Bitcoin Price and Ethereum Prediction – Casper Pumps Over 27%
On October 19, Bitcoin price remained in a narrow trading range of $19,000 to $19,400, and the breakout of this range will determine future price action. Ethereum, on the other hand, has dropped more than 1% to $1,302 during the early Asian session.
Major cryptocurrencies were trading in the negative zone today, with the global crypto market capitalization falling 0.7% to $927 billion on the previous day. In contrast, the total crypto market volume grew over 7% in the last 24 hours to $0.7 million.
DeFi had a total volume of $3.6 billion, while the total volume of stablecoins was $50 billion.
The top performers in the Asian session were Aave (AAVE), Monero (XMR), and Maker (MKR). The Aave (AAVE) gain more than 4% to $82, while XMR price has risen by over 1.5% to $146. Moreover, MKR's price rose over 2% to $1,111.
The EthereumPoW (ETHW) price has fallen by more than 11% in the last 24 hours to $6.2. The price of Quant has dropped more than 12% to around $172.
Here are some of the noteworthy events in the crypto news section:
Despite a proposal to ban crypto mining being shot down by the European Union earlier this year, further rules may soon be enacted to lessen the industry's negative environmental effects.
Bitcoin's energy usage has increased by 41% YoY, despite significant strides in energy efficiency and a more diverse and sustainable energy mix. Moreover, there's a concern that this trend may lead to a crackdown on mining by government agencies.
This information was compiled from a study released in the third quarter of 2022 by the Bitcoin Mining Council (BMC), an organization that boasts 51 of the world's major Bitcoin mining firms as members.
According to the BMC, Bitcoin mining uses 0.16% of world energy production,
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