Bitcoin and Ethereum prices have been skyrocketing recently, rising 20% in the last week alone.
Powered by Froala Editor
Bitcoin and Ethereum prices have been skyrocketing recently, rising 20% in the last week alone. This rise has fueled speculation about how far cryptocurrency markets can go.
Understanding the potential of these marketplaces is necessary since more people are using cryptocurrencies to secure their wealth and make the most of opportunities.
Could the latest rise be the start of something higher?
The crypto market was in a favorable state on January 15. The total market capitalization was more than $2 trillion, representing a 0.53% rise over the last day. The trading volume, which was 84.28 billion dollars over 24 hours, drastically dropped by 16.66%.
The amount of funds held in Decentralized Finance (DeFi) has already reached $12.76 billion, accounting for 15.14% of the total crypto market 24-hour trading activity. Likewise, stablecoins currently represent a whopping $67.57 billion value or 80.17% of all crypto trades done in the previous day.
Bitcoin courses are available at major US universities
The professor stated during the first Bitcoin course that there would be another course focusing on Bitcoin programming. The chance to create a Bitcoin library from scratch and discover how it operates will be intriguing for students.
U.S. colleges are offering increasingly more bitcoin and cryptocurrency courses; Texas A&M University, which has more than 74,000 students, is the latest institution to follow this trend. These courses are becoming more popular in classrooms as a result of their relevance in the modern world.
On January 13, Professor Korok Ray announced that a course on Bitcoin protocols would be provided to students at Texas A&M's College of Engineering and Mays Business School. The first day of class will be January 17th, the start of the spring semester.
Ray stated in a four-part Twitter thread that "Programming Bitcoin" will cover the Bitcoin Protocol in-depth and educate students on how to create their own Bitcoin library from the ground up.
This will undoubtedly assist in promoting Bitcoin and the use of cryptocurrencies, boosting their future demand.
After rising to $20,911, Bitcoin is performing well. It has even surpassed the $20,500 support level. During the last 24 hours, an amazing $27 billion has been traded.
The optimistic price increase has paved the way for the uptrend to reach $21,000 or even higher, with the possibility of hitting its trading target of $23,000.
The RSI and MACD indicators are showing an overbought market, and Bitcoin now has an immediate support level between $20,500 and $20,000.
As a result, it is important to determine whether BTC is capable of breaking over a resistance level of $21,500, as failing to do so could lead to its price decline. Bitcoin's immediate support is at $20,000 on the downside.
Ethereum's price went up to $1,559 with a $14 billion 24-hour trading volume. This sharp increase above the key resistance level of $1,500 indicates that the ETH/USD pair is on its way to breaking through the following barrier level of $1,650.
The $1,500 level now serves as Ethereum's key support level. Its value is likely to increase if it closes above this price level. The price of ETH might increase to the next resistance level of $1,700 if it rises above $1,650.
ETH has a support level near $1,500, but a bearish break of this level could push the price much lower, below $1,400. However, the trend right now seems to be positive, so investing in this asset could be a good decision.