Bitcoin
BTC$37 974.79

2.65%

Ethereum
ETH$2 055.28

2.12%

Tether
USDT$1.000205

0.02%

Binance Coin
BNB$230.20

1.89%

XRP
XRP$0.611671

2.00%

Solana
SOL$58.20

6.66%

Bitcoin recharges with optimism, aims for a $25K area


23 Jan 2023

#Bitcoin

Bitcoin is up 7.7% over the past week, trading at $22.7K on Monday morning. Ethereum added less - only 4.1% to $1640. Other leading altcoins in the top 10 have gained between 0.4% (BNB) and 12.7% (Shiba Inu). The exception was Polygon (-1.8%). The total capitalisation of the crypto market, according to CoinMarketCap, rose 5.1% to $1.045 trillion during the week. The bitcoin rally pulled up the entire crypto market. And buying in BTC, in turn, intensified after US stock indices reversed to higher late Friday afternoon. 

Like in the good old days, the crypto market is feeding off the rise in stock indices but growing ahead of the curve. Moreover, at the expense of reduced liquidity, the price surpassed $23K for the first time since August last year.

Bitcoin has started a new bull market and is headed for $24.8K, where the psychologically important 200-week moving average and the 161.8% Fibonacci level of the momentum from the December lows are concentrated. The 50-week MA is headed to the same area. The market may need a long recharge and consolidation before a new upside wave begins.

Bitcoin is up 7.7% over the past week, trading at $22.7K on Monday morning

News background

DCG holding company Genesis Global Capital has filed for bankruptcy, and its case could be heard as early as 23 January. According to Genesis, the company has defaulted more than $3.6bn to its 50 largest creditors. The company's total debt obligations could be as high as $11bn. The IMF has called for additional measures to regulate the crypto market to avoid the volatility of cryptocurrencies, which affects banks and financial institutions. The Fund calls for virtual assets to be distinct from traditional assets and to prevent the substitution of fiat currencies in the economy with crypto assets, primarily stablecoins.

Bitcoin has started a new bull market and is headed for $24.8K

Moody's has once again downgraded the long-term credit rating of cryptocurrency exchange Coinbase and its unsecured bond rating. Moody's said that the downgrade to non-investment grade B2 reflects a significant weakening of Coinbase's earnings in 2022. The digital renminbi platform has been updated. A significant innovation was support for smart contracts, which give several new uses for China's state-owned cryptocurrency. On 16 January, the digital yuan was used for the first time to buy securities.


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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 94% 7 $37 974.79 2.65% 3.21% $742 620 081 767 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76% 50 $2 055.28 2.12% 3.49% $247 134 847 899 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000205 0.02% -0.01% $88 917 133 121 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 83.2% 25 $230.20 1.89% -4.06% $34 920 472 818 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 74.4% 42 $0.611671 2.00% 2.53% $32 918 272 630 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 59.2% 87 $58.20 6.66% 8.25% $24 645 476 442 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999716 -0.02% -0.02% $24 482 991 365 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 71.6% 62 $0.385539 3.00% 4.21% $13 608 842 925 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74.8% 48 $0.080387 3.60% 7.77% $11 416 474 493 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 82.8% 27 $0.103195 0.78% 6.00% $9 138 361 208 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 30 $0.103028 0.42% 5.47% $9 123 536 549 WTRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 81.6% 31 $2.42 -0.45% 3.16% $8 314 438 840 TON 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 63.6% 69 $14.57 3.63% 4.11% $8 113 407 755 LINK 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 86 $20.64 2.41% 0.41% $7 534 681 892 AVAX 7 days price change

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