The cryptocurrency market digest (BTC, USDT). Overview for 16.01.2023


On Monday, the leading crypto has grown to 21,150 USD. Growth over the week amounted to 22.64%, the main part of this happening over the last four days.

Since the beginning of the year, the BTC has grown by more than 28.00% - and this has happened on a low-liquid market.

Buyers went through all the necessary resistance levels and got into a most important range. The goal this week is to break through 22,500 USD, after which the bulls will head for 25,000 USD.

For now, there are two most important points to keep an eye on. The first one is the halving in the BTC network, while the second one is the meeting of the Federal Reserve System at the beginning of February, followed by a press conference delivered by the chairman of the Fed Jerome Powell.

Capitalisation of the crypto market on Monday has grown to 995.474 billion USD. The long-desired trillion is close. The BTC share of the market has reached 41%, the ETH - 19.3%.

Tether got ahead of MasterCard and VISA

By the end of 2022, the number of transactions at the USDT issuer Tether exceeded those of the main payment systems VISA and MasterCard. The network totally hosted 18.2 trillion USD. Mass interest to stablecoins remains around.

The Indian CB stood against crypto

The management of the Indian Central Bank thinks that crypto trading must be banned altogether. By their view, the very definition of crypto is vague, while the crypto market cannot be legalised.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.