• Dogecoin surged 8% after Elon Musk’s announcement on Twitter. • Bitcoin dropped below $23,000 as most altcoins also ended the day in the red. • January 2023 is en route to becoming Bitcoin’s best-performing month in over a year, with a 40% rise in value. Dogecoin has been all the rage in the cryptocurrency […]
Bitcoin Surges Past $23K, Bankless Report Suggests Rally Has Legs
• Bitcoin has surged past $23K, leading to concerns over its sustainability. • A Bankless report suggests that the rally could have legs due to large institutional investments. • The report also points out that the rise in demand for Bitcoin has been driven by the weakening US dollar and the increasing inflation. Bitcoin has […]
Ethereum Breaks $1,600, Short-Term Pullback Likely: Analysis
• Ethereum’s price has broken past the $1,600 resistance level, with signs suggesting a short-term correction is likely. • On the daily timeframe, RSI is in overbought conditions which suggests a pullback is imminent. • The first potential turning point for the pullback could be the 200-day moving average around the $1400 mark, with the […]