Bitcoin
BTC$26 210.63

0.14%

Ethereum
ETH$1 595.67

0.61%

Tether
USDT$0.999302

-0.03%

Binance Coin
BNB$211.82

0%

XRP
XRP$0.502536

-0.41%

USD Coin
USDC$1.000082

0%

Bitcoin's Bullish Pattern


08 Feb 2022

#Bitcoin

On Monday, Bitcoin rose 5.5%, ending the day around $44,100. Ethereum added 5%, and other leading altcoins from the top ten also showed growing dynamics: from 4% (Solana) to 18.5% (XRP). The total capitalization of the crypto market increased by 5.5% over the day to $2.10 trillion. The Bitcoin dominance index has not changed, remaining at 39.2%. The Bitcoin chart continues to paint a bullish picture. With the price at $45K on Tuesday morning, BTCUSD is trading above the 50-day moving average just above the mid-January pivot area and above the down channel resistance level.

At the same time, the RSI on the daily charts has not yet entered the overbought area, leaving room for further growth. The same can be said about the entire cryptocurrency market, where the fear and greed index has reached a neutral point of 48 and is still far from the greed area. The next target for the bulls looks to be $48K, the December support area in December. Further targets are $49-50K, where the 200-day moving average and significant round level are concentrated.

The XRP token soared amid reports of a significant approach to the resolution of Ripple's legal dispute with the US Securities and Exchange Commission (SEC). Cryptocurrencies briefly stopped responding to movements in US stock indices, which started the week with a decline.

The purchases probably included retail investors, who were driven by the desire not to miss the beginning of the market growth (FOMO). However, their buying potential is unlikely to be enough if stock indicators intensify their decline and large institutional investors come into play, wishing to resume profit-taking.

KPMG, one of the world's largest auditors, has added Bitcoin and Ethereum to its Canadian division's corporate reserves. This is the firm's first direct investment in cryptocurrencies.

Meanwhile, at the end of 2021, Tesla received a loss of $ 101 million from a decrease in the cost of previously purchased bitcoins, which it spent $ 1.5 billion on. Previously, Elon Musk called the decision to acquire BTC as a reserve asset quite risky.


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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 90.4% 4 $26 210.63 0.14% -3.74% $511 042 042 519 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94.4% 6 $1 595.67 0.61% -2.12% $191 853 154 532 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.999302 -0.03% -0.08% $83 208 764 786 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.6% 4 $211.82 0% -1.92% $32 587 966 771 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 91.6% 8 $0.502536 -0.41% -3.20% $26 757 645 992 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000082 0% 0.01% $25 524 583 774 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 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 85.6% 16 $0.084835 1.21% 0.19% $8 625 708 807 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 90% 10 $0.243814 -0.40% -4.25% $8 564 830 439 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 91.6% 6 $0.060492 0.30% -3.04% $8 540 349 300 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 84.8% 23 $18.92 -1.40% -6.80% $7 810 238 767 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 85.6% 20 $0.085185 0.79% 0.50% $7 589 746 104 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 58.8% 86 $2.17 0.23% -11.19% $7 446 763 148 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 91.2% 1 $0.999141 -0.05% -0.07% $5 343 294 102 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 85.2% 16 $4.00 -0.11% -2.82% $4 915 661 831 DOT 7 days price change

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