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Cryptocurrencies Price Prediction: Bitcoin, Celsius and Luna Classic – European Wrap 17 January

Cryptocurrencies Price Prediction: Bitcoin, Celsius and Luna Classic – European Wrap 17 January
FXStreet TeamFXStreet TeamFXStreet

Five signs that hint this Bitcoin bear market rally could end soon

The 30-day MVRV has hit levels last seen when BTC hit $66,000 in October 2021, indicating that a large number of investors are in profit.

BTC/USDT 3-day chart

Celsius Network ponzi scheme contagion spread to Tether’s parent company, USDT drops below $1 peg

Celsius Network, a bankrupt crypto lender accused of running “ponzi schemes” received funds from iFinex Inc., the firm that owns and operates cryptocurrency exchange Bitfinex and stablecoin Tether (USDT). The filing lists iFinex -  registered in the British Virgin Islands - as a creditor of a Celsius Network shell company. 

Celsius Network bankruptcy filing

Luna Classic could yield massive gains for holders, if Terra community does this

An independent Terra development community, TerraCVita has raised $2 million to fund new DeFi projects on its ecosystem. Terra, which has suffered contagion after the collapse of crypto broker FTX, could see a recovery in its native token Luna Classic’s price as a result of the new cash injection in DeFi projects in the ecosystem.

LUNC/USDT price chart

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