Bitcoin Price and Ethereum Prediction– IMF Promotes CBDC for Financial Inclusion
On October 17, Bitcoin price is trading slightly higher, above the immediate support level of $19,000. Ethereum, on the other hand, has gained more than 1% to $1,300 so far.
Major cryptocurrencies were trading in the green early during the Asian session, as the global crypto market cap grew by 0.44% on the previous day to $920 billion.
DeFi’s total volume is currently $3.6 billion, whereas the total volume of all stablecoins has now reached $35.55 billion.
Top Altcoin Gainers and Losers
The top performers in the Asian session were Casper (CSPR), Synthetix (SNX), and Quant (QNT). The Casper (CSPR) price has risen by more than 16% to $0.049, while SNX’s price has risen by nearly 8% to $2.27. Moreover, QNT’s price rose over 7% to $199.
The Huobi Token (HT) price is exhibiting a bearish correction, losing nearly 12% in the last 24 hours to $6.6. TerraClassicUSD price has dropped more than 10% to trade near $0.037.
Here are some of the events that stood out in the crypto news section:
IMF Touts Programmable and Controllable CBDC for Financial Inclusion
Central bank digital currencies (CBDC) have been promoted by the International Monetary Fund (IMF) as a means to expand access to banking services for the financially excluded. However, there may be undesirable control and surveillance implications associated with their widespread use.
Last week at the IMF-World Bank Annual Meeting, Deputy Managing Director Bo Li remarked that a CBDC’s programmability might help expand access to banking services for low- and middle-income people.
And here we have Deputy Managing Director of the IMF sharing how central bank digital currency (CBDC) would allow the government to precisely control what people can and cannot spend their money on. pic.twitter.com/8cSNIF5XNg
— Nick Anthony (@EconWithNick) October 15, 2022
To elaborate, he said:
“A CBDC can allow government agencies and private sector players to program, to create smart contracts, to allow targeted policy functions.”
As a result, the cryptocurrency market gains traction and may trade positively.
Bitcoin Price
The leading cryptocurrency, Bitcoin, is consolidating near the $19,200 level, with a trading volume of $18 billion in 24 hours. Bitcoin has increased by nearly 0.20% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $368 billion.
Bitcoin has found immediate support near $19,000 and has also crossed below the 50-day moving average, indicating a bearish trend.
A break below $19,000 may cause BTC to fall to the previous triple bottom support near $18,600, while another break may cause BTC to fall to $18,250.
On the upside, resistance is still located near $19,400. If the price exceeds $19,400, investors will likely consider buying until $19,850.
Ethereum Price
The current price of Ethereum is $1,300, with a 24-hour trading volume of $7.8 billion. In the last 24 hours, Ethereum has dropped over 1%. CoinMarketCap now ranks #2, with a live market cap of $122 billion.
The ETH/USD pair is currently trading at a critical support level of $1,300 which is backed up by the 50-day moving average. Above this, ETH is likely to show a bullish reversal, but the downward trendline near $1,340 will act as a barrier.
A break of the $1,292 support level could expose ETH to the $1,269 or $1,225 support levels. Because the RSI and MACD indicate a buying trend, investors are likely to trade bullish above $1,300 (psychological level).
New Crypto Presales
Predictions for Bitcoin and Ethereum prices indicate a slow bullish recovery. Still, presales and new altcoins are one area where more speculative traders can make a large profit quickly, even in a bearish crypto market.
We’ve been following the IMPT token presale, a new cryptocurrency that recently raised more than $5 million.
Find The Best Price to Buy/Sell Cryptocurrency
