Bitcoin (BTC) has been regaining its strength and is trading above $23,000 ahead of the Federal Open Market Committee’s interest-rate decision next week. But the Personal Consumption Expenditures (PCE) report, which showed that inflation slowed down at the end of last year, led to a rise in the value of cryptocurrencies.
Still Believe #BTC Will Be Higher Than 25k This Year, And Should Be Profit At Least 15$ With My Small Cap #Binance #Spot #Trading pic.twitter.com/emGH8SxtfB
— Shin Crypto (@shin_crypto_) January 28, 2023
So, people on the market have been predicting that the FOMC will only raise interest rates by 25 basis points at its meeting in February. Across the ocean, the price of Bitcoin (BTC-USD) may fall if the Fed keeps its hawkish stance.
With FOMC meeting ahead, what would be #bitcoin $BTC price in next week.
I predict it would be surged beyond $25,000
— Jennifer (@Jennifer_Krypto) January 28, 2023
At the time of writing, Bitcoin has a value of $22,988.93, while its 24-hour trading volume is $21,694,617,046. In the last day alone it has risen by 0.09%. Bitcoin is the most sought-after cryptocurrency with a current market cap of $443 billion. It has a maximum supply of 21 million BTC coins, out of which 19.27 million are in circulation right now.
How The US Dollar Could Be Limiting Bitcoin’s, Price Gains
The broad-based US dollar has managed to extend its rally and climb from eight-month lows in the aftermath of the Federal Reserve’s economic soft landing and a break from its aggressive monetary tightening next week, which has increased in response to slowing inflation data.
US dollar turns higher as the mood turns negativehttps://t.co/ROtuvAsDk7
— ForexLive (@ForexLive) January 27, 2023
The Commerce Department reported that consumer spending in the United States fell for a second straight month in December. The report also showed that personal income had grown the least in eight months. This was mostly due to moderate wage growth, which is not necessarily a sign of rising inflation.
Latest Progress in Cryptocurrency Payments
The crypto industry is experiencing many developments, with the New York State Senate receiving a bill on January 26th that would allow cryptocurrencies to be accepted as a valid form of payment. Bitcoin Cash, Ethereum, Litecoin, and Bitcoin are the only accepted currencies listed in the bill.
New York State introduces bill allowing state agencies to accept #Crypto#blockchainsecrets #BTC #BITCOIN #ETH #Ethereum
— Blockchain Secrets (@BlockSecrets21) January 28, 2023
If New York Assembly Bill 2532 is passed and signed into law, allowing for the limited acceptance of cryptocurrencies as payment, the prices of Bitcoin will rise.
Institutional Bitcoin Buying
Institutional investors have been increasing their buying of cryptocurrencies, especially Bitcoin, according to recent data from Matrixport, a digital asset financial services platform.
According to data, institutional investors currently buy 85% of all Bitcoin. This shows that institutional investors are still very interested in cryptocurrencies.
Good news for crypto: 85% of #Bitcoin buying is coming from American institutional players, according to Matrixport's chief strategist.
— SAKIB RAHMAN( crypto informer) (@SAKIBRA79061883) January 28, 2023
As a result, this was viewed as another important factor contributing to the rise in Bitcoin’s price.
Three Cryptos That Are Worth Investing In Now
Presales for new crypto projects are an important metric for judging potential success. With the ever-growing list of crypto projects, it is wise to pay close attention to the presale stage if you are looking at investing in one.
Investing in MEMAG, FGHT, and C+Charge which are all on presale now can be a lucrative opportunity. These cryptos have the potential to generate much higher returns than other assets.
Meta Masters Guild (MEMAG)
MEMAG is the fastest-growing P2E guild in 2023, thanks to its commitment on creating fun and rewarding games for the mobile gaming market. Meta Masters Guild wants to encourage blockchain use by providing a web3-based mobile game platform that anybody can use.
MEMAG users can earn GEMS or game currency by participating in a range of exciting mobile games. In addition to being used to upgrade in-game characters, these tokens can be swapped for native ERC-20 MEMAG tokens and bought and sold on open marketplaces. MEMAG tokens are currently available for pre-sale, so act immediately for the best future profits.
Moving on, the $MEMAG token is set to achieve new heights in the near future, owing to a gaming community of gamers that keep returning for more. One of the best aspects of Meta Masters Guild is that players do not need to make any initial financial contributions.
Meta Masters Guild’s presale is already in Stage 3. So, buy now before the price rises again to the next level.
Fight Out (FGHT)
Fight Out is yet another new cryptocurrency project based on the greatest Move-to-Earn fitness app on the market. Users may download the app and earn REPS, or “in-app tokens,” for every workout they complete.
Fight Out (FGHT) is shedding light on a vast fitness industry by developing new software that rewards users for leading a better lifestyle and performing activities.
Fight Out tracks your real-life workouts and displays your progress toward your goals using individual avatars. This simple visual representation of your progress motivates users to come back for more.
The FGHT presale has been incredibly successful, having brought in a staggering $3.5 million so far. This shows just how much investors have taken to the project, with the presale selling out quickly in recent months. Another price hike is imminent, so act quickly or risk missing out.
C+ Charge (CCHG)
C+ Charge is yet another new cryptocurrency platform that will make its CCHG token holders super rich in the coming years. The platform is made for owners of electric vehicles (EVs), and since that sector of the economy is expanding, C+ Charge is anticipated to soar in the coming years.
In other words, if you drive or charge an electric vehicle, you will earn carbon credits. These credits can then be converted into native CCHG tokens, which can be used to pay for EV charging at stations all over the world.
This incredibly innovative new green cryptocurrency project is currently in presale, but it will quickly sell out. In actuality, it has already raised more than $432,000, and the first CEX launch is set for March 31.
Can Bitcoin Price Break Through $23,000 This Week And Why That Matters
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- Bitcoin and Ethereum Prices Are Getting Set to Blast Higher – BTC to $25k, ETH to $ 2k This Week?
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain
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