Bitcoin
BTC$23 133.58

1.42%

Ethereum
ETH$1 599.61

1.91%

Tether
USDT$1.000200

0%

Binance Coin
BNB$308.24

1.67%

USD Coin
USDC$1.000019

0.01%

XRP
XRP$0.411013

1.13%

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 59.6% 88 $23 133.58 1.42% 2.54% $445 891 712 056 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62.8% 85 $1 599.61 1.91% -3.05% $195 750 597 878 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000200 0% -0.01% $67 517 933 738 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 66.8% 72 $308.24 1.67% 1.96% $48 671 544 877 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000019 0.01% 0% $43 082 295 663 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 62.4% 74 $0.411013 1.13% 0.32% $20 880 931 213 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999820 -0.03% 0% $15 795 578 015 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 60% 79 $0.388458 4.39% 7.93% $13 434 775 806 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 64% 75 $0.087652 3.23% 1.90% $11 628 821 575 DOGE 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 Polygon (MATIC) MATIC Polygon predictions 64.8% 78 $1.15 6.09% 12.97% $10 037 291 413 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 56% 90 $24.52 3.04% -1.34% $9 108 971 332 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 60.8% 87 $6.59 3.20% 5.92% $7 587 320 916 DOT 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 60% 92 $20.97 17.46% 21.07% $6 601 353 493 AVAX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62.4% 84 $0.000012 2.99% -2.16% $6 480 328 787 SHIB 7 days price change

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