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  • Bitcoin price prediction as the US dollar index plummets

    Bitcoin price prediction as the US dollar index plummets

    • Bitcoin price has been in a tight range in the past few weeks.

    • Bitcoin’s fear and greed index has dropped to the fear level of 25.

    • The US dollar index has plummeted to $103.

    Bitcoin price has held in a tight range even as the US dollar index (DXY) has plunged to the lowest level since June. BTC/USD was trading at $16,858, where it has been in the past few days. This price is more than 70% below its all-time high of near $70,000.

    US dollar index crashes

    Bitcoin and the US dollar have had a strong inverse relationship in the past few years. In most cases, Bitcoin rises when the greenback retreats. 

    Recently, this inverse correlation has faded as Bitcoin and the US dollar have continued dropping. The US dollar index has plunged from the year-to-date high of over $115. 

    It has crashed in the past few months even after the relatively hawkish Federal Reserve. In its December meeting, the Fed decided to hike interest rates by 0.50% after hiking by 0.75% in the previous four meetings. You can read more about the Fed decision here.

    The Fed also hinted that it will continue increasing interest rates in the coming months. Recent numbers are supportive of higher rates. For example, data published last week revealed that the economy expanded by 3% in the third quarter after slumping in the previous two straight quarters. 

    Additional data revealed that inflation is falling at a relatively slower pace. On Friday, the Fed’s favourite inflation gauge showed that it dropped in November as gasoline prices eased. 

    Bitcoin price has also dropped as the fear and greed index has remained under pressure. The closely watched Bitcoin fear gauge remains below 30, meaning that investors are fearful about the state of the market.

    In my view, the most accurate fear gauge is outflows. Binance has had outflows worth over $9 billion in the past 30 days. Similarly, the leading crypto banks like Silvergate have had some of their biggest outflows on record.

    Bitcoin price prediction

    BTC/USD chart by TradingView

    So, is it safe to buy Bitcoin? The 4H chart shows that the BTC price has been in a tight range in the past few weeks. It is hovering at the 16,800 level, where it has been this month. Bitcoin’s Relative Strength Index (RSI) has moved close to the neutral point of 50.

    Therefore, despite the collapse of the US dollar index, there is a likelihood that it will soon have a bearish breakout. If this happens, the next key support level to watch will be at $15,435, the lowest level in 2022. A breakdown below that level will mean that there are still more sellers in the market.

    How to buy Bitcoin

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • Bitcoin struggles but Okcoin CEO thinks 3 catalysts will make it bullish

    Bitcoin struggles but Okcoin CEO thinks 3 catalysts will make it bullish

    • Bitcoin has steadied above $16,000

    • Okcoin CEO expects Bitcoin’s bear market to be driven by key developments

    • The cryptocurrency could come under pressure after falling below moving averages

    No Santa Claus rally for Bitcoin (BTC/USD) lovers? This is the clearest sign as the BTC price crashed below the moving averages. Despite bulls successfully defending $16,000, Bitcoin is far away from a bullish market. However, the CEO of the crypto exchange Okcoin is throwing insights on what to look at for a bullish Bitcoin movement.

    Hong Fang opines that the need for strong monetary systems would drive Bitcoin and crypto. According to the Okcoin CEO, the failures and shortcomings of the existing centralised currency systems could spur bullish markets. Already, a few countries are testing their monetary systems with Bitcoin and crypto. The notable ones in this pack are El Salvador and the Central African Republic. Will more countries join? Fang thinks so.

    The second event is the Bitcoin halving event in 2024. Fang wonders whether it is coincidental that past halving events have been associated with bullish crypto markets. In this regard, he expects the next cycle to be associated with a bullish market for Bitcoin. 

    Then there is the final and third bullish trigger – use cases. The CEO says a lot of projects continue to be created in crypto in a bear market. He expects the projects being created right now to be the next trigger of the bull cycle. 

    From Okcoin CEO’s thoughts, it is clear that he refers to the BTC’s long-term focus. However, a technical outlook paints a different picture of the short term. 

    BTC price outlook and analysis

    BTC/USD Chart by TradingView

    A technical outlook shows Bitcoin struggling after a slight descent. The moving averages are providing resistance to the BTC price. The RSI remains below the midpoint.

    Is BTC set to touch lower prices?

    Bitcoin lacks a directional movement. $16,000 is the price to watch, although the cryptocurrency has stabilised at this level. On the bullish side, $19,000 is the price ceiling. A recovery above could welcome further gains.

    Where to buy BTC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • Bitcoin is among top 10 assets per investor interest in 2022

    Bitcoin is among top 10 assets per investor interest in 2022

    • Bitcoin sits 8th on Yahoo Finance’s list of top quotes as measured by total page views in 2022.
    • According to the platform, BTC/USD has accumulated more than 157 million quote views, with Tesla topping the list.
    • Ethereum ranks 25th while the Coinbase (COIN) stock currently sits in 30th spot.

    Cryptocurrencies have remained deep within an unforgiving crypto winter for all of 2022. That’s it.

    And December is not offering much relief to traders so far, not with heavy duty contagion amid a spike in the number of crypto projects falling into distress.

    It’s thus surprising to say that interest in Bitcoin, the world’s largest cryptocurrency by market cap, soared throughout the year. But then it has.

    Bitcoin among top 10 assets per investor interest

    The price of Bitcoin fell below $16,000 after FTX’s implosion, but as CoinJournal recently reported, large investors appear to have used that as an opportunity to buy more. That is interest that has reflected throughout the year as prices nosedived from last year’s peak above $69,000.

    According to an in-house metric Yahoo Finance uses to measure investor interest across the markets, BTC has seen a laser-like focus from investors even as prices plunged to lows last seen in 2020.

    A report the company published on Thursday showed that the BTC/USD quote has so far accumulated over 157 million views in 2022. Ranked alongside other top assets, the flagship cryptocurrency falls within the top 10. Indeed, as of Thursday, bitcoin ranked 8th on the platform’s list of top 10 trending tickers.

    Looking at the list, Tesla Inc. (TSLA) stock quote ranks first with more than 398 million views, followed by the three major US indices (the Dow Jones Industrial Average, the S&P 500 and Nasdaq). Tech giant Apple Inc. (AAPL) sits 5th with more than 249 million page views while Amazon (AMZN) comes next with 199 million views so far.

    Ethereum (ETH) is 25th on the list in terms of investor interest as measured by 63.8 million page views so far. Elsewhere, Coinbase (COIN) has also been on top of investors’ list of interesting assets, with the crypto stock ranked 30th after more than 57 million quote views.

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  • Most of the Bitcoin supply is now loss-making

    Most of the Bitcoin supply is now loss-making

    Key Takeaways

    • Bitcoin was the best performing asset class between 2011 and 2021, but the year 2022 has brought nothing but pain
    • After rising 14X from its pandemic low in March 2020 to its all-time high in November 2021 of $68,739, Bitcoin has struggled amid risk-off environment
    • Pullback has been so severe that majority of the supply is in loss-making position

    What a ride it has been for Bitcoin. 

    But as we close the chapter that is 2022, the party has turned into a nightmare for most. Literally, most. Because the majority of the Bitcoin supply, which as I write this is 19.24 million bitcoins, is in a loss-making position. 

    I have written before about this trend, and as the chart above shows, we have seen greater than 50% of the supply in a loss-making position before. But after a respite, the market has again careened downward after a certain Mr Bankman-Fried was exposed. 

    But it is quite the sobering statistic when considering that in the decade between 2011 and 2021, Bitcoin was the best performing asset class in the world. Exploding from fractions of a penny to near $69,000 last year, it made a lot of people very, very rich. 

    But for anybody who bought in during the pandemic, the story is likely very different. In extending out the above graph back over the course of the decade, the ups and downs are evident.

    Macro environment unprecedented for Bitcoin

    The one thing that is glaring is that for the first time in Bitcoin’s history, it is now experiencing a bear market in the wider economy. 

    Launched in 2009, Bitcoin had, until 2022, enjoyed one of the longest and most explosive bull markets in financial history. Risk assets across the board went sky-high, with the S&P 500 printing a 7X return from its low point amid the Great Financial Crash to its level at the start of 2022. 

    “The scandals and idiosyncratic risk in the cryptocurrency space have been many this year. Nonetheless, despite the torrid happenings in the crypto industry which have undoubtedly made things a lot worse, Bitcoin has plummeted due to the wider macro environment, which has made a mockery of any thought that Bitcoin is not a high-risk asset”, said Max Coupland, director of CoinJournal, when assessing Bitcoin’s 2022 price action.

    On this note, when plotting Bitcoin’s price level against the S&P 500, all looks healthy. Only thing is, I cut the chart off at the start of 2022. 

    The below chart then does the same – plots the S&P 500 against Bitcoin. Only this time, it focuses on 2022, showing that both the stock market and Bitcoin have plunged. 

    “Bitcoin is uncorrelated” narrative killed

    Of course, the narrative that Bitcoin is uncorrelated is completely dead. Not only that, but the misguided thinking that led some to conclude that Bitcoin is an inflation hedge has been proven foolish. 

    There is no other way to put it – Bitcoin has traded like a high risk asset. 

    In fact, it has traded like such a high risk asset that not only was it the best performing asset of the decade between 2011 and 2021, when markets surged up and all these risk assets printed meteoric gains, but now that we are experiencing the flipside, it has performed worse than nearly anything. 

    It has pulled back so severely that those gains which saw it claim that best performing asset title are now not enough to prevent the fact that most of the supply is held by investors in loss making positions. 

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research.

    Research  Methodology

    • On-chain data sourced via Glassnode

    • S&P 500 and Bitcoin price data sourced via Yahoo Finance

    • Bitcoin the “best performing asset class of 2011-2021” sourced via Yahoo Finance

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  • Why are Bitcoin miners struggling so much? Core Scientific file for bankruptcy

    Why are Bitcoin miners struggling so much? Core Scientific file for bankruptcy

    Key Takeaways

    • Core Scientific was worth over $4 billion last summer, but is down 985 form all-time highs
    • Rising electricity costs are hiking costs with falling Bitcoin prices hurting revenue
    • With hash rate near all-time highs, the entire mining industry is struggling

    The crypto winter continues to take victims. The latest to succumb to Chapter 11 bankruptcy is Bitcoin miner Core Scientific.

    Bitcoin’s plummeting price has quelled revenues significantly and, while cashflow is still positive, the revenue is not enough to cover operational costs. The goal is for the company to restructure under the Chapter 11 process rather than entirely liquidate.

    Core Scientific has been struggling all year, in line with miners across the industry as they get squeezed on both ends – falling revenue in the form of Bitcoin prices and rising costs as a result of surging electricity costs across the globe.

    The stock was trading at a market cap north of $4 billion last summer, but has now fallen 98% from all-time highs, its current market cap $70 million.

    The share price did triple in short order last week when financial services company B. Riley offered to provide the company with $72 million in non-cash financing. The stock has since given up some of those gains.

    Mining industry struggling

    Across the entire industry, miners are finding it tough. Electricity costs and the Bitcoin price are the two most vital inputs for the bottom line of a bitcoin miner, and both have moved significantly against them this year.

    So too has the hash rate, with it straddling near all-time highs for a lot of the year. A higher hash rate means more computing power is demanded to verify transactions on the Bitcoin blockchain. While a higher hash rate is thus seen as a positive because it increases the security of the network – it would cost more energy and time to take over the network – it also weighs on miners’ profit margins.

    When the hash rate hit another all-time high of 250 TH/s in early October, blockchain analytics company Glassnode warned that “miners are somewhat on the cusp of acute income stress”. This latest story about Core Scientific proves that.

    Looking at miner reserves, the number of bitcoins held by the large mining pools has also been steadily decreasing this year.

    Mining stocks are a  levered bet on Bitcoin

    It’s a poignant reminder that with these mining companies’ revenue denominated in Bitcoin, they are obviously extremely volatile stocks. Unfortunately, this year has brought the perfect storm giving rise to not only falling Bitcoin prices, but rising costs in the form of electricity, meaning miners have been hit twice as hard.

    Looking at share prices, many companies have fallen further than the price of Bitcoin, which as I write this is trading at $16,800, down 64% on the year. Many mining companies are seeing losses that dwarf that in 2022.

    They’ll hope that 2023 will bring better fortunes. But for Core Scientific, the road head is murkier. Now embroiled in the Chapter 11 process, it will hope to restructure and weather the storm, but there is no getting around the fact that the market for miners is likely to remain torrid in the short to medium term, at least.

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  • Bitcoin steadies below $17K, but this analyst recommends a key indicator for a reversal

    Bitcoin steadies below $17K, but this analyst recommends a key indicator for a reversal

    • Bitcoin was steady below $17,000 on Tuesday

    • A crypto analyst suggests a crossing of price above the 200-day as a bull signal

    • Bitcoin still lacks a directional movement, and further decline is possible

    Bitcoin (BTC/USD) traded slightly below $17,000 on Tuesday, initially losing an opportunity to claim $19,000. A technical outlook shows that BTC has successfully defended $16,000 against the bears, signalling a potential reversal zone. But as the price once again stabilises, one key analyst recommends that investors wait for a key bullish signal.

    Renowned crypto trader and analyst Kaleo tells Bitcoin enthusiasts to wait for a classic technical indicator for a bull market. According to him, Bitcoin initiates a bull market each time the price crosses above the 200-day moving average. He says although his strategy is simple, it has been a signature indicator on the BTC chart in its last cycles. Kaleo tells his followers to remain patient until the key signal pops up. 

    But the analyst holds the view that Bitcoin could fall further. He sees a scenario where BTC consolidates and then declines to another low in a bear market. Kaleo says a bullish spike could occur somewhere in June 2023.

    BTC gets rejected at the 50-day MA 

    BTC/USD Chart by TradingView

    On the technical front, BTC is steadying after a correction. The price was rejected at the 50-day MA, with the cryptocurrency lacking a directional bias in a bear market. The RSI has again fallen below the midpoint, signalling the entry of bears or bull exhaustion. 

    Applying the 200-day MA on the daily chart, BTC trades way below it. It could take several months to see the price crossing above it. 

    Which way is the BTC price?

    From the technical outlook, BTC price could struggle for a while before we see a sustained bullish surge. If, indeed, BTC will become bullish when the price crosses above the 200-day MA, then we could wait longer for it to happen. Still, there is no indication that the bear market is nearing an end, although bulls remain strong at $16,000.

    Where to buy BTC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • Arguing that governments can’t shut down Bitcoin is missing the point

    Arguing that governments can’t shut down Bitcoin is missing the point

    Key Takeaways

    • Chair of the US Banking Committee has suggested a ban on all cryptocurrencies
    • Many declare that crypto is immune to government shutdowns, but this is only true directly
    • By attacking the ecosystem and the ability to access it, crypto can be curtailed significantly by lawmakers

     

    Bitcoin cannot be shut down, so the saying goes. But this misses the point.

    Firstly, let me be clear and affirm that this mantra is true, technically at least. Bitcoin exists on the Internet and hence it is immune to being shut down. Unless, of course, you somehow shut down the Internet. But for all intents and purposes, Bitcoin is decentralised and exists in the online world, a feat of technology that makes it resilient to being restrained.

    Bitcoin can’t be shut down directly, but indirectly is a different story

    But while a direct shutdown of the blockchain is impossible, governments can, at least theoretically, dent Bitcoin heavily and curtail its adoption by the masses. It might not qualify as technically shutting it down, and I am not commenting on the likelihood that this happens, but there is little doubt that if a concerted enough effort is made, an assault by lawmakers on Bitcoin could be devastating.

    We need only look at the prevalence of centralised entities in the space. While Bitcoin itself is decentralised, in order for the masses to access it, the vast majority go via centralised companies such as Binance or other exchanges. And what happens if governments go after these companies?

    These companies will be forced to abide by the laws. Sure, decentralised exchanges (DEXs) will remain, and like Bitcoin itself, are resilient to being directly shut down. But would you expect Bitcoin to achieve mainstream success and continue to grow into a legitimate financial asset if DEXs were the only option?

    Not only would institutions be reluctant to pursue this route, but they could also just be banned from holding it.

    US Banking Committee Chair suggest banning cryptocurrencies

    I write this article now in the wake of the story which emerged regarding the US Banking Committee Chair, Sherrod Brown, suggesting a ban on cryptocurrencies.

    Brown said:

    “I’ve already gone to the Treasury and the Secretary and asked for a government-wide assessment through all the various regulatory agencies. … The SEC has been particularly aggressive, and we need to move forward that way and legislatively if it comes to that.”

    It has been scoffed at in some quarters, but it’s worth paying attention to. The US is the financial capital of the world. Were the SEC to come out and ban it, this would have a seismic impact.

    Think of the chunk of the market that could be forbidden from holding Bitcoin – institutions, pension funds, public companies, etc. Or all the infrastructure that would be torn down, such as exchanges.

    On the flip side, it does remain a remote possibility. And getting back to my point earlier about how people overlook the potential for governments to shut Bitcoin down, Brown did acknowledge that “We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”

    Final Thoughts

    I’m not predicting any sort of demise for Bitcoin or crypto off the back of this. I just think that too many overlook how damaging governments can be towards the world’s biggest cryptocurrency. 

    Sure, the beauty of the blockchain is that it cannot be shut down directly. But indirectly? That is a different story. Governments carry too much power to be written off as “irrelevant” when it comes to Bitcoin.

    So far, there is nothing to think that countries such as the US will make such drastic moves to ban crypto. But after a torrid 2022 that has seen scandal after scandal rock the space, comments such as Sherrod Brown’s are not surprising. 

    In the remote possibility that these words were ever put into action, it would be foolish for investors to write it off as a benign development for crypto.

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  • Bitcoin wallets with 100+ coins hit new one-year high

    Bitcoin wallets with 100+ coins hit new one-year high

    • Bitcoin addresses with 100 or more coins hit 16,120 on 19 December 2022.
    • Each address is worth $1.67 million at current prices, increasing the number of Bitcoin millionaires to the highest level since December 2021.
    • Data also shows hodling is on the rise despite crypto winter, with 46% of BTC last active in 2+ years and 1.6 million coins last active in 1-3 months.

    Bitcoin continues to consolidate around $16,700 after weathering recent sell-off pressure. Bears remain very much in the picture, given last week’s jump to above $18,000 and then the sharp fall to current levels.

    But there’s an opportunity in the midst of all the contagion – and that is what Bitcoiners are capitalizing on.

    Addresses with 100+ coins hit 1 year high

    According to the on-chain and exchange flows monitoring platform Glassnode, sharks and whales have aggressively added to their overall holdings in the past few days.

    Indeed, as the flagship cryptocurrency’s price hovers above its notable base on Monday, on-chain alerts for BTC indicate that addresses with 100+ bitcoins now hold the most coins since last December. Per the data, large accounts with at least $1,670,000 worth of BTC as of 19 December 2022 had jumped to 16,120.

    This is a new all-time high, with the last 1-year high being 16,106 addresses recorded on 23 December 2021.

    Bitcoin addressed holding 100 or more BTC reach one year high. Source: Glassnode

     46% of Bitcoin last active 2+ years

    As large investors scoop Bitcoin on the cheap, the number of hodlers (people who buy Bitcoin and hold onto their assets long term regardless of market conditions) has also increased. As CoinJournal recently reported, whales have been busy, buying over $726 million worth of BTC despite the FTX contagion.

    The latest data on this metric shows that the amount of BTC supply last active 2+ years has 46.3%, a 22-month high. According to Glassnode, 7.5 million BTC was being HODLed (the metric also counts lost coins) as Monday 19, December 2022. The last time the measure of hodled or lost BTC was this high was in January 2021.

    Meanwhile, the number of coins last active 1-3 months is now more than 1,603,380 bitcoins. The moving average translates to a 3-month high for the number of coins that have not moved for the last 30 to 90 days.

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  • Bitcoin price recoils as hopes for a Santa rally fade

    Bitcoin price recoils as hopes for a Santa rally fade

    • Bitcoin price has moved sideways in the past few weeks.

    • The Federal Reserve sounded more hawkish than expects.

    • It has formed a rising wedge pattern.

    Bitcoin price continued recoiling on Monday as investors remained concerned about monetary policy and the crypto industry. The BTC coin was trading at $16,750, where it has been in the past few days. This price is a few points below last week’s high of $16,867.

    No Santa rally?

    The BTC/USD price has continued consolidating in the past few weeks. After staging a comeback last week, the pair suffered a pullback as investors reflected on the latest Federal Reserve interest rate decision.

    In its decision last week, the Fed decided to hike interest rates by 0.50% in its final decision of the year. It had previously increased rates by 75 basis points in the previous four monetary policy meeting. Also, the bank decided to continue with it quantitative tightening policy, as we wrote here.

    The most important change was that the Fed would continue hiking rates in the coming months. That statement helped the market to change its view about monetary policy. Before the meeting, analysts were expecting that the central bank to sound a bit dovish since inflation has started cooling.

    After the decision, American and global stocks collapsed while bond yields rose to their highest level in a few week. The US dollar index, which was recently falling, has made a strong recovery in the past few days.

    The other main reason why Bitcoin price has been recoiling is the rising outflows from most exchanges. Binance, the biggest exchange in the world, has seen its outflows rise to more than $7.5 billion in the past 7 days. In the same period, Bitfinex has seen over $335 million in outflows while Crypto.com lost over $76 million.

    Therefore, all these actions mean that the Santa rally has not happened. A Santa Rally is a situation where stocks rally before the market opens.

    Bitcoin price forecast

    BTC/USD chart by TradingView

    So, is it safe to buy Bitcoin? The BTC price has been in a tight range in the past few days. In this period, it has remained below the important resistance level at $16,867. It is also consolidating at the 25-day and 50-day moving averages. 

    At the same time, the Reltive Strength Index (RSI) has formed a bullish divergence pattern, which is a bullish sign. It has also formed a rising wedge, which is usually a bearish sign. Therefore, there is a likelihood that the coin will have a bearish breakout. If this happens, it could drop to $15,000.

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  • Crypto price predictions: Bitcoin, Cardano, Binance Coin

    Crypto price predictions: Bitcoin, Cardano, Binance Coin

    Crypto prices remained in a consolidation phase this week as concerns about FTX contagion continued. They also reacted to the latest interest rate decision by the Federal Reserve and the arrest of Sam Bankman-Fried. Here are some of the top crypto price predictions for the weekend.

    Bitcoin price prediction

    Bitcoin pulled back sharply after the latest interest rate decision by the Federal Reserve. This decline correlated with the performance of American indices like the Dow Jones and the Nasdaq 100 indices. 

    Bitcoin price dropped to a low of $16,923, which was the lowest level since December 12. It also declined below the important level at $17,395, which was the neckline of the inverted head and shoulders pattern.

    It has also pulled back below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50. Therefore, Bitcoin price will likely continue falling as contagion fears continue. 

    If this happens, the next key level to watch will be at $16,000. In the near term, however, a bullish breakout to $18,000 cannot be ruled out as the shakeup eases.

    BTC/USD chart by TradingView

    How to buy Bitcoin

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

    Binance Coin price prediction

    Binance Coin price has been in a strong bearish trend in the past few days. It collapsed to the lowest level since November this year. This decline accelerated this week as Bitcoin FUD trended in Twitter and other social media platforms like Reddit. FUD stands for Fear, Uncertainty, and Doubt.

    Concerns about Binance continued after the arrest of Sam Bankman-Fried, which we wrote about in this article. Investors are worried about the significant information that we still don’t know about Binance. For one, it is unclear how much money Binance makes and how much debt it has.

    Therefore, like Bitcoin, the BNB price will likely continue falling as sellers target the psychological level of $200.

    BNB/USD chart by TradingView

    How to buy BNB

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BNB with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy BNB with Binance today

    Cardano price prediction

    Cardano price plunged on Friday as concerns about the hawkish Fed continued. It has also fallen because of the underperformance of its DeFi and NFT ecosystem. NFT volume crashed to just $8 million in November, its lowest level in months. 

    On the daily chart, Cardano remains below all moving averages. It also crashed below the important support level at $0.300, the lowest level on December 13. The Relative Strength Index has moved to the oversold level. Cardano price will likely continue falling as sellers target the next key support at $0.2500. 

    ADA/USD chart by TradingView

    How to buy Cardano

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy ADA with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy ADA with Bitstamp today

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