Bitcoin
BTC$26 918.25

-0.14%

Ethereum
ETH$1 666.38

0.93%

Tether
USDT$1.000008

-0.01%

Binance Coin
BNB$215.61

0.44%

XRP
XRP$0.533831

5.55%

USD Coin
USDC$1.000138

-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 90.4% 2 $26 918.25 -0.14% 1.23% $524 890 483 866 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 91.2% 3 $1 666.38 0.93% 4.52% $200 359 438 928 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000008 -0.01% 0% $83 277 212 554 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.4% 2 $215.61 0.44% 2.23% $33 170 344 252 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 87.6% 9 $0.533831 5.55% 3.71% $28 459 775 133 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000138 -0.02% 0.01% $25 226 935 074 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.8% 26 $0.089024 4.13% 6.05% $9 051 627 956 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 88.8% 7 $0.250162 0.96% 2.49% $8 787 808 567 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 89.6% 4 $0.061916 1.15% 0.66% $8 743 107 432 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 87.2% 18 $20.23 3.66% 4.57% $8 351 111 999 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 83.6% 22 $0.089647 4.02% 7.25% $7 985 329 361 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 62.8% 84 $2.21 -1.25% -4.04% $7 589 859 927 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 93.2% 1 $1.000352 0.03% 0.05% $5 349 770 840 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90.8% 7 $4.08 0.34% 1.57% $5 011 854 851 DOT 7 days price change

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