacts of inflation within the country.
The report suggests that the price of bitcoin is likely to flip both LTH RP and STH RP, which it is currently under, which could signal the low of the bear market. The report also noted the recent collapse of several exchanges, namely Celsius, BlockFi and FTX, which has contributed to increasing self-custody of BTC.
Blockware Intelligence, the research arm of Blockware Solutions, has released its 2023 forecast, which indicated, among other things, that the bitcoin price bottom could be in soon. The report included a larger macroeconomic overview and forecast, alongside bitcoin’s response as well as on-chain indicators that suggest potential future movements.
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