Major Pi Network (PI) News, Recent Bitcoin (BTC) Price Predictions, and More: Bits Recap Feb 14

TL;DR

Pi Network in the Spotlight

The controversial crypto project, which claims to allow people to mine digital assets directly from their smartphones, announced that it will officially launch its Open Network on February 20. The major milestone (if it indeed goes live) will come nearly six years after Pi Network’s birth. 

The team previously assured that the introduction of the Open Network would occur once 15 million users passed necessary Know-Your-Customer (KYC) verifications. According to the team, 19 million Pioneers have successfully completed the procedures, while 10.14 million have migrated to the mainnet. 

The launch of the Open Network is a key step toward making the Pi token publicly accessible, as it will allow exchanges to list it. 

Some leading platforms, such as OKX, Bitget, and MEXC, have already revealed their intentions to enable trading services with the asset next week. On the other hand, others have stood aside. Bybit’s CEO Ben Zhou, for instance, explicitly stated that the exchange will not embrace it. 

Where Next for BTC?

The price of the primary cryptocurrency has been rather unstable in the past week, ranging from below $95K to almost $100K. Currently, Bitcoin (BTC) trades at approximately $97,000 (per CoinGecko’s data), with some analysts envisioning substantial gains in the near future.

The X user CRYPTOWZRD recently assumed that the valuation could soon break above the $100,000 resistance level, where “there will be a psychological value for retail traders, leading them to pour more money into the market.”

The analyst also envisioned that BTC could then surpass the next resistance target of $108,000 and head toward a new all-time high.

Others, like Ali Martinez, suggested that the asset could experience an additional correction in the upcoming future. He claimed that BTC’s most important resistance level is $97,530, saying that support below $92,110 is weak. Martinez hinted that falling under that mark could lead to a significant decline, as there is a gap between $90,000 and $70,000. 

Meme Coin Outlook

Last but not least, we will touch upon the meme coin sector, whose market capitalization has slightly increased to almost $80 billion.

The top performers today (February 14) include Popcat (POPCAT), dogwifhat (WIF), and SPX6900 (SPX), whose prices have risen between 6% and 12%. Interestingly, POPCAT also led the pack yesterday after receiving support from Coinbase. 

The leaders in terms of market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – are also in the green, albeit charting more modest gains. 

Those recording some price declines in the past 24 hours are ai16z (AI16Z), Fartcoin (FARTCOIN), AI Companions (AIC), and others.