Of course, we also take a look at the live Bitcoin price and the prices of the top 25 crypto today at lunchtime. Then we look at why prices are rising rapidly this morning. We also look at three tips on bullish crypto and a Ripple (XRP) update.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price rises, top 25 crypto also mostly positive
At the time of writing, the live Bitcoin price is quoting EUR 38,764.08 ($42,901.99). This is 3.76% higher than during our crypto lunch yesterday.
The current prices of the top 25 crypto are also mostly positive. There are some losers to note. In the past 24 hours, Terra (LUNA) lost the most with -2.25%. However, most crypto in the top 25 record a gain. Biggest winner in the past 24 hours is Bitcoin Cash (BCH) with + 12.05%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Here’s why crypto prices are rising fast this morning
We predicted last night that it would be an exciting week for Bitcoin and crypto. As it turns out, the market is getting caught up in a bet between Terra’s founder, Do Kwan and two well-known traders, Algod.ust and GCR. They are betting that the price of Terra (LUNA) will be lower on May 14, 2023 than it was on March 14 of this year. The bet is on 2x $10 million, so that’s a big bet.
Twitter won’t load because you didn’t give permission.
Sure, fund @cobie ‘s wallet and I will match
– Do Kwon (@stablekwon) March 14, 2022
The trigger for the bet, however, is the trigger for the crypto market to move. This is because the bet was made in response to Terra (LUNA) announcing that it will be purchasing over $10 billion worth of Bitcoin (BTC). This huge demand is obviously causing prices to rise. Now that the first $125 million has been transferred, the market is starting to believe this claim and is moving.
We see large amounts of Bitcoin being purchased and with that, the rest of the market starts to move as well. This snowball is amplified because this purchase also increases confidence in Terra (LUNA). If the market moves as analysts expect, a candle stick above $43,300 will be formed, confirming the bull trend and allowing the value of BTC to rise further towards $54,381 and the $60,000 we saw earlier, but crypto remains crypto.
Therefore, we should also take into account a bearish scenario. According to analysts, this only comes into play when a candle stick below $ 35,000,- is formed, but then things can also go fast and the BTC even threatens to dive below $ 30,000,-. However, this scenario currently seems less realistic.
These 3 crypto are tipped as bullish
Meanwhile, we see that the price increases are also showing bullish effect on the technical analyses of several crypto. For example, we see that Avalanche (AVAX) has rapidly turned resistance levels at $78.96 and $86.49 into strong support levels. This leaves the way open for further price appreciation. Analysts are even taking into account a 40% price increase to $125.
This could provide a nice return, because despite 3.23% loss in the past 224 hours, the Avalanche (AVAX) price remains at $88.77 above the support levels we just discussed. In the analysis below, we see that the outlook for the other so-called layer1 tokens Solana (SOL) and Terra (LUNA) are also bullish.
Should crypto investors remain uncertain any longer? SEC doesn’t seem to mind
We have often covered the lawsuit between Ripple (XRP) and US financial regulator SEC. This is being followed by many influencers, analysts and crypto investors because the outcome of this lawsuit may provide clarity on when a crypto can be considered security.
One would expect the SEC as a regulator to do everything possible to clarify the matter as soon as possible. However, this does not seem to be the case. The SEC has requested postponement of the next phase in the litigation that has already lasted for more than a year. The Financial Authority has also objected to the selection of a jury. It is felt that the trial, which should be ready in May, is too premature.
As Ripple (XRP) seems to be getting stronger and stronger cards, many crypto insiders don’t like the SEC’s strategy. Consequently, accusations of delaying tactics are increasing.
This development will undoubtedly be continued and then we will of course report on it. We also follow Bitcoin, the latest developments regarding the largest crypto you can of course read again tonight in our Bitcoin update.
Want to stay informed about 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. 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 Monday morning price forecast 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.”