Bitcoin
BTC$22 994.25

-3.54%

Ethereum
ETH$1 687.91

-5.10%

Tether
USDT$1.000205

0%

USD Coin
USDC$1.000033

0.02%

Binance Coin
BNB$322.84

-0.68%

Binance USD
BUSD$1.000068

0%

Another double-digit growth for Bitcoin


15 Jan 2021

#Bitcoin

Bitcoin’s success story continues. After a brief pullback toward the $30K low, the benchmark cryptocurrency is once again aiming for $40K. Over the past 24 hours, Bitcoin has added more than 12% and is trading near $38K. Bitcoin’s dominance index holds around 70%, while the total capitalization of the crypto market has once again surpassed $1 trillion. This threshold now has a psychological impact on retail crypto market participants, confirming the course for further growth. In 2017, the crypto market was already approaching this mark, but afterwards, a massive correction began, which led to the “crypto winter”. Now we are witnessing that the crypto machine is actively gaining speed near this level, which encourages investor optimism.

Previously, Bitcoin faced multiple waves of corrections as it approached $20K, and now the coin may face waves of profit-taking as it reaches $40K. Nevertheless, the crypto community is waiting for growth up to $50K. Given the volatile nature of the crypto market, this price level is realistic. Institutional investors at the end of last year voiced growth targets not only above $100K but even as high as $300K, suggesting the potential for multiple increases from current levels.

Altcoins supported the growth of the first cryptocurrency. Altcoins are now the riskiest assets to invest in as they attract the most retail demand and are therefore more prone to correction compared to BTC.

The largest 100 Bitcoin wallets have been very bullish over the past 30 days. In total, almost 350,000 new bitcoins appeared in these wallets. Even more optimistic news is that most of these addresses did not react in any way to the correction. Withdrawal transactions were recorded at a very small number of Bitcoin addresses.

Nevertheless, it’s worth noting that the inflow of new funds into the crypto sector dropped significantly during the first week of January. According to CoinShares, only $29 million was invested in institutional crypto funds during the first week of the new year. In the week before Christmas, big capital invested over $1 billion.

While this could be attributed to the fact that many investors were on the winter holidays. Should the inflows to crypto funds not increase closer to the end of January, it could mean that big capital decided to stop crypto purchases.

Source


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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 78.4% 35 $22 994.25 -3.54% 0.01% $439 591 538 662 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.8% 68 $1 687.91 -5.10% 3.56% $205 761 571 724 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000205 0% 0% $66 531 586 544 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000033 0.02% -0.01% $54 021 851 086 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 71.2% 62 $322.84 -0.68% 11.75% $52 086 335 344 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000068 0% 0.01% $17 752 502 175 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 77.6% 36 $0.363424 -3.65% -1.50% $17 569 045 535 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 72% 50 $0.511389 -4.25% 1.61% $17 253 774 183 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 78% 44 $39.74 -6.33% 3.54% $13 844 600 613 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 68.8% 62 $8.71 -4.69% 9.10% $9 626 327 113 DOT 7 days price change
12 HEX (HEX) HEX HEX predictions 64% 70 $0.054592 -1.19% 18.95% $9 466 937 752 HEX 7 days price change
13 Dogecoin (DOGE) DOGE Dogecoin predictions 81.6% 28 $0.068228 -6.49% 1.79% $9 051 914 563 DOGE 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 55 $27.42 -3.30% 17.24% $7 814 089 843 AVAX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.6% 1 $0.999863 0.05% 0.03% $7 525 054 582 DAI 7 days price change

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