Bitcoin
BTC$57 317.30

6.05%

Ethereum
ETH$4 329.98

7.71%

Binance Coin
BNB$609.13

5.53%

Tether
USDT$1.000821

-0.05%

Solana
SOL$201.89

8.26%

Cardano
ADA$1.59

7.07%

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 78.8% 42 $57 317.30 6.05% 0.30% $1 082 493 482 173 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.4% 32 $4 329.98 7.71% 4.10% $513 241 890 424 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 53 $609.13 5.53% 7.08% $101 603 589 194 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000821 -0.05% 0.02% $73 181 280 297 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 65 $201.89 8.26% -7.12% $61 384 548 102 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 60 $1.59 7.07% -11.22% $52 994 241 732 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 74.4% 51 $0.977796 7.55% -5.78% $46 111 849 720 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $1.000263 -0.02% 0.06% $38 400 714 618 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 66% 75 $36.34 10.39% -9.36% $35 892 371 416 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 74 $0.205075 3.31% -7.25% $27 132 327 967 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 75 $113.04 7.34% -14.94% $25 302 145 754 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62% 77 $0.000040 5.31% -9.51% $21 695 676 622 SHIB 7 days price change
13 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 56% 90 $0.763021 5.29% 12.83% $19 276 211 216 CRO 7 days price change
14 Terra (LUNA) LUNA Terra predictions 64.8% 72 $48.97 15.39% 19.64% $19 240 048 048 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 74.4% 46 $56 434.66 5.79% -0.91% $14 304 839 863 WBTC 7 days price change

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