During the Asian session, the price of bitcoin has increased by over 4% to $20,260. The price of Ethereum, in contrast, has skyrocketed by more than 10% to trade at $1,485.
The market capitalization of all cryptocurrencies rose by nearly 5% to $976 billion early on October 26. This led to a surge in major cryptocurrencies. In contrast, the overall volume of the cryptocurrency market increased by about 69% the day before to $89.24 billion.
DeFi currently accounts for $3.66 billion in total volume, or 4% of the 24-hour volume of the whole crypto market. Currently, the cryptocurrency market’s 24-hour volume is $80.85 billion, which is 90% of the entire volume of all stablecoins.
Ethereum Price Prediction
The second-largest cryptocurrency asset, Ethereum, will see a greater fall during the recession because the cryptocurrency market is following the macro trend.
It is projected that once the markets experience the pressure of rising rates, ongoing inflation, and even recession, ETH will follow the stock market.
A crypto analyst predicts that Ethereum will never again approach or surpass $1000 per ETH, even if Bitcoin reaches $50,000 per BTC.
Bitcoin and all other altcoins are still declining from their record highs. But the majority of cryptocurrencies have dropped to below 80% or more, and their BTC ratios have drastically decreased.
Bitcoin Price Prediction
By November 1, 2022, the value of Bitcoin is anticipated to fall by -4.18% and hit $ 19,738 based on our most recent price estimate. Our technical indicators indicate that the current mood is bearish, and the Fear & Greed Index is currently at 32. (Fear). In the past 30 days, Bitcoin’s price volatility was 1.83%, with 14/30 (47%) green days. Our Bitcoin forecast indicates that this is a horrible moment to purchase Bitcoin.
Cardano Price Prediction
According to a new analysis by Santiment, Cardano is now grossly undervalued. The coin’s value is now somewhat less than it was at this time last year. Actually, the MVRV Z-Score is at -1.35, the lowest it has been in 45 months.
According to reports, the price of ADA is $0.3609 right now, which is 3.10% more expensive than it was yesterday. $403.02 million has been invested in the project during the last 24 hours, which is about $60 million more than it was during the same time yesterday.
Although the project has made some significant progress, since November 2021, holders have not seen a clear upward trend. Cardano would require a climb of 88%.