Bitcoin records uptick as whales return: What this means for the king coin

There are indications that Bitcoin's BTC recovery remained active at press time, and that it may soon surpass the $23,000 price level. The fact that these transactions appeared to be increasing suggested that it was caused by the movement of whales.

Timeline of Bitcoin

Bitcoin has seen a significant pullback over the past few days, causing many investors to question where the next buy zone is. By using price prediction models and technical analysis, investors can get an idea of where Bitcoin might be headed in the near future. 

Taunting Charlie Munger for his criticism of cryptocurrencies, Microstrategy co-founder Michael Saylor on Friday said had the Berkshire Hathaway vice chairman spent a hundred hours studying problems plaguing countries outside the U.S., he would be more bullish on Bitcoin (CRYPTO: BTC) than Saylor himself. Saylor further said Munger's criticisms on crypto weren't totally off and there were 10,000 cryptos that were gambling.

Fresh off the t-zone of a tempestuous 2022, Bitcoin is slowly picking up the pace to touch the halfway mark on its all-time high. A reclaim in 2023 would mark the most remarkable comeback, especially among underwater holders except one — Cathie Wood.

Jack Dorsey-backed Twitter alternative Damus, which features integration with the Bitcoin Lightning Network, has been banned from the China App Store. According to Damus, they received a notification from Apple that the Cyberspace Administration of China deemed the app to contain "illegal content" because it is an "Information Services with Attribute of Public Opinions or Capable of Social Mobilization.

Key Points: According to a CoinDesk report, a lawsuit filed by Craig Wright's Tulip Trading against 16 Bitcoin inventors will be tried in London, according to the U.K. Court of Appeals. In relation to their ownership of the Bitcoin network, the claim asserts that the developers owe fiduciary responsibilities and duties of care.

Marathon Digital Holdings' recent sale of 3,000 bitcoin was a strategic move to raise capital for growth, not a result of financial distress, according to the leading bitcoin mining company.

BTC/USD Technical Sentiment Fades:  Sally Ho's Technical Analysis – 4 February 2023 Bitcoin (BTC/USD) failed to sustain upward momentum early in the Asian session as the pair depreciated to the 23245.86 level after spiking to the 24148.37 area, with the interday low representing a test of the 200-hour simple moving average.  The recent surge to the 24262.18 area occurred after Stops were elected above the 24224.60 level, an upside price objective related to buying pressure that emerged around the 15460 and 20370.01 areas.

Bitcoin network fees are currently skyrocketing. An average transaction conducted over the bitcoin ledger now costs around US$1.53 (125p), having jumped around 40% in the past five days alone.

In Partnership With Ascend   Bitcoin and Ethereum, each with millions of users, need help with scalability since the blockchain technology used to underpin them wasn't designed for wide adoption when it was developed in the late 2000s. It might be possible to solve Bitcoin's problem with the Lightspark Lightning Network, a revolutionary second-layer blockchain upgrade.

Key Points: Willy Woo, an on-chain analyst, claims that institutional investors are quietly allocating to Bitcoin, sparking BTC rallies. Willy Woo, a well-known on-chain specialist, believes that institutions may be the driving force behind the current Bitcoin (BTC) increase.