Bitcoin
BTC$51 427.87

-0.18%

Ethereum
ETH$2 989.24

1.67%

Tether
USDT$0.999454

-0.06%

Binance Coin
BNB$385.05

0.07%

Solana
SOL$102.45

-1.41%

XRP
XRP$0.542899

-0.56%

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 61.2% 78 $51 427.87 -0.18% -1.05% $1 009 785 801 704 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 63.2% 76 $2 989.24 1.67% 5.09% $359 189 739 849 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999454 -0.06% -0.16% $97 789 912 036 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 69.2% 63 $385.05 0.07% 8.22% $57 581 064 669 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 75.2% 53 $102.45 -1.41% -9.71% $45 175 701 615 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 86.8% 21 $0.542899 -0.56% -3.50% $29 619 835 373 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000080 0.01% 0.02% $28 031 263 934 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 67.2% 64 $0.593051 -0.09% -1.89% $21 032 395 764 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 68.8% 61 $36.82 -1.78% -11.35% $13 886 248 114 AVAX 7 days price change
10 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 71.2% 60 $0.139307 -0.05% 6.45% $12 262 023 323 WTRX 7 days price change
11 TRON (TRX) TRX TRON predictions 71.2% 60 $0.139115 -0.20% 6.04% $12 245 136 046 TRX 7 days price change
12 Dogecoin (DOGE) DOGE Dogecoin predictions 88% 12 $0.084450 0.21% -1.42% $12 091 969 176 DOGE 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 67.6% 68 $18.24 -1.12% -8.46% $10 706 752 451 LINK 7 days price change
14 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
15 Polkadot (DOT) DOT Polkadot predictions 76% 50 $7.51 1.20% -3.15% $9 629 855 982 DOT 7 days price change

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