Bitcoin Price and Ethereum Prediction; Bitcoin Named Dirtiest Crypto of 2022
On January 11, Bitcoin (BTC), the world's largest cryptocurrency, is staying bullish but it's facing strong resistance at $17,500. Likewise. Ethereum's (ETH) price is consolidating in a narrow range of $1,320 to $1,345 levels.
According to a survey, a Luxembourg-based foreign exchange and teaching website, Bitcoin was the world's most polluting cryptocurrency in 2022, emitting about a ton of carbon dioxide (CO2) per transaction. After pollution was reduced in 2021, the Bitcoin network had a significant spike in CO2 emissions last year, according to the analysis.
In 2022, the total CO2 emissions from the Bitcoin network were almost 86.3 million tons. According to the trading platform, if we planted trees at the rate of 431.6 million per year, we would be able to offset Bitcoin's annual emissions.
The growing trend of Bitcoin miners switching to greener energy sources was overlooked in the research. The Bitcoin Mining Council predicts that by the end of the third quarter of 2022, the proportion of renewable energy used in Bitcoin mining will have increased to 59.4%, up from 58.6% the year before.
Bitcoin is presently trading at $17,500, with a $16 billion 24-hour trading volume. Bitcoin has had a minor negative pullback after failing to break above the $17,500 resistance level. It is now garnering immediate support as it approaches the $17,200.
A successful breakout of the $17,500 level might propel Bitcoin's price to the next resistance level of $17,800. In the 4-hour time frame, Bitcoin created a doji candle, indicating indecision amount investors. Perhaps, they are waiting for a solid reason to determine the next move in the market.
On the bearish side, the $17,200 level is anticipated to operate as an immediate
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