Cryptocurrency Price Prediction: ETH, BTC, Cardano, 8th Feb 2023
The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs....
Cryptocurrency Price Prediction: ETH, BTC, Cardano, 10th Feb 2023
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The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs. In April 2021, Coinbase became the first significant cryptocurrency company to go public. The first U.S. exchange-traded fund with a focus on Bitcoin debuted in October of the same year.
The most well-known cryptocurrency, Bitcoin, had a prosperous year. The value of the digital currency has grown by about 70% since the start of 2021, pushing the total market value of cryptocurrencies past $2 trillion.
The majority of the major coins’ values have significantly increased this year, which has been great for the cryptocurrency market. Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are three other digital currencies doing well.
If the history of cryptocurrencies is any indication of the future, investors can look forward to an amazing journey.
The important Crypto predictions for 2023 are as follows:
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Bitcoin Price Prediction
The current Bitcoin price is $23,206, with a $26.9 billion 24-hour trading volume. In the last 24 hours, Bitcoin has increased by 1.13%. CoinMarketCap currently ranks first with a live market cap of $447 billion.
Bitcoin is now facing immediate resistance at the $22,750 level on the 4-hour timeframe, with closing candles below this level potentially leading to a drop in BTC price to $22,300 or $22,000.
Because technical indicators such as the RSI and MACD are in a sell zone, an increase in selling pressure could push bitcoin’s price towards $21,500.
Alternatively, the BTC/USD pair may find support at $22,750, with a close above this level leading to a move towards $23,350.
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Ethereum Price Prediction
The current price of Ethereum is $1,632, with a $8.7 billion 24-hour trading volume. Ethereum has lost 2.5% in the last 24 hours. CoinMarketCap is now ranked second, with a $199 billion live market cap.
Closed candles above $1,675 are expected to push the ETH price up to $1,725 or $1,725.
A break below $1,620, on the other hand, could expose BTC to levels as low as $1,550.
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Cardano Price Prediction
Cardano’s price has increased by 2.5% in the last 24 hours, reaching $0.398260, while the market as a whole has increased by 1.5%.
This level represents an 11% increase in the last two weeks and a 35% increase in the last 30 days, with ADA’s price aided by the launch of the Cardano-based stablecoin Djed last week.
ADA’s indicators suggest that it’s a good time for the altcoin right now, with its 30-day moving average (red) approaching its 200-day moving average (blue). If it rises above the longer term average and forms a golden cross, the coin could see further gains.
At the same time, the ADA’s relative strength index (purple) remains around 60. It appears to be in a position to continue rising, with the RSI currently rebounding after each dip.
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As previously stated, ADA has performed well in part due to the launch of the Djed (DJED) stablecoin. So far, Djed’s reserve has removed 30.5 million ADA from circulation, and this figure is expected to rise further in the coming days and weeks.
In other words, demand for ADA is increasing while supply is decreasing. As a result, the recent rallies, but it’s worth noting that DJED currently has a supply of only $2 million, implying that it has plenty of room to grow.
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