Bitcoin
BTC$26 928.47

-0.71%

Ethereum
ETH$1 665.19

0.42%

Tether
USDT$0.999859

-0.02%

Binance Coin
BNB$215.67

0.18%

XRP
XRP$0.532033

4.66%

USD Coin
USDC$1.000025

-0.03%

Bitcoin: local positive, but potentially sideways for the year


21 Mar 2022

#Bitcoin

Bitcoin gained 6.3% over the past week, finishing near $41.3K. The price retreated slightly to $41.0K on Monday morning, losing 2.1% over the last 24 hours. Ethereum has corrected by 2% over the same period but still added 11.6% to the price seven days ago. Other leading altcoins in the top 10 have gained between 7.3% (Polkadot) and 24.8% (Avalanche) over the past week.

Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 7.5% for the week to $1.86 trillion. The Bitcoin Dominance Index fell 0.6 points to 41.9% due to outperforming altcoins. The Cryptocurrency Fear and Greed Index rose 7 points for the week to 30 and moved into "fear" from "extreme fear".

Last week turned out to be a good one for the crypto market, with bitcoin rising the most in six weeks. Last Wednesday, the US Federal Reserve meeting weakened the dollar and boosted stocks, which benefited all risky assets, including cryptocurrencies.

Bitcoin Daily Chart

Meanwhile, bitcoin has continued to trade in a sideways range of $38-45K for the second month, with a closer look marked by a sequence of declining local highs with bullish momentum fading near 42 in the last two weeks. The positive sentiment is supported by the 50-day moving average reversing upwards. BTCUSD broke it in a relatively strong move on March 16th, and it has been acting as local support ever since.

The external environment in the financial markets remains mixed. Traders have tighter financial conditions due to higher rates and waning economic growth on one side of the scale. On the other side is the demand for purchasing power insurance for capital due to the highest inflation in two generations. Weighing these factors, Galaxy Digital head Mike Novogratz said bitcoin would continue to trade in a sideways range this year. He said BTC will resume growth and reach $500K by 2025 as inflation curbing measures are too weak.

Piyush Gupta, chief executive of Singapore's largest bank, DBS, said cryptocurrencies could be an alternative to gold but would not be able to fit into the traditional financial system due to excessive volatility.


Related

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
Bitcoin sticks to bull trend on banks' woes
Bitcoin sticks to bull trend on banks' woes

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 96% 2 $26 928.47 -0.71% 1.47% $525 089 762 777 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94% 3 $1 665.19 0.42% 4.57% $200 215 397 562 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999859 -0.02% -0.02% $83 264 814 922 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.8% 2 $215.67 0.18% 2.40% $33 180 858 234 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 92.8% 8 $0.532033 4.66% 3.39% $28 363 921 577 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000025 -0.03% 0% $25 224 083 856 USDC 7 days price change
7 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
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 85.2% 26 $0.089033 3.90% 6.31% $9 052 505 410 WTRX 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 90.4% 6 $0.061973 0.87% 0.88% $8 751 141 540 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 90% 7 $0.249024 -0.02% 2.13% $8 747 839 413 ADA 7 days price change
11 Solana (SOL) SOL Solana predictions 86.8% 18 $20.25 2.78% 4.53% $8 360 680 712 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 85.6% 22 $0.089574 3.69% 7.57% $7 978 844 652 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 62.8% 84 $2.21 -0.96% -3.88% $7 601 171 597 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 94% 1 $0.999946 -0.07% 0.05% $5 347 597 900 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 93.2% 7 $4.08 -0.14% 1.68% $5 010 206 612 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.

© 2015-2023 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.