https://ift.tt/f9AbNrs And Bitcoin Price Predictions Look Bullish | CryptoGazette

There are various price predictions for the most important coins out there and you can see some of them below. They are for Bitcoin and Ethereum, the two most important coins out there.

It’s been just revealed that the crypto analytics firm Santiment is seeing bullish on-chain indicators for the top two digital assets by market cap.

According to Santiment, Ethereum (ETH) transaction fees are dropping, and it’s also worth noting the fact that this is a good sign for the leading smart contract platform.

“Transaction fees are now officially at their lowest level since July 28th, 2021. Low fees typically maximize the chances of a bounce.”

Ethereum is trading at $3,073.34 at the time of writing.

What’s going on with Bitcoin?

Santiment also notes that the number of daily active Bitcoin (BTC) addresses hit 1.08 million on Saturday. It’s also worth noting the fact that the highest of the year so far.

This is a potentially bullish indicator, according to the crypto intelligence firm.

“The uptick in participants transacting on the BTC network is a nice sign of increased utility, a predecessor to price rises.”

It’s been also revealed that after a few price drops last Friday, BTC’s supply on exchanges dropped to 10.87% of its total supply. It’s worth noting the fact that this is its lowest point since December 2018, according to Santiment.

Santiment says the drop of existing supply on crypto exchanges is another potential positive development for BTC.

“Generally, this continued trend of coins moving off of exchanges limits the risk of major sell-offs.”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $43,890.

The other day, we revealed that it seems that Bitcoin was able to hold above $41,500 resistance level over the past weekend. This comes after a slide from the $46k level that the king coin has seen during the past week.

CoinDesk notes that this particular move came as hashrates for the Bitcoin network hit lifetime highs.

“Bitcoin has shown strength this month after a slide to yearly lows of $33,000 in January. It broke above the $38,000 and $41,500 resistance level in the first week of February to monthly highs of $46,000, a level previously seen in the final weeks of 2021.”