Bitcoin and Ethereum Price Explosion Leads Crypto Market Higher

Bitcoin, the world’s largest and most popular digital currency, has increased by 4% in the last 24 hours and by more than 15% in the last seven days. Ethereum, the second most valuable currency, is up 14% in a week to $1,420.

The University of Michigan’s Consumer Confidence Index rose to 64.6 in early January from 59.7 in the previous month, indicating an uptick in consumer mood across the United States. In contrast to the market’s forecast of 60.5, this figure was higher.

Miss Universe El Salvador Holds Bitcoin Staff

El Salvador’s Miss Universe 71 representative Alejandra Guajardo wore a Bitcoin-themed dress to the Wednesday night National Costume Show. Francisco Guerrero, a plastic artist, created an ensemble of currencies that paid special homage to Bitcoin.

Guajardo carried a cocoa-bean-decorated colon, the former currency of her nation, and a staff bearing the Bitcoin emblem. The pageant announcer said:

“This look represents El Salvador’s history of currency,”

El Salvador’s President Nayib Bukele has been a staunch advocate for Bitcoin despite the fact that its value has dropped by more than 50% since the law went into force.

Although he may have had some influence over Guajardo’s pageant attire, he has been involved in supporting multiple BTC adoption projects.

Bitcoin Price

Bitcoin is currently trading at $19,450, with a 24-hour trading volume of $26 billion. Bitcoin is on a tear and has already broken through $19,000, which is currently acting as an immediate support.

A bullish breakout of this level has created more room for purchasing to $19,850, or perhaps higher, to the psychological trading milestone of $20,000.

Bitcoin Price Chart – Source: Tradingview

Bitcoin’s immediate support level stands at $19,000, or $18,400. At the same time, the RSI and MACD indicators have crossed into overbought territory.

As a result, we must keep a watch on $19,000, as failure to break above this level may result in a BTC price movement that is negative.

Ethereum Price

The current price of Ethereum is $1,428 with a 24-hour trading volume of $6.8 billion. The ETH/USD pair has broken past the $1,350 key resistance level and is now on course to the $1,500 barrier level.

On the downside, the immediate support level for Ethereum is $1,350, and candles closing above this level are expected to drive a rally. If the $1,430 level is breached, the price of ETH may rise to the $1,500 resistance level.

Ethereum Price Chart – Source: Tradingview

On the downside, the ETH price may find support near $1,375, and a bearish break of that level could lead to additional selling to $1,330. Today’s bullish trend is strong, so look for opportunities to buy.

Alternative Cryptocurrencies With Big Growth Potential To Invest In Right Now

Following the recent downturn in the bitcoin market, a few alternative currencies have gained attention.

Fight Out (FGHT)

The FightOut (FGHT) platform works in the same way as a personal trainer does, except that workout time is pre-paid with the FGHT token. All activities are monitored and can be used to improve one’s metaverse avatar’s metrics. The FGHT presale is going well, with approximately $2.88 million raised so far.

The current selling price of 60.06 FGHT for $1 (FGHT may be purchased using ETH or USDT) is projected to grow as the sale unfolds.

Visit FightOut Now

C+Charge (CCHG)

C+Charge is creating blockchain-based EV payments software that will give EV drivers carbon credits every time they charge for the first time. C+Charge sees this as a means of leveling the playing field in the carbon credit market, which has previously been dominated by a few large firms.

Forecasters feel the project has promised since it will profit from the expected large growth in the carbon credit market. Coherent Market Insights predicts that the market would be valued at more than $2.4 trillion by 2027, up from roughly $211.5 billion in 2019.

Earning carbon credits is an extra incentive for C+Charge to accelerate the already rapid transition to EVs. Analysts predict that the voluntary credit market (VCM) will reach $100 billion by 2030, with businesses like C+Charge playing a big part in this growth. So far, the presale has raised $269,812.

Visit C+Charge Now

Meta Masters Guild (MEMAG)

Today marks the start of the presale for Meta Masters Guild, a mobile-focused gaming guild that will build a mix of Web3 and play-to-earn games. Its Ethereum-based games will include playable NFTs as well as incentives that can be traded for MEMAG, the company’s native token, which can then be staked and sold. It will be available in seven stages, the first of which is now offering one MEMAG for $0.007.

Even before MEMAG goes public, this price will gradually rise to $0.023, a 228.5% increase for the first investors. Meta Masters Guild is expected to grow rapidly when the platform’s initial game (Meta Kart Racers) is released in the second quarter of this year.

Furthermore, if the wider market and world economy improve, its native coin might be a major beneficiary.

Visit Meta Masters Guild Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

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