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.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||56%||93||$19 236.88||-5.33%||-9.25%||$367 090 492 088|
|2||ETH||Ethereum predictions||54.4%||92||$1 059.24||-3.42%||-13.06%||$128 563 665 077|
|3||USDT||Tether predictions||94.4%||1||$0.998865||0%||-0.05%||$66 157 064 752|
|4||USDC||USD Coin predictions||94.4%||1||$1.000234||0.01%||0.03%||$55 815 657 567|
|5||BNB||Binance Coin predictions||58%||83||$216.73||-2.86%||-9.97%||$35 387 165 689|
|6||BUSD||Binance USD predictions||95.6%||1||$1.000172||0.02%||-0.17%||$17 550 239 765|
|7||ADA||Cardano predictions||64.4%||77||$0.449900||-3.96%||-9.87%||$15 185 277 669|
|8||XRP||XRP predictions||65.6%||69||$0.312767||-5.50%||-14.94%||$15 120 122 249|
|9||SOL||Solana predictions||63.2%||76||$33.02||-4.65%||-21.18%||$11 334 306 442|
|10||DOGE||Dogecoin predictions||66.8%||71||$0.066321||-1.46%||-0.89%||$8 798 825 338|
|11||DAI||Dai predictions||96%||1||$1.000044||-0.04%||-0.01%||$6 861 151 864|
|12||DOT||Polkadot predictions||67.6%||67||$6.73||-5.75%||-17.74%||$6 645 769 652|
|13||TRX||TRON predictions||56.8%||88||$0.064983||-1.34%||-1.30%||$6 010 279 687|
|14||SHIB||SHIBA INU predictions||66.4%||66||$0.000010||-4.45%||-8.36%||$5 490 728 757|
|15||LEO||UNUS SED LEO predictions||67.6%||60||$5.75||-0.48%||-1.42%||$5 488 104 289|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.