Bitcoin continues to be a hot topic in the world of cryptocurrency, with analysts and traders closely monitoring its price fluctuations. This Bitcoin price prediction focuses on analyzing key technical indicators and market trends to assess the potential support level of the upward channel near $26,800.

Despite the current retreat in Bitcoin prices, an on-chain metric called the RHODL indicator is showing bullish signals. The indicator, created by Philip Swift in 2020, uses a ratio of Realized Value HODL Waves and is at a similar position as it was at the beginning of the last two major Bitcoin bull markets.

With the anticipated crypto bull run and growing interest in cryptocurrencies, investors are seeking to diversify their portfolios to maximize returns. Bitcoin (BTC) and Avorak AI (AVRK) are among the top tokens for returns, but how can investors balance the two in their portfolios? Bitcoin is a valuable asset with a maximum supply of 21 million BTC, and its halving event in 2024 is expected to boost its price. However, BTC is expensive, and many traders prefer to supplement it with low-cap coins with promising prospects, such as Avorak AI. Avorak AI is a first-to-market AI crypto project with a comprehensive set of AI solutions that streamline and scale operations. Its AVRK token serves as credit for accessing its solutions, and AVRK holders receive a share of Avorak's profits and can increase their percentage hold of the token through staking. AVRK is currently selling at $0.235 with a 5% bonus, and it has the potential for significant gains in the next bull run. By carefully assessing the risks and potential rewards of each asset and allocating capital according to goals and risk tolerance, investors can potentially reap the benefits of both assets and minimize the downsides of each.

Bitcoin Cash has upgraded its network to include CashTokens, which allows developers to create customizable tokens for various use cases. This upgrade is expected to lower transaction fees and improve scalability on a secure platform. CashTokens are similar to ERC-20 tokens on the Ethereum network and allow users to create and manage their own tokens that could represent a wide variety of assets. The upgrade aims to facilitate a broader range of use cases including DApps and NFTs, and promote innovation on the network. Despite the upsides that Bitcoin Cash seems to have over Bitcoin, the number of active wallet addresses for Bitcoin Cash has not matched its bullish beginning.

Bitcoin's short-term holder Spent Output Profit Ratio (SOPR) has dropped to a value of 1, indicating that short-term holders are currently selling at their break-even mark. Historically, whenever the SOPR has dropped to the 1 line, it has provided support to the price and made the indicator rebound back above it. However, if the retest of this crucial level fails, it may indicate a transition back to a bearish period for the cryptocurrency. At the time of writing, Bitcoin is trading around $27,000, down 2% in the last week.

Lightning Labs, the Lightning Network infrastructure firm, has renamed its Taro project to Taproot Assets and released a software update after a trademark infringement suit was filed by Tari Labs. The suit resulted in an injunction that prevented further development of the project, but with the rebranding, Lightning Labs has resumed work on the primary software for implementing the newly renamed Taproot Assets protocol. The protocol will allow users to issue assets such as stablecoins on the Bitcoin blockchain. Taproot Assets is currently available on a test network, with main network support "coming soon," according to the team. Lightning Labs plans to propose finalized specifications of the protocol to the Bitcoin community via bitcoin improvement proposals (BIPs) and Bitcoin Lightning improvement proposals (bLIPs) with the ultimate goal of enabling Bitcoin-based asset transfers over the Lightning Network.

Fort Stockton-based Bitcoin miner, Cormint Data Systems, Inc., has raised $30 million in Series A equity funding to expand its self-mining capacity to 2.4 EH by the end of 2024. The funding round was co-led by its President, Jamie McAvity, and Silicon Laboratories, Inc's Chairman Nav Sooch, with participation from existing investors. Alessandro Piovaccari, Silicon Labs' former CTO, also joined the round as an advisor to the company. The capital raised from the Series A round will add to the capital raised through BTC denominated promissory notes issued in late 2022.

The recent Bitcoin Cash upgrade has led to the creation of approximately 1,308 fungible tokens and 25,336 non-fungible tokens on the blockchain. The Cashtokens ecosystem can now be explored through blockchain explorers 3xpl.com and salemkode.com. This development allows for the creation and verification of tokens on the BCH network, running alongside traditional financial activities. Several wallets compatible with BCH have already embraced the Cashtokens infrastructure, and users can select a Cashtokens-focused wallet through the web portal bestbchwallets.com.

Bitcoin's market can be confusing and volatile, and Jackis, a well-known analyst in the crypto community, has commented on its current state. He suggests that Bitcoin's weekly structure remains bullish, and any potential dips can be seen as a potential higher low in a bullish trend. However, he warns that this bullish trend must be proven, and investors should be cautious. The correlation between Bitcoin and Ethereum has hit its lowest level since November 2021, indicating that they are increasingly being driven by divergent idiosyncratic factors. Bitcoin is currently trading slightly below its 50-day Moving Average at $27,000, with a minor decline of 1.4% over the last 24 hours.

The rise of cryptocurrencies has led to an increase in scams that prey on unsuspecting victims. These scams include phishing, rug pulls, and hacker attacks, which have resulted in significant financial losses for many people. Recovering stolen Bitcoin is a difficult and complex process due to the decentralized and pseudonymous nature of blockchain transactions. However, victims can seek legal avenues for recovery, collaborate with blockchain investigation and forensic professionals, work with exchanges and service providers, and pursue compensation through civil litigation. Prevention and education are also crucial in mitigating the risks associated with cryptocurrency fraud.