Bitcoin
BTC$16 944.21

-0.17%

Ethereum
ETH$1 254.57

-1.43%

Tether
USDT$1.000139

0.01%

Binance Coin
BNB$288.80

-0.84%

USD Coin
USDC$0.999985

-0.01%

Binance USD
BUSD$1.000060

-0.04%

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 76.4% 45 $16 944.21 -0.17% 2.42% $325 736 924 893 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 50 $1 254.57 -1.43% 3.44% $153 527 150 828 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000139 0.01% 0.06% $65 505 304 169 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 55 $288.80 -0.84% -7.63% $46 199 434 916 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $0.999985 -0.01% -0.02% $43 335 041 218 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000060 -0.04% 0.03% $22 153 508 283 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 76.4% 44 $0.388646 -1.37% -3.85% $19 533 505 869 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 65.2% 79 $0.102717 1.39% -0.50% $13 627 483 949 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 66.8% 68 $0.319285 -1.43% 0.77% $10 999 202 382 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 64.4% 69 $0.909708 -1.60% 6.22% $7 945 674 649 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 71.2% 56 $5.52 -1.05% 2.48% $6 303 019 314 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 93.2% 1 $0.999449 -0.07% -0.05% $5 684 309 423 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 60.8% 77 $76.05 -1.02% -1.30% $5 457 208 638 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 71.6% 50 $0.053415 -1.25% 0.17% $5 431 033 047 WTRX 7 days price change

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