Bitcoin
BTC$66 661.99

-0.78%

Ethereum
ETH$3 091.54

-1.38%

Tether
USDT$0.999955

-0.01%

Binance Coin
BNB$576.30

-0.90%

Solana
SOL$172.54

-0.95%

USD Coin
USDC$1.000055

0.01%

Ether fights for the trend


31 Aug 2022

#Ethereum

Bitcoin has stopped falling but has still not managed to gain strength to rise, remaining near $20K. Ethereum remains more interesting for buyers, increasing 1.6% overnight to above $1600. Top altcoins showed mixed dynamics: from a decline of 1.3% (Dogecoin) to a rise of 2.2% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 0.2% overnight to $997bn. The Cryptocurrency Fear & Greed Index fell 4 points to 23 by Wednesday and moved into "extreme fear" status.

The upcoming move to proof-of-stake creates a speculative component to Ethereum's dynamics. While in the short term, after September 6, there could be a "sell-through," causing pressure on the price, in the longer term, such a transition will strengthen interest in using Ethereum for transactions, making them cheaper. This promises more interest in the coin, allowing it to remain "better than the market".

On the data analysis side, ETHUSD is trying to get back above the 50-day average, which is an informal indicator of the medium-term trend. A consolidation above $1620, like in July, could be a prolonged rally with possible targets at $2000-2200 in the nearest future. The opposite is also true. A reversal down from this level will weaken bulls, as it did in February and April, triggering a new decline towards $1000.

Bitcoin has stopped falling but has still not managed to gain strength to rise, remaining near $20K

News background

Some 5,000 BTCs, which have been in "hibernation" for the past 7-9 years, are on the move, said Look Into Bitcoin founder Philip Swift, citing data from the Whale Shadows indicator. Historically, such spikes in activity have preceded significant price declines.

Ethereum remains more interesting for buyers, increasing 1.6% overnight to above $1600

A link has been established between the 10,000 BTC, which on August 29 went in motion for the first time since 2013, and the bankrupt cryptocurrency exchange Mt.Gox, a Telegram channel reported.

Meanwhile, the US Federal Bureau of Investigation has advised investors to be wary of investing in decentralised finance (DeFi) projects as they are too vulnerable to hacking.

Iranian authorities have approved a comprehensive law regulating cryptocurrency transactions. In particular, imports from abroad with payment in digital assets are allowed.


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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 85.2% 20 $66 661.99 -0.78% 9.21% $1 313 286 357 219 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 86.4% 20 $3 091.54 -1.38% 7.12% $371 376 449 299 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $0.999955 -0.01% 0.03% $111 429 922 801 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 89.6% 6 $576.30 -0.90% -1.94% $85 054 179 016 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 78.8% 42 $172.54 -0.95% 22.98% $77 471 147 278 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000055 0.01% 0% $33 497 191 204 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 88.8% 8 $0.512600 -2.07% 4.18% $28 341 122 489 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 70.8% 65 $6.34 -1.61% -7.69% $22 023 425 481 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 79.2% 30 $0.151251 -3.02% 10.32% $21 834 921 284 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 84% 23 $0.469351 -2.51% 9.51% $16 746 496 038 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.4% 41 $0.000024 -4.51% 9.69% $14 044 244 503 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 80% 38 $36.06 -4.38% 11.66% $13 802 975 866 AVAX 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 85.6% 18 $0.121333 -0.92% -4.35% $10 609 537 077 WTRX 7 days price change
14 TRON (TRX) TRX TRON predictions 86% 21 $0.121321 -0.96% -4.20% $10 608 524 161 TRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 89.2% 18 $66 645.37 -0.66% 9.24% $10 363 126 056 WBTC 7 days price change

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