GM Explorer,

Rekt Capital has just unveiled its latest Bitcoin price prediction. According to their analysis, Bitcoin is poised for an uptrend and could be gearing up for a major rally soon.

This is the Crypto Explorer, your crypto tour guide.

Here’s what we got for you today:

• 📈 Rekt Capital's latest Bitcoin predictions!

• 💡 Crypto mining threatens Russia's power supply!

• 🧱 Around The Block:Bankrupt crypto lender BlockFi to commence repayments this month.

📈 Rekt Capital's Latest Bitcoin Predictions!

Guess who's back with some exciting predictions?

Rekt Capital, the pseudonymous crypto trader/analyst who accurately predicted Bitcoin's pre-halving correction, now predicts that BTC is entering an uptrend.

The analyst notes that Bitcoin has broken a descending trendline on the daily chart, which signals the end of its downward trend and the start of a new upward movement.

And if Bitcoin manages to turn the $65,000 level into support, it could open a new trading range with an upper limit of $71,500.

Breaking the $65,000 mark means Bitcoin would be ready to move inside the $65,000-$71,500 region or at least that's what the analyst claims!

But that's not all.

The analyst also suggests that Bitcoin's recent return to the $60,000 range could follow previous patterns, and this could potentially lead to new all-time highs.

Curious to see what else he said? Find it all here.

💡 Crypto Mining Threatens Russia's Power Supply!

The crypto world is always buzzing with something new to discuss or worry about!

And this time it’s Russia’s President Vladimir Putin worried about Russia facing potential electricity disruptions due to unchecked crypto mining.

According to Putin, if crypto farms continue to consume so much energy, it could lead to shortages for new businesses and residential areas, ultimately jeopardizing investment projects.

Surprisingly, he does have a point.

Reports show that crypto's energy consumption globally ranges from 120 to 240 billion kilowatt-hours per year!

Believe it or not, that's more than what all the world's data centers use combined!

So yeah, it must be tough for Russia — It's so tough that a glitch at the Rostov nuclear power plant has even led to electricity cutoffs in several regions.

Beyond the energy concerns, it's interesting to know that crypto is being used by Russians abroad to bypass Western sanctions and for military donations.

In fact, last year, Coindesk reported that Russian military units in Ukraine received more than $1.8 million in donations via cryptocurrency alone.

But as this issue becomes more of a headache, Putin has instructed the regulation of digital currency mining in Russia, including addressing taxation and tariff decisions.

Now, you might wonder, "Why not just generate more electricity?"

Well, it's not that simple. Russia is a major player in crypto mining, ranking third in the world.

Constantly producing more electricity to meet demand might not be sustainable in the long run, so regulation seems to be the way forward.

Overall, new federal regulations, coupled with new taxation and tariff plans, are on the horizon.

It's unclear what these will look like or how they'll affect miners, but it's clear that changes are coming.

Let's hope the miners are prepared for what's to come!🤞

You can catch the full scoop here!

🧱 Around The Block:

• Bankrupt crypto lender BlockFi to commence repayments this month.

• Cardano founder challenges Ethereum creator: support pro-crypto politicians!

• Spot Ethereum ETF race intensifies as issuers prepare for imminent launch.

• ​​Ethereum price analysis: Is $3.7K realistic for ETH, or is a correction to $3K coming?

• Indian crypto exchange WazirX exploited for over $230 million.

• US Bitcoin ETFs extend 9-day winning streak amid surging demand.

• Mt. Gox Bitcoin repayments: CryptoQuant addressing investor concerns.

That's all we've got for you today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”