Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It is decentralized, meaning it operates on a peer-to-peer network without the need for intermediaries like banks.
The most well-known cryptocurrency is Bitcoin, which was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto.
One of the key features of cryptocurrencies is their potential for anonymity and pseudonymity. While transactions are recorded on the blockchain, the identities of the users involved are often masked or represented by cryptographic addresses.
Besides Bitcoin, numerous other cryptocurrencies have emerged over the years, each with its own features and objectives. Some popular ones include Ethereum, Ripple, Litecoin, and Bitcoin Cash. These cryptocurrencies serve various purposes, such as facilitating smart contracts, enabling faster transactions, or focusing on privacy.
Cryptocurrencies have gained significant attention due to their potential as an alternative form of money and investment. They offer benefits like borderless transactions, reduced fees, and the potential for substantial returns on investments.
However, they also come with risks, including price volatility, regulatory uncertainties, and security vulnerabilities.
Overall, cryptocurrencies represent a fascinating intersection of technology, finance, and cryptography, with the potential to revolutionize the way we transact and store value.
However, it’s important to approach the cryptocurrency market with caution and do thorough research before engaging in any transactions or investments.
The important Crypto predictions for 2023 are as follows:
Bitcoin Price Prediction
The price of Bitcoin (BTC) has dropped over 3% in the last day, despite a 99% increase in 24-hour trading volume. However, the odds are stacked against the downside, with momentum indications indicating that purchasing pressure is dwindling.
Furthermore, the 50-day Moving Average (MA) is almost touching the 200-day MA, indicating a death cross over Bitcoin price. A death cross pattern happens when an asset’s short-term moving average falls below its long-term moving average.
With the above, Bitcoin’s price might decrease to $24,500. This level is significant since it represents the June 2023 lows and the previous lowest high.
As a result, a strong break below it might extend the downturn, potentially pushing BTC back to the $23,600 region, which was last tested on May 13.
In the worst-case scenario, the downturn might extend to $21,300, levels last touched in March. Such a move would represent a 15% drop from current levels.
If, on the other side, the $24,500 support level holds, Bitcoin price may be able to rebound. Increased buying pressure over this level could alter the Bitcoin narrative, driving BTC north to reclaim the $25,586 support level.
In a highly optimistic scenario, the king of crypto might shatter the resistance confluence between the 50- and 200-MA at roughly $27,616 before attempting to break beyond the $28,838 barrier.
Ethereum Price Prediction
At press time, the price of Ethereum (ETH) is $1,575 and is expected to fall 10% to $1,407 if Bitcoin reaches $24,500.
A recovery in Bitcoin price, on the other hand, would cause Ethereum price to correct north, possibly converting the $1,575 resistance level back to a support floor before busting past $1,800 to strike the psychological $2,000 mark.
Cardano Price Prediction
Bitcoin, the market’s biggest cryptocurrency, recently rebounded from its important $25,000 support level, instilling hope across the cryptocurrency ecosystem.
Cardano coin price has risen 5% in the last two days, making it one of the altcoins riding this wave of enthusiasm. Is this bullish trend strong enough to inspire hope for a longer-term recovery?
The ADA price will extend a sideways trendline between a downward trendline and $0.24. According to the technical chart, crypto buyers may find solid support at $0.24 and $0.2. The Cardani coin’s intraday trading volume is $111 million, representing a 13% loss.
The ADA price is currently on a relief rally, boosted by increased demand pressure near the $0.24 support level. If the purchasing enthusiasm continues, the altcoin might gain another 3% this week, aiming for a key resistance that has restricted its gains for nearly two months.
Achieving this feat may reposition the resistance as a newfound support, perhaps propelling the ADA price up by 12.3% to $0.28, followed by $0.3.
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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 13th Sept 2023
Cryptocurrency is a digital or virtual form of currency that uses cryptography...