On January 2, 2023, Bitcoin is trading slightly higher, having bounced off the $16,500 support level, and has now reached $16,650 and is up over 0.6% in 24 hours. The price of Ethereum is quite volatile, hovering in a tight range between $1180 and $1210, so far it stands at $1201, which is just over 0.5%. A clear and upward crossing of this $1,200 level could define future trends. Ethereum (ETH) has certainly had a difficult year in 2022, but its underlying value is higher than its current market price.
The overall cryptocurrency market has given mixed signals, with a market valuation below $800 billion at the start of the new year. The two most important currencies, Bitcoin and Ethereum, are showing modest gains and continue to trade higher.
Cardano and Polkadot are up about 1.5% in 24 hours. Meanwhile, the price of XRP fell 3.3% on the day. After a very busy 2022, investors are still waiting for positive market news to expect prices to recover.
Bitcoin engineer claims to have lost over 200 bitcoins in a hack
Lead Bitcoin developer and co-founder Luke Dashjr claims that his PGP (Pretty Good Privacy) key has been compromised. As a result, almost all of his bitcoins were stolen. Luc Dashjr, one of Bitcoin’s lead developers, stated that the hack just before the New Year caused him to lose almost all of his bitcoin capital.
In a January 1 tweet, the developer claimed that suspected hackers gained access to its Pretty Good Privacy (PGP) key, a well-known security method that uses two keys to access encrypted data.
He did not name the amount of the theft: instead, he indicated the address of the wallet where part of the stolen BTC was sent. This could be another negative development for the cryptocurrency industry as it raises new concerns about the security of crypto assets.
More on buying bitcoins by Robert Kiyosaki
On the positive side, Robert Kiyosaki, a well-known author, recently revealed that he is buying more bitcoins and explained why he is doing so, arguing that the laws of the Securities and Exchange Commission (SEC) will destroy most other currencies.
Robert Kiyosaki, famous author of Rich Dad Poor Dad, said that his main motivation for investing in bitcoin is his belief that the SEC will “destroy” most other currencies with its laws. Kiyosaki revealed in a December 30 tweet that he is investing in bitcoin and is thrilled that it is recognized as a commodity like gold, silver and oil.
Kiyosaki said he is increasing his purchases of bitcoin, and the SEC classifies bitcoin as a commodity, and classifies most other cryptocurrencies as securities.
In addition, Kiyosaki warned that most of these other cryptocurrencies will be destroyed by SEC laws. As a result, this can have a noticeable impact on the price of bitcoin as well as the price of other currencies.
The current price of bitcoin is $16,650 and the trading volume for the last 24 hours is $9.5 billion. On the technical side, Bitcoin is facing important resistance at $16,660 and another resistance at $16,720. An upside break of $16,720 could see the price of Bitcoin reach the next resistance level at $16,990.
Bitcoin price chart – Source: Tradingview
The RSI and MACD indicators entered the buying zone, indicating that a pullback is possible, but the main obstacle is the 50-day moving average. As a result, a failure to break above the 50-day Simple Moving Average (SMA) could lead to selling as high as $16,500. As a result, BTC could find immediate support at $16,350 and $16,100.
The current price of Ethereum is $1201 and the 24 hour trading volume is $2.7 billion. Ethereum has found immediate support at $1,180, which is expanding with an upward trendline seen over a 4-hour period.
Ethereum price chart – Source: Tradingview
On the positive side, a sharp upside cross of the $1200 level could take ETH to the $1230 level fairly quickly. If this trend can continue, then the $1280 resistance level could emerge.
While support remains around $1,200, a break below this threshold could open up more opportunities to sell ETH to $1,150. RSI, MACD and 50-day simple moving average indicate an uptrend. Therefore, today we will have to look for opportunities to buy.
Other highly profitable cryptocurrencies
The situation in the global cryptocurrency market is uncertain, but several new cryptocurrencies are making headlines. Let’s explore the possibility of taking advantage of this!
The FightOut (FGHT) platform works just like a personal sports trainer, except that the FGHT token is a training reward. All actions are recorded and can be used to improve his metaverse avatar’s statistics. The ability to earn FGHT tokens gives people an extra incentive to stay healthy and exercise while taking advantage of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, FightOut was successful and attracted investors. Through the token sale that began last week, the company has already raised over $2.4 million. The current sale price is 60.06 FGHT per $1 (FGHT can be purchased with ETH or USDT), but will increase as the sale progresses.
Trading Dash 2 (D2T)
Dash 2 Trade is another Ethereum-based platform that, when launched early next year, will provide real-time analytics and social trading data. Trading signals, network analytics, strategy building tools, and news feeds will be some of its initial features, helping new and experienced traders keep an eye on the volatile cryptocurrency market.
The D2T token sale has raised over $11 million and is due to close in just 9 days, providing early investors with a window of opportunity that will close quickly. On January 11, the altcoin will be listed on its first exchange, with LBANK Exchange, Changelly Pro, and Bitmart confirmed as the first trading platforms to support it.
C+Charge (CCHG) is a peer-to-peer payment system based on Binance Chain for electric vehicle (EV) charging stations. Its goal, due to begin in the second quarter of next year, is to expand access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.
The platform has already struck a deal with Perfect Solutions Turkey that will add 20% of Turkish EV chargers to its network, indicating how fast it can grow. 1 CCHG is currently trading at $0.013 and can be purchased with BNB or USDT.
Find the best price to buy/sell cryptocurrency
Cryptocurrency price tracker – Source: Cryptonews