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Bitcoin
Bitcoin (BTC)
$117,722.00 1.77935
Bitcoin price
Ethereum
Ethereum (ETH)
$4,620.95 3.16932
Ethereum price
BNB
BNB (BNB)
$993.47 4.45401
BNB price
Solana
Solana (SOL)
$252.85 8.18484
Solana price
XRP
XRP (XRP)
$3.12 3.23485
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000136 4.46478
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000116 6.82001
Pepe price
Bonk
Bonk (BONK)
$0.0000257 8.18718
Bonk price
dogwifhat
dogwifhat (WIF)
$0.962651 5.3642
dogwifhat price
Popcat
Popcat (POPCAT)
$0.294719 10.34402
Popcat price
Bitcoin
Bitcoin (BTC)
$117,722.00 1.77935
Bitcoin price
Ethereum
Ethereum (ETH)
$4,620.95 3.16932
Ethereum price
BNB
BNB (BNB)
$993.47 4.45401
BNB price
Solana
Solana (SOL)
$252.85 8.18484
Solana price
XRP
XRP (XRP)
$3.12 3.23485
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000136 4.46478
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000116 6.82001
Pepe price
Bonk
Bonk (BONK)
$0.0000257 8.18718
Bonk price
dogwifhat
dogwifhat (WIF)
$0.962651 5.3642
dogwifhat price
Popcat
Popcat (POPCAT)
$0.294719 10.34402
Popcat price
Bitcoin
Bitcoin (BTC)
$117,722.00 1.77935
Bitcoin price
Ethereum
Ethereum (ETH)
$4,620.95 3.16932
Ethereum price
BNB
BNB (BNB)
$993.47 4.45401
BNB price
Solana
Solana (SOL)
$252.85 8.18484
Solana price
XRP
XRP (XRP)
$3.12 3.23485
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000136 4.46478
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000116 6.82001
Pepe price
Bonk
Bonk (BONK)
$0.0000257 8.18718
Bonk price
dogwifhat
dogwifhat (WIF)
$0.962651 5.3642
dogwifhat price
Popcat
Popcat (POPCAT)
$0.294719 10.34402
Popcat price

Bitcoin crosses the $18K mark after weeks of trying to recover

Yana Khlebnikova
Edited by
News
Bitcoin crosses the $18K mark after weeks of trying to recover

Following weeks of consolidation, bitcoin and other cryptocurrencies have started to bounce back after the positive Consumer Price Index data release. BTC is currently trading above 18,000.

BTC hits the long-awaited mark

Analyst Crypto Kaleo, on Twitter, had made a prediction earlier today that bitcoin would make the jump past the $18K level:

After falling to a low of $17,412.19 on Tuesday, the price of BTC/USD rallied to $17,930.09 during earlier today’s session. It’s the highest point since November 9, the last time the cryptocurrency was above $18,000. According to Trading view data, BTC then pushed higher to trade above the $18,000 mark.

Bitcoin crosses the $18K mark after weeks of trying to recover - 1
BTC/USD chart: Tradingview.com

The 14-day relative strength index, which measures the strength of the market, has also accelerated to its highest level since November. Currently, the index is hovering around the 60.00 mark, a crucial level.

BTC might retest $10K

VanEck predicts:

“Looking ahead, bitcoin could test $10,000-$12,000 as miner bankruptcies increase due to the drop in bitcoin value and increasing electricity costs.”

VanEck

According to the investment firm, many miners will be forced to merge or restructure to find capital during a difficult time in the mining industry. It added that bitcoin has been trading like a risky asset due to its sensitivity to rising interest rates.

As for 2023, they noted that the bitcoin price could recover to around $30,000 as inflation starts to fall. The firm also pointed out that the price could reach its peak in 2024.