Bitcoin
BTC$66 117.27

0.98%

Ethereum
ETH$3 560.84

5.16%

Tether
USDT$0.999440

-0.01%

Binance Coin
BNB$606.60

1.97%

Solana
SOL$144.88

2.51%

USD Coin
USDC$1.000033

0%

Cryptocurrencies wait for a signal


23 May 2023

#Ethereum

Cryptocurrency market capitalisation fell 2% over the week to $1.12 trillion, mostly fluctuating between $1.11 trillion and $1.14 trillion. The market is in no hurry to pick a trend, bringing the cap back into its chosen range and moving on to news of the US debt ceiling and the Fed's next move. Bitcoin is back below $27K this new week, finding support from buyers on dips to the 200-week moving average, which is a notable indication the market still believes in the return of a long-term uptrend in Bitcoin. It is also a bullish signal for the cryptocurrency sector.

On the other hand, if Bitcoin fails to push back from this support soon, it will be an excuse for the bears to increase the pressure. Ethereum has been treading water for around $1810 all last week, clearly waiting for an outside signal. Other top ten altcoins showed mixed dynamics, ranging from a 4.6% drop (Solana) to an 8.5% rise (XRP).

News background

Crypto whales could soon start selling Bitcoin, according to Lookonchain. Experts have highlighted the transfer of 1,750 BTC to the Binance exchange. The pressure will mount if other holders follow suit. Robert Kennedy Jr, US presidential candidate who has consistently supported digital assets, called Bitcoin "an exercise in democracy". The politician has pledged to protect the rights of Bitcoin owners and miners if he is elected the next US president.

Heisenberg Capital founder Max Keiser agreed with SEC chief Gary Gensler that all crypto assets other than bitcoin should be considered securities. He cited the example of El Salvador, where BTC has been legalised, and this adoption model could become the standard. MicroStrategy founder Michael Saylor said the company wants to use the Ordinals protocol to build applications. He believes that Bitcoin NFT technology has the potential to drive innovation in the digital asset market. A 30% tax on cryptocurrency mining proposed by US President Joe Biden would force the industry offshore, said Marathon Digital CEO Fred Thiel.


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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 87.2% 16 $66 117.27 0.98% -4.80% $1 303 332 000 083 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 41 $3 560.84 5.16% -3.50% $427 834 855 076 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999440 -0.01% -0.05% $112 496 861 451 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82% 33 $606.60 1.97% -11.51% $89 524 105 392 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 82.8% 28 $144.88 2.51% -9.63% $66 888 447 449 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 3 $1.000033 0% -0.01% $32 442 980 746 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 80.4% 27 $0.487419 4.18% -1.25% $27 086 102 035 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 73.2% 49 $0.136282 2.81% -6.48% $19 723 035 913 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 74.8% 51 $7.99 0.86% 12.55% $19 444 566 923 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 80.8% 29 $0.411984 1.76% -5.24% $14 718 291 556 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56.4% 94 $0.000021 4.34% -10.90% $12 216 301 796 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 75.2% 49 $30.12 1.98% -7.28% $11 844 550 609 AVAX 7 days price change
13 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 91.6% 1 $66 267.02 1.38% -4.57% $10 154 475 669 WBTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 89.2% 19 $0.114893 -0.95% 0.45% $10 044 287 860 WTRX 7 days price change

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