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Bitcoin Price and Ethereum Prediction– IMF Promotes CBDC for Financial Inclusion

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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.

Cryptocurrency Market Heatmap | Source: Coin360

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.

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 Price & Tokenomics – Source: coinmarketcap

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.

Bitcoin Price Chart – Source: Tradingview

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.

Ethereum Price & Tokenomics – Source: coinmarketcap

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.

Ethereum Price Chart – Source: Tradingview

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.

Visit IMPT Site

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews