Bitcoin The past few days have seen a significant pullback, leading many investors to question where the next buy zone lies. Using price prediction models and technical analysis, investors can predict where bitcoin could be headed in the near future.
On February 3, major cryptocurrency bitcoin consolidated in a narrow range of $23,300 to $23,750, despite the release of better-than-expected US non-farm employment data.
US job growth in January far exceeded expectations, with 517,000 new jobs
In early 2023, the job market was looking incredibly positive due to an impressive increase in non-farm payrolls compared to July 2022. Forecast of 187,000 and December gain of 260,000.
According to Michelle Meyer, chief US economist at the MasterCard Economics Institute, the report was “extraordinary”. This raises the question of how job growth can be sustained in light of some economic volatility.
It is clear that during this time there is a great need of workers in many industries. Companies are striving to ensure that their staffing levels are adequate to current business needs.
The figures show that the unemployment rate has reached its lowest level since May 1969 at 3.4% compared to 3.6%. Additionally, the labor force participation rate rose to 62.4%.
The official unemployment rate rose to 6.6% in June, although the rate rises to 8.9% when those with part-time jobs for economic reasons or who are pessimistic about their job prospects are included.
According to the Labor Department’s household survey, the number of unemployed increased by a significant 894,000 in June.
bitcoin price
The value of Bitcoin is currently at $23,572 and has an impressive 24-hour trading volume of $30 Billion. In the past 24 hours, the cryptocurrency has experienced a slight decline of 1%. It ranks first in Coinmarketcap’s ranking with a total market capitalization of $454 billion. The total amount of bitcoin tokens in circulation is 19,280,543 and the maximum supply that can ever exist is 21,000,000.
On the 4-hour time frame, bitcoin bounced off the 50-day support level at $23,300. On the upside, a break above the $23,300 level could expose BTC price towards $24,00 or $24,550.
On the downside, an immediate support for bitcoin lies at $22,500, and a further drop below this level could expose it to $21,550.
ethereum price
currently, Ethereum is trading at a price of $1,660 with a 24-hour trading volume of $9.8 million. It has seen a decline of 0.85% on the previous day. As per the current ranking by Coinmarketcap, Ethereum is at the second spot with a live market capitalization of over $203 billion.
On the 4-hour time frame, the ETH/USD pair has formed a bullish engulfing pattern, indicating a likely continuation of the bullish trend in ETH.
If Ethereum price manages to break above the $1,680 resistance, it could potentially move higher towards $1,750. Besides, if there is a downside break below $1,600 then a bearish trend could dominate and the price could decline further towards $1,560.
3 coins to watch during the presale
The cryptocurrency market has seen steady growth over time. Taking pre-sale coins is sometimes seen as a viable option for investors who want to capitalize on the success of a new project. While there are potential rewards, the associated risks must also be considered before investing.
It is beneficial to keep an eye on some coins during the pre-sale. Here are three such coins to consider.
Fight Out (FGHT)
to fight There is an easy and inexpensive way to stay active. You can get experiential personal training services at a low cost by purchasing FightOut tokens. This means that even those with a limited budget can benefit from exercise.
Despite Move2Earn’s extensive feature set, their ability to assess physical and mental fitness, as well as their NFT avatars and social competition components, set them apart from other M2E programs.
Fight Out’s real-time performance tracking allows users to measure and track their progress in areas of strength, cardiovascular endurance, and more.
Investors love the $FGHT cryptocurrency from Fight Out because it has a strong view and large pre-sale incentives ranging from 50% to 100% depending on the amount invested. Over $3.5 million has already been raised.
C+ charge (CCHg)
c+ charge is building a revolutionary online payment solution for Electric Vehicle (EV) owners. Users will be able to trade in their initial fee for credits which can be used to purchase carbon credits. The ultimate goal is to significantly reduce greenhouse gas emissions caused by automobile driving.
Given its true game-changing potential, this technology has the potential to completely disrupt the carbon credit market. This allows a broad spectrum of businesses to be involved, while also adding value to them.
VCMs are expected to be worth $100 billion by 2030, making them an interesting investment prospect for corporations. The C+Charge pre-sale raised approximately $616,000, demonstrating the strong demand for VCMs.
Meta Masters Guild (MEMAG)
In just a few days, the Meta Masters Guild has grown from $200,000 to $2.7 million. This significant growth implies that the public has a high degree of confidence in the future prosperity and ability of the company to generate profits. The Meta Masters Guild will release its first mobile game in the third quarter of 2023.
The MEMAG network has been operating for some time and allows users to produce and manage their own coins as well as trade them on the open market. They are also working on games in which participants can earn rewards, as well as games powered by Web3, an Ethereum-compatible technology.
Investing in MEMAG currently starts with the purchase of $10 in MEMAG tokens. If you engage in pre-sales you will receive a token for a percentage; Early investors will have a limited chance to participate.
Visit the Meta Masters Guild now
Find the best price to buy/sell cryptocurrency
Bitcoin Crypto Related Post