Bitcoin and Ethereum prices are poised to spark a lasting crypto bull run

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The crypto market is poised to spark a lasting bull run. Bitcoin and Ethereum are poised to hit new yearly highs, which could trigger a more widespread rally in the crypto market in the coming weeks.

Bitcoin continued its strong winning streak and climbed over 8.5% to $23,162. The second largest cryptocurrency, Ethereum (ETH), is also seeing a significant upside as it rose around 5% to $1,655.

Despite the ongoing negative news from two major exchanges, Coinbase and Gemini, bitcoin seems to be ignoring all the market turmoil this week.

Coinbase Under Fire: How Weak Security Practices Led to a Mass Lawsuit

In an effort to keep their class action lawsuit against cryptocurrency exchange Coinbase out of arbitration, a group of investors are keeping their account details secret.

They hope their case will eventually be heard in a US court. Customers allege that Coinbase’s security measures were not very good and resulted in the loss of funds. They also allege that Coinbase is trying to avoid any compensation for their victims.

A plaintiff in the lawsuit had $6,000 in crypto funds illegally withdrawn from his wallet and moved to an address that was not his. He also alleges that Coinbase did nothing to stop the hackers, who stole $1,000 from his bank account. Therefore, the mass lawsuit may weigh on the cryptocurrency market.

Investors File Lawsuit Against Gemini Exchange Over Fraud Allegations

In addition to Coinbase, Gemini is also in the spotlight, causing a slowdown in the rise of the cryptocurrency market. A class action lawsuit claims the company violates the Exchange Act. The Earn program, through which Gemini pays its merchants up to 7.4% interest, is at the heart of a lawsuit filed against the company and its founders in the US Southern District of New York.

When the program stopped accepting investments in December 2022, those who had already invested were unable to withdraw their money. The FTX market crashed in late November, causing the Earn program to be discontinued, and that’s when founder Sam Bankman-Fried set up Alameda Research.

This company reportedly received $10 billion in cash from FTX digital customers.

Genesis Global, which works with Gemini and is an institutional crypto firm, felt the effects of one of FTX’s declines. Max J. Hastings and Brendan Picha are the people who filed the lawsuit. This answer questions whether Gemini has registered any assets as securities in US law.

Additionally, it is claimed that Genesis owes Gemini nearly $1 billion. On November 16, 2022, Genesis announced that due to “issues with FTX”, all loan buybacks would be delayed. In other words, the company is not available for any future loans. Therefore, the mass lawsuit may weigh on the cryptocurrency market.

bitcoin price

The current Bitcoin price is $23,240.65 and the daily trading volume is $35 billion. Bitcoin is up 7% in the past 24 hours, with a market capitalization of $447 billion. CoinMarketCap currently ranks number one.

Bitcoin is now holding just below the $23,150 mark. On the daily time frame, Bitcoin has formed a bullish engulfing candle which suggests there is a chance for a continuation of the uptrend. If Bitcoin breaks above the $22,750 level, it could target the $24,000 or $24,550 levels.

Bitcoin price chart – Source: Tradingview

At the bottom, Bitcoin’s immediate support prevails at $22,500 and a further drop below this level may expose it to $21,550.

Ethereum Price

The price of Ethereum in the last 24 hours is $1,654.74 with a trading volume of $10 billion. They are valued at 4% over the past day.

CoinMarketCap, which provides live cryptocurrency and token market alerts, currently ranks second in average daily trading volumes

On January 21, the ETH/USD pair faces strong resistance near $1,680. ETH price closed below the $1680 resistance on December 22, with a bearish doji around the minor bullish candle at $1690.

Ethereum price chart – Source: Tradingview

There is a chance (although not a very high one) that ETH price will hit $1,610 in the near term if it manages to close the candles above this level.

Let’s keep an eye on $1,610 to watch for any closes above this level. If it closes above this level, we could see a potential buy trade.

3 pieces to watch during the presale: make returns before everyone else!

Investing in altcoins at the pre-sale stage is beneficial for investors who prepare and follow proper research and recommendations. They will be able to take advantage of the potential of these coins.

Fight (FGHT)

Fight Out is a convenient and economical way to stay in shape. By purchasing their FightOut tokens, you can access expert personal training services at low cost, allowing even those on a tight budget to reap the benefits of exercise.

Despite the new fitness app of Move2Earn’s strong lineup of features, it’s their unique ability to track physical and mental fitness, along with their NFT Avatar and social competition feature, that sets them apart from other M2E programs. Real-time tracking of a user’s performance by Fight Out allows users to monitor and track their progress in terms of strength, cardiovascular endurance, and more.

As a user, you can even compete against friends of similar skill levels. Once you achieve a goal in reality, your avatar levels up like mine – preparing it for possible battles against other users’ avatars to earn rewards.

Investors are opting for Fight Out’s $FGHT cryptocurrency with its promising concept and impressive pre-sale bonuses that can vary from 50% to even more depending on your investment.

With partners like LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs providing operational and financial support, this project is poised for success and has already raised over $3 million to date.

The FGHT will be on sale for a limited time. If you are considering investing, act quickly and take advantage of this opportunity.

Visit FightOut now

C+Load (CCHG)

C+Charge launches a revolutionary online payment system for electric vehicle (EV) owners. It will allow users to convert their initial load into credits that can be exchanged for carbon credits. The ultimate goal is to significantly reduce greenhouse gas emissions when traveling by car.

Since the potential of this technology is completely game-changing, it has the power to completely transform the carbon credit market. This allows a wide range of businesses to participate and also adds greater value to them.

VCMs are expected to reach $100 billion by 2030, making it a booming investment opportunity for companies. C+Charge raised over $344,000 in its pre-sale, indicating that there is strong demand for VCMs.

Visit C+Charge now

Meta Masters Guild (MEMAG)

The Meta Masters Guild went from $200,000 to $550,000 in just a few days. This remarkable increase indicates that the public has a high level of confidence in the future growth of the company and its ability to generate profits. In the third quarter of 2023, Meta Masters Guild will release its first mobile game.

The MEMAG network has been around for quite some time, allowing users to create and manage their own cryptocurrencies in addition to trading on the public exchange. They also develop games that allow users to earn rewards for playing as well as those that are powered by Web3, an Ethereum compatible system.

Currently, the process of investing in MEMAG begins with the purchase of $10 worth of MEMAG tokens. If you participate in the presale, what is offered is 1 token for only $0.01; early investors have a limited window of opportunity to participate.

Visit Meta Masters Guild Now

Find the best price to buy/sell a cryptocurrencyCryptocurrency Price Tracker – Source: Cryptonews

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