what is today’s crypto market telling us?


On January 8, the Bitcoin price forecast was pretty flat as BTC continues to consolidate just below $17,000, at a price of $16,958, almost unchanged since yesterday. Similarly, Ethereum, is trading near the $1,260 trading range after failing to hold above $1,275. It displays a course of $1,263, with a slight pullback over 24 hours.

It should be noted, that according to a tweet from CoinShares head of research, James Butterfill, Bitcoin’s 30-day volatility hit a very low all-time low of 18.7putting it in the same zone as well-known stock indices like the Nasdaq and S&P 500.

Since the phase of FTX-induced market volatility in mid-November, Bitcoin trading volumes have gradually declined, reflecting this trend. According to data compiled by CoinMarketCap, trading activity has declined by more than 3% since Jan. 6.

Considering the volatile history of cryptocurrency over the past decade, this seems like a significant change and one that will affect its course if left unchanged.

Cryptos are too dependent on the “biggest fool theory” according to Alan Greenspan

In a year-end Q&A session published by Advisors Capital Management this week, former Federal Reserve Chairman Alan Greenspanshared his thoughts on cryptocurrency, former cryptocurrency platform FTX, and the US economy.

From 1987 to 2006, Greenspan chaired the Federal Reserve for a total of five terms. He served as president under the administrations of four separate U.S. presidents. In September 2016, he started working as an economic advisor at Advisors Capital Management.

The former head of the Federal Reserve was asked about the recent FTX crash and whether or not it spread. After reviewing “the information revealed so far”, Greenspan concluded that the effects of FTX would be limited to the cryptocurrency and NFT industries. Noting the importance of cryptos. He pointed out:

FTX’s collapse was not the result of lax risk management, inadequate accounting procedures, or an inherent characteristic of crypto: it was pure fraud.

Former Federal Reserve Chairman Alan Greenspan continued:

With respect to the broader cryptocurrency universe, I consider the asset class to be too reliant on the “biggest fool theory” to be a desirable investment.

The biggest fool theory explains that a buyer can buy a good above its value (knowingly or not) in the hope of reselling it later at an even higher price. He counts on the fact that he will exist much crazier than him to pay more. The biggest fool theory is particularly at work in the financial markets and in real estate, and it is often cited to explain the effects of bubbles on the markets.

The price of bitcoin

Bitcoin is currently trading at $16,958with a 24-hour trading volume of $7.6 billion. Bitcoin is at risk of falling to the $16,775 support zone after failing to close above the $17,000 double top resistance level. On the 4-hour timeframe, BTC is in an ascending channel, implying that a close above $16,775 could trigger a pullback.

Bitcoin Price Chart – Source: Tradingview

Bitcoin could fall to a level of $16,450 if it breaks below its support at $16,775 today. On the other hand, by remaining above this threshold, it could enter a buying trend.

The price of Ethereum

The current price of Ethereum is $1,263 with a 24-hour trading volume of $2.6 billion. On the 4-hour timeframe, the ETH/USD pair is facing strong resistance near the $1,276 level, which is stretched by a double-top setup.

A breakout with a break above the $1,275 level may push ETH price towards the next $1,300 resistance zone. On the other hand, if ETH stays below the $1275 threshold, then it could decline to the $1245 area.

Ethereum Price Chart – Source: Tradingview

On the downside, the price of ETH is hovering around $1,240, and a break below this level could open the door for more selling towards a price of $1,220.

Other high-profit cryptos

The global cryptocurrency market is uncertain, but a few new cryptos are making headlines. Let’s explore the possibility of taking advantage of it!

Fight Out (FGHT)

The Fight Out Platform (FGHT) works the same way as a personal sports trainer, except that the FGHT token is the reward given for exercise periods. All activities are recorded and can be used to improve the statistics of his metaverse avatar. The possibility of earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while enjoying the benefits of blockchain technology.

Despite the general lack of liquidity in the cryptocurrency market, Fight Out was successful and attracted investors. Thanks to its token sale, which started last week, it has already been raised over $2.6 million. The current sale price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT), but this will increase as the selloff progresses.

Dash 2 Trade (D2T)

Dash 2 Trade is another Ethereum-based platform that upon its launch early next year, will provide real-time analytics and social trading data. Trading signals, on-chain analytics, strategy building tools, and news feeds will be among its initial features, helping new and experienced traders follow the volatile cryptocurrency market.

The D2T token sale raised over $13.4 million and is expected to close tomorrow, providing early investors with a window of opportunity that will quickly close. On January 11, the altcoin will be listed on its first exchangewith LBANK Exchange, Changelly Pro and Bitmart confirmed as the initial trading platforms to support it.

To accommodate those who may have missed the initial investment window, the Dash 2 Trade team decided to host a 5th stage (or “overfunding round”) of the presale during which An additional 36,000,000 tokens will be sold at a price of $0.0556. to raise an additional $2,001,600.

D2T is overfunded at a price 4% higher than its previous price of $0.0533. The current fundraising total for the project is $15,421,600.

C+Load (CCHG)

C+Charge (CCHG) is a peer-to-peer payment system based on Binance Chain for electric vehicle charging stations (VE). Its aim, which should start in the second quarter of next year, is to increase access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.

The platform has already struck a deal with Perfect Solutions Turkey, which will add 20% of Turkey’s EV chargers to its network, indicating how quickly it could grow. 1 CCHG is currently sold at $0.013 and can be purchased with BNB or USDT. The presale has already raised over $99,000.

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Crypto news





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