Bitcoin
BTC$19 236.88

-5.33%

Ethereum
ETH$1 059.24

-3.42%

Tether
USDT$0.998865

0%

USD Coin
USDC$1.000234

0.01%

Binance Coin
BNB$216.73

-2.86%

Binance USD
BUSD$1.000172

0.02%

Bitcoin began a correction, but there is nothing to fear for now


27 Aug 2021

#Bitcoin

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.


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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 56% 93 $19 236.88 -5.33% -9.25% $367 090 492 088 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 54.4% 92 $1 059.24 -3.42% -13.06% $128 563 665 077 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $0.998865 0% -0.05% $66 157 064 752 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000234 0.01% 0.03% $55 815 657 567 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58% 83 $216.73 -2.86% -9.97% $35 387 165 689 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $1.000172 0.02% -0.17% $17 550 239 765 BUSD 7 days price change
7 Cardano (ADA) ADA Cardano predictions 64.4% 77 $0.449900 -3.96% -9.87% $15 185 277 669 ADA 7 days price change
8 XRP (XRP) XRP XRP predictions 65.6% 69 $0.312767 -5.50% -14.94% $15 120 122 249 XRP 7 days price change
9 Solana (SOL) SOL Solana predictions 63.2% 76 $33.02 -4.65% -21.18% $11 334 306 442 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 71 $0.066321 -1.46% -0.89% $8 798 825 338 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 96% 1 $1.000044 -0.04% -0.01% $6 861 151 864 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 67.6% 67 $6.73 -5.75% -17.74% $6 645 769 652 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 56.8% 88 $0.064983 -1.34% -1.30% $6 010 279 687 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66.4% 66 $0.000010 -4.45% -8.36% $5 490 728 757 SHIB 7 days price change
15 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 67.6% 60 $5.75 -0.48% -1.42% $5 488 104 289 LEO 7 days price change

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