Bitcoin and Ethereum Price Predictions: What Today's Crypto Market Indicators Are Telling Us
On January 8, the Bitcoin price prediction was mostly steady as BTC continued to consolidate just below $17,000. Similarly, Ethereum, the second-largest cryptocurrency, is trading choppy near the $1,260 trading range after failing to hold above $1,275. As of January 08, Bitcoin volatility had dropped to new lows, disappointing buyers and sellers alike.
According to a tweet by CoinShares' head of research James Butterfill, Bitcoin's 30-day volatility has hit a record low of 18.7, putting it inside the range of well-known equity indices like the Nasdaq and S&P 500.
Ever since the FTX-induced market volatility phase in mid-November, Bitcoin trade volumes have been gradually declining, reflecting this trend. According to data compiled by CoinMarketCap, trading activity has decreased by over 3% since January 6th.
Given the coin's volatile history over the past decade, this seems like a significant change.
In a year-end Q&A released by Advisors Capital Management this week, former Federal Reserve Chairman Alan Greenspan discussed his thoughts on cryptocurrency, the defunct cryptocurrency exchange FTX, and the US economy.
From 1987 until 2006, Greenspan presided over the Federal Reserve as its chairman for a total of five terms. He served as chairman under the administrations of four separate American presidents. In September of 2016, he started working as the Economic Advisor at Advisors Capital Management.
The former head of the Federal Reserve was asked about the recent FTX crash and whether or not it could spread. After reviewing "the information that has come to light so far," Greenspan concluded that the effects of FTX would be limited to the cryptocurrency and NFT (non-fungible token) industries. Noting the importance of
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