Make at least 50.000$ monthly trading crypto Follow professional Trading signals for FREE. I'm going in!

Bitcoin and Ethereum Predictions: What Today's Crypto Market Stats Tell Us

4 min reading

Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

 Bitcoin volatility had declined to new lows as of January 08, upsetting both buyers and sellers.

Powered by Froala Editor

On January 8, the Bitcoin price prediction remained mainly stable as BTC consolidated slightly below $17,000. Likewise, Ethereum, the second-largest cryptocurrency, is trading in a volatile range near $1,260 after failing to stay above $1,275. Bitcoin volatility had declined to new lows as of January 08, upsetting both buyers and sellers.

James Butterfill, the head of research at CoinShares, tweeted that Bitcoin's 30-day volatility had dropped to a historic low of 18.7, placing it within the range of renowned market indices like the Nasdaq and S&P 500.

Bitcoin trade volumes have been gradually dropping since the FTX-induced market volatility stage in mid-November, indicating this trend. Trading activity has dropped by more than 3% since January 6th, according to data.

This seems to be a substantial change given the coin's erratic history over the last decade.

Crypto is too reliant on the 'Greater Fool Theory' to be a viable investment

Alan Greenspan, a former chairman of the Federal Reserve, spoke about cryptocurrency, the failed cryptocurrency exchange FTX, and the US economy in a year-end Q&A that Advisors Capital Management published this week.

Greenspan served as chairman of the Federal Reserve for a total of five terms, from 1987 to 2006. He served as the position chairman during the administrations of four distinct American presidents. He started working as the Economic Advisor at Advisors Capital Management in September 2016.

The former Federal Reserve head was asked about the latest FTX collapse and whether it could spread. The impacts of FTX would only impact the cryptocurrency and NFT (non-fungible token) industries, according to Greenspan after evaluating "the information that has come to light so far." He emphasized the significance of cryptos:

However, it is impacting the wider cryptocurrency market, slowing the bullish momentum.

Bitcoin Price

Bitcoin is currently trading at $16,948, with a $7.6 billion 24-hour trading volume. Bitcoin is at risk of sliding under the $16,775 support level after failing to close above the $17,000 double-top resistance level. BTC is in an ascending channel on the 4-hour time frame, indicating that closing over $16,775 could cause a retreat.

If it drops below today's $16,775 level, bitcoin could drop as low as $16,450. Bitcoin may start to trend upwards above $16,775.

Ethereum Price

Ethereum currently trades at $1,265 with a $2.6 billion 24-hour trading volume. The ETH/USD pair is encountering significant resistance on the 4-hour timeframe close to the $1,276 level, which is extended by a double top pattern.

An optimistic breakout of the $1,275 level can drive the ETH price to the next resistance zone of $1,300. However, the closing of Doji and spinning top candles below $1,275 may expose the ETH price to the $1,245 zone.

The price of ETH is currently trading at about $1,240, and a bearish breakthrough of that level might lead to further selling down to $1,220.

ALSO READ- Bitcoin and Ethereum Predictions: BTC to retake $17,000 and ETH to reach $1,300

Currency Exchange rate Buy cryptocurrency

TradingSignals News
Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the ( Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is c/o Fintech Labs Global Solutions, Unit 303, Ile Du Port, Mahe, Seychelles

The full document to read the TradingSignals privacy policy is available in this document.

Advanced settings can be changed in your browser.