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Bitcoin Price Prediction: Surges to $64,500, Rare ‘Epic Sat’ Sells for $2.1M

Arslan Butt
Last updated: | 4 min read

As Bitcoin climbs to $64,500 with a modest gain of 0.50% on Friday, the market remains keenly observant for shifts that might influence future Bitcoin price predictions. Recent interest spikes following the sale of a rare “epic sat” from the fourth Bitcoin halving for $2.1 million underscore Bitcoin’s collectible and historical value.

This event, alongside developing regulatory environments and increasing adoption by businesses, paints a complex picture of Bitcoin‘s role both as an investment and a cultural artifact.

Rare Bitcoin ‘Epic Sat’ Sells for $2.1M, Highlighting Demand for Collectible Cryptocurrency

An “epic sat,” mined from the fourth Bitcoin halving block, recently fetched $2.1 million at an auction on CoinEx Global. This rare satoshi, distinguished by its unique sequence number, sold for 33.3 BTC, highlighting its value to collectors.

Normally, each satoshi is worth about $0.00065, but those with rarity and historical significance command much higher prices.

This sale underscores the growing interest in Bitcoin memorabilia, which could boost demand for these unique tokens. It also emphasizes the importance of Bitcoin’s scarcity and historical milestones, which enhance its cultural and economic significance beyond mere digital currency.

  • Rare “epic sat” sold for $2.1 million or 33.3 BTC on CoinEx Global.
  • Highlighted the collectible value of unique Bitcoin units.
  • Demonstrated growing interest in Bitcoin’s historical and cultural significance.

UK Enhances Crypto Seizure Laws to Combat Crime, Sparking Privacy Debates

New UK regulations have streamlined the process for law enforcement to seize cryptocurrencies, enhancing their ability to combat crime without the need for immediate arrests. This legislative update allows police to confiscate digital assets more efficiently, even if the perpetrators use pseudonyms or operate internationally.

The Home Office has cited cases involving the seizure of cryptocurrencies worth hundreds of millions of dollars. Under the new rules, law enforcement can transfer seized cryptocurrencies to secure wallets and, if necessary, liquidate the assets.

This change primarily addresses concerns about the use of privacy coins for illegal activities and aims to cut off funding for terrorism.

  • UK police can now seize cryptocurrencies more efficiently, even without making arrests.
  • Confiscated cryptocurrencies can be transferred to secure wallets and liquidated if necessary.
  • New legislation targets the use of cryptocurrencies in criminal and terrorist activities.

Block Enables Square Merchants to Convert Sales into Bitcoin, Expanding Crypto Use in Commerce

Block, the fintech conglomerate led by Jack Dorsey, now enables Square merchants to convert between 1% and 10% of their daily sales into Bitcoin using Cash App, for a nominal fee of 1%.

This initiative opens the door for small businesses to engage more actively in the global financial economy and aligns with Block’s ongoing focus on Bitcoin.

This includes ventures into Bitcoin mining and substantial Bitcoin-related revenues generated by Cash App in 2023. Dorsey’s vision of transforming Cash App into a comprehensive banking service provider further underscores this strategy.

This integration is likely to expand Bitcoin’s role in mainstream commerce, potentially boosting its demand and utility beyond mere investment.

  • Square merchants can now convert up to 10% of sales to Bitcoin via Cash App.
  • 1% conversion fee supports Block’s strategy to integrate Bitcoin into mainstream commerce.
  • Dorsey’s vision for Cash App may increase Bitcoin’s utility and market demand.

Bitcoin Price Prediction

Bitcoin (BTC/USD) displays a precarious position at the pivotal $65,825 mark, with current trading patterns suggesting potential volatility. BTC faces immediate resistance at $67,687, with further hurdles at $69,232 and $71,068, which if surpassed, could signal a stronger bullish sentiment.

Conversely, support levels are firm at $63,654, with additional safety nets at $61,387 and $59,746 that might hold in case of a downturn.

Bitcoin Price Prediction
Bitcoin Price Prediction

The Relative Strength Index (RSI) at 38 indicates that Bitcoin is nearing oversold territory, suggesting that there could be a buying opportunity if sentiment shifts positively.

The 50-Day Exponential Moving Average (EMA) at $65,223 provides near-term resistance, indicating a bearish trend unless BTC can sustainably break above the pivot point.

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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.