Bitcoin
BTC$26 284.93

0.40%

Ethereum
ETH$1 590.77

0.91%

Tether
USDT$0.999945

0%

Binance Coin
BNB$211.48

1.43%

XRP
XRP$0.503892

0.71%

USD Coin
USDC$1.000097

0.01%

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 90.8% 4 $26 284.93 0.40% -1.58% $512 450 303 832 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 93.6% 6 $1 590.77 0.91% -2.61% $191 259 893 789 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $0.999945 0% -0.03% $83 203 336 292 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.4% 4 $211.48 1.43% -2.18% $32 535 832 612 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 89.2% 8 $0.503892 0.71% 0.08% $26 829 848 518 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000097 0.01% 0% $25 662 645 608 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 Cardano (ADA) ADA Cardano predictions 94% 7 $0.246497 0.97% -2.26% $8 657 571 831 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 94% 6 $0.061028 0.22% -1.62% $8 614 628 399 DOGE 7 days price change
10 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 86% 17 $0.083146 -0.31% 0.29% $8 453 971 571 WTRX 7 days price change
11 Solana (SOL) SOL Solana predictions 87.2% 23 $19.34 -0.18% -2.27% $7 984 181 258 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 88% 20 $0.084559 1.10% 0.67% $7 535 502 870 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 62.4% 79 $2.15 -2.42% -11.06% $7 377 709 332 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 93.2% 1 $0.999944 0.04% 0% $5 347 589 340 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 87.6% 23 $4.09 2.02% -0.27% $5 277 683 110 DOT 7 days price change

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