On January 11, Bitcoin (BTC), the world’s largest cryptocurrency, is staying bullish but it’s facing strong resistance at $17,500. Likewise. Ethereum‘s (ETH) price is consolidating in a narrow range of $1,320 to $1,345 levels.
Bitcoin Named Dirtiest Crypto of 2022
According to a survey, a Luxembourg-based foreign exchange and teaching website, Bitcoin was the world’s most polluting cryptocurrency in 2022, emitting about a ton of carbon dioxide (CO2) per transaction. After pollution was reduced in 2021, the Bitcoin network had a significant spike in CO2 emissions last year, according to the analysis.
In 2022, the total CO2 emissions from the Bitcoin network were almost 86.3 million tons. According to the trading platform, if we planted trees at the rate of 431.6 million per year, we would be able to offset Bitcoin’s annual emissions.
The growing trend of Bitcoin miners switching to greener energy sources was overlooked in the research. The Bitcoin Mining Council predicts that by the end of the third quarter of 2022, the proportion of renewable energy used in Bitcoin mining will have increased to 59.4%, up from 58.6% the year before.
Bitcoin is presently trading at $17,500, with a $16 billion 24-hour trading volume. Bitcoin has had a minor negative pullback after failing to break above the $17,500 resistance level. It is now garnering immediate support as it approaches the $17,200.
A successful breakout of the $17,500 level might propel Bitcoin’s price to the next resistance level of $17,800. In the 4-hour time frame, Bitcoin created a doji candle, indicating indecision amount investors. Perhaps, they are waiting for a solid reason to determine the next move in the market.
On the bearish side, the $17,200 level is anticipated to operate as an immediate support, with a negative breakout of this point extending the downtrend till the next support level of $16,800 or $16,650.
The current price of Ethereum is $1,330, with a 24-hour trading volume of $5.6 billion. The ETH/USD pair is facing significant resistance around the $1,344 level on the 4-hour period, which is extended by a double top pattern.
If the $1,345 level is breached, the ETH price may move to the next resistance zone of $1,370. The closing of doji and spinning top candles above the 1,315 trading level supports the possibility of a significant rise.
On the downside, the ETH price may find support around $1,315, and a bearish break of that level may allow for additional selling to $1,275. Today’s bullish tendency is dominant, so search for purchasing chances.
Alternative Coins with Massive Growth Potential
Given the recent decline in the cryptocurrency market, a few alternative currencies are generating news.
The FightOut (FGHT) platform works similarly to a personal trainer, with the exception that workout time is paid in advance using the FGHT token. All activities are tracked and can be used to improve one’s metaverse avatar’s metrics.
The FGHT presale is going well, with almost $2.80 million raised thus far. The current selling price of 60.06 FGHT for $1 (FGHT can be purchased using ETH or USDT) is expected to rise as the sale progresses.
Dash 2 Trade (D2T)
Dash 2 Trade ecosystem’s developers announced that the D2T token, the platform’s native cryptocurrency, has successfully raised $15 million. Late in 2022, the digital asset’s presale began, and in recent months, it has been one of the market’s top-performing new coins. It looks like D2T is ready to go on to the next stage now that it has reached its presale goal.
The creators of Dash 2 Trade showed great foresight by securing listings on multiple exchanges before the coin even launched. On January 11 at 10 a.m. UTC, the cryptocurrency will be available on BitMart, Gate.io, LBank, and Uniswap.
C+Charge is working on a blockchain-based EV payments software that will, for the very first time, give carbon credits to EV drivers every time they charge. C+Charge envisions this as a method to level the playing field in the carbon credit market, which has traditionally been dominated by a few large corporations.
According to prognosticators, the project has potential since it will benefit from the anticipated significant development in the carbon credit market. Coherent Market Insights estimates the market to be worth over $2.4 trillion by 2027, up from its 2019 value of approximately $211.5 billion.
For C+Charge, the potential to earn carbon credits is a further incentive to speed up the already rapid shift toward EVs. The voluntary credit market (VCM) is expected to expand to $100 billion by 2030, and analysts believe that startups like C+Charge will play a significant role in this expansion. So far, the presale has so far raised $244,700.