Bitcoin
BTC$22 939.67

-3.65%

Ethereum
ETH$1 680.06

-5.25%

Tether
USDT$1.000237

0.01%

USD Coin
USDC$0.999848

0%

Binance Coin
BNB$319.45

-1.52%

Binance USD
BUSD$1.000292

0%

Cryptocurrencies shake off the fears


05 Oct 2021

#Bitcoin

Bitcoin starts the week at $48K, maintaining a positive outlook after a spike over the weekend. The price momentum pushed the first cryptocurrency up to $49K over the weekend, with other coins following Bitcoin upward. After reaching local highs, a cautious sell-off began. However, judging by current high prices, optimism in the market prevails over pessimism. The total capitalization of cryptocurrencies has once again surpassed the $2 trillion thresholds, amounting to $2.1 trillion as of this writing. The first cryptocurrency capitalization is approaching $900 billion. The Crypto Fear & Greed Index for Bitcoin and major cryptocurrencies jumped from last week to 54, which corresponds to a “neutral” mode, fully reflecting what is happening in the crypto market. As recently as last week, the sector was in “fear” mode.

Bitcoin Daily Chart

Bitcoin remains the locomotive of the crypto market, and now all crypto market participants will be watching the prospects of overcoming the circular level of $50K very closely. Even an unsuccessful attempt to overcome it will be very positively perceived by all market participants. If the coin manages to consolidate higher, we can count on the appearance of a new impulse of demand. In this situation, even a sideways price trend can be positive, as investors increasingly see that the absence of price fluctuations does not always mean that a sale is coming.

The neutral position of US regulators can make a significant contribution to the growth of crypto. Head of the Federal Reserve, Jerome Powell, said that there are no plans to ban cryptocurrencies, but some coins need regulation. In this case, we are likely talking about stable cryptocurrencies, which “parasitize” on the US dollar. Bitcoin’s volatility and relatively small capitalization size (compared to the traditional market) so far give it protection from regulatory pressure.

China, meanwhile, bans access to crypto information resources, including CoinMarketCap and CoinGecko. Beijing has consistently restricted its citizens’ access to cryptocurrencies. In this case, though, it is worth noting that the Chinese firewall will only keep the laziest away from this information. The VPN in the digital age is becoming one of the paramount applications on any device. In addition, not all crypto-exchanges and other resources are KYC compliant, so the Chinese may well continue to use cryptocurrencies. The Chinese government’s actions could make it more difficult, expensive, and dangerous for its citizens to use cryptocurrencies.

Total Cryptocurrency Market Cap

The authorities of Western countries probably understand the reality, so we will not see similar bans from the US and the EU. However, there is no doubt that the authorities of developed economies have several main tasks in the crypto sector: maximum tax collection and avoiding competition with the dollar or euro. Now the cryptocurrency market is entering its most active phase right up to Christmas and the New Year. If digital currencies continue to grow, we can see how much patience regulators have. Cryptocurrencies are not a priority for regulators right now, so investors will likely have time to make the most of the sector.


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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 78.4% 35 $22 939.67 -3.65% -0.43% $438 548 196 646 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.8% 68 $1 680.06 -5.25% 2.68% $204 805 525 877 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000237 0.01% 0.01% $66 533 700 340 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999848 0% -0.03% $54 011 865 153 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 71.2% 62 $319.45 -1.52% 10.96% $51 538 467 752 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000292 0% 0.01% $17 756 480 503 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 77.6% 36 $0.362409 -3.72% -2.15% $17 519 965 274 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 72% 50 $0.510338 -4.17% 0.93% $17 218 297 210 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 73.6% 44 $39.52 -6.65% 2.24% $13 768 809 765 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 93.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 68.8% 62 $8.65 -4.95% 7.88% $9 563 739 618 DOT 7 days price change
12 HEX (HEX) HEX HEX predictions 64.8% 70 $0.054819 1.28% 19.27% $9 506 188 307 HEX 7 days price change
13 Dogecoin (DOGE) DOGE Dogecoin predictions 81.6% 28 $0.068036 -7.62% 1.11% $9 026 356 228 DOGE 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 55 $27.33 -3.28% 16.23% $7 788 396 850 AVAX 7 days price change
15 Dai (DAI) DAI Dai predictions 92% 1 $0.999960 0.02% -0.02% $7 525 786 587 DAI 7 days price change

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