πŸ“ƒ Sep 19, 2024 – USA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Trending Up

Over the past 24 hours, the cryptocurrency market has experienced a positive trend, with an overall increase in prices and market capitalization. Bitcoin, the leading cryptocurrency, has shown a significant uptrend, reaching a price of $63,252.14 and a capitalization of $1,223,444,213,692. Ethereum has also seen positive growth, with a price of $2,433.80 and a market capitalization of $285,924,881,208.

This upward trend can be attributed to several factors. Firstly, the recent announcement of Commerzbank partnering with Deutsche BΓΆrse to offer Bitcoin and Ethereum trading has instilled confidence and attracted more interest from traditional financial institutions. Additionally, the news of Hemi Labs securing $15 million in funding to build a Bitcoin-Ethereum supernetwork has sparked optimism among developers and users.

Furthermore, there are optimistic predictions for Ethereum, as analyst Benjamin Cowen suggests that it may be bottoming out against Bitcoin. This sentiment is supported by experts who foresee Ethereum surpassing the $3,000 mark in the coming autumn. Additionally, the acceptance of Bitcoin Lightning as a payment method by the Louisiana state government showcases a growing adoption of cryptocurrencies in various sectors.

Considering the evidence of positive news and the confidence level in these developments, it is likely that the current trend of growth will continue over the next 8 hours. However, it is important to monitor market dynamics and any potential negative news or regulatory actions that could impact the market.

What is important

The current state of the cryptocurrency market is characterized by an upward trend in prices and market capitalization. Bitcoin and Ethereum, the two major cryptocurrencies, have both shown significant growth in terms of price and market dominance. The recent partnerships between Commerzbank and Deutsche BΓΆrse, as well as Hemi Labs securing funding for a Bitcoin-Ethereum supernetwork, indicate increasing interest and investment in the crypto space.

Moreover, the acceptance of cryptocurrencies like Bitcoin Lightning by the Louisiana state government highlights the growing adoption and mainstream recognition of digital currencies. These positive developments contribute to the overall positive sentiment surrounding cryptocurrencies.

It is important to note that the cryptocurrency market is highly volatile and subject to various factors such as regulatory changes and market sentiment. Investors should exercise caution and conduct thorough research before making any investment decisions.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Commerzbank Taps Deutsche Borse Subsidiary To Offer Bitcoin and Ethereum Trading– Commerzbank has partnered with a subsidiary of Deutsche BΓΆrse to offer Bitcoin and Ethereum trading.
  2. Hemi Labs Secures $15 Million In Funding To Build A Bitcoin-Ethereum Β΄Supernetwork´– Hemi Labs plans to build a Bitcoin-Ethereum supernetwork.
  3. Β΄ItΒ΄s Almost OverΒ΄ – Analyst Benjamin Cowen Predicts Ethereum Bottoming Out Against Bitcoin– Analyst Benjamin Cowen predicts Ethereum bottoming out against Bitcoin.
  4. ETH Is The Key To The Decentralized Ethereum Ecosystem, Market Expert Claims– ETH is an important component of the Ethereum ecosystem.
  5. Commerzbank to Offer Bitcoin, Ether Trading Through Crypto Finance– Commerzbank is set to offer bitcoin and ether trading through Crypto Finance.

Factors DrivingΒ the Growth – Market Sentiment

In the past 24 hours, the most mentioned positive sentiment keywords in the news related to the cryptocurrency market are ‘bitcoin,’ ‘ethereum,’ ‘solana,’ and ‘crypto.’ These keywords reflect the positive developments and growing interest in cryptocurrencies. On the other hand, the most mentioned negative sentiment keywords include ‘cryptocurrency market,’ ‘ethereum,’ ‘sec,’ and ‘bitcoin,’ which may refer to concerns or challenges faced by these specific entities. It is important to consider both positive and negative keywords in order to gain a comprehensive understanding of the sentiment and dynamics in the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
40bitcoin
11ethereum
8cryptocurrency market
8solana
6crypto
5bitcoin price
5federal reserve
5louisiana
5rate cut
4$62k

Negative Terms – Sentiment Analysis

OccurrencesKeyword
5cryptocurrency market
5ethereum
5sec
4bitcoin
3bankruptcy
3cryptocurrency
3federal reserve
3hacked
3rari capital
3silvergate capital

Crypto Investor Fear & Greed Index

Looking at the ‘Fear and Greed Indicators’ table, we observe a mix of fear and greed sentiment in the cryptocurrency market. The values range from 33pt to 73pt, indicating varying levels of market sentiment. While some indicators point towards fear, others lean towards greed. It is crucial to consider the specific indicators and their associated values to gauge the overall market sentiment accurately. Factors such as market conditions, news events, and investor sentiment can influence these indicators and impact market behavior.

DateValueVariationSource
2024-09-19 00:00:0049pt4ptAlternative.me
2024-09-18 00:00:0033pt0ptAlternative.me
2024-09-18 00:00:0045pt12ptAlternative.me
2024-09-17 00:00:0033pt0ptAlternative.me
2024-09-19 00:00:0045pt0ptBinance.com
2024-09-19 00:00:0049pt4ptBinance.com
2024-09-18 00:00:0033pt0ptBinance.com
2024-09-18 00:00:0045pt12ptBinance.com
2024-09-17 00:00:0033pt0ptBinance.com
2024-09-19 00:00:0049pt4ptBitDegree.org
2024-09-18 10:00:0045pt12ptBitDegree.org
2024-09-18 00:00:0033pt0ptBitDegree.org
2024-09-17 00:00:0033pt0ptBitDegree.org
2024-09-19 08:00:0073pt1ptBtcTools.io
2024-09-19 00:00:0072pt3ptBtcTools.io
2024-09-18 08:00:0069pt1ptBtcTools.io
2024-09-18 00:00:0068pt-1ptBtcTools.io
2024-09-17 16:00:0069pt4ptBtcTools.io
2024-09-17 08:00:0065pt2ptBtcTools.io
2024-09-17 00:00:0063pt1ptBtcTools.io
2024-09-16 16:00:0062pt0ptBtcTools.io
2024-09-19 00:00:0049pt4ptCoinstats.app
2024-09-18 00:00:0045pt12ptCoinstats.app
2024-09-17 00:00:0033pt0ptCoinstats.app

Bitcoin: Active Addresses

Examining the ‘Bitcoin Address Indicators’ table, we can see that the total number of addresses and their variations are relatively stable over the given time period. However, it’s worth noting that the number of active addresses and addresses with higher balances has experienced slight fluctuations. These indicators provide insights into the level of activity and distribution of Bitcoin addresses in the market, indicating user engagement and potential trends in wealth accumulation or distribution.

DateAddressesVariationIndicatorSource
2024-09-19 08:00:001,325,769,2500.00%Total Addressesbitaps.com
2024-09-19 08:00:001,273,263,0840.00%Zero Balance Addressesbitaps.com
2024-09-19 08:00:00720,0210.18%Bitcoin Active Addressesbtc.com
2024-09-19 08:00:00540,5640.00%Addresses with over 0bitaps.com
2024-09-19 08:00:00219,3850.00%Addresses with over 0.0000001bitaps.com
2024-09-19 08:00:003,775,6500.00%Addresses with over 0.000001bitaps.com
2024-09-19 08:00:0010,631,2460.00%Addresses with over 0.00001bitaps.com
2024-09-19 08:00:0013,002,9590.01%Addresses with over 0.0001bitaps.com
2024-09-19 08:00:0011,646,8100.00%Addresses with over 0.001bitaps.com
2024-09-19 08:00:008,103,744-0.01%Addresses with over 0.01bitaps.com
2024-09-19 08:00:003,571,019-0.02%Addresses with over 0.1bitaps.com
2024-09-19 08:00:00861,4800.00%Addresses with over 1bitaps.com
2024-09-19 08:00:00137,1820.00%Addresses with over 10bitaps.com
2024-09-19 08:00:0014,0510.04%Addresses with over 100bitaps.com
2024-09-19 08:00:001,9730.00%Addresses with over 1,000bitaps.com
2024-09-19 08:00:00990.00%Addresses with over 10,000bitaps.com
2024-09-19 08:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

Analyzing the ‘Economic Events’ table, we can identify several noteworthy events that may have an impact on the cryptocurrency market. These events include interest rate decisions, economic indicators, and speeches from central bank officials. While certain events may directly affect specific currencies or regions, others can have a broader influence on global financial markets. It is essential to monitor these events and their potential implications for the cryptocurrency market.

DateImpactEvent
2024-09-19 23:30:00ModerateJPY – National CPI (MoM) (Aug)
2024-09-19 23:30:00ModerateJPY – National Core CPI (YoY) (Aug)
2024-09-19 20:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-09-19 17:00:00ModerateUSD – 10-Year TIPS Auction
2024-09-19 14:40:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-09-19 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-09-19 14:00:00ModerateUSD – US Leading Index (MoM) (Aug)
2024-09-19 14:00:00ModerateUSD – Existing Home Sales (MoM) (Aug)
2024-09-19 14:00:00HighUSD – Existing Home Sales (Aug)
2024-09-19 14:00:00HighExisting Home Sales Year over Year
2024-09-19 14:00:00HighExisting Home Sales Annual Rate
2024-09-19 14:00:00HighExisting Home Sales Month over Month
2024-09-19 13:00:00ModerateZAR – Interest Rate Decision (Sep)
2024-09-19 12:30:00ModerateUSD – Philly Fed Employment (Sep)
2024-09-19 12:30:00HighUSD – Philadelphia Fed Manufacturing Index (Sep)
2024-09-19 12:30:00HighUSD – Initial Jobless Claims
2024-09-19 12:30:00ModerateUSD – Current Account (Q2)
2024-09-19 12:30:00ModerateUSD – Continuing Jobless Claims
2024-09-19 12:30:00HighJobless Claims Initial Claims – Change
2024-09-19 12:30:00HighJobless Claims Initial Claims – Level
2024-09-19 12:30:00ModeratePhiladelphia Fed Manufacturing Index Index
2024-09-19 12:30:00HighJobless Claims 4-Week Moving Average
2024-09-19 11:30:00ModerateEUR – German Buba President Nagel Speaks
2024-09-19 11:30:00ModerateGBP – BOE Inflation Letter
2024-09-19 11:00:00ModerateGBP – BoE MPC Meeting Minutes
2024-09-19 11:00:00HighGBP – BoE Interest Rate Decision (Sep)
2024-09-19 11:00:00ModerateGBP – BoE MPC vote unchanged (Sep)
2024-09-19 11:00:00ModerateGBP – BoE MPC vote hike (Sep)
2024-09-19 11:00:00ModerateGBP – BoE MPC vote cut (Sep)
2024-09-19 09:00:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-09-19 07:30:00ModerateEUR – German Buba Balz Speaks
2024-09-19 01:30:00ModerateAUD – Unemployment Rate (Aug)
2024-09-19 01:30:00ModerateAUD – Full Employment Change (Aug)
2024-09-19 01:30:00ModerateAUD – Employment Change (Aug)
2024-09-18 22:45:00ModerateNZD – GDP (QoQ) (Q2)
2024-09-18 22:45:00ModerateNZD – Current Account (YoY) (Q2)
2024-09-18 21:30:00ModerateBRL – Interest Rate Decision
2024-09-18 20:00:00ModerateUSD – TIC Net Long-Term Transactions (Jul)
2024-09-18 20:00:00ModerateTreasury International Capital Net Long-Term Securities Transactions
2024-09-18 18:30:00HighUSD – FOMC Press Conference
2024-09-18 18:00:00HighUSD – Fed Interest Rate Decision
2024-09-18 18:00:00HighUSD – FOMC Statement
2024-09-18 18:00:00HighUSD – FOMC Economic Projections
2024-09-18 18:00:00ModerateUSD – Interest Rate Projection – Longer (Q3)
2024-09-18 18:00:00ModerateUSD – Interest Rate Projection – Current (Q3)
2024-09-18 18:00:00ModerateUSD – Interest Rate Projection – 3rd Yr (Q1)
2024-09-18 18:00:00ModerateUSD – Interest Rate Projection – 2nd Yr (Q3)
2024-09-18 18:00:00ModerateUSD – Interest Rate Projection – 1st Yr (Q3)
2024-09-18 14:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-09-18 14:30:00HighUSD – Crude Oil Inventories
2024-09-18 14:30:00ModerateUSD – Atlanta Fed GDPNow (Q3)
2024-09-18 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-09-18 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-09-18 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W

Crypto Assets Prices

Looking at the ‘Prices’ table, we can observe recent price movements in major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin. These price variations indicate market volatility and fluctuations in investor sentiment. However, the overall trend is positive, with prices showing an upward trajectory. It is important to note that cryptocurrency prices are influenced by numerous factors, including market demand, regulatory developments, and macroeconomic conditions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-09-19 14:22:00Bitcoin63,252.146.15%6.337.83%7.163.77%
2024-09-18 14:22:00Bitcoin59,362.83-1.09%-1.50-5.68%3.39-0.99%
2024-09-17 14:22:00Bitcoin60,009.993.11%4.187.72%4.390.29%
2024-09-19 14:22:00Ethereum2,433.805.81%5.868.15%7.202.09%
2024-09-18 14:22:00Ethereum2,292.46-2.34%-2.29-5.27%5.111.39%
2024-09-17 14:22:00Ethereum2,346.072.71%2.988.34%3.72-3.52%
2024-09-19 14:22:00Binance Coin567.104.69%4.735.88%5.872.91%
2024-09-18 14:22:00Binance Coin540.50-1.30%-1.15-2.65%2.96-0.97%
2024-09-17 14:22:00Binance Coin547.500.86%1.504.57%3.93-0.03%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and trading volumes of major cryptocurrencies. The data indicates an overall increase in market capitalization and trading volumes, reflecting growing investor interest and market activity. These trends suggest a positive sentiment and potential market growth.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-09-19 00:00:00Binance Coin81,871,618,3312.77%662,269,034-14.13%
2024-09-18 00:00:00Binance Coin79,668,548,0752.41%771,207,213-32.55%
2024-09-17 00:00:00Binance Coin77,796,992,721-3.68%1,143,320,91188.74%
2024-09-19 00:00:00Bitcoin1,223,444,213,6922.67%36,625,331,745-5.18%
2024-09-18 00:00:00Bitcoin1,191,603,646,9443.68%38,626,964,69130.81%
2024-09-17 00:00:00Bitcoin1,149,323,035,757-1.74%29,529,409,848116.44%
2024-09-19 00:00:00Ethereum285,924,881,2081.48%14,911,727,2023.46%
2024-09-18 00:00:00Ethereum281,768,293,0972.05%14,412,500,425-11.39%
2024-09-17 00:00:00Ethereum276,116,638,715-1.20%16,264,714,60873.59%
2024-09-19 00:00:00Tether119,156,735,0600.36%50,106,785,07410.07%
2024-09-18 00:00:00Tether118,731,731,7870.05%45,522,764,7428.90%
2024-09-17 00:00:00Tether118,673,806,683-0.12%41,803,580,99283.41%

Cryptocurrency Exchanges Volume and Variation

Examining the ‘Exchanges’ table, we can observe the trading volumes and variations across various cryptocurrency exchanges. The data highlights the significant role of exchanges in facilitating trading activity and providing liquidity to the market. This information can be useful for investors and traders to identify popular exchanges and gauge market sentiment.

DateExchangeVolumeVariation
2024-09-19 00:00:00Binance239,5739.01%
2024-09-18 00:00:00Binance219,7743.35%
2024-09-17 00:00:00Binance212,64470.04%
2024-09-19 00:00:00Binance US12910.26%
2024-09-18 00:00:00Binance US11720.62%
2024-09-17 00:00:00Binance US970.00%
2024-09-19 00:00:00Bitfinex2,720-1.38%
2024-09-18 00:00:00Bitfinex2,75817.31%
2024-09-17 00:00:00Bitfinex2,351-6.26%
2024-09-19 00:00:00Bybit85,27310.84%
2024-09-18 00:00:00Bybit76,9346.96%
2024-09-17 00:00:00Bybit71,92861.63%
2024-09-19 00:00:00Coinbase29,553173,741.18%
2024-09-18 00:00:00Coinbase170.00%
2024-09-17 00:00:00Coinbase170.00%
2024-09-19 00:00:00Crypto.com109,61052.11%
2024-09-18 00:00:00Crypto.com72,062-11.25%
2024-09-17 00:00:00Crypto.com81,20065.15%
2024-09-19 00:00:00Gate.io28,92928.81%
2024-09-18 00:00:00Gate.io22,459-6.39%
2024-09-17 00:00:00Gate.io23,99346.33%
2024-09-19 00:00:00Kraken12,42811.42%
2024-09-18 00:00:00Kraken11,15415.26%
2024-09-17 00:00:00Kraken9,677104.89%
2024-09-19 00:00:00KuCoin11,38013.41%
2024-09-18 00:00:00KuCoin10,03416.34%
2024-09-17 00:00:00KuCoin8,62527.49%
2024-09-19 00:00:00OKX33,38115.32%
2024-09-18 00:00:00OKX28,9465.57%
2024-09-17 00:00:00OKX27,41961.66%

Mining – Blockchain Technology

The ‘Mining’ table showcases key metrics related to cryptocurrency mining, including difficulty, mined blocks, block rewards, and hash rate. These indicators provide insights into the computational mining capacity, network security, and overall health of the mining ecosystem. Monitoring these metrics can help assess the state of the mining industry and its potential impact on the cryptocurrency market.

Item2024-09-192024-09-182024-09-172024-09-162024-09-152024-09-142024-09-13
Difficulty92.67T92.67T92.67T92.67T92.67T92.67T92.67T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks861.91K861.77K861.62K861.49K861.34K861.20K861.08K
Blocks Variation0.02%0.02%0.01%0.02%0.02%0.01%0.02%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB631.78B709.49B576.01B691.01B631.78B571.87B700.74B
Hash Rate GB Variation-10.95%23.17%-16.64%9.38%10.48%-18.39%40.85%

Conclusion

In summary, the cryptocurrency market has shown a positive trend in the past 24 hours, with notable price increases and market capitalization growth. The announcement of new partnerships and funding, alongside the growing adoption of cryptocurrencies in various sectors, has contributed to a positive market sentiment.

However, it is important to remain cautious and monitor market dynamics, as the cryptocurrency market is highly volatile and subject to regulatory changes and external factors. Investors should conduct thorough research and exercise prudent decision-making when engaging in cryptocurrency investments.

So What

The current state of the cryptocurrency market has practical implications for investors and market participants. The positive trend and growing interest in cryptocurrencies offer potential opportunities for investors seeking exposure to the digital asset space. However, it is crucial to exercise caution and consider the inherent risks associated with investing in a volatile and evolving market. It is recommended that individuals conduct thorough research, diversify their portfolios, and seek professional advice to navigate the cryptocurrency market effectively.

What next?

Looking ahead, the cryptocurrency market is expected to continue its upward trend in the near future. The positive developments, institutional partnerships, and growing acceptance of cryptocurrencies indicate a favorable outlook. However, it is essential to remain vigilant and monitor both market and regulatory developments. Factors such as institutional adoption, regulatory frameworks, and global economic conditions will likely influence the future trajectory of the cryptocurrency market.

Disclaimer – Informational Content, Not Investment Advice

Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.

About the Author: CryptoTrends Team

With over five years of diving deep into cryptocurrencies and blockchain, we’ve cemented our position as experts in the digital currency realm. Our team has not only contributed to a multitude of pioneering blockchain projects but has also enlightened thousands with our incisive articles CryptoTrends. Always at the cutting edge of crypto trends, we proudly collaborate with CryptoBotStation, ensuring our readers stay one step ahead in this dynamic space.

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