Bitcoin and Ethereum Surge Today

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Bitcoin has surged closer to $18k. At the time of writing, it is up to 3.73% in the last 24 hours. At the same time, the Ethereum price action follows the same graph. Having risen above $13k, the world’s leading altcoin has left the crowd wondering about the reason behind the concurrent growth of Bitcoin and Ethereum.

Bitcoin and Ethereum Price Action Shows Signs of Strengthening Buyers

Bitcoin has been “stepping” up closer to the pre-FTX crash high of $12k since the last week of November. The candle chart shows that BTC rebounded just as it hit the $15.4k mark. From that point forth, the token painted long greens and short reds. The only bearish scenario that it has gone through happened in the last week of November, which also didn’t hold because of the emergence of a Bullish engulfing pattern.

Then came the first week of December when the Bitcoin price accumulated in the $17k range. Three slow trading days followed soon after. And for the past three days, Bitcoin has been trading in the green zones.

In the last 24 hours, Bitcoin has achieved a minor-but-significant 3.87% rise. The current RSI of 59.38 puts Bitcoin close to the overbought zones. Additionally, Bitcoin has been moving significantly above its 20-day moving average and seems to have found support at $17.539k.

Following Bitcoin trends closely in Ethereum, after dropping to $1.1k in the second last week of November, has gone on a rebound journey. Trading charts show multiple bullish engulfing patterns. At the time of writing, Ethereum has risen 4.19% in the last 24 hours. Experts believe the uptrend may sustain as the crowd rallies to close 2022 at a high point.

The Real Reason Behind the Recent Rise in the Bitcoin and Ethereum Bullish Price Action – The Arrest of FTX Founder

2022 has been a prolonged year for crypto winter. If the LUNC crash wasn’t enough, the FTX crash was the last nail in the coffin the markets needed to seal the current bearish sentiments. That said, as the year draws close, markets are showing signs of rallying so the next year can start on a high note.

And the biggest motivator to have pushed the crypto enthusiasts to push ETH and BTC price once again might be the arrest of Sam Bankman Fried.

The disgraced ex-CEO world’s second-largest cryptocurrency exchange, FTX, has been arrested in the Bahamas after the criminal charges filed by the US. At the time of writing, Sam has been put in a Bahamas prison waiting for extradition by the US authorities.

Why did it take so long to Arrest SBF?

While the crowd is wondering why it took so long for the Department of Justice to take notice, as the calls for its arrest were high from the very start, DOJ was, in fact, waiting for SBF to implicate himself. The media-savvy ex-founder has been on literally every news outlet and Twitter space after the FTX crash to clarify his position.

And mainstream news channels were more than happy to give him a platform, claiming that “it happens”.

However, in his recent interview with YouTuber and investigator Coffeezilla about how FTX strictly specified in its terms and conditions that the exchange will not use people’s savings, SBF accidentally spilled that all the holdings, including those that are not in the margin trading accounts, were in use by FTX. Many believe that this accidental spill might have been the reason for SBF’s recent imprisonment.

Many believe that this imprisonment may have resulted in the cryptocurrency crowd once again starting to move after seeing some justice done for those who lost all their assets on FTX.

The Volatility is Not Over Yet

While the latest rise may give many the first signs that the market is recovering, it is important to remember that the volatility is far from over. Cryptocurrencies are still unstable, and other than FTX, the Fed rate will always have a big role to play in moving the crypto markets.

Therefore, it is time to see cryptocurrencies as more than just tradeable assets. 2022 has seen the emergence of multiple projects that provide many long-term upsides.

Dash 2 Trade

There were many who avoided their funds from collapsing post-FTX crash because of the information they had. The issue is that access to such high-quality info requires tools that are not within reach of ordinary traders. Addressing this issue is Dash 2 Trade.

Dash 2 Trade is a crypto intel and analytics platform giving traders all the tools they need to make the most out of crypto price movements. Using the native token, D2T, as the mode of payment for its subscription service, Dash 2 Trade is redefining accessibility.

The platform offers multiple pools to make the most of crypto trades, including a bespoke presale crypt assessment tool. It uses 12 different metrics to assess the quality of presale cryptocurrencies, including team experience and tokenomics. Dash 2 trade has revealed the beta version of this presale dashboard. Furthermore, the entire platform may drop soon.

Dash 2 trade has raised more than $9.7 million in its presale stage and is getting closer to its $13.4 million target. Visit dash2trade.com to participate in the presale to gain access to guaranteed gains that will come from CEX and DEX listing.

Dash 2 Trade is already poised to release on Changelly Pro once the presale concludes, with more listings to follow soon.

IMPT

Making green decisions easier daily is IMPT, the greenest cryptocurrency project of this year. Short for Impact, IMPT is introducing a unique marketplace that will play host to ESG brands and tokenized carbon credits. Buyers interacting with the platform to buy ESG products will get IMPT in return. These tokens can then be swapped for tokenized carbon credits and put on the platform for sale. ESG brands can then directly buy these carbon credits.

Those who choose to retire the carbon credits will earn artwork.

The uniqueness of the project, coupled with its green intentions, has made IMPT presale a success. The presale closed on 11th December 2022, and IMPT raised upwards of $20.5 million. Listing is coming tomorrow on major CEXs and DEXs like LBank, Changelly, and Uniswap. IMPT CEO has also stated that more than 7 more listings have been planned for next year.

While the presale opportunity is gone, IEO is still here. IMPT will open for trade on LBank on the 14th of this month at 10:00 UST. Visit impt.io to learn more about his project and claim your tokens before the listing date.

Calvaria (RIA)

Calvaria is a P2E project that aims to board non-crypto gamers with its unique F2P mode. It has great tokenomics and underlying DeFi mechanics that will likely entice the next generation of Web 3 games.

Calvaria is another presale project of 2022 that has attracted a large crowd. This P2E Crypto has raised upwards of $2.4 million and is 79% into the 5th stage of its presale. Visit calvaria.io to participate in this early-moving opportunity.

With Bitcoin and Ethereum rising, the crowd is now focusing on what’s next. Explore these novel cryptocurrency projects to become part of the next generation of utility-based crypto assets. Stay tuned with Insidebitcoin as we offer you daily updates about the daily happenings of the markets.

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