Bitcoin
BTC$51 463.74

-0.08%

Ethereum
ETH$2 989.26

1.88%

Tether
USDT$0.999712

0%

Binance Coin
BNB$384.63

2.71%

Solana
SOL$103.22

-1.10%

XRP
XRP$0.543335

-0.62%

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.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.6% 77 $51 463.74 -0.08% -0.45% $1 010 486 927 775 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.8% 72 $2 989.26 1.88% 6.23% $359 193 060 603 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999712 0% -0.11% $97 813 617 538 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 71.6% 57 $384.63 2.71% 9.42% $57 518 447 438 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 70.4% 53 $103.22 -1.10% -7.77% $45 514 764 027 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 86.4% 21 $0.543335 -0.62% -3.23% $29 643 580 751 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000012 0% 0% $27 982 661 127 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 69.2% 63 $0.591895 -0.24% -0.91% $20 991 256 654 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 61 $37.09 -0.44% -10.20% $13 990 033 714 AVAX 7 days price change
10 TRON (TRX) TRX TRON predictions 70.8% 57 $0.139211 -0.12% 6.24% $12 253 548 158 TRX 7 days price change
11 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 74.4% 56 $0.139193 0.15% 6.30% $12 251 999 245 WTRX 7 days price change
12 Dogecoin (DOGE) DOGE Dogecoin predictions 90% 14 $0.084720 0.57% -0.18% $12 130 544 821 DOGE 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 69.2% 68 $18.29 -0.72% -7.57% $10 740 590 215 LINK 7 days price change
14 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
15 Polkadot (DOT) DOT Polkadot predictions 73.6% 47 $7.56 2.21% -2.16% $9 698 270 291 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 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.