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Argo Blockchain has revealed plans to introduce green bitcoin. The program is aimed at cutting energy consumption while processing transactions. Currently, the leading cryptocurrencies like bitcoin use a technique called proof of work, which is incredibly energy intensive. Each transaction consumes about as much power as 778,988 credit card transactions.


In theory, the new green bitcoin may attract institutional investors, which is vital to the growth and inflation of the crypto bubble. The ideal trading platform for Bitcoin and other cryptocurrencies is


Is There a Rise in Price As Bitcoin Enters Green Chain?
Is There a Rise in Price As Bitcoin Enters Green Chain?


Market sentiment

A recent Bitcoin Magazine article highlighted an interesting chart that shows the price of Bitcoin overlaid with the net position change of LTHs. Typically, these colored lines show an uptrend but are absent during downtrends. The last downtrend since the all-time high of $69,000 reveals an exception: the LTHs sold only a modest percentage of their positions on the way down.


Bitcoin is a popular investment vehicle, but its growth has created some problems. It has been accused of facilitating crime and operating as a Ponzi scheme. In addition to its growing price, it has also been charged with causing increased energy consumption, a problem that investment managers are under increasing pressure to address.



Supply chain issues

Blockchain is starting to be applied to various supply chain applications, particularly in the manufacturing and financial sectors. It is also being integrated with the Internet of Things (IoT), one of the most promising new technologies. With the help of these technologies, companies can strengthen their relationships with customers and suppliers. Blockchain technology can benefit companies facing supply chain issues such as late delivery and faulty goods.


Blockchain can help companies share data without fear of repercussions. Moreover, it can help companies reduce the time required to verify the authenticity of suppliers. Usually, due diligence takes from one to two months for new suppliers. IBM's blockchain-based software platform can help shorten the process of due diligence.



Dormancy flow

The Entity Adjusted Dormancy Flow, a metric that measures the percentage of bitcoins in circulation that haven't changed hands in the last year, shows that bitcoin is entering a period of market dormancy. This measure indicates that the amount of Bitcoin that hasn't been traded has been falling recently, reducing the amount of selling pressure on the market and creating opportunities for further growth. A drop in this figure has coincided with a significant price bottom in the past.


This is not a false alarm. The same signal has been given twice in the past, both at the same time as a macro-bottom in BTC's price. The first time, in March 2020, BTC bottomed out at $4,000 in the COVID-19 crash. The second time, in July 2021, it hit $29,000. After this, it completed a 55% correction from its all-time high, trading at the $42,000 level. Moreover, this time, it is a possible signal that Bitcoin will bounce off the green area and continue its rise.



Regulatory changes

The cryptocurrency bitcoin has faced criticism for facilitating crime and operating as a giant Ponzi scheme. In addition to these criticisms, investment managers' excessive energy consumption and CO2 emissions have emerged as significant issues. This has led to increased pressure on managers to demonstrate ESG compliance. One of the key ways to attract institutional investors is to create a green bitcoin. This would provide a way to meet the increasing demand for crypto assets.


However, while the concept of green bitcoin has merit, it is challenging to implement in the real world because of the decentralized nature of the cryptocurrency. In addition, the government of the United States has the power to outlaw cryptocurrency ownership if it so chooses. As a result, the value of cryptocurrency would decline dramatically.



The increasing price of bitcoin

Bitcoin is the world's most valuable digital currency, with its price recently hitting an all-time high of over $65,000. The current price is around $48,000 per unit; some investors have made millions in just a few days. However, the increasing cost of bitcoin has significant environmental implications, including its massive energy consumption.


While the currency has experienced a steep decline in the last two weeks, the price has rebounded quickly. It's not just the green chain bringing bitcoin's value up. Investors are moving away from the risky assets that have inflated over the past several years and are trying to find more secure investment options. This trend limits the amount of capital available for Bitcoin and other cryptocurrencies.




The cryptocurrency space is facing challenges as it moves towards a greener future. It must recognize the negative impact that its business has on the environment and integrate sustainable practices. It also has to abandon the notion of profit at all costs. Nonetheless, it is possible that the cryptocurrency community can be transformative, harnessing technology and finance to contribute to the transition to renewable energy sources.


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