As of Wednesday, January 5, Bitcoin (BTC) has been trading in a tight range of $45,000-$52,000 since early December, with very light volume in recent days. Currently, the price of BTC is trading near the lows of that range at $46,425, up 0.30% in the last 24 hours and down 2.73% across the previous week, according to CoinMarketCap. The total market capitalization of Bitcoin stands at $877 billion, with a total market dominance of 39.3%.
Leading crypto figures give their estimates for 2022
Interestingly, prominent crypto trading analyst Michaël van de Poppe has highlighted the $48,000 zone as an important resistance level to break past. He stated: Elsewhere, the founder of cryptocurrency lender Nexo, Antoni Trenchev, is the latest industry expert to predict that Bitcoin will hit six digits this year. Trenchev stated that the $100,000 price objective for Bitcoin, which many experts predicted would be reached by the end of 2021, is still in play for 2022. Trenchev believes Bitcoin will exceed $100,000 by mid-2022 for two reasons: Indeed, the momentum has carried over from 2021, which witnessed great institutional and retail interest — as seen on Monday by former First Lady Melania Trump’s celebration of the one-year anniversary of Bitcoin. Melania Trump is launching a non-fungible token (NFT) platform on the Solana blockchain. It’s possible that her sudden post about Bitcoin is a promotional ploy to draw attention to her NFT platform.
The global crypto market
In recent days, the value of Ethereum (ETH) has fallen below the $4,000 barrier that it had managed to maintain for so long; the cryptocurrency has moved by a little more than 1% in value. Meanwhile, the total market capitalization of cryptocurrencies is $2.23 trillion, representing a 0.3% gain over the previous day. Over the past 24 hours, volume is $86.12 billion, representing a 20.39% fall from the previous day. DeFi is presently $15.23 billion, accounting for 17.69% of the total 24-hour volume in the cryptocurrency market, whereas the volume of all stable currencies is now $67.23 billion, 78.07%. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
