iGaming Crypto Watch (Jan 2023)

Stay up to date once a month with the latest Gaming Crypto Watch January 2023 update covering BTC, BCH, ETH, DOGE, XRP, TRX, LTC & USDT! (Photo by Kanchanara on Unsplash)

Welcome to the first monthly edition of the iGaming Crypto Watch update!.

While all the coins featured in today’s report have had a great run in the last month, some are starting to pull back, ever so slightly… Bitcoin has led the charge and enjoyed substantial gains in the last couple of weeks but has stalled in the last 5 days.

There are several market factors that come into play and it appears that the players are waiting to see what happens.

The latest U.S. economic data stated that GDP was up slightly, a sign that the economy is cooling and jobless claims indicate the economy is not cooling. Also, the US Dollar Index slide to a 7-month low and it could mean the crypto sector could capitalize on this scenario. Crypto typically rises when the dollar drops.

This could be a boon for cryptocurrency investors as many new advanced technologies enter the crypto space at low market entry prices and the opportunity to diversify their portfolios.

iGaming Crypto Watch January 2023: This is the new version of the monthly crypto report catching up how crypto prices are performing. What tends to happen is when cryptos perform so does the crypto gaming market. Also, if you would like to rewind to last month’s report, check out the Crypto Price Index (Wk 51 2022) here.

iGaming Crypto Watch January 2023

Bitcoin (BTC) -Bitcoin led the crypto market to monthly highs and was up 15.5% in the last 2 weeks. This huge increase could be short lived as the market has yet to react to the U.S. debt limit issue. The U.S. Federal Reserve has been taking liquidity out of the markets, while the U.S. Treasury has got rid of its cash… to hopefully negate the negative effects and stabilize the market. Analysts believe this will constrain liquidity in the market and cause an economic downturn… which could see excess volatility in Q2 in 2023. Bitcoin is currently trading at $23,013 USD.

Bitcoin Price Watch
  • Current: $ 23,013
  • 1 Jan 2023: $ 16,606
  • Yearly Gain/Loss: +$ 6,407

Bitcash (BCH – While the price of BTC is much higher than BCH, some analysts are speculating that may hit a high of $170 USD in 2023, but who really knows? It could just as easily go south! BCH is currently trading at $135.14 USD and is up 8.5% in the last couple of weeks. This prediction is based on optimism in the market surrounding the introduction of new crypto projects that are similar in nature to BCH.

Bitcoin Price Watch
  • Current: $ 135.14
  • 1 Jan 2023: $ 96.77
  • Yearly Gain/Loss: +$ 38.37

Litecoin (LTC) – Litecoin, the first altcoin, continues to buck the trend in the market. It was down around 17% for the calendar year, where its peers, ETH and BTC were down 34% and 37% respectively. A recent increase in volume in LTC indicates that the market is bullish on this coin. It is not an exciting coin but like the tortoise, slow and steady generally wins the race and markets analysts are positive on this cryptocurrency. LTC is down only slightly today, after a great run in the last month with a 27% gain, currently trading at $87.41 USD.

Litecoin Price Watch
  • Current: $ $87.41
  • 1 Jan 2023: $ 70.89
  • Yearly Gain/Loss: +$ 16.52

TRON (TRX) – The Tron network, which has seen its market cap grow to over $5 billion since 2017, continues to make moderate gains. Tron has emerged out of the doldrums and is up 15% in the last 2 weeks. Market analysts believe that this cryptocurrency is on a steady upward trajectory as it continues to develop decentralized apps (dApps) and buying assets (BitTorrent). TRX is currently trading at $0.063 USD and is still a long way off of its all-time high of $0.17 USD.

TRON Price Watch
  • Current: $ 0.063
  • 1 Jan 2023: $0.055
  • Yearly Gain/Loss: +$ 0.008

Ripple (XRP) – Ripple bulls are confident that this coin will rise another 9% as the stock has been bullish since December. Punters believe that their court case with the SEC, will be in favor of XRP and that its recent gains will continue. The stock is currently trading at $0.41 USD but is seeing resistance at this level.

XRP Price Watch
  • Current: $ 0.41
  • 1 Jan 2023: $ 0.34
  • Yearly Gain/Loss: -+$ 0.07

Ethereum (ETH) – Usually when a large amounts of crypto are transferred, the price is driven down. A couple of days ago, the founder of Tron, transferred $15m USD of ETH to another exchange but ETH resisted the selling pressure. Ethereum has also experienced impressive trading volumes recently and could be a sign that investors are also bullish on this coin… or is it a bull trap?? The coin gained 15% in the last 7 days and is currently trading at $1,579.95 USD.

Ethereum Price Watch
  • Current: $ 1,579.95
  • 1 Jan 2023: $ 1,195.51
  • Yearly Gain/Loss: +$ 384.44

Dogecoin (USDT) – Dogecoin price today is US$0.08816. It is down over 5% for the week, but at the time of writing this report, it has gained 2.58% over 24 hours. Over the past week the crypto was up to $0.09317, however, its low low for the week was far below this at $0.08002. At least, that is a low in terms of percentages being 10% of its high. With all that being said, DOGE is up from it year starting price of $0.07045 and is still showing signs of growth. However, with how volatile cryptos are, who knows what is next in store – it’s a pure gamble either way!

Dogecoin Cash Price Watch
  • Current: $ 0.089
  • 1 Jan 2023: $ 0.070
  • Yearly Gain/Loss: +$ 0.019

Disclaimer: We are not a crypto trading website, and we do not claim to be cryptocurrency experts. This review is purely for the purpose of information only for those who are interested. If you are looking to invest or trade in any crypto, please seek out expert advice.

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