Is it time to buy Bitcoin and Ethereum as BTC rises by 10% and ETH approaches $2,500?

Bitcoin price surges over 10% to break through $43,000 mark, Ethereum (ETH) approaches $2,500 as crypto market witnesses...

🚀 Bitcoin and Ethereum Price Predictions: Riding the Wave of Bullish Momentum

Amidst a rally that has seen Bitcoin (BTC) spike over 10%, crossing the $43,000 threshold, and Ethereum (ETH) approach the $2,500 mark, the crypto market is riding a wave of bullish momentum. This surge sparks an intense focus on Bitcoin and Ethereum price predictions as investors gauge the sustainability of this uptrend.

This remarkable uptrend is partly fueled by Grayscale’s decreased Bitcoin sales, injecting a wave of optimism among investors and contributing to the positive market sentiment. Additionally, the buoyant performance of the US stock market and Google’s renewed acceptance of Bitcoin ads have further bolstered BTC prices.

However, with the upcoming US Federal Reserve meeting casting a shadow of uncertainty, investors are on edge. The meeting’s outcome, along with the January job numbers, could significantly impact Bitcoin and Ethereum price predictions, making this a critical moment for potential buyers and the broader cryptocurrency landscape.

Bitcoin Price Rises as Whales Gain Confidence

The global digital asset industry witnessed a brief surge as Bitcoin reclaimed the $43k level, leading to a 2% increase in the total market cap to $1.66 trillion within 24 hours. Despite a temporary drop to $38k, Bitcoin whales showed confidence by accumulating more BTC, with 67 new entities now holding 1,000 BTC or more, indicating a 4.50% increase in two weeks.

• 💰 Bitcoin ETFs See Massive Inflows as Bitcoin Price Surges
• Portal Secures $34 Million Funding for Bitcoin Atomic Swaps
• The Battle for Bitcoin ETF Supremacy: Grayscale Versus Wall Street Giants

This surge positions Bitcoin for its fifth consecutive monthly gain, marking the longest streak since the pandemic-era rally. The recent boost is attributed to the launch of US spot Bitcoin ETFs by BlackRock and Fidelity, contributing to positive market sentiment.

Therefore, the positive developments, including Bitcoin whales accumulating more BTC and the market surge driven by US spot Bitcoin ETF launches, have contributed to increased confidence, potentially supporting Bitcoin’s price recovery and its fifth consecutive monthly gain.

Google’s Bitcoin ETF Ad Approval Boosts Crypto Mainstreaming

Google has changed its rules to allow ads for Bitcoin ETFs, following the SEC approving spot Bitcoin ETFs. This is a big deal because it means companies like VanEck and BlackRock can now reach more people through Google, increasing awareness and attracting more investors.

This move shows that cryptocurrencies are gaining acceptance in finance. However, there are risks, like scams. Google says they’ll enforce rules globally to prevent misuse.

Consequently, the news of Google allowing ads for Bitcoin ETFs could positively impact BTC prices by increasing visibility and attracting more investors, fostering mainstream acceptance and potentially contributing to a price uptick.

Bitcoin Price Prediction 📈

Bitcoin’s technical posture on January 30 presents a pivotal moment for traders, as evidenced by its latest chart structure. Currently, Bitcoin trades narrowly above its pivot point, marked by the green line at $42,491. This level serves as a fulcrum for the price action, with immediate resistance waiting at $42,710. Beyond that, the subsequent resistance levels are charted at $42,989 and $43,769, potentially capping upward movements.

Conversely, supports are arranged below, providing a safety net at $42,491, followed by more substantial floors at $41,675 and $40,586. These levels will be crucial if Bitcoin experiences a downturn. The RSI indicator, positioned at 65, suggests that the market is approaching overbought territory but not excessively so, hinting at a tempered bullish momentum.

Ethereum Price Prediction 📈

Ethereum’s price action, as of the latest four-hour chart snapshot, suggests a market in cautious ascent. The cryptocurrency is currently trading at $2,346.5, with the pivot point established at $2357.7, indicated by the green line. Resistance levels are delineated at $2,359.5, $2,423.1, and $2,477.2, each forming a potential ceiling for upward price movements.

On the downside, immediate support is found at $2,286.3, with further cushions at $2,263.9 and the more definitive level at $2,240.6. The Relative Strength Index (RSI) is at 57, suggesting a neutral to slightly bullish sentiment without veering into overbought territory. The 50-day Exponential Moving Average (EMA) at $2,263.9 provides additional support, reinforcing the positive bias as the current price is hovering above this line.

Observing Ethereum’s chart patterns, we see a recent break above the 0.236 Fibonacci retracement level, typically a bullish sign. However, the proximity to the pivot point warrants vigilance, as a drop below could quickly shift the trend.

✨ Top 15 Cryptocurrencies to Watch in 2023

Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Blocking.net, ensuring expert advice and critical insights for your cryptocurrency investments.

Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.

See the 15 Cryptocurrencies

Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Follow Us on Google News

🔍 Q&A

Q: What factors contribute to the recent surge in Bitcoin and Ethereum prices?
A: The recent surge in Bitcoin and Ethereum prices is fueled by Grayscale’s decreased Bitcoin sales, positive market sentiment driven by the launch of US spot Bitcoin ETFs, and Google allowing ads for Bitcoin ETFs, which increases visibility and mainstream acceptance.

Q: Are Bitcoin and Ethereum price predictions affected by the upcoming US Federal Reserve meeting?
A: Yes, the upcoming US Federal Reserve meeting and the January job numbers can significantly impact Bitcoin and Ethereum price predictions. Investors are paying close attention to the outcome and how it might affect the broader cryptocurrency landscape.

Q: What support and resistance levels should be monitored for Bitcoin and Ethereum?
A: For Bitcoin, important support levels include $42,491, $41,675, and $40,586, while resistance levels are at $42,710, $42,989, and $43,769. For Ethereum, support levels are at $2,286.3, $2,263.9, and $2,240.6, while resistance levels are at $2,359.5, $2,423.1, and $2,477.2.

Q: Can Google allowing ads for Bitcoin ETFs impact BTC prices?
A: Yes, the approval of Bitcoin ETF ads by Google can increase visibility and attract more investors, fostering mainstream acceptance and potentially contributing to a price uptick.

🌐 References

1. Bitcoin Price Pumps Towards $45,000 as Reporter Claims SEC to Approve Multiple BTC ETF Applications, News Expected Soon
2. Twitter: CoinMarketCap
3. Twitter: hbdherculean
4. Twitter: Crypto_TownHall
5. Twitter: EvanLuthra
6. Bitcoin Halving Time: Why Is It Different?
7. Long Crypto Traders See $190M in Losses as Bitcoin Retreats Despite Apparent Mt.Gox Repayments
8. Crypto News on Google

---

Hey readers! What are your thoughts on the recent surge in Bitcoin and Ethereum prices? Do you think the upcoming US Federal Reserve meeting will have a significant impact? Share your opinions in the comments below and don’t forget to follow us on social media for more cryptocurrency updates! 📈💰

We will continue to update Blocking; if you have any questions or suggestions, please contact us!