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Bitcoin and Ethereum Prices Soar 20% - How High Can The Cryptocurrency Markets Go?



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Bitcoin and Ethereum prices have been on a wild ride lately, shooting up 20% in the last week alone. This surge has sparked speculation about how high the cryptocurrency markets can go. 

With more people turning to cryptocurrencies to safeguard their wealth and take advantage of opportunities, understanding the potential of these markets is essential. 

Could this recent rally be just the start of something bigger?

On January 15th, the market for cryptocurrencies was in positive territory. The total market capitalization was over 2 trillion dollars, which represented a 0.53% increase compared to the previous day. Significantly, trading volume declined by 16.66%, amounting to 84.28 billion dollars over 24 hours.

The amount of funds being held in Decentralized Finance (DeFi) has now risen to $12.76 billion, representing 15.14% of the total crypto market 24-hour trading activity. Similarly, the value of stablecoins is now reaching a staggering $67.57 billion, accounting for 80.17% of all crypto trades made over the past 24 hours.

One of the Largest US Institutions Teaches Bitcoin.

During the first Bitcoin course, the professor said there would be another course focusing on programming Bitcoin. Students will have an exciting opportunity to build a Bitcoin library from scratch and learn how it works.

Bitcoin and cryptocurrency courses are becoming increasingly popular at U.S. colleges, including the latest to join this trend: Texas A&M University with its 74,000+ students. Classroom adoption of these courses is on the rise due to their relevance in today's world. 

On January 13, Professor Korok Ray made an announcement that a course on Bitcoin protocols will be taught to students of the College of Engineering and Mays Business School at Texas A&M. The class will kick off on the 17th of January, when the spring semester starts.

Ray said in a four-part Twitter thread that "Programming Bitcoin" will go into detail about the Bitcoin Protocol and teach students how to build their own Bitcoin library from scratch.

This will definitely help promote Bitcoin and the adoption of cryptocurrencies, increasing their demand in the future.

Bitcoin Price.

Bitcoin is performing amazingly, having surged to $20,911. It has even breached the $20,500 support level. An astonishing $27 billion has been traded during the last 24 hours.

The bullish price increase has created a pathway for the uptrend to reach $21,000 or even further, with the potential of reaching its trading goal at $23,000.

Bitcoin currently has an immediate support level of $20,500-$20,000 and the RSI & MACD indicators are indicating an overbought market. 

Therefore, it is essential to observe if BTC is capable of breaking through a resistance level of $21,500 since any failure to do so could result in its price going down. On the lower side, Bitcoin's immediate support prevails at $20,000. 

Ethereum Price.

Ethereum's price reached $1,559 with a 24-hour trading volume of $14 billion. This significant rise past the $1,500 key resistance shows that ETH/USD pair is on its way to breaching the next barrier level of $1,650.

At this time, the critical support mark for Ethereum currently stands at $1,500. If it closes above this price point, we can expect to see a surge in its value. If it reaches beyond $1,650 then the price of ETH might move up to the next resistance level of $1,700.

Although there...

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