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Bitcoin Price Prediction as Bulls Hold $20,000 Level – Where is BTC Heading Now?
On Sunday, Bitcoin and Ethereum both saw a modest rise in value, with BTC surpassing $20,000 and ETH reaching the $1,400 mark. However, the decline of the US dollar, which resulted from February’s labor statistics showing slower wage growth, may be responsible for this ongoing modest increase in crypto value.
Additionally, the adoption of Ordinal, a Layer 2 solution, is expanding the use cases of the Bitcoin network beyond just BTC transactions. While there have been differing opinions on using Ordinal in the Bitcoin community, its rising popularity and potential impact on the Bitcoin network could change the game for BTC miners.
Ordinal’s ability to enable fast and inexpensive transactions could lead to increased adoption of Bitcoin and potentially reduce the load on the network. This could ultimately result in greater efficiency and profitability for BTC miners. This has been identified as one of the key factors that could help BTC regain its strength and increase in price.
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