Bitcoin began a correction, but there is nothing to fear for now
The bitcoin price is declining, dropping to $47K to its lows from last week, failing to gain support from buyers after rising above $50K earlier in the week. From the lows of July, when the price briefly dipped below $30K, the rate is up 72%, peaking at the start of the week, so a corrective pullback offset some of the short-term overheating. Further declines down to $42K-$44K are not beyond the market’s usual pullbacks, but a deeper dive would bring back a more negative scenario.
The hash rate recovery is worth paying attention to. According to the latest data from CryptoQuant, computing capacity on the Bitcoin network has tripled from lows a few months earlier, when it fell on the expulsion of miners from China. The hash rate recovery has been attributed to the rise in price, as it means the network is becoming more secure.
We are highly likely to approach the point where new rules for the crypto market and exchanges will come into effect. No one wants to “stifle” the technology in its early stages of development, and now, paying for services with Bitcoin or Ethereum is very complicated and expensive for ordinary users. Still, you must understand that the growth of an active user base will change the attitude of regulators.
The wave of mass implementation of cryptocurrencies in everyday life will likely come from South America and the Middle East. Despite recent events in Afghanistan, the country has been listed as a promising destination for cryptocurrency adoption. Another positive factor can be seen in the news that U.S. banking giant Citigroup is waiting for regulatory approval to launch Bitcoin futures trading on the CME.
The bank is facing a surge in demand for cryptocurrency as the price of digital currencies rises. Futures themselves don’t necessarily carry a positive for the price, but market participants are always positive about the acceptance of cryptocurrencies by traditional finance.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 83.2% | 29 | $61 987.58 | -2.94% | -12.51% | $1 220 267 394 171 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 79.2% | 38 | $3 025.21 | -2.28% | -15.39% | $363 243 851 333 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $1.000011 | -0.02% | 0% | $109 033 133 030 |  |
|
| 4 |  BNB |
Binance Coin predictions | 85.2% | 27 | $549.23 | 1.47% | -10.88% | $82 128 832 421 |  |
|
| 5 |  SOL |
Solana predictions | 76.8% | 43 | $135.85 | -0.93% | -21.36% | $60 686 327 387 |  |
|
| 6 |  USDC |
USD Coin predictions | 90.8% | 2 | $1.000011 | 0% | -0.01% | $32 600 289 273 |  |
|
| 7 |  XRP |
XRP predictions | 77.2% | 44 | $0.497497 | -0.04% | -19.76% | $27 422 009 794 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 71.6% | 60 | $0.149486 | -4.59% | -24.15% | $21 515 536 820 |  |
|
| 9 |  TON |
Toncoin predictions | 74.8% | 53 | $6.10 | -4.88% | -16.30% | $21 170 319 698 |  |
|
| 10 |  ADA |
Cardano predictions | 76% | 51 | $0.450927 | -1.39% | -23.34% | $16 061 820 427 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 57.6% | 85 | $0.000022 | -1.74% | -19.46% | $13 165 292 160 |  |
|
| 12 |  AVAX |
Avalanche predictions | 66% | 65 | $34.38 | -0.78% | -26.56% | $12 993 969 667 |  |
|
| 13 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  TRX |
TRON predictions | 85.2% | 15 | $0.109932 | -2.25% | -8.19% | $9 632 111 097 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 85.2% | 29 | $61 942.23 | -3.01% | -12.62% | $9 624 814 569 |  |
