Weakening US wage growth leads to upside moves
Bitcoin price forecast turned bullish on January 9th, BTC rose about 1.70% to $17,245. Similarly, there is Ethereum, the second largest cryptocurrency rose nearly 4% to $1,317 in the Monday morning session.
Marathon Digital Holdings, one of the largest Bitcoin mining companies in North America, revealed that he was experimenting with overclocking Improve strategic advantage in BTC mining sector.
Overclocking is a technique for increasing the clock speed of a computer’s CPU or GPU beyond the manufacturer’s recommended maximum speed. This can lead to improved performance in some tasks.
In a January 5th press release, Marathon claimed to have produced 475 BTC in December 2022. The total amount of bitcoin mined for fiscal year 2022 is 4,144 BTC. It represents 30% increase Compared to 3,197 BTC produced in 2021.
According to its latest data, the company currently has more than 69,000 active miners capable of producing 7 exahashes per second. Marathon Digital’s success in the Bitcoin market is largely due to its partnership with Silvergate Bank, a provider of banking and liquidity solutions for the digital currency market. This is also good news for the price of BTC in the medium term and could create excitement among new traders and investors.
Weaker US Wage Growth Triggers Bullish Moves
The economy added more jobs in December than experts had predicted, according to government data released on January 6. On the other hand, workers’ earnings grew at a slower rate. The pace of wage growth slowed in December compared to the previous month, suggesting the Federal Reserve’s inflation-fighting initiative by raising interest rates is cooling the economy.
The nation added 223,000 jobs in December, up from 256,000 the previous month, according to the Labor Department. The unemployment rate fell from 3.6% to 3.5% after downward revision. Wall Street analysts had predicted the world’s largest economy would add 200,000 jobs last month and the unemployment rate would remain at 3.7%.
Also, adjusted for the time of year, workers’ average hourly earnings rose 4.6% from the previous month. After being reinforced by the promotion of employment statistics in the United States, The main cryptocurrency in the market is currently on the rise. Although the BTC/USD pair is trading below its previous highs, the cryptocurrency has regained significant value.
The consumer price index will be released soon
Consumer Price Index (CPI) in the United States.will be the main indicator of inflation Posted on Thursday, January 12th. By 2022, the cryptocurrency market experienced a significant decline in value. The sector benefited from the Fed’s monetary tightening, which reversed two years of ultra-accommodative policies. If there are signs that price pressures are easing, the Fed may have more motivation to ease its aggressive stance.
The market welcomes the prospect of slower rate hikes. Given that December’s CPI and inflation figures are about to be released, BTC/USD’s price action is likely to be influenced by such macro news.
Bitcoin is currently trading $17,245, With a 24-hour trading volume of $14 billion. The close of the doji candle close to $17,200 suggests that the sellers could possibly trigger a downward correction. However, A break above support at £17,200 could take BTC to $17,400.
Bitcoin has formed a bullish candle over a 4-hour period, indicating that the market is trading. strong upward trend. As a result, Bitcoin is even there It can reach $17,750.
The $17,000 level is still likely to act as immediate support, and its breakdown could open a downtrend towards the next $16,800 or $16,650 support levels.
The price of Ethereum
Current price of Ethereum 1317 dollarsdemonstrative a 4% increase in 24 hours and transaction volume of 5.8 billion. In the 4-hour period, the ETH/USD pair faces strong resistance near the $1,320 level, which is stretched by a double-top setup.
This is a positive break above the $1,320 level ETH may push the price towards the next resistance zone of $1340 or even $1370. A bullish candle close above the psychological trading level of $1,300 supports a bullish chance. a strong uptrend that could continuewill be seen as a sign of cryptocurrency relaunch.
On the downside, ETH price may find support near $1,275 and a break below this level could open the door for further selling above $1,260. However, the bullish bias remains dominant today consider looking for opportunities to buy ETH today.
Other high yield cryptocurrencies
The global cryptocurrency market is uncertain, but several new cryptocurrencies are making headlines. Let’s explore the opportunity to take advantage of it!
Fight Out (FGHT)
It works in the same way as the Fight Out Platform (FGHT). personal sports trainer, except that the FGHT badge is an award for training periods. All activities are recorded and can be used to improve the stats of his metaverse avatar. opportunity Earn FGHT tokens It adds an extra incentive for people to stay healthy and exercise while taking advantage of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, Fight Out was successful and attracted investors. Thanks to the token sale that started last week, it already is Raised more than 2.75 million dollars. Current sale price 60.06 FGHT for 1 dollar (FGHT can be purchased with ETH or USDT), but this will increase as the sale progresses.
Dash 2 Trade (D2T)
Launched in early 2023, Dash 2 Trade, a An Ethereum-based platform that will provide real-time statistics and social trading data. Initial features will include trading signals, on-chain statistics, strategy building tools, and news feeds, allowing both novice and experienced traders to stay abreast of the volatile bitcoin market.
D2T will also be available on Changelly Pro, LBANK and BitMart. Dash 2 Trade has now raised a remarkable $14.2 millionis just four days and ten hours away from listing the platform’s native D2T token on Gate.io, the first in a planned series of centralized cryptocurrency exchange listings.
C+Charge (CCHG) a Binance Chain-based peer-to-peer payment system for electric vehicle charging stations (VE). Due to launch in the second quarter of next year, it aims to increase access to carbon credits by rewarding consumers who charge their electric vehicles at their terminals.
The platform has already signed a deal with Perfect Solutions Turkey to add 20% of Turkey’s EV chargers to its network, which shows how quickly it can grow. 1 CCHG is currently trading at $0.013 and can be purchased with BNB or USDT. The pre-sale has already raised over $99,000.