Bitcoin prices are retracing today
Bitcoin prices are retracing today, and they have failed to stay above the 50K mark which is worrisome for many crypto traders because this shows weakness in the current upward trend. If the price continues to trade below this mark, we are likely to visit the early 40K price level again. The last twelve months have been extremely important for the digital sector. Despite the recent slump in Bitcoin prices, the price of the notorious digital currency has surged by a whopping 70%.
Furthermore, cryptocurrencies have not only achieved a higher market valuation, which is now estimated to be $2.5 trillion, nearly twice that of a year ago, but have also persuaded governments and institutional investors that blockchain technology has the potential to revolutionise traditional finance. This led to greater acceptance of digital currencies not just as a mode of investment but also as a legal tender in El Salvador.
On the other hand, investors should also keep in mind that China, the second-biggest economy in the world, moved to aggressively ban mining of cryptocurrencies within its borders, and India is also considering adopting similar measures in coming months. Similarly, mining of digital coins still consumes too much power, which can prove to be detrimental to the environment in the long term. Having said that, companies are working hard to find solutions to these issues and make the adoption of cryptocurrencies a reality in the near future.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 72.8% | 51 | $27 686.50 | -1.54% | 12.26% | $535 055 944 515 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 82% | 34 | $1 753.83 | -2.24% | 5.65% | $214 622 976 485 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $1.002131 | 0.08% | -0.07% | $77 601 370 004 |  |
|
| 4 |  BNB |
Binance Coin predictions | 77.2% | 47 | $324.49 | -3.72% | 0.92% | $51 234 239 201 |  |
|
| 5 |  USDC |
USD Coin predictions | 90.4% | 2 | $0.999458 | 0.08% | -0.04% | $34 703 015 524 |  |
|
| 6 |  XRP |
XRP predictions | 87.2% | 17 | $0.451417 | -1.31% | 23.74% | $23 000 119 507 |  |
|
| 7 |  HEX |
HEX predictions | 62.4% | 82 | $0.123358 | 18.48% | 52.30% | $21 391 630 916 |  |
|
| 8 |  ADA |
Cardano predictions | 73.6% | 46 | $0.369965 | -1.76% | 12.89% | $12 844 876 045 |  |
|
| 9 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 68.8% | 57 | $0.075005 | -1.31% | 6.24% | $9 950 971 303 |  |
|
| 11 |  MATIC |
Polygon predictions | 71.2% | 51 | $1.12 | -1.91% | -0.94% | $9 797 674 979 |  |
|
| 12 |  SOL |
Solana predictions | 70.4% | 54 | $21.69 | -3.00% | 10.97% | $8 322 389 970 |  |
|
| 13 |  BUSD |
Binance USD predictions | 94.4% | 1 | $0.999370 | -0.05% | -0.07% | $8 058 942 746 |  |
|
| 14 |  DOT |
Polkadot predictions | 74% | 51 | $6.17 | -2.34% | 2.98% | $7 212 834 820 |  |
|
| 15 |  LTC |
Litecoin predictions | 68.4% | 58 | $87.92 | 8.34% | 11.30% | $6 377 673 020 |  |
