Bitcoin
BTC$37 999.52

0.28%

Ethereum
ETH$2 087.03

2.47%

Tether
USDT$1.000108

0%

Binance Coin
BNB$229.00

0.60%

XRP
XRP$0.610895

0.45%

Solana
SOL$60.80

1.23%

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 91.2% 8 $37 999.52 0.28% 1.60% $743 176 326 003 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 28 $2 087.03 2.47% 0.76% $250 940 118 733 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $1.000108 0% -0.01% $89 361 383 812 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82.4% 26 $229.00 0.60% -2.63% $34 738 394 358 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 80% 34 $0.610895 0.45% -2.05% $32 920 250 746 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 60% 81 $60.80 1.23% 6.16% $25 782 778 428 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000068 0.01% 0% $24 548 544 676 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 74% 44 $0.380539 -0.17% -3.44% $13 436 086 955 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 78.4% 45 $0.083736 2.84% 8.64% $11 894 668 878 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 92.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 87.2% 21 $0.103684 -0.04% 1.38% $9 179 973 425 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 87.2% 24 $0.102241 -0.94% 0.07% $9 052 152 442 WTRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 80% 28 $2.43 -0.65% -0.25% $8 323 116 435 TON 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 69.2% 55 $14.57 0.24% 0.77% $8 110 917 522 LINK 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 55.2% 90 $22.06 3.37% 6.67% $8 056 357 288 AVAX 7 days price change

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