Bitcoin Price and Ethereum Forecast – Can BTC Reach $30,000 This Month?
The cryptocurrency market was slightly bearish during the early European session, with the global crypto market cap falling from $944 billion to $936 billion. Bitcoin, the leading cryptocurrency, is still trading near $19,349.19, down 0.88% so far. Similarly, Ethereum is trading sideways, with a price range of $1,325 to $1,298.
However, some altcoins are trading strongly bullish, such as TerraClassicUSD, which is up more than 35% in the last 24 hours. At the same time, Huobi Token has increased by 20% to trade at $4.97. Maker is also in the spotlight for achieving more than 17% weekly gain.
Bitcoin price
The current Bitcoin price is $19,351.72, and the 24-hour trading volume is $20.35 billion. Bitcoin has fallen by 0.88% in the last 24 hours. CoinMarketCap now ranks first, with a live market cap of $371 billion.
Robert Kiyosaki, widely known as the author of the bestseller “Rich Dad, Poor Dad”, has been a prominent proponent of Bitcoin for the past two years.
Now he’s taking to Twitter to predict the impending collapse of the US dollar and the economy, declaring that Bitcoin, gold and silver are the only safe investments left.
Despite rising food and gas prices, Kiyosaki tweeted that the average person still can’t understand the big picture of the economy. The time has come to store not only Bitcoin, but also precious metals such as silver and gold.
Kiyosaki has been predicting the collapse of the USD since the beginning of the pandemic two years ago, when the Federal Reserve printed more than $6 trillion.
The Federal Reserve has raised interest rates several times this year, with some of the increases being the largest in decades. He has predicted the crash of financial markets along with the decline of the USD, calling it the biggest crash since the 1990s.
As evidenced by the aforementioned tweet, the author of “Rich Dad, Poor Dad” is making another silver bet. Because of its many uses, he predicts that the price of this precious metal will continue to rise in the coming years.
Bitcoin holders show confidence
According to crypto analytics platform Santiment, Bitcoin holders have taken thousands of dollars worth of BTC out of cryptocurrency exchanges in a single day. Over the past week, cryptocurrency exchanges saw a significant outflow of cryptocurrencies.
It was worth $683.42 million in Bitcoin, ranking fourth for the year. The sudden transfer of large amounts of BTC indicates that traders are positive about the king cryptocurrency heading into the last quarter of the year.
According to Santiment, the supply of Bitcoin on all cryptocurrency exchanges has fallen to levels not seen since the peak of the 2018 crypto bear market, indicating trading optimism.
According to the research firm, the decreasing supply of BTC on cryptocurrency exchanges reduces the likelihood of a market-wide selloff.
Bitcoin price prediction and technical outlook
Bitcoin is projected to find immediate support near $18,970 and resistance near $19,950 on the technical front. BTC remains bearish, with the 50-day moving average (MA) presenting significant resistance near $19,950.
A descending triangle pattern remains in place on the daily chart and is expected to keep Bitcoin bearish until BTC breaks out of the $20,275 resistance level.
Bitcoin has the opportunity to challenge the next resistance level of $21,905 or $22,760 if it rises above $20,475. A drop below $18,970 support, on the other hand, could bring BTC to $18416.59 or $17,709 levels.
Given the Federal Reserve’s rate-hike sentiment amid stronger-than-expected labor market and inflation numbers, Bitcoin doesn’t appear headed for $30,000 this month.
Ethereum price
The current price of Ethereum is $1,315.13, with a 24-hour trading volume of $7.04 billion. In the last 24 hours, Ethereum has fallen 0.76%. CoinMarketCap is now number 2, with a market cap of $161.41 billion.
According to data from cryptocurrency monitoring firm Santimentthis past weekend saw the largest growth for the Ethereum network in 2022. A total of 135,780 unique IPv4 addresses were added to the network over two days, an 11.1% increase from the January 3 influx.
According to Santiment, the Ethereum network is expanding at a rate not seen since December 7, 2021. Others on Twitter have also noted the abnormally robust network expansion, with one user speculating that “big moves” are imminent.
A new record high in the total number of Ethereum wallet addresses was also set over the weekend, thanks to the massive increase in activity over the weekend. Etherscan data as of Sunday indicated that there were 207.4 million different addresses in use across the network.
Ethereum price prediction and technical outlook
Technically, the ETH/USD pair is trading sideways in a narrow range of $1,325 to $1,298. On the 4-hour chart, Ethereum has formed a symmetrical triangle pattern that supports investor indecision.
On the downside, a breach of the $1,298 support level could allow investors to enter a sell trade until the next support area of $1,262 or $1,219.
Alternatively, a bullish crossover above the 50-day moving average of $1,340 could stimulate further buying until $1,380, or $1,408, is reached.
New Altcoin News
The popularity of the meme coin Tamadoge has increased since it hit a yearly low of $0.01683 in January. Tamadoge Ultra rare NFTs are in the spotlight and are now available on OpenSea for 1 WETH. The value of Tamadoge, a meme coin, has increased significantly, placing it third overall among all cryptocurrencies.
The IMPT token, the project’s initial currency, has already raised an incredible $2.7 million after just seven days of pre-sale, having sold 154 million tokens. With 630,181 votes so far, IMPT has become the most voted coin on CoinSniper.
Find the best price to buy/sell cryptocurrency:
