Meanwhile, the US markets have closed again. We look at the live Bitcoin price and the prices of the top 25 crypto currencies. Then we look at some good news for Bitcoin, see how Anonymous is using BTC in the war against Russia, and look at the forecast for the Bitcoin price.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto currencies.
Live Bitcoin price and prices top 25 crypto currencies remain bullish
At the time of writing, the live Bitcoin price is quoting EUR 39,355.13 ($44,131.94). This is 2.54% higher than when the US markets closed yesterday.
With this, we see that the huge price increases are over and the market is moving at a calmer bullish pace. We see that same picture with the top 25 crypto coins. With a few exceptions, we also see only positive results for the past 24 hours. In addition to the stable coins, only Solana (SOL) recorded a loss, but with 0.88% that is not shocking. The biggest gain of the day is for Near (NEAR), which with + 23.27% is the only crypto coin from the top 25 that can write today’s gain in double digits. On the Tradeincrypto.com website you can analyze all live crypto prices.
Good news for Bitcoin
In addition to the developments in Russia, about which more in a moment, there was more good news for Bitcoin. In Europe, for example, it was announced that they are no longer considering a Bitcoin ban. It was even stated that there had been a misunderstanding and that a European BTC ban had never been considered.
Ryan Petersen also revealed that the company he is CEO of, Flexport, has Bitcoin on its balance sheet. The California-based company is a major player in the logistics world and announced that they have over $1.6 billion available for further growth. In response to a Twitter question about how much of that is Bitcoin, he replied that the exact percentage is not disclosed, but that it is not 0. With this, another major institutional investor is moving into Bitcoin, which is a bullish signal.
There was also good news in terms of technical analysis. It seems that many investors who suffered price losses got out before last week’s crash. This can be seen from the fact that during the crash when the war in Russia broke out, hardly any more holders were recorded at a loss by on-chain metrics. If this assumption is confirmed by time, there is a basis for a longer bull rally.
Hacker collective Anonymous at war with BTC against Russia
The famous hacker collective Anonymous is fighting for the Ukrainian cause in the war between Russia and Ukraine. In doing so, they are making clever use of Bitcoin. For example, they offer Russian soldiers over $52,000 in BTC for every tank they hand over. By waving a white flag and using the password “million,” Anonymous claims to recognize them.
Again, there is a war going on, as opposite Anonymous are the hacker collectives Ryuk and Conti, both of whom are said to be part of a hacker organization called Wizard Spider. They are world leaders in ransomware and malicious hacks. For example, according to researchers, they are behind more than 1/3 of global ransomware attacks and recently shut down power supplies in Australia.
Again, Bitcoin plays a major role. Indeed, for its actions Anonymous claims to have already stolen a total of more than $10 million from some 300 Russian targets. Due to the many ransomware-attacks in recent years, the war chest of Conti’s largest wallet alone seems to contain 65,500 BTC and that is about $2.8 billion.
Bitcoin outlook remains positive, price target above $50,000
Of course, the events surrounding the war in Ukraine could cause a change in sentiment in the crypto market at any time, but as far as we can see right now, Bitcoin’s advance and flattening of the rally provides a bullish foundation in the near term. Bitcoin’s price is now above the Ichimoku Cloud. Indeed, analysts see an ideal Ichimoku bullish breakout. This provides room for substantial growth. The next price target is therefore at $59,000, which corresponds to the 161.8% Fibonacci level. The entire analysis with charts can be viewed here.
Of course, there are always 2 sides to the coin and, of course, a price drop is also in the offing. According to the same analysis, we only need to take that into account if Bitcoin drops below $37,000, and it doesn’t look like it will for the time being.
How long the bullish scenarios will last is, of course, the question. Analysis company Fundstrat has still communicated a negative outlook for the next three months to its investors despite the positive developments in recent days. The question will therefore probably be what will happen after the $59,000 mark, although the market remains extremely volatile and thus susceptible to changes in sentiment.
Staying up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin (BTC). Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast on Monday morning might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”