Bitcoin
BTC$24 129.38

4.39%

Ethereum
ETH$1 804.53

5.98%

Tether
USDT$1.000145

0%

USD Coin
USDC$0.999924

0%

Binance Coin
BNB$331.99

4.39%

XRP
XRP$0.382330

2.12%

Bitcoin remains in ascending corridor


05 Aug 2022

#Bitcoin

Bitcoin was down 3.5% on Thursday, ending at around $22,500, but almost fully recovered its losses on Friday morning. As a result, changes over the past 24 hours are minimal, with a 0.2% gain to 23,200, with an amplitude of around 4%. Ethereum was trading near $1660 versus $1650 at the same time yesterday.

Other leading altcoins added between 0.4% (XRP) and 2.6% (BNB). Total market capitalisation, according to CoinMarketCap, rose 0.4% overnight to $1.08 trillion. The cryptocurrency Fear & Greed Index rose 1 point to 31.

Bitcoin has been under pressure all Thursday, despite continued positive stock market momentum and a general increase in demand for risk. Such dynamics of the crypto market again show how far it is from the sentiment that pushed the price ahead in the past two years.

Bitcoin remains in ascending corridor

From another perspective, BTCUSD has reversed to the upside this morning just above the lower boundary of its accending corridor, held for the last seven weeks and stayed above its 200-week moving average.

New background

Ark Invest calculates that BTC has fallen below the 200-WMA only seven times in history. After recovering above that line, the annual return on the asset has averaged around 240%. Along with the uptrend, the difficulty of mining increased by 1.74% for the first time in two months.

BTC has fallen below the 200-WMA only seven times in history

Mastercard noted that it views cryptocurrencies as an asset class rather than a means of payment because of their volatility in price. Stablecoins and DH digital currencies have a better chance of occupying this niche.

FTX CEO Sam Bankman-Fried praised a bill introduced in the US Congress that would give the authority to regulate the crypto market - the Futures Trading Commission (CFTC).

The recent hack of the Project Nomad bridge, in which hackers managed to take out $190 million in assets, was the 13th hack in the industry since the beginning of the year. According to Chainalysis, the total amount of damage was $2bn. Blockchain security agency SlowMist believes that cryptocurrencies are safer than DeFi and firewalls. According to Peckshield, hackers withdrew $4.8m from ZB, a decentralised crypto exchange that claimed to be the most secure in the world.


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Bitcoin retreats from the upper boundary of an uptrend channel
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Bitcoin dipped into a flat
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Cryptocurrencies rise after equities
Cryptocurrencies rise after equities
BTC continues consolidating at $20225
BTC continues consolidating at $20225

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76% 40 $24 129.38 4.39% 4.16% $461 254 701 638 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.4% 74 $1 804.53 5.98% 8.69% $219 936 602 750 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000145 0% -0.01% $66 486 165 109 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $0.999924 0% 0.01% $54 212 170 056 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 68% 61 $331.99 4.39% 16.48% $53 562 837 067 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 80.8% 40 $0.382330 2.12% 1.69% $18 483 019 171 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 73.2% 52 $0.543298 4.60% 6.44% $18 337 708 125 ADA 7 days price change
8 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000576 0.04% 0.21% $17 888 223 823 BUSD 7 days price change
9 Solana (SOL) SOL Solana predictions 74% 44 $43.21 6.94% 2.89% $15 048 127 510 SOL 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 69.2% 58 $9.31 8.45% 10.51% $10 288 809 309 DOT 7 days price change
11 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
12 HEX (HEX) HEX HEX predictions 70% 62 $0.054472 8.20% 10.77% $9 446 016 831 HEX 7 days price change
13 Dogecoin (DOGE) DOGE Dogecoin predictions 82.8% 27 $0.071055 2.78% 4.16% $9 426 956 868 DOGE 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 68% 69 $30.28 10.86% 30.10% $8 614 953 421 AVAX 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 64.8% 77 $0.946930 3.64% 4.99% $7 608 398 583 MATIC 7 days price change

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