Bitcoin
BTC$17 036.85

0.07%

Ethereum
ETH$1 263.24

-0.10%

Tether
USDT$1.000067

0%

Binance Coin
BNB$288.85

-0.25%

USD Coin
USDC$0.999980

0.01%

Binance USD
BUSD$0.999875

-0.03%

Powell did not scare crypto


03 Nov 2022

#Bitcoin

Bitcoin is trading near $20.3K – just 0.5% below levels of a day ago, although the range of fluctuations during this time has been quite significant. The initial reaction to the Fed's official comment sent BTC to $20.8K, but the press conference that followed put double the pressure on the exchange rate, forcing it to touch $20K. The crypto market has shown much more resilience to stock market distresses, adding 0.13% overnight to $1.01 trillion. Some pressure on Bitcoin and Ether, firmly tied to institutional sentiment, is balanced by altcoins shooting up one by one.

In addition to Dogecoin doubling in price in just over a week, the rallying coins included Litecoin (+13% over 24h) and Polygon (+15% so far today). Crypto investors are tired of the year-long bear market and seem open to new ideas for a pump. This could signal that the market is sufficiently cheap and rested.

News background

Bitcoin's hash rate has set a new high, likely due to big energy players entering the industry, suggested Charles Edwards, founder of Capriole Investments. According to him, the rise in hash rate amid BTC stagnation doesn't look like miners are capitulating. According to Glassnode, the first cryptocurrency's network processing capacity was 272.4 EH/s as of November 1 (smoothed by the 7-day moving average).

Stablecoins are increasingly used as collateral in DeFi services. This is according to a report from CoinMarketCap and TokenInsight. Among DeFi-ecosystems, Ethereum continues to dominate by a wide margin. Money transfer service MoneyGram has partnered with exchange Coinme to launch trading and storage options for Bitcoin, Ethereum and Litecoin in its mobile app for US users. UnionBank, the Philippines' largest bank, has announced the pilot launch of Bitcoin and Ethereum trading and storage services. The initiative is implemented in partnership with Swiss custodian Metaco.


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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 84.4% 17 $17 036.85 0.07% 0.92% $327 556 756 832 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 80.4% 28 $1 263.24 -0.10% -0.28% $154 587 986 288 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.000067 0% 0.03% $65 689 611 763 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.4% 44 $288.85 -0.25% -2.64% $46 207 469 148 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94% 1 $0.999980 0.01% 0% $43 034 408 184 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $0.999875 -0.03% 0.01% $22 097 327 307 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 85.2% 29 $0.385676 0.09% -4.09% $19 384 234 023 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 73 $0.099825 -2.40% -6.11% $13 243 856 158 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 83.2% 30 $0.317492 -0.81% 1.31% $10 940 552 708 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 71.6% 52 $0.910821 -0.40% 5.98% $7 955 397 260 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 78% 37 $5.47 -0.50% 1.57% $6 265 062 095 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 95.2% 1 $0.999729 0.04% 0% $5 876 957 032 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 61.6% 85 $79.31 -2.60% 1.08% $5 692 408 178 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 30 $0.053505 0.53% -0.76% $5 440 190 613 WTRX 7 days price change

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