By now it is lunch time again and so we are happy to share the live Bitcoin (BTC) price and the prices of the top 25 crypto. Next, we share new research on the environmental impact of BTC mining. Finally, we analyze the Bitcoin (BTC0 price in the long and short term.
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) flat, prices top 25 crypto exchange
At the time of writing, the live Bitcoin (BTC) price is EUR 21,873.63 ($22,053.10). This is 0.76% lower than during our Bitcoin lunch yesterday.
The prices of the other crypto in the top 25 vary. FTX (FTX) records the biggest loss with -3.34%. The biggest gain is with +9.05% for Ethereum Classic (ETC). On the site of Tradeincrypto.com you can analyze live crypto prices 24 hours a day.
New research on environmental impact Bitcoin (BTC) mining brings good news
There was renewed discussion about the environmental impact of Bitcoin mining. The discussion began when people shared an overview of energy consumption for Bitcoin mining via Twitter.
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– ODELL (@ODELL) July 17, 2022
This showed that Bitcoin (BTC) mining currently costs 0.16% of global energy production and 0.49% of residual energy consumption. They then shared a statistic showing that this would be far too optimistic. According to Bitcoin developer Sjors Provoost, the estimate was not too optimistic at all. He explained how global Bitcoin mining would consume no more than 1% of the available energy.
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Another 12 years later and even if Bitcoin is worth more than all the worlds real estate, the mining subsidy would not be enough for Bitcoin to use more than 1% of global energy.
So if nothing weird happens before 2030, it can probably keep running on waste energy breadcrumbs.
– Sjors Provoost (@provoost) July 18, 2022
In doing so, Provoost, as you can see, clearly mentions the possibility of naming residual energy. Only in the case of absurd rates and large coincidences could more consumption occur.
BTC long-term price forecast
By the way, a now absurd sounding Bitcoin price of $2 million in 2030 is less absurd than it seems.
Based on long-term analyses, huge price increases are on the horizon. For example, it is expected that the Bitcoin price could rise towards $88,374 before the end of this year if a rally can break the first major resistance level at $67,280 and then break through the current record price of $68,979.
However, to begin the rally, the BTC price will first need to break through the 200-week moving average (around $22,600) and cross the first support level at $26,800.
If this does not happen there is still 1 leg down waiting. This one could even bring the price to or below $10,000.00. This has little impact on the future.
Indeed, towards the Bitcoin price in 2030, there are still 2 BTC halves to go. Based on historical analyses, one extrapolates the current price. This could rise to a Bitcoin BTC price of $2.11 million in 2030 based on those analyses.
Bitcoin (BTC) price not yet out of danger zone in the short term bears
In the short term, however, the Bitcoin (BTC) price remains uncertain. We saw the market launch an attack this morning on resistance around $23,000. Lack of incoming buyers means that this attack failed. As a result, the price is falling again. Looking at the BTC price pattern we see that it is still moving (above) in a consolidation bandwidth. So, as long as the price does not move above the 200-week moving average, the bears will continue to lurk. A fall to the bottom of the bandwidth (at $19,200) is then lurking. So the question remains whether BTC can stay ahead of the 200 WMA. Therefore $22,600 remains the BTC key price for the short term.
Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”
