Bitcoin
BTC$20 862.60

-1.98%

Ethereum
ETH$1 196.92

-2.33%

Tether
USDT$0.999145

-0.04%

USD Coin
USDC$1.000144

-0.01%

Binance Coin
BNB$233.66

-1.64%

Binance USD
BUSD$0.999879

-0.17%

Bitcoin Reverses Wednesday’s Losses, Ether Climbs


29 Jan 2021

#Bitcoin

Bitcoin’s price reversed Wednesday’s losses on Thursday. Traders and analysts, however, have largely kept a short-term bearish view because some are attributing gains in bitcoin and other cryptocurrencies to GameStop’s stock drama. Bitcoin (BTC) trading around $32,607.78 as of 21:00 UTC (4 p.m. ET). Gaining 3.17% over the previous 24 hours. Bitcoin’s 24-hour range: $29,921.96-$32,934.56. BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

GameStop’s stock drama seems to be galvanizing not just stock markets but bitcoin and other cryptocurrencies, many of which reversed their losses of just a day ago, similar to what happened in the U.S. equities market. The most notable winner was dogecoin (DOGE), which hit a new all-time high earlier Thursday.

Few attribute bitcoin’s price gains Thursday to market fundamentals. That’s because the crypto community still looks to be distracted by the GameStop (NYSE: GME) situation. A group of Redditors on a board called WallStreetBets (WSB) sent the video game retailer’s shares skyrocketing in order to squeeze hedge funds that were betting the stock’s price would go down.

On the technical side, bitcoin is near short-term oversold levels, yet momentum is still on the downside, according to Katie Stockton, managing partner at Fairlead Strategies.

Retailer traders’ fear of missing out (FOMO) may be the big driver of both equity and crypto markets at the moment, but it isn’t clear if new institutional investors are buying more bitcoin, which could affect its price. As CoinDesk reported previously, many institutions may be pausing bitcoin purchases until they have further clarification on how the new Biden Administration views bitcoin and other cryptocurrencies.

Source


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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 55.6% 92 $20 862.60 -1.98% 3.65% $398 029 830 130 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 88 $1 196.92 -2.33% 8.15% $145 213 720 865 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $0.999145 -0.04% 0.01% $66 810 101 922 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000144 -0.01% -0.01% $55 810 644 482 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 88 $233.66 -1.64% 9.10% $38 151 323 562 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999879 -0.17% 0.06% $17 387 273 873 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 63.2% 80 $0.353119 -3.13% 10.71% $17 070 867 914 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 64.8% 78 $0.485901 -3.06% -0.43% $16 400 414 907 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 64.8% 71 $38.33 -5.68% 10.47% $13 131 783 179 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 59.2% 85 $0.072123 -0.83% 21.93% $9 568 648 805 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 64.4% 81 $7.78 -3.17% 0.55% $7 686 366 532 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 96% 1 $0.999656 -0.02% -0.04% $6 795 067 803 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 56% 88 $0.067970 3.95% 11.56% $6 287 063 791 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 60.4% 78 $0.000011 -4.07% 36.02% $6 018 323 272 SHIB 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 57.6% 92 $20 815.72 -2.06% 3.43% $5 507 396 530 WBTC 7 days price change

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