iGaming Crypto Watch March 2023 – Check Out the Latest Crypto Prices!

Get the latest BTC, BCH, ETH, XRP, TRX, & LTC prices changes for the past 1 month via our Gaming Crypto Watch February 2023 update! (Photo by kanchanara at unsplash.com)

We are back with the third installment of our iGaming crypto watch news update this year. There are plenty of talking points as cryptos show some signs of a bull run, but don’t seem to be able to push past their resistance levels.

As February comes to a close, the digital asset market took another short-lived hit last Friday. The crypto market typically follows the equity markets and the U.S Federal Reserve PCE news caused the major indices to drop up to 2% in one day.

The government continues to battle inflation, stating the probability of more inflation rate hikes and investors have reacted to the macroeconomic data report with crypto a sell-off. The year-on-year inflation rate is currently 4.7%, up from 4.6% last month.

Also, the International Monetary Fund is meeting in India this week for the G20 and will discuss digital assets. They are positive about regulating the industry rather than banning it. While the IMF is keen on fully-backed stablecoins, it stated that non-backed crypto are too high risk, isn’t a currency and would not be considered legal tender. The IMF is set to release a report in H2, with regulatory framework guidelines, which will protect consumers from a volatile industry.

As we move into March, we take a look at Bitcoin, BitCash, Litecoin, TRON, Ripple and Ethereum to see their price action movements since last month’s update.

iGaming Crypto Watch March 2023: For those of you that want a quick reminder of last month’s prices or would like to make comparison as well as rewind back to January’s update, head over to the iGaming Crypto Watch February 2023 update here.

iGaming Crypto Watch Match 2023 Updates

Bitcoin (BTC) – Bitcoin had a weekly low of $22,874 USD but managed to bounce back and is currently trading a $23,405 USD. The crypto market leader dragged the rest of the industry down after the U.S. Fed stated that inflation price hikes were imminent. Some industry analysts are calling this the bottom while others believe it is too early to call. The fact that over 15 million BTC hasn’t been traded in 6 months, suggests that these investors are content and are confident that BTC will pop in coming month(s). This buy-and-hold strategy appears to take some of the volatility out of the market but time will be the ultimate judge in the near future.

BitCash (BCH) – BitCash crossed a 6 month high a week ago at $145 USD. Although it has pulled back with the rest of the market, it is making incremental gains this week and was trading at $134 USD at the time of writing. Bullish analysts believe that because of technical charts/analysis, BCH is poised to hit a cash price of $165 USD. There is very little resistance between $152 USD and $165 USD and they expect BCH to run once it hits $152 USD.

Litecoin (LTC) – LTC has had a spectacular run since the beginning of the year. The coin has gained 33% and has outperformed all of its peers. Price predictions are $100 USD, but trading volumes will need to increase to achieve this target. The upward price trajectory of Litecoin is supported by technical indicators. But analysts suggest investors in LTC should wait until the cryptocurrency’s price ascends with a distinct upward trend over the charts. It is currently trading at $94.02 USD, but we know this could change at any time.

TRON (TRX) – TRON performed very well against its peers as it continues to expand its platform and gain new users across the globe. TRX has partnered with other platforms to increase its network and usage and it has been received in a positive manner by investors. This has been reflected in increased trading volumes, social media coverage and bullish comments from market analysts. The altcoin is currently trading at $0.069 USD and is seeing resistance at $0.072 USD. If it breaks $0.072, the coin could run to 0.082 USD, the next big resistance hurdle.

Ripple (XRP) – Ripple has traded sideways for the last couple of weeks. The company is still waiting for the summary judgement between them and the SEC. As new motions come to light, the case continues to drag on and gets more complicated. XRP is trading at $0.38 USD and has been in a free fall since January and is currently seeing resistance a $0.4012 USD. If it breaks out from here, the next target of resistance is $0.4108 USD.

Ethereum (ETH) – Ethereum was one of the major coins that suffered on the U.S. Fed announcement, as the market goes into a correction phase. ETH couldn’t break through resistance at $1,720 USD and has since pulled back to $1,634 USD, which has some analysts speculating that the coin is entering a bearish trend. Some expect the price to come off up to 9% in the next month. Price trends indicate that $1,500 USD could be the correction before it reverses the downward movement.

Disclaimer: Our aim is to help those interested in cryptocurrency iGaming, which you can find out more via our crypto in online casinos help guide. This report should not be used to make a decision on whether or not to invest in cryptocurrency. We publish it once per month so you have another resource to see how digital currencies commonly used for iGaming are performing. If you would like to invest in crypto, please find a website that offers professional advice on digital asset trading and investing.