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

Bitcoin and Ethereum Price Prediction | What to Watch For After This Week's 20% Gains

3 min reading

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

Bitcoin and Ethereum Price Prediction | What to Watch For After This Week's 20% Gains

Powered by Froala Editor

Despite a modest drop in the worldwide market cap of cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) remain robust at over $21,000 and $1,500, respectively. This has allowed them to keep their excellent momentum going.

Bitcoin appears to be establishing firm support near $21,000 and may shortly surpass its current $23,000 resistance. The crypto winter may be coming to an end, as the market shows symptoms of a developing bull run.

Source - Twitter

The cryptocurrency market has increased by 1% in the last day, and it is now worth $1.02 trillion. This is owing to positive macroeconomic indications such as improved US inflation numbers and projections that the global recession will finish in 2022.

Source - Twitter

The upward trend in Bitcoin values, on the other hand, can be attributed to a number of positive macroeconomic factors. These include new monetary policies, whales purchasing BTC, rising Bitcoin mining difficulty, and the 'halving' in 2024.

Halving in Year 2024

Another issue that is expected to excite cryptocurrency traders is the "halving" of Bitcoin. Some investors believe that halving, or reducing bitcoin payouts to miners by half, will raise the price of bitcoin by limiting supply.

Source - Twitter The halving, however, is scheduled to take place between March and May of 2024.

Bitcoin Price

The current Bitcoin price is at $21,200 mark, with a $23 billion 24-hour trading volume. Bitcoin is up 0.15% in the previous 24 hours and more than 20% in the last seven days.

Bitcoin was unable to break above $21,400 on January 17th and appeared to be rejected. When the daily candles closed below this level (particularly a doji candle), it could be an indication of a bearish correction, with both the RSI and the MACD entering an overbought state.

Source - CoinMarketCap

Ethereum Price

Ethereum, the second-largest cryptocurrency, has seen an 18% spike in value over the last week and is now trading at $1,500 mark.

Ethereum's value has recently increased, with its primary support level near $1,500. If this level is successfully maintained, the price could rise to $1,660, the next resistance level.

Source - CoinMarketCapALSO READ - BTC Network's Mining Difficulty Rises to All-Time High

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.