Bitcoin
BTC$68 123.51

0.55%

Ethereum
ETH$3 488.60

-0.40%

Tether
USDT$1.000261

0%

Binance Coin
BNB$595.24

-0.86%

Solana
SOL$182.72

0%

XRP
XRP$0.616232

3.38%

Altcoins have gone up, but BTC still has few bullish signals


12 Jan 2022

#Bitcoin

The crypto market has again surpassed $2 trillion, adding almost 2.7% in the last 24 hours. Bitcoin, meanwhile, has not kept pace with the rise in altcoin prices: BTC strengthened by 1.45% against a 4% rise in ETH, while other leading coins added between 3% and 7%. The purchase of altcoins has intensified after the first cryptocurrency defended the $40K mark. This was like a sign of faith in the sector's short-term prospects, which again allowed enthusiasts to invest in potentially more undervalued coins and projects.

The crypto Fear and Greed Index added 1 point to 22 overnight, but we can see that investors took the recent plunge as a buying opportunity. On the chart, bitcoin rebounded from a psychologically important support level for the second time since September. In addition, the RSI indicator on the daily charts came out of the oversold area, signalling a pause in the bearish momentum.

However, it is too early to say that we are seeing the beginning of a new growth wave. There are several reasons for that. In this wave of decline, the RSI indicator reached lower lows than earlier in December and markedly lower levels in September and July, marking more persistent and prolonged selling than in previous episodes. 

Bitcoin's consolidation attempts this week is only a wobble near the bottom. A bullish reversal will be indicated by solid upward momentum in July or September. The mini rebound in December was quickly eaten away by the bears. BTCUSD is consolidating near the lower boundary of the descending channel. To say that we see more than just a bounce within this trend is only possible if it grew above 45k - where the previous local lows and the downside resistance line are concentrated.

If bitcoin fails to develop an uptrend, it will seriously spoil sentiment for cryptocurrency traders, creating a toxic environment in the sector and putting selling back on the agenda, despite the prospects of individual projects.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 78% 41 $68 123.51 0.55% 6.75% $1 344 039 448 744 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 46 $3 488.60 -0.40% 1.54% $419 428 377 246 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000261 0% -0.04% $114 114 443 719 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 75.2% 43 $595.24 -0.86% 3.01% $86 868 579 647 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 71.6% 56 $182.72 0% 16.65% $84 874 212 189 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 69.2% 59 $0.616232 3.38% 15.31% $34 453 208 568 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000014 0% -0.01% $33 940 979 096 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 73.2% 53 $0.141565 0.07% 15.49% $20 558 691 698 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 89.6% 11 $7.01 -1.60% -7.46% $17 640 223 314 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 74.8% 53 $0.431727 -0.66% -1.31% $15 497 531 709 ADA 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 75.6% 42 $32.33 0.05% 18.77% $12 762 908 052 AVAX 7 days price change
12 TRON (TRX) TRX TRON predictions 82.4% 33 $0.133251 -0.82% -2.83% $11 603 514 453 TRX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.8% 37 $0.000018 -2.20% -4.21% $10 504 200 494 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 96% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

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