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How much are Bitcoin, Ethereum and other cryptocurrencies trading this Tuesday, January 3, 2023?

How much are Bitcoin, Ethereum and other cryptocurrencies trading this Tuesday, January 3, 2023?

Naeem Aslam, chief market analyst at AvaTrade, noted that the leading cryptocurrency started the year “on a positive note.” “There are many in the market who believe that the bear cycle is not yet fully complete and the price could move further towards $10,000.Aslam points out.

However, he stresses, “there is more pessimism than ever in the price action,” which means that “there is limited downside for the bitcoin price.” “We are likely to see the price go up. Traders believe that bitcoin will easily retest the $50,000 level, if not its all-time high, as few bears remain now,” he says.

“The community will not be sad to see the end of 2022, who can blame them”quips Craig Erlam, a senior market analyst at Oanda, noting that bitcoin “has been fairly stable recently, hovering in the $16,000-$17,000 range in recent weeks.”

“This may be a relief for the cryptocurrency community after a difficult few months. The new year certainly has a lot to offer cryptocurrencies, but in the short term, the community only hopes that there are no new scandals that scare away investors and to return to focus on innovation and adoption, “adds this expert, al while stressing that “it can be a lot to ask in the short term, especially if other market factors are not favourable”.

What about the rest of the market?

In the rest of the market, calm and mixed sign. Binance coin (BNB) yielded 0.5%, while ripple (XRP) rises 0.79%. For his part, he dogecoin (DOGE) decreased by 0.6%, the same as the cardano (ADA)while polygon (MATIC) Y Litecoin (LTC) they rebound well by 0.5%. The sunny (SUN) continues to rise and registers a rise of 5.5% in the last 24 hours.

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Source: Ambito

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