During this crypto lunch, we’ll of course look at the live Bitcoin price and the prices of the top 25 crypto. We also share tips from traders, dwell on a costly mistake, and take a look at the first Lamborghini NFTs.
Normally we start the week with the crypto price forecast. Since we are expecting a volatile week this week, a week is a little too long to look ahead. Therefore, you can also expect a current update 2x a day this week. We publish our updates around lunch time and in the evening after the close of the US market.
As usual, we start this update with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto drop
At the time of writing, the live Bitcoin price is EUR 33,178.12 ($37,022.59). This is 2.72% lower than yesterday at lunchtime, but higher than during our crypto lunch last Friday.
The prices of the top 25 crypto are also falling. With the exception of the stable coins, we only see red numbers on the digital price boards. The biggest loss is for Terra (LUNA), which loses 9.26% in 24 hours. All results and live crypto prices can of course be viewed on the Tradeincrypto.com site.
Those who think that there is nothing to earn in a down market are mistaken, according to experts. They see various opportunities for large price increases. We share these with you, of course.
Trading tips: watch out for Polkadot (DOT), Avalanche (AVAX) and Cardano (ADA)
Analysts see opportunities for Polkadot (DOT), Avalanche (AVAX) and Cardano (ADA), which we discuss below.
Polkadot (DOT) bullish in the short and long term?
In the short term, Polkadot (DOT) appears poised for a price jump. FX Street analysts show that Polkadot (DOT) is now holding steady above the support level of $15.05. In doing so, there appears to be little to no resistance up to a price of $24.18. With that, the price could rise as much as 42%. In a favourable situation, the currency could even rise to the 50-day moving average. This level lies at $ 24.86, with which a profit of 46% would be realized.
For this, it is important that the currency holds the support level of $15.05. If this should fail, the currency could fall further to probably the range of $12.93 to $10.37. In a very bad scenario a fall to $ 7.- is possible.
In the long term, there are many fundamental factors (such as a major sponsorship deal with FC Barcelona) that justify a price increase in Polka Dot (DOT), as you can see in the video analysis below.
The coin is expected to be worth at least $40-$50 by the end of the year. This is still below the Polkadot all time high of $82 but a wonderful return compared to the current Polkadot (DOT) price, which is $17.70 with a loss of 5.95% in 24 hours.
Avalanche (AVAX) and Cardano (ADA) crypto buying tips in February?
Other analysts look more at fundamental factors and user cases. For example, they tip Avalache (AVAX) as the coin to buy in February. They see that this blockchain is faster, cheaper and more scalable than current popular blockchain networks, such as Ethereum (ETH). In fact, the Ethereum Virtual Machine (EVM) is already running on the Avalanche Blockchain. Currently, the live Avalanche price is $66.26 with a loss of 5.87% in 24 hours, so there could be an interesting return there as well.
Cardano (ADA) continues to evolve
Another crypto coin that is tipped when talking about returns in February is Cardano (ADA). Again, the speed and connectivity of the blockchain is cited as an argument, although analysts say the speed of transactions also plays a major role here. In doing so, the technical indicators seem to make it clear that there is not much room for further losses and that the bulls are taking control. You can see this in the analysis below.
For now, investors are not noticing. With a loss of 4.71% in 24 hours, the current Cardano (ADA) price is $1.017. Whether this means there is a hefty return to be had or whether we should take this technical analysis with a grain of salt, time will tell.
Very expensive crypto mistake costs investor $500,000
For one crypto investor, the grapes were quite sour. He shared on Reddit how he exchanged Ethereum (ETH) for Wrapped Ethereum (WETH) via a smart contract. When he wanted to exchange them back to Ethereum (ETH) he sent them back to the contract. This turned out not to be the correct procedure. With this, he lost his holdings in Ethereum (wrapped or not). The damage: $500,000. So this is an expensive lesson that teaches us to always follow the correct procedures and check them before you make a transaction. By the way, the investor who made this mistake has since deleted his original post, but you can read it here.
Are you really going to ‘hodl for lambo’ tomorrow with the Lamborghini NFT?
‘Hodl for lambo’ is a cry that cryptotraders often utter in a bullish market. By this they mean that you should hold on to your crypto coins until you can buy a Lamborghini out of them. Those who are not yet ready for a real Lamborghini but are involved in crypto can join the bidding for a real Lamborghini NFT tomorrow.
There will be 5 NFTs up for auction. These consist of a physical component (a piece of carbon from space with the registration number of the NFT on it) and the NFT itself, a very special photo collage of a Lamborghini heading for space. Here you can read all the details and watch a video + beautiful images of the Lamborghini NFT.
Want to stay up to date with the latest stock 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 price forecast on Monday morning might be a reading tip.
Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.