AI altcoins are pumping — Is this the beginning of the next bull market? The Market Report

Published at: Jan. 10, 2023

This week on The Market Report, the resident experts at Cointelegraph discuss what artificial intelligence (AI) altcoins are, what their potential benefits are, how they work, and whether they can be a catalyst for a 2023 bull market.

We start off this week’s show with the latest news in the markets:

BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week on a promising footing, with BTC price action near one-month highs — but can it last? The move precedes a conspicuous macroeconomic week for crypto markets, with the December 2022 Consumer Price Index (CPI) print due from the United States. Jerome Powell, chair of the Federal Reserve, will also deliver a speech on the economy, with inflation on everyone’s radar. Inside the crypto sphere, FTX contagion continues, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency problems at subsidiary Genesis Trading. Our resident experts take a look at these factors and more as the second trading week of January gets underway.

Digital Currency Group under investigation by US authorities: Report

Crypto conglomerate Digital Currency Group, or DCG, is under investigation by the U.S. Department of Justice’s Eastern District of New York and the Securities and Exchange Commission, according to a Bloomberg report. 

The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm, Genesis Global Capital, according to the report, which cited people familiar with the matter. Prosecutors have already requested interviews and documents from both companies, while the SEC is running a similar early-stage inquiry.

We discuss what impact this could have on the crypto market. Could this put a damper on the current positive trend in the crypto space, which is finally starting to see some green?

5 sneaky tricks crypto phishing scammers used last year: SlowMist

We take a look at some of the most common phishing techniques crypto scammers used on victims in 2022 to help you be more aware and cautious when dealing in the space and hopefully save you from any possible scams or rug pulls in 2023.

Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the world of crypto.

Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Chasing the whale.

Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.

Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week, so make sure to tune in to find out which ones made the cut.

Do you have a question about a coin or topic not covered here? Don’t worry — join the YouTube chat room and write your questions there. The person with the most interesting comment or question will have a chance to win a one-month subscription to Markets pro worth $100.

The Market Report streams live every Tuesday at 12:00 pm ET (5:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.

Tags
Bitcoin
Altcoin Watch
Altcoin
Market Analysis
Federal Reserve
Related Posts
What else is moving as Bitcoin price inches toward a new ATH?
Bitcoin (BTC) is hot and clearly in the hands of bulls. Yes, eventually an exchange-traded fund (ETF) is coming and after that a $100,000, no $120,000, scratch that, $150,000 BTC price will be on the board. Blah, blah, blah. Anyone logging onto crypto Twitter is going to be bombarded with all this bullish drivel straight from the jump and that's great, we’re all happy Bitcoin is doing well. I've been a holder since early 2016 so of course, I’m happy. But, isn’t there more to crypto than just Bitcoin? Aren’t there other assets that are moving? Wouldn’t it be nice …
Bitcoin / Oct. 14, 2021
Analysts say this key metric suggests an altcoin season is at hand
Bitcoin’s (BTC) 65% recovery from sub-$29,500 on July 20 to a swing high of $48,200 on Aug. 14 took less than a month and helped bring fresh bullish momentum back to the crypto market and to traders who were dreading the prospect of another prolonged bear market. Currently, the BTC rally has stalled out near the $46,000 price level, and this phase of sideways trading is giving altcoins an opportunity to step forward. As shown in the chart below, the total market capitalization of the altcoin market has risen 80% since July 20. Meanwhile, the Bitcoin dominance rate is down …
Nft / Aug. 17, 2021
Terra (LUNA) at risk of 50% drop if bearish head and shoulders pattern plays out
Terra (LUNA) may fall to nearly $25 per token in the coming weeks as a head-and-shoulders (H&S) setup develops, indicating a 50% price drop, according to technical analysis shared by CRYPTOPIKK. H&S patterns appear when the price forms three peaks in a row, with the middle peak (called the "head") higher than the other two (left and right shoulders). All three peaks come to a top at a common price floor called the "neckline." Traders typically look to open a short position when the price breaks below the H&S neckline. However, some employ a "two-day" rule where they wait for …
Bitcoin Price / Jan. 28, 2022
Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls' dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. The worsening conditions are not exclusive to crypto markets. The price of WTI oil ceded 3.6% on Aug. 22, down 28% from the $122 peak seen on June 8. The United States treasuries 5-year yield, which bottomed on Aug. 1 at 2.61%, reverted the trend and is now trading at 3.16%. These are all signs that investors are feeling less confident …
Bitcoin / Aug. 22, 2022
Macroeconomic data points toward intensifying pain for crypto investors in 2023
Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November, the most important reason was the U.S. Federal Reserve policy of tapering and raising interest rates. Bitcoin’s price had dropped 50% from its peak to lows of $33,100 before the LUNA-UST crash, thanks to the Fed rate hikes. The first significant drop in Bitcoin’s price was due to growing market uncertainty around potential rate hike rumors in November …
Bitcoin / Jan. 6, 2023