A recent report from KSDMiner forecasts that Bitcoin (BTC) may break through the $110,000 mark this week. Market dynamics and growing interest in cloud mining are playing crucial roles in these predictions.
Bitcoin Price Predictions
According to KSDMiner's report, Bitcoin's price could reach $110,000 this week, with the potential to exceed $130,000 in the future. The critical price range is set between $103,000 and $105,000, serving as a trigger for a possible sharp breakout on the BTC chart.
Increase in Cloud Mining Interest
The report highlights a growing interest in cloud mining among users who wish to capitalize on mining opportunities without the need for expensive hardware. KSDMiner's CEO stated that rising market confidence drives growth within the cryptocurrency ecosystem.
Issues with Illegal Mining in Malaysia
As global demand for cryptocurrencies rises, Malaysia has seen a sharp increase in power theft related to illegal mining, surging over 300% in the past six years, according to Tenaga Nasional Berhad.
KSDMiner's report reflects growing interest in Bitcoin and cloud mining while highlighting significant issues related to rising cryptocurrency demand, including instances of illegal mining.
