Can Bitcoin and Ethereum maintain their position as leaders?

Disclaimer: The ‘Industry Talk’ section contains contributions and insights from individuals active in the crypto world and is not part of Cryptonews.com’s editorial content.

The cryptocurrency is becoming increasingly volatile as Bitcoin and Ethereum continue to rise. After the Shiba Inu’s massive rise, investors are trying to figure out how to predict the price.

Shiba Inu is up a whopping 20% ​​during the European session to $0.0000129. The price was soon after corrected to $0.000011.

Falling sales figures and falling inflation in the US – what does this mean for consumers?

In December, sales figures in the US fell the most in 2022 due to lower sales of cars and other products. Consumers had less money to spend, causing economic growth to slow.

Sales figures fell 1.1% in the US in December 2022 compared to November, when it was expected to fall 1%. The drop was also higher than the 0.8% that analysts had expected.

Retail sales have fallen for 2 months in a row, reducing demand for goods, which has hit many manufacturers. The December figures show that factory output has seen the biggest drop in 2 years, and producer prices have also fallen.

The cryptocurrency market is currently bearish and in a correction phase due to two reasons:

  • The market was oversold and buyers were tired. They were waiting for a correction in the market.
  • US sales figures came in lower than expected, leading traders to believe the Federal Reserve would not raise interest rates again. Investors have turned their focus to US stocks, causing cryptocurrency demand to fall.

Bitcoin price

The Bitcoin price is at $20,937 after a 1.5% drop in the past 24 hours and has traded a total of $29 billion. BTC has remained fairly stable following the January 17 Bitcoin Price Forecast.

Bitcoin failed to rise above $21,400 and as a result it fell below $20,000. If Bitcoin remains stuck below $21,400, it could be a bearish sign that buyers are running out and sellers are taking over.

The RSI and MACD both indicate that BTC is overbought, which is another reason for a possible correction.

Bitcoin Price Chart - Source: Tradingview
Bitcoin Price Chart – Source: Tradingview

Bitcoin’s first support is at $20,800, and if the price falls below that, it could fall further towards $20,000. If it sells even higher from then, it could drop towards $19,250. However, if demand for Bitcoin increases, it may break through $21,400 and rise to $22,850.

Ethereum price

Ethereum price is at $1,549 and has traded $10 billion in the last 24 hours and is down 1.50%. ETH ranks 2nd on CoinMarketCap with a live market cap of $189 billion.

Ethereum has struggled to break the $1,600 mark, causing its value to drop to $1,500 on higher selling pressure. Bitcoin is in a similar situation to Ethereum.

Ethereum Price Chart - Source: Tradingview
Ethereum Price Chart – Source: Tradingview

Ethereum may find support near USD 1,500, but if the price falls below this level, it may fall towards USD 1,440 and possibly USD 1,350.

Since the support is at $1,500, it is more likely that the price will move towards $1,660.

Shiba Inu course

Shiba Inu price is at $0.000012 and has traded $1.3 billion in the last hour and is up 9%. SHIB is currently ranked 13th on CoinMarketCap with a live market cap of $6 billion.

Shiba Inu Price Chart - Source: TradingView
Shiba Inu Price Chart – Source: TradingView

SHIB could potentially rise to and rise above $0.0000124, allowing it to continue moving towards $0.000014. Support for SHIB is $0.00001139.

If SHIB falls below the current support, it could fall towards $0.000010.

Get ahead of the market with these top altcoins

Investing in presale altcoins is a way to earn a lot. By following the recommendations of the best crypto, you can outshine the rest of the market with the huge potential of these crypto coins.

Meta Masters Guild (MEMAG)

The Meta Masters Guild presale has already raised more than $650,000 in a week, with $300,000 of that in the last few days. With this impressive speed, it shows that investors are very excited about the project.

Meta Masters Guild is a gaming guild for mobile games which will launch its first game in the third quarter. The platform’s MEMAG token will be used for staking and NFT purchases. The platform will develop more play-and-earn crypto games. Play-and-earn is a branch of play-to-earn that focuses on better gameplay than play-to-earn games.

You can buy the MEMAG token at a low price of only $0.01 each!

But this price will increase to $0.013 in 10 days, so you better invest as soon as possible to make the most of this presale. The presale is in phase 2 of 7 and each phase will increase the price to a total of $0.023. So don’t miss out on this deal!

Fight Out (FGHT)

Fight Out is a simple and economical way to stay healthy. With the FGHT token, you get access to personal training at a low price – ideal for anyone who wants to train without paying too much.

FGHT’s pre-sale has been a huge success and has already raised $3 million. At Fight Out, you get your own avatar that acts as a digital fitness profile and can be improved by reaching your goals.

The first phase of the presale will last for about 5 days, after this phase the price of FGHT will increase from $0.0166 to $0.0333 each. If you buy now, you are twice as cheap! Take action quickly and take advantage of this low price.

C+Charge (CCHG)

C+Charge is a new payment system for charging electric cars that rewards the driver with CO2 credits. With this, the platform hopes to accelerate the adoption of electric cars and reduce emissions.

C+Charge’s technology has the potential to completely transform the carbon credit industry, which is currently controlled by a few large players. The platform can make the sector more accessible to normal people and smaller businesses.

Analysts expect the Voluntary Credit Market (VCM) to reach $100 billion by 2023. C+Charge may take the lead here as it has already raised more than $310,000 in the CCHG token presale.

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker - Source: Cryptonews
Cryptocurrency Price Tracker – Source: Crypto news

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