Bitcoin prices increased by 4%, reaching $20,260 in Asia. The price of Ethereum has increased by more than 10% to reach $1,485. On November 1st, the total market capitalization of all cryptocurrencies increased by around 5% to $976 billion. Major cryptocurrencies climbed. The number of transactions on cryptocurrency exchanges increased by 69% to $89.24 billion the day before.
With a volume of $3.66 billion over the course of 24 hours, DeFi accounts for 4% of the cryptocurrency market. The 24-hour volume of the cryptocurrency market is $80.85 billion, which is 90% of the volume of stablecoins.
Ethereum Price Prediction
During the period of economic contraction, the value of Ethereum, the second-largest cryptocurrency asset, will continue to decrease due to the macro tendency. When interest rates, inflation, and recession all rise, ETH will move in the same direction as the stock market.
A cryptocurrency analyst believes that the price of Ethereum would never exceed $1,000 per ETH, even if Bitcoin reaches $50,000 per BTC.
Bitcoin and other cryptocurrency prices are continuing their downward trend. The BTC ratios of the majority of cryptocurrencies, on the other hand, have dropped below 80%.
Bitcoin Price Prediction
According to our most recent price projection, the value of one Bitcoin is projected to reach $ 19,738 on November 3, 2022, representing a decline of -4.18% from its current level. Bearish sentiment seems to prevail at the moment, according to our technical indicators, and the Fear & Greed Index is currently sitting at 32. (Fear). The price volatility of Bitcoin over the previous 30 days was 1.83%, with 14/30 (47%) of those days being positive. According to our Bitcoin price forecast, this is an extremely unfavourable time to make a purchase.
Cardano Price Prediction
A recent analysis that was carried out by Santiment and its authors came to the conclusion that Cardano is now being grossly undervalued in the market. The value of the coin has dropped significantly since this time last year, when it was nearly at the same level as it is now. In point of fact, the MVRV Z-score has dropped to its lowest position in the past 45 months, where it now sits at -1.35.
According to recent market data, the cost of one ADA token is currently $0.3609, representing a 3.10% increase in comparison to its price one day ago. This entails a rise in cost. The amount of money that has been placed in the project over the course of the last day and a half is $403.02 million, which is over $60 million more than what was invested in the project at the same time the day before.
In spite of the fact that the project has made a number of significant strides forward since November 2021, holders have not noticed a discernable upward trend in the time period since that point. The cost of cardano would need a price rise of 88 percent.