how high will they climb this weekend?

Bitcoin (BTC), the world’s largest and most popular cryptocurrency, continues its strong winning streak and It hit its highest level since mid-September, jumping 8% from yesterday to $22,700. Meanwhile, the second largest cryptocurrency, Ethereum (ETH), is also seeing significant growth. On January 21, it increased by 6.6% and reached 1652 dollarshas reached its peak in the last four months.

Despite the news, Genesis Global Holdco LLC is the company that owns the cryptocurrency lender Genesis Global Capitalthere is Filed for Chapter 11 bankruptcy, the cryptocurrency market continues to grow. This may be because investors have overestimated the impending problems of this company.

It should be recalled that Genesis was affected by the failures of the FTX cryptocurrency exchange and more recently, the Three Arrows Capital crypto hedge fund, both of which occurred at the end of June.

State of the global cryptocurrency market

the global cryptocurrency market there is extended the uptrend and once again passed the bar 1 trillion dollars. However, the recent rise can be attributed to institutional investors, who have long held the largest share of digital assets.

This increased demand, especially for Bitcoin, of course increases the price of the currency, but also pulls the entire market up.

It is another factor supporting the cryptocurrency market The likelihood that the Federal Open Market Committee (FOMC) will raise interest rates by only 25 basis points has increased (0.25 percentage point) was seen at its next meeting in February, after a 50 basis point increase in December.

The Federal Open Market Committee (FOMC) is now expected to raise rates by just 25 basis points (0.25 percentage points) at its next meeting in February, according to CME tool FedWatch. This is considered an important factor that boosts the cryptocurrency market and contributes to the increase in Bitcoin prices.

Genesis is going bankrupt

Cryptocurrency loan company, Genesis filed for bankruptcy protection on Thursday (Chapter 11) In the United States, owes its creditors at least $3.4 billion after the exchange sank in a market crash with FTX and lender BlockFi.

Genesis Global Capital, a leading crypto lender, suspended client payments on November 16th, shortly after the failure of regulated exchange FTX. This sent negative ripples through the cryptocurrency market, raising fears that more companies would follow suit.

This is new had little effect on the market cryptos in recent days because is met with great interest by investors.

COVID-19 in China

An increase in the number of cases of COVID-19 in China, which has raised questions about its short-term economic prospects, is also seen as a factor affecting the bitcoin market. Thus, it is a crucial element that prevents the value of Bitcoin and other currencies from increasing further.

Bitcoin growth increases miners’ profit margins

The BTC mining activities have been greatly aided by the steady rise of Bitcoinincluding the peak of BTC prices today.

Bitcoin miners with a positive net balance at the end of 2022 are helped by the increase in the price of the cryptocurrency and the hashrate of the network, which increases the stability and supply of the business. Great prospects for these companies in 2023.

Accordingly, it is considered different A positive factor demonstrating the rise of BTC.

Bitcoin price

Bitcoin price is displayed today $22,700 and had a 24-hour trading volume of $29 million. Currently, the market capitalization of BTC is 435 billion dollars.

Bitcoin now remains just below the $23,000 resistance level. On the daily time frame, Bitcoin has formed a candle covering an uptrend, which indicates that there is significant chance for the price to continue its uptrend. one A break above the $23,000 level could open the door for a quick rally to $25,150.

Bitcoin Price Chart – Source: Tradingview

On the downside, Bitcoin’s immediate support is $21,500, and a move below that level could expose it to $20,000.

The price of Ethereum

Ethereum price today 1652 dollars and has a 24-hour trading volume of $8.8 billion. Experienced currency a an increase of about 7% in the last 24 hourss and is currently valued at a total market value of $201 billion.

On January 21, the ETH/USD pair faces strong resistance near the $1,680 level. Closing candles below this level supports the chance of a bearish correctionespecially due to the doji candle where ETH closed below the $1,680 resistance.

Ethereum Price Chart – Source: Tradingview

On the downside, ETH/USD may find support near $1,610. If ETH can close candles above this level, however, we can expect a rise above this level.

So let’s focus on the $1,610 coursebecause by concluding above we could have the potential to make profitable purchases quickly.

3 cryptos to watch before the sale

Investing in cryptocurrency can be beneficial for investors, who will be able to collect tokens before the official release. Some of the cryptocurrencies that are making headlines these days.

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 adding 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 It has collected more than 3 million dollars. Current sale price 60.06 FGHT for 1 dollar (FGHT can be bought with ETH or USDT) for another 5 days and 20 hours before increasing as sales progress.

C+Charge (CCHG)

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.

According to forecasters, the project has the potential to benefit from the expected significant development of the carbon credit market. Coherent Market Insights believes so the market will exceed $2.4 trillion by 2027About $211.5 billion in 2019.

The ability to obtain carbon credits for C+Charge is an additional incentive to accelerate the already rapid transition to electric vehicles. The voluntary credit market (VCM) is expected to reach $100 billion by 2030, and analysts believe startups like C+Charge will play a major role in that expansion. Till now, the presale has raised $335,000 so far.

Meta Masters Guild (MEMAG)

The presale for the Meta Masters Guild starts today, a mobile oriented gaming guild This will create a mix of Web3 games and win-win games. Its Ethereum-based games include playable NFTs and redeemable incentives MEMAG, the company’s native token, can then be staked and sold. He will be available in seven stepsthe first to offer now MEMAG for $0.007.

Even before MEMAG’s IPO, this price will gradually increase to $0.023, a 228.5% increase for early investors. Meta Masters Guild is expected to grow rapidly when the platform’s first game (Meta Kart Racers) is released in the second quarter of this year.

Don’t miss this opportunity: Phase 2 of the sale has started and MEMAG has raised $553,390 of the total of $1,120,000.

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Crypto news

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