In our crypto update, we naturally look at the live Bitcoin price and the prices of the top 25 crypto. In addition, we look at weekly and monthly results. Then we offer updates on Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and the expectation of the CEO of crypto exchange Huobi.
We continue to see that the crypto market is currently dominated by highly volatile fundamental factors. The threat of war around Ukraine and inflation continue to control the markets. Therefore, a weekly outlook is not accurate enough. Until the situation changes we will keep you informed with our crypto and Bitcoin updates.
You can expect our crypto updates, with the exception of today, around lunchtime. We share the Bitcoin update every day after the US markets close or, as today, the time when the markets should close (after 11pm). In fact, due to the celebration of President’s Day, the US financial markets are closed today.
That being said, we’re going to get started quickly with our crypto update, starting of course with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price recovers, prices top 25 crypto also positive again
At the time of writing, the live Bitcoin price is quoting EUR 34,283.88 ($388,971.42). This is 1.48% higher than yesterday around the same time, but lower than during our crypto lunch last Friday.
The prices of the top 25 crypto also seem to be recovering. Currently, with a few exceptions besides the stable coins, we see only positive results. When we see that Ripple (XRP) is the biggest loser with -0.54% there seems little reason for concern for the moment. The biggest gain in the past 24 hours is for Terra (LUNA), which is up 6.72%.
Weekly and monthly Bitcoin and crypto results in a minor way
With this recovery, we see that Bitcoin and top 25 crypto are trying to bounce back after the price declines we saw happen and analyzed last week starting on Thursday. This correction obviously leaves its mark when we analyze the weekly and monthly results of Bitcoin and crypto. Bitcoin’s weekly result was -6.96%, but over 30 days the result is still more than positive at +7.67%.
There were crypto currencies that recorded a positive weekly result despite the correction. With a plus of 4.81%, Avalanche (AVAX) recorded a positive week. This brings the 30-day result for this crypto currency to +24.44%. However, this was not good enough to be the best performing coin from the top 25 crypto over 30 days. This honor namely belongs to Ripple (XRP), which is up 25.69%.
The biggest loss of the week was for Cronos (CRO), which lost 17.02%, but nevertheless put a gain of 15.39% over 30 days on the board. The biggest loss over the past 30 days was -25.52%, giving investors in Near Protocol (NEAR) a financial hit. Of course, you can analyze all results and live crypto prices 24 hours a day on the Tradeincrypto.com website.
Huobi CEO Du Jun warns of cryptowinter
In an interview with CNBC, Huobi CEO Du Jun shed his light on the crypto market. Based on historical analysis and studying market cycles, he thinks we’re going to see another cryptowinter first. He does not see a major (record) bull run until 2024 (the year of the next Bitcoin halving) or 2025. You can watch the entire interview here.
Of course, this does not mean that the market will sit still until then or that there are no returns to be made. In fact, Huobi is also trying to gain market share in the Netherlands by offering various trading opportunities and attractive welcome bonuses. Our colleagues at Tradeincrypto.com will be happy to introduce you to Huobi Exchange.
Movement at Ethereum, Buterin before cryptowinter
This morning, an Ethereum (ETH) transaction caused a stir. From a wallet that had been inactive since 2015, a sum of 1,024 Ethereum (ETH) was transferred. This roughly halved the balance of ETH in the account. The ETH in the wallet were worth a total of just under $5.2 million before the split. For those who doubt that crypto brings returns; the purchase value of the 1,947 ETH in 2015 was $2,336. The transaction went from unknown wallet to unknown wallet, so the exact reason is not clear.
Of course, it could involve the distribution after a good marriage, but it could also be that some of the contents of the wallet were sold via an over-the-counter transaction.
Twitter won’t load because you didn’t give permission.
A dormant address containing 1,947 #ETH (5,160,223 USD) has just been activated after 6.5 years (worth 2,336 USD in 2015)!https://t.co/qwdzGvLBFD
– Whale Alert (@whale_alert) February 20, 2022
Ethereum (ETH) founder Vitalik Buterin positive about cryptowinter
Meanwhile, more and more insiders seem to be adjusting their expectations. Where they first thought of record markets, they now seriously take into account a cryptowinter. Besides Huobi CEO Du Jun, Vitalik Buterin also appears to be looking for his crypto gloves. In an interview with Bloomberg, Buterin says that, as far as he is concerned, a new cryptowinter need not be bad for crypto developments.
He sees that there are too many wild speculators now. In a cryptowinter he expects the cold to freeze the wheat from the chaff, after which the serious players and innovators will emerge stronger. You can read the entire Bloomberg Interview with Buterin here. By the way, this cold announcement from Buterin may not depress investors. At a live Ethereum (ETH) price of $2,724.04, this crypto posted a 3.54% increase in 24 hours.
Ripple (XRP) breakout under 1 condition
Ripple (XRP) is currently the only crypto currency besides the stable coins that is making a loss. Nevertheless, we see in technical analysis that there is room for a price breakout, with the rise being as high as 30%. The historical analysis is also positive, as the market is very similar to that prior to the period February 3 to 8 of this year, when there was also a sharp rise. The entire analysis including charts can be read here.
As with any currency, there are two sides to this crypto. Namely, if the Ripple (XRP) does not manage to stay above the support level at $0.746, a bearish trend change may occur. The live Ripple (XRP) price is currently at $0.792 with a loss of 0.13%, so the bearish scenario does not seem to be happening (yet). So again, there is plenty to follow and plenty to report on. That’s why we’ll be back tonight with our daily Bitcoin update.
Investing but not in crypto?
Of course, the tensions surrounding Ukraine have an impact not only on the price of Bitcoin and crypto, but also on other investments. Are you curious about what to expect in the coming week for the price of stocks, gold, oil, FOREX and other common investments? We look ahead in our weekly price forecast on MANNERS.co.uk.
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.”