Bitcoin
BTC$19 108.68

-0.12%

Ethereum
ETH$1 051.12

-1.09%

Tether
USDT$0.999042

0%

USD Coin
USDC$1.000039

-0.01%

Binance Coin
BNB$216.74

-0.87%

Binance USD
BUSD$1.001586

0.07%

Bitcoin continued its downward trend


10 Jan 2022

#Bitcoin

Bitcoin continued its downward trend over the weekend as well, approaching $40,000 for the first time in nearly three months. The main culprit behind the slump in crypto prices is the Fed’s decision to withdraw massive liquidity, which has been pumped into markets since the onset of the coronavirus pandemic. Higher capital in markets allowed investors to take positions in risky assets and pushed stock market indices to unprecedented highs.

However, blazing inflation, which the Fed at first believed to be transitory, has persuaded the Fed to wind down its quantitative easing measures at a much faster pace than investors had initially expected. This decision has been deemed unfavourable for risky and speculative assets such as cryptocurrencies.

On the other hand, investors should also keep in mind that, looking at Bitcoin’s historical price action, the $40,000 level has proven to be a good support level for Bitcoin, and hence, investors should consider Bitcoin prices near the $41,000 mark as an opportunity to purchase the digital coin at bargain prices. This is because the outlook for cryptocurrencies remains positive as we move to a more digitised future.


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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 59.2% 88 $19 108.68 -0.12% -10.44% $364 683 630 223 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 54% 93 $1 051.12 -1.09% -14.27% $127 610 536 230 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999042 0% -0.04% $66 018 262 534 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $1.000039 -0.01% 0% $55 804 793 378 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 65.2% 75 $216.74 -0.87% -9.37% $35 388 059 426 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.001586 0.07% 0.28% $17 575 061 690 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 68% 69 $0.317499 1.53% -12.57% $15 348 864 758 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66.8% 72 $0.448366 -0.36% -10.65% $15 214 866 694 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 68% 70 $32.77 -0.23% -19.15% $11 253 894 583 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 62 $0.066138 0.06% -13.89% $8 774 635 420 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 94.8% 1 $1.000043 -0.04% 0% $6 895 987 122 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 68% 67 $6.72 -0.01% -16.62% $6 636 204 716 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 66% 74 $0.065733 3.58% -3.47% $6 079 571 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 73.6% 54 $5.87 2.64% -0.14% $5 604 429 157 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 71.2% 63 $0.000010 0.62% -13.36% $5 523 555 766 SHIB 7 days price change

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