A bad start to the year for Bitcoin and Ethereum holders with sellers taking control and driving the price ever lower. Important support nears. Get your weekly crypto forecast from nickcawley1 here:
Bitcoin is testing lows last seen back in September last year after making a confirmed break below the important $45.5k area, a level that had held repeated attempts over the last few weeks. The sell-off has been prompted in part by the US central bank suggesting that it will tighten monetary conditions sooner than previously expected by hiking rates and reducing the Fed’s bloated balance sheet by selling some of their bond holdings.
The second-largest cryptocurrency is down 35% in just under two months with little in the way of support on the charts until the September 21 swing low at $2,646 comes into play. Again the chart looks heavily oversold with the CCI indicator at or just close to multi-month lows. Ethereum may slow its recent fall but it will take a lot of price rebuilding to turn the chart positive again.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TA: Bitcoin Plunges Below Key Support, Turn Sell On RalliesBitcoin declined sharply below the $45,500 support against the US Dollar. BTC could recover, but upsides might be limited above $45,000. Bitcoin gained pace below the key $45,500 support zone. The price is trading below $45,000 and the 100 hourly simple moving average. There is a crucial bearish...
Read more »
Polkadot ($DOT) Is ‘Growing Faster Than Ethereum Did at Similar Points in Its History’From the global economy slowly starting to come back to life, only for it to shut down once again in the wake of Omicron rearing its ugly head in 2021, the year has had crypto investors all over the globe on the edge of their seats. While last year did see Bitcoin ($BTC) and Ethereum […]
Read more »
'We're Making Ethereum Greener with Zero Knowledge Proof' - Daniel Puzny of zkTube | Hacker NoonIn this latest Crypto Fireside chat, we talk to Daniel Puzny CEO of zkTube, a layer 2 technology that aims to turn ETH mining green while also adding speed...
Read more »
JPMorgan Has Bearish Warning About EthereumThe days of Ethereum's dominance in the DeFi space may soon be over, according to JPMorgan
Read more »
El Salvador Prepares Regulatory Framework To Issue Controversial Bitcoin BondsWill the plan work? Soon, the Bitcoin Bonds will get the legal foundation they need. In a recent TV interview Alejandro Zelaya, El Salvador’s Finance Minister, said they will send the necessary bills to Congress. Soon. Reportedly, El Salvador will initially issue $1B worth of bonds, which will...
Read more »
Bitcoin and Ether heading $100K and $5K in 2022: Bloomberg IntelligenceBitcoin will be likely gaining “upper hand” versus stocks this year, according to Bloomberg Intelligence analyst Mike McGlone.
Read more »