Bitcoin
BTC$65 916.61

-3.02%

Ethereum
ETH$3 431.41

-4.76%

Tether
USDT$1.000111

0.05%

Solana
SOL$184.76

-9.30%

Binance Coin
BNB$536.11

-5.15%

XRP
XRP$0.615485

-1.01%

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 60.8% 76 $65 916.61 -3.02% -7.85% $1 295 797 715 501 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.4% 68 $3 431.41 -4.76% -14.87% $412 034 451 178 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000111 0.05% -0.01% $103 629 685 403 USDT 7 days price change
4 Solana (SOL) SOL Solana predictions 65.2% 79 $184.76 -9.30% 21.28% $82 013 896 110 SOL 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58.4% 90 $536.11 -5.15% 0.39% $80 168 471 194 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 68.4% 59 $0.615485 -1.01% -11.06% $33 728 706 402 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92.4% 2 $1.000282 0.02% 0.02% $31 270 163 169 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 64% 76 $0.633413 -5.90% -16.65% $22 527 010 926 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 67.6% 73 $58.80 -3.66% 20.83% $22 184 253 510 AVAX 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 58.4% 89 $0.136184 -10.14% -21.98% $19 545 943 977 DOGE 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 54.4% 94 $0.000026 -10.09% -22.02% $15 230 374 615 SHIB 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 57.2% 87 $9.40 -6.22% -13.91% $13 389 000 592 DOT 7 days price change
13 Toncoin (TON) TON Toncoin predictions 69.2% 69 $3.67 -6.90% 3.81% $12 734 927 068 TON 7 days price change
14 TRON (TRX) TRX TRON predictions 88% 19 $0.123224 -2.38% -7.45% $10 822 853 238 TRX 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 83.2% 21 $0.123213 -2.12% -7.65% $10 821 889 738 WTRX 7 days price change

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