Bitcoin
BTC$69 852.07

-1.87%

Ethereum
ETH$3 757.14

3.02%

Tether
USDT$0.999867

0.01%

Binance Coin
BNB$620.76

3.64%

Solana
SOL$180.88

-0.72%

USD Coin
USDC$1.000070

0.05%

Crypto seeks support


26 Apr 2023

#Bitcoin

The cryptocurrency market is down 0.6% over the past 24 hours, falling to $1.15 trillion, as we see reduced volatility and attempts to "buy the bottom". Bitcoin is testing and attempting to hold above its 50-day moving average on Monday and Tuesday.  As it does so, we, for now, see some reduced volatility and attempts to form a local bottom. It could be an attempt to return to buying after a corrective pullback or a consolidation before a new downward impulse. 

Regarding technical analysis, bitcoin's correction will only become a new downtrend when the price consolidates below $26.5K, 61.8% of the upside momentum from the March lows and the bottom of last month's consolidation. According to CoinShares, investments in crypto funds fell by $30 million last week after four weeks of gains. Bitcoin investments decreased by $53 million, while Ethereum rose by $17 million. 

News background 

Significant inflows into Ethereum assets indicate growing investor confidence following the successful implementation of the Shapella update. Crypto winter is over, says Standard Chartered. Bitcoin will benefit from the turmoil in the banking sector and several other factors. By the end of 2024, the price of the first cryptocurrency could reach $100K. 

Twitter analyst PlanB, the creator of the Stock-to-Flow model, expects Bitcoin to grow significantly in 2024 after halving. He calculates that BTC will break through $100,000 and could eventually reach $542,000. In the medium term, BTC could become the world's reserve currency, according to BitMEX co-founder Arthur Hayes. More and more investors are looking to Bitcoin to preserve capital. 

The World Economic Forum (WEF) said Bitcoin mining could significantly reduce greenhouse gas emissions. But only if miners switch to renewable energy sources. Billy Marcus, the creator of the meme cryptocurrency Dogecoin, called crypto investors "mentally disturbed" and NFT buyers "even more unhealthy". He said he stopped investing in cryptocurrencies nine years ago, shortly after Dogecoin was launched.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 22 $69 852.07 -1.87% 12.84% $1 376 199 992 240 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 80% 32 $3 757.14 3.02% 29.32% $451 339 336 735 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $0.999867 0.01% 0.01% $111 349 377 052 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 89.6% 7 $620.76 3.64% 8.88% $91 614 962 914 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 76.8% 50 $180.88 -0.72% 25.52% $81 244 861 724 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000070 0.05% 0% $33 088 296 219 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90.4% 10 $0.533167 -0.51% 6.50% $29 478 240 921 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 79.2% 34 $0.167903 3.06% 15.21% $24 243 561 005 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 64.8% 71 $6.27 -5.52% -10.65% $21 780 294 562 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 82.8% 26 $0.491662 -1.42% 14.33% $17 542 722 699 ADA 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 76.8% 41 $41.45 0.99% 28.64% $16 272 718 709 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 77.6% 42 $0.000026 0.88% 11.75% $15 168 050 947 SHIB 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 83.6% 26 $7.60 1.52% 16.60% $10 930 670 735 DOT 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 82.8% 21 $69 823.38 -1.82% 12.87% $10 855 899 353 WBTC 7 days price change
15 TRON (TRX) TRX TRON predictions 92% 9 $0.123640 -0.09% -1.44% $10 809 671 444 TRX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.