Bitcoin and Ethereum prices have been on a wild ride lately, shooting up 20% in the last week alone. This surge has sparked speculation about how high the cryptocurrency markets can go.
With more people turning to cryptocurrencies to safeguard their wealth and take advantage of opportunities, understanding the potential of these markets is essential.
Could this recent rally be just the start of something bigger?
On January 15th, the market for cryptocurrencies was in positive territory. The total market capitalization was over 2 trillion dollars, which represented a 0.53% increase compared to the previous day. Significantly, trading volume declined by 16.66%, amounting to 84.28 billion dollars over 24 hours.
The amount of funds being held in Decentralized Finance (DeFi) has now risen to $12.76 billion, representing 15.14% of the total crypto market 24-hour trading activity. Similarly, the value of stablecoins is now reaching a staggering $67.57 billion, accounting for 80.17% of all crypto trades made over the past 24 hours.
One of the Largest US Institutions Teaches Bitcoin
During the first Bitcoin course, the professor said there would be another course focusing on programming Bitcoin. Students will have an exciting opportunity to build a Bitcoin library from scratch and learn how it works.
Bitcoin and cryptocurrency courses are becoming increasingly popular at U.S. colleges, including the latest to join this trend: Texas A&M University with its 74,000+ students. Classroom adoption of these courses is on the rise due to their relevance in today’s world.
On January 13, Professor Korok Ray made an announcement that a course on Bitcoin protocols will be taught to students of the College of Engineering and Mays Business School at Texas A&M. The class will kick off on the 17th of January, when the spring semester starts.
Ray said in a four-part Twitter thread that “Programming Bitcoin” will go into detail about the Bitcoin Protocol and teach students how to build their own Bitcoin library from scratch.
This will definitely help promote Bitcoin and the adoption of cryptocurrencies, increasing their demand in the future.
Bitcoin Price
Bitcoin is performing amazingly, having surged to $20,911. It has even breached the $20,500 support level. An astonishing $27 billion has been traded during the last 24 hours.
The bullish price increase has created a pathway for the uptrend to reach $21,000 or even further, with the potential of reaching its trading goal at $23,000.
Bitcoin currently has an immediate support level of $20,500-$20,000 and the RSI & MACD indicators are indicating an overbought market.
Therefore, it is essential to observe if BTC is capable of breaking through a resistance level of $21,500 since any failure to do so could result in its price going down. On the lower side, Bitcoin’s immediate support prevails at $20,000.
Ethereum Price
Ethereum‘s price reached $1,559 with a 24-hour trading volume of $14 billion. This significant rise past the $1,500 key resistance shows that ETH/USD pair is on its way to breaching the next barrier level of $1,650.
At this time, the critical support mark for Ethereum currently stands at $1,500. If it closes above this price point, we can expect to see a surge in its value. If it reaches beyond $1,650 then the price of ETH might move up to the next resistance level of $1,700.
Although there is a support level for ETH near $1,500, a bearish break of this point could cause the price to drop further to $1,400. However, at present, the trend looks positive so it could be a good opportunity to invest in this asset.
Altcoins With Major Growth Potential Right Now
With the cryptocurrency sector booming, several alternative currencies have been gaining prominence and they offer great potential gains for early investors.
FightOut (FGHT)
With the FightOut platform, you can get the same service as a personal trainer, but this time you pay with FGHT tokens. Pre-paid workout has never been simpler!
The FGHT presale has been a success, gathering over $2.90 million in investments. All activities associated with the metaverse avatar are tracked and can be used to further enhance its performance metrics.
As the sale progresses, it’s expected that the current exchange rate of 60.06 FGHT per $1 (which can be purchased using ETH or USDT) will increase in value.
C+Charge (CCHG)
C+Charge is creating blockchain-based EV payments software that will give EV drivers carbon credits every time they charge for the first time. C+Charge sees this as a means of leveling the playing field in the carbon credit market, which has previously been dominated by a few large firms.
Earning carbon credits is an extra incentive for C+Charge to accelerate the already rapid transition to EVs. Analysts predict that the voluntary credit market (VCM) will reach $100 billion by 2030, with businesses like C+Charge playing a big part in this growth. So far, the presale has raised $282,467.
Meta Masters Guild (MEMAG)
Meta Masters Guild, a mobile-focused gaming guild that will create a combination of Web3 and play-to-earn games, has begun its presale. Its Ethereum-based games will have playable NFTs as well as incentives that can be swapped for MEMAG, the company’s native token, which can then be staked and sold. It will be issued in seven stages, the first of which will deliver one MEMAG for $0.007.
This price will eventually rise to $0.023, representing a 228.5% increase for early investors even before MEMAG becomes public. Meta Masters Guild is projected to grow fast when the platform’s first game (Meta Kart Racers) is released in the second quarter of this year. Furthermore, if the world market and economy improve, the native coin may benefit greatly.
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