BTC$28 532.89


ETH$1 824.10




Binance Coin


USD Coin




Bitcoin Is Still Gold. Although Digital One

10 Oct 2022


According to The Block, despite the global bearish trend, the number of active investors in the bitcoin network has increased by 4.5 million since January 01, 2022. The number of bitcoin addresses with a balance of at least 0.01 BTC has reached an all-time high of 10.7 million in the last few weeks alone (At the same time, about 47% of holders remain in profit, despite the flagship cryptocurrency’s long drawdown relative to the all-time high). This dynamic is due to a serious economic crisis in Europe, against which retail holders are increasingly investing in the main cryptocurrency in order to diversify risks. It suffices to cite the UK as an example, where, due to the loss of confidence in the government's fiscal policy, the pound went into a peak on September 23-26. As a result, panic-stricken investors began to convert the British currency into physical gold and crypto-assets. We wondered in the last forecast if BTC is digital gold. In the case of the UK, the answer is yes.

What happened suggests that the destabilization of traditional financial markets can benefit the crypto market. And this is not just our opinion. Billionaire Stanley Druckenmiller, a former associate of George Soros at Quantum, predicted a resurgence of digital assets amid the collapse of the fiat-based economy. He stated this at the CNBC conference. The financier expects a "hard landing" of the economy in 2023 against the backdrop of an aggressive tightening of the Fed's monetary policy.

In his opinion, quantitative easing and low rates led to bubbles in financial markets. These factors have not only been stopped now, but reversed. The Fed has begun cutting its $9 trillion balance and has already managed to raise the key rate five times to 3.25%, expecting its peak at 4.60%. “You don’t even need to talk about black swans to start worrying,” the billionaire said. In his opinion, if confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival”.

Not only Stanley Druckenmiller, but the market as a whole fear that the economy will not be able to withstand such monetary tightening. In addition to the rate hike, the monthly rate of contraction in the global money supply, according to Morgan Stanley, has reached $750 billion in dollar terms. This is leading to a deepening recession. it is only the Fed that can change the situation if it retreats from its plans to combat inflation. Looking to the future, Rich Dad Poor Dad bestselling author Robert Kiyosaki called the current situation a great opportunity to buy the first cryptocurrency and other digital assets. “Buy more. When the Fed turns around and cuts interest rates, you will smile while others cry,” he said.

Mike Novogratz, CEO of Galaxy Digital, gave a similar forecast. This expert did not rule out that the regulator may re-initiate the quantitative easing procedure at some point in order to stabilize the market situation. In his opinion, bitcoin looks quite stable even in the current macroeconomic conditions. And in the event of a change in the policy of the Fed, BTC will still be able to reach $500,000 within a few years.

As for the near future, Ardian Zdunczyk, founder and CEO of The Birb Nest, shared his forecast here. He referred to historical data, according to which the fourth quarter has always been successful for BTC. Based on this, investors can expect good returns over the next two months. True, Zdunczyk made a reservation straight away that no one would give guarantees on this score.

Another argument in favor of the pre-New Year rally, according to the specialist, is the fact that the coins rose slightly compared to their 200-day trends. Unlike fiat currencies that are on a rollercoaster ride, bitcoin is holding steady around $20,000. And now all markets are waiting for stability. They are already tired of the recession, the fall in company stocks, the gloomy forecasts of the IMF and the ill-conceived policies of the Central Banks, says Ardian Zdunczyk. Therefore, against such a background, bitcoin is becoming more and more attractive.

Against the backdrop of BTC price stability, mining-related metrics are also improving. In particular, the hash rate reached a record 242 EH/s. Analysts have estimated the “painful” breakeven threshold for miners at $18,300. According to Glassnode's calculations, 78,400 BTC could be at risk of liquidation if bitcoin goes below this price, which is derived from a mining difficulty regression model. This value is slightly higher than the June low of $17,840.

The balances of miners have 78,400 BTC, the maximum number of coins that can increase sales in case of stress for this category of market participants. At the moment, most of the sales are carried out by miners associated with the Poolin pool. In September, representatives of this company admitted that there were problems with liquidity.

Cryptocurrency strategist and trader Cantering Clark also warns that BTC could plunge to five-year lows amid weak stock markets. According to his calculations, bitcoin could fall by almost 40% from current levels if the S&P 500 stock index resumes its bearish trend. “If the S&P 500 drops to the next major area between 3,200-3,400 [pips], I think the correct assumption is that the crypto crash will be 2-3 times greater. This means at least that BTC will re-test the largest protrusion in five years: about $12,000-13,000,” the trader predicts.

However, in the short term, he believes bitcoin bulls could bring back some confidence to the market if they manage to gain a foothold above $20,000. “If we can break these local highs, I think BTC will see some momentum,” Cantering Clark thinks.

Social media users had been recently discussing vigorously the fact that October 07 will be a key day for the cryptocurrency market last week. The reason for this is the release of data on the US labor market that day. Together with CPI, these statistics allow us to predict how much the Fed can raise interest rates at its next meeting in November. And this, in turn, will certainly affect the value of risky assets, such as stocks and cryptocurrencies.

The market reacted to the release of these data by lowering the quotations of risky assets: at the time of writing the review (Friday evening, October 07), BTC/USD went below $20,000 and is trading at $19,610. The total capitalization of the crypto market is $0.946 trillion ($0.935 trillion a week ago). The Crypto Fear & Greed Index has risen only 1 point in seven days, from 22 to 23, and is still in the Extreme Fear zone.

And at the end of the review, as usual, we will try to give everyone a boost of optimism. According to US Treasury Secretary Janet Yellen, the crypto industry, left unregulated, is fraught with risks and could harm the entire US financial system. Usually, such statements were perceived by the market as a threat, and became a bearish factor for bitcoin and other cryptocurrencies. However, the Commodity Futures Trading Commission (CFTC), which oversees the US futures market, believes that proper regulation could have a powerful bullish effect on the price of BTC. CFTC chief Rostin Behnam explained that a clear regulatory framework would help boost the number of institutional investors.

There is no doubt that the US government agencies will soon squeeze the crypto industry into their regulatory “embrace”. But what if that's when Mike Novogratz's predictions come true, and we see bitcoin at around $500,000?


Is Bing a Google Killer?
Is Bing a Google Killer?
Bitcoin is back below $28000
Bitcoin is back below $28000
HFM Introduces New Virtual Analyst
HFM Introduces New Virtual Analyst
Bitcoin retreats below $25000
Bitcoin retreats below $25000
The nice Bitcoin technique
The nice Bitcoin technique
Bitcoin falls below $20000
Bitcoin falls below $20000
Bitcoin falls below the $22000
Bitcoin falls below the $22000
Powell's speech deepens bitcoin correction
Powell's speech deepens bitcoin correction
Copy Trading Strategies: How to Start Successful Copy Trading
Copy Trading Strategies: How to Start Successful Copy Trading

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.2% 79 $28 532.89 -0.14% 3.93% $551 670 149 541 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.8% 61 $1 824.10 -0.20% 4.92% $219 727 600 320 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000316 0.02% -0.05% $79 719 012 525 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 55 $315.64 -0.57% -2.11% $49 835 690 238 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999876 0% 0.01% $32 523 408 102 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 61.2% 82 $0.511375 -5.49% 14.38% $26 426 923 668 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 64.8% 68 $0.079733 -11.69% -4.21% $13 826 597 050 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 76.8% 41 $0.395366 -1.54% 12.31% $13 736 058 748 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 82% 23 $0.082097 6.31% 11.45% $11 392 170 316 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 84.8% 26 $1.12 -0.51% 3.83% $10 126 762 079 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 79.2% 36 $21.17 -1.11% 3.92% $8 163 446 069 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $0.999556 -0.03% -0.01% $7 553 833 722 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 83.6% 28 $6.34 0.07% 7.60% $7 432 742 823 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 71.6% 50 $92.91 3.13% 1.69% $6 746 413 734 LTC 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.

© 2015-2023

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.