• Bitcoin price has surged 10% in the past seven days, potentially signaling the start of a new bull market.
• A class-action lawsuit has been filed against Argo Blockchain, a Bitcoin mining company, by its investors, alleging the company misrepresented its pre-IPO finances.
• The Bitcoin Fear and Greed Index has entered the ‘Greed’ zone after 10 months, indicating investors are feeling more positive about the cryptocurrency market.
The past week has been an exciting one in the world of cryptocurrency. Bitcoin, the original and most popular cryptocurrency, has surged 10% in the past seven days, sparking speculation that a new bull market is beginning. This price surge has been accompanied by increased adoption around the world, along with a commitment to innovation, suggesting that Bitcoin could be on track for another bull run in the near future.
The Bitcoin Fear & Greed Index, which measures investor sentiment by tracking market conditions, has also shifted to the ‘Greed’ zone after spending 10 months in the ‘Fear’ zone. This indicates that investors are feeling more optimistic about the cryptocurrency market as a whole.
In addition to the positive news surrounding Bitcoin, a class-action lawsuit has been filed against Argo Blockchain, a Bitcoin mining company. Investors allege that the firm had misled them through false claims prior to its Initial Public Offering (IPO). In September 2021, a London-based company issued 7.5 million shares to the public at a rate of $15 each, and raised $112.5 million in total. The complaint claims that record materials related to the IPO had included false facts and had not complied with relevant laws and regulations.
While predicting the price of Bitcoin can be difficult, the recent surge, combined with the positive sentiment from the Fear and Greed Index, is certainly a good sign for the cryptocurrency and its investors. Increased adoption around the world and a commitment to innovation could mean that Bitcoin is set for another bull run in the near future. Only time will tell if this is the case, but for now, it appears that the cryptocurrency market is in a state of optimism.