BTC Network’s Mining Difficulty Rises to All-Time High

Bitcoin (BTC) and Ethereal (ETH), the two most popular digital currencies in the world, continued their long uptrend, breaching highs of $21,000 and $1,500, respectively. The mining difficulty of the Bitcoin network has recently reached an all-time high, making it difficult for miners to make a profit.

This increase in difficulty could have an effect on the price of Bitcoin and Ethereum, as it could affect the profitability of mining these digital currencies.

For the first time since ftx accident As of November 2020, the overall market value of all crypto assets surged to over $1 trillion over the weekend. This is an impressive milestone and a good indication of how far digital currencies have come.

The cryptocurrency market has had a bumper year so far, with the value of most major coins rising dramatically. Other digital currencies, such as Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP), are doing well.

What does Bitcoin and Ethereum support?

Although there have been reports of improving macroeconomic conditions, this might not be the only factor contributing to the rise in Bitcoin prices. However, the two most prominent digital currencies in the world, Bitcoin (BTC) and Ethereum, were supported by rising stock markets, lower inflation and low interest rates.

The Consumer Price Index (CPI) shows that inflation is falling, so the market expects the pace of the Federal Reserve rate hike to slow down.

The fact that US central banks have successfully reduced inflation while preventing the economy from going into recession is clear evidence that the bulls are back in the market. If macroeconomic conditions remain favourable, current market momentum is expected to persist.

Shanghai hard fork

Also, the upcoming “Shanghai Hard Fork” for Ethereum, which will provide access to tokens that have been locked and inaccessible for months, has been greeted as good news. The Shanghai upgrade for Ethereum (ETH) is scheduled to start in March.

The US dollar is falling and cryptocurrencies are on the rise

The broad-based US dollar was unable to halt its decline, falling to its lowest point in more than seven months the day after data revealed that December inflation had eased for the first time in two-and-a-half years, raising hopes. of a lower interest rate. Federal Reserve hikes.

The declining value of the US dollar has significantly added to the allure of cryptocurrencies and other digital currencies. This has made them much more desirable to investors and people looking for alternative investment options.

bitcoin price

Monday, BitcoinThe price of moved up to the $21,150 level. Its immediate resistance is at $21,350, and a bullish break of it could take the price towards the $22,850 level.

Furthermore, Bitcoin may find additional resistance near the $24,500 level. The formation of “three white soldiers” indicates the possibility of a continuation of the uptrend. On the downside, Bitcoin can get immediate support near the $21,000 or $20,500 levels.

Bitcoin Price Chart – Source: Tradingview

The RSI and MACD indicators also suggest an uptrend, so consider looking for a buying opportunity when the double overhead resistance level of $21,350 is broken today.

ethereum price

Ethereal The value of has been on the rise of late, with its key support point marked at $1,500. Closing the daily candles above the $1,500 level exposes its price towards the next resistance zone of $1,660.

Like Bitcoin, Ethereum has formed “three white soldiers” and a bullish engulfing candle after breaking out of the upside symmetrical triangle pattern. All of these technical indicators are signaling a strong bullish bias among investors.

Ethereum Price Chart – Source: Tradingview

Therefore, consider buying trades above $1,525 with a target of $1,650.

Could these altcoins be the next big thing?

Cryptocurrencies have gained massive recognition due to the tremendous growth they have experienced. This has led to increased interest in these alternative forms of currency and early investors have the opportunity to make huge profits on their investments.

Fight (FGHT)

With To struggle , now you can enjoy the benefits of personal training without paying high fees. Instead, you simply use FGHT tokens for prepaid exercises & workouts It has never been easier to stay fit and healthy!

The FGHT pre-sale was a huge success and raised a staggering $2.95 million in investment. All activities related to the metaverse avatar are recorded and can be used to improve performance evaluation results.

The value of 60.06 FGHT per $1 (available in ETH or USDT) is expected to rise during the sale period. The FGHT discounted price won’t last forever – it will expire in 7 days, 20 hours. Don’t miss out on this incredible offer!

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C+Charge (CCHG)

C+Load is developing a blockchain-based EV payment platform that will award carbon credits to EV drivers every time they charge up for the first time. This could potentially help level out the competitive atmosphere in the carbon credit market, which has long been dominated by a handful of large companies.

With the ability to earn carbon credits, C+Charge is more motivated than ever to push electric vehicles even further and faster. This added incentive helps them lead the movement toward a greener future.

Analysts predict that the voluntary credit market (VCM) will reach a whopping $100 billion by 2030. C+Charge is already participating in this expansion, having raised $290,795 in its presale.

Visit C+Charge now

Meta Masters Guild (MEMAG)

If you’re a mobile gaming enthusiast, then you won’t want to miss the Presale for Meta Masters Guild. This gaming guild is based on Ethereum and will provide a unique combination of Web3 & play to win games with tokenized NFTs. You can use MEMAG, your native token, as an incentive to bet and sell.

The MEMAG will be implemented in seven phases, with the initial phase priced at $0.007 each. When it hits the market, this price is forecast to rise to $0.023 per MEMAG, rewarding early adopters with an impressive 228.5% return on their investment.

The release of Meta Kart Racers in the second quarter of this year is likely to lead to increased growth for the Meta Masters Guild. If economic & market conditions improve, the platform’s native currency could see significant gains.

There is a limited amount of time to participate in this incredible investment.

There are only 4 days and 8 hours left until the price goes up; the current total of $267,484 USDT has been raised out of a goal of $490,000. Don’t miss this unique opportunity: time is running out!

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Find the best price to buy/sell cryptocurrencies

Cryptocurrency Price Tracker – Source: cryptonews

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