Bitcoin price predictions for Jan. 8 were mostly stable as BTC continued to hover just below $17,000. Similarly, the second-largest cryptocurrency, Ethereum, has been trading precariously near the $1,260 trading range after failing to sustain above $1,275. As of January 2008, Bitcoin’s volatility had plunged to new lows, disappointing both buyers and sellers.
According to a tweet by James Butterfill, head of research at CoinShares, Bitcoin’s 30-day volatility hit a record low of 18.7, well within the range of well-known stock indices such as the Nasdaq and S&P 500.
Since FTX’s market volatility phase in mid-November, bitcoin trading volume has been gradually declining, reflecting this trend. Trading activity has fallen by more than 3% since January 6, according to data compiled by CoinMarketCap.
Given the coin’s volatile history over the past decade, this seems like a significant change.
Cryptocurrency relies too much on ‘big idiot theory’ to be a good investment
In a year-end Q&A published this week by Advisors Capital Management, former Federal Reserve Chairman Alan Greenspan discussed his thoughts on cryptocurrencies, the defunct cryptocurrency exchange FTX, and the U.S. economy. .
Greenspan served five terms as Chairman of the Federal Reserve Board from 1987 to 2006. He has chaired under his four separate American presidential administrations. In September 2016, he started working as an economic advisor for Advisors Capital Management.
The former head of the Federal Reserve was asked about the recent FTX crash and whether it could spread. After reviewing the “information uncovered so far,” Greenspan concluded that FTX’s impact would be limited to the cryptocurrency and he NFT (non-fungible token) industries. Note the importance of cryptography. He stressed:
FTX’s bankruptcy was purely a scam, not the result of lax risk management, inadequate accounting procedures, or features inherent in cryptocurrencies.
Former Federal Reserve Chairman Alan Greenspan continued:
When it comes to the wider world of cryptocurrencies, this asset class relies too heavily on the “major theory” to be a good investment.
However, it weighs heavily on the entire cryptocurrency market, dampening the bullish momentum.
bitcoin price
Bitcoin is currently trading at $16,948 with a 24-hour trading volume of $7.6 billion. Bitcoin risks 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 and closes above $16,775 suggests that it can cause a pullback.
If Bitcoin breaks below $16,775 today, a drop to $16,450 is possible. BTC may be in a buying trend above $16,775.
ethereum price
Ethereum is currently priced at $1,265 with a 24-hour trading volume of $2.6 billion. On the 4-hour timeframe, the ETH/USD pair is facing strong resistance near $1,276 and is being stretched by a double top pattern.
A positive breakout at the $1,275 level could push ETH price to the next resistance zone at $1,300. On the other hand, the closing price of Doji and spinning coma candles below $1,275 could expose the ETH price to the $1,245 zone.
On the downside, ETH price is hovering around $1,240 and a bearish breakthrough at that level could open the door for further selling to $1,220.
An alternative coin with huge growth prospects
Despite the prolonged market bearishness in 2023, several alternative currencies are in the news.
Fight Out (FGHT)
The FightOut (FGHT) platform works similarly to a personal trainer, except that FGHT tokens are redeemed in advance for workout time. All activity is monitored and can be used to boost her avatar’s metrics in her metaverse.
The FGHT presale is progressing well and has raised approximately $2.75 million to date. The current selling price of $1 60.06 FGHT (FGHT can be purchased using ETH or USDT) is expected to increase as the sale unfolds.
Visit Fight Out Now
Dash 2 Trade (D2T)
Launching in early 2023, Dash 2 Trade will be an Ethereum-based platform that provides real-time stats and social trading data. Initial features include trading signals, on-chain stats, strategy building tools, and news feeds to help both novice and expert traders stay on top of the volatile Bitcoin market.
Dash 2 Trade raised a remarkable $14.2 million in just 4 days and 10 hours before the platform’s native D2T token was listed on Gate.io.
D2T is also available at Changelly Pro, LBANK, and BitMart.
It currently sells for $0.0556, although some analysts have criticized the $0.0556 pre-sale price as being too low given the token’s potential. Investors in D2T could see him earn more than 10 times more, say several traders, including Jacob Crypto Bury, his analyst at the famous pre-sale.
Visit Dash 2 to trade now
C+ Charge (CCHG)
C+Charge (CCHG) is a blockchain-based network that rewards charging and using electric vehicles. Its native token, CCHG, is available for purchase now. The use of electric vehicles has increased dramatically around the world in recent years.
The electric vehicle (EV) sector is emerging as a greener alternative to the existing automotive industry, which has long been in dire need of reform. Thanks to companies like Tesla and Rivian, people can now buy EVs and participate in the environmental revolution.
To demonstrate its scalability, the network has already volunteered to connect 20% of Turkey’s EV chargers. 1 CCHG is $0.013 and can be purchased with BNB or USDT. So far, the presale has raised $99,850.
Visit C+Charge Now
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