Bitcoin
BTC$16 815.91

2.46%

Ethereum
ETH$1 262.81

4.49%

Tether
USDT$0.999941

0.02%

Binance Coin
BNB$298.40

-0.55%

USD Coin
USDC$0.999977

-0.02%

Binance USD
BUSD$1.000510

0.01%

Crypto market clings to last line of defence


15 Dec 2021

#Bitcoin

Bitcoin continues to cling to its 200-day simple moving average, calming the entire crypto market. In the past 24 hours, the total value of all cryptocurrencies rose 3.3% to $2.19 trillion. The Fear and Greed Index rose 7 points to 28, which it was a week ago. Bitcoin has stabilised near the $48K level, keeping almost equal chances for gains and declines. A meaningful move away from the 200-day moving average line in one direction or the other promises to kick-start a strong momentum.

Today the financial markets are wary of the words of the Fed Chairman and the comments of the FOMC. Deviations from expectations can affect the whole financial world, including bitcoin. And through it, the entire spectrum of cryptocurrencies. Ether has been showing close to zero momentum since the start of the day, remaining at $3850. On the chart, it is easy to see the activation of the bears near the 50-day moving average: a sharp breakdown in early December when this line became a resistance.

The significant exception was the DOGE. Dogecoin soared more than 40% after Musk tweeted that Tesla was considering selling merchandise for this coin. The explosive growth here is more of a secondary effect of its low liquidity and knee-jerk reaction to the message of Twitter’s chief influencer. Overall, there is also a downtrend here, which has taken 40% off the price from November 8th.

However, taking a step back, it is still worth remaining cautious about expectations from the Fed and market dynamics after the announcement. Bitcoin’s technical support and Ether’s attempts to hold near $4000 are more likely to be buyers’ last hope of maintaining the illusion of a bull market. Overall, however, cryptocurrencies have been in a downtrend for more than a month now. These are not sharp dips and short squeezes but methodical selling by funds, as they are very similar to the dynamics of traditional markets. Other coins, where there are few market professionals, have a general downward trend.


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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 61.2% 80 $16 815.91 2.46% 2.22% $323 213 771 261 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.8% 79 $1 262.81 4.49% 8.80% $154 535 308 538 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.999941 0.02% 0.09% $65 358 819 507 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 66.4% 67 $298.40 -0.55% 0.49% $47 735 233 591 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $0.999977 -0.02% -0.02% $43 305 374 728 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000510 0.01% 0.08% $22 176 670 935 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 68.8% 66 $0.402021 2.91% 7.66% $20 217 649 686 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 58.4% 85 $0.104544 2.73% 30.58% $13 869 988 356 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 59.6% 81 $0.313452 1.39% 0.62% $10 795 931 462 ADA 7 days price change
10 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
11 Polygon (MATIC) MATIC Polygon predictions 63.6% 72 $0.866314 4.01% 2.62% $7 566 657 745 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 69.6% 67 $5.37 2.22% 0.69% $6 126 105 270 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 90.8% 1 $0.999600 0% 0.02% $5 652 893 809 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 62% 74 $77.93 2.83% -0.18% $5 589 341 445 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 68.8% 66 $0.053825 0.77% 5.80% $5 472 681 192 WTRX 7 days price change

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