BTC Price Jumps 6% as Israel Conflict Escalates, Taproot & Tesla AI in Focus

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As global events and tech advancements continue to shape the crypto world, Bitcoin remains resilient. On Thursday, trading at $28,247 with a 0.84% decline, its price still rose 6% in response to US lawmakers calling for action against Hamas and its affiliates’ use of cryptocurrency following Israel’s strike.

Lightning Labs, a leading company in Bitcoin layer-2 infrastructure, has also introduced stablecoins to Bitcoin with its Taproot Assets Alpha. This system simplifies the issuance of stablecoins and real-world assets on both the Bitcoin and Lightning Network. This advancement underscores the escalating global significance of these assets and has also been met with significant developer interest.

Tesla has also maintained a substantial Bitcoin portfolio, despite investing in R&D and artificial intelligence (AI). As of September 30, the company held $184 million in digital assets and has kept this amount consistent over the last five quarters. This unwavering commitment to Bitcoin signals Tesla’s enduring belief in the digital currency’s potential.

For the October 18 BTC/USD technical analysis, Bitcoin’s activity is evident on a 4-hour chart. The pivotal value for the asset is $28,582, with sequential resistance at $29,237, $29,921, and $30,500. Potential support markers are at $27,691, $27,239, and $26,576. The 50-day Exponential Moving Average (EMA) is set at $27,250 with Bitcoin’s price trading above this EMA, indicating a short-term upward trend.

To stay up to date with the world of digital assets, explore our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to watch in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments.

Finally, take advantage of Cryptonews.com’s cryptocurrency price tracker to find the best price to buy/sell cryptocurrency. A disclaimer though: cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

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