Arslan Butt
Bitcoin price prediction is still neutral, as BTC has been fluctuating between $16,500 and $17,000 since November. BTC must maintain its vital level over $16,800 to keep the crypto market booming. However, if the BTC price falls below $16,500, bearish sentiment may return to the market.
Bitcoin (BTC), the world’s most popular cryptocurrency, managed to continue its small gains and closed the day above $16,830. It has maintained its bullish position despite the announcement of third-quarter GDP numbers for the United States, which revealed an increase to 3.2% from the previously announced 2.9%.
US GDP numbers come in higher than expected and the markets do this pic.twitter.com/38dA9cakr4
— lines down (@lines_down) December 22, 2022
After reaching all-time highs in late 2018, cryptocurrencies have had a terrible year due to a number of issues, including the Federal Reserve’s tightening of regulations, as well as the collapses of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX.
This is why the crypto market will be difficult to return to high levels. The most widely used cryptocurrency, Bitcoin, is showing signs of revival and is supported by a modestly positive crypto market. Meanwhile, the fact that investors have begun to make substantial transactions may be responsible for BTC’s small growth.
Although the traditional stock market is being impacted by the rising Covid issue, the cryptocurrency market appears to be secure for the time being. However, the cryptocurrency market as a whole is relatively stable, with only minimal price changes. As a result, the escalating Covid situation may contribute to limit the value of digital currencies.
Nifty down and Pharma up, also news of covid outbreak in China, USA, Japan, Korea, Brazil. Hope so this is not connected.#StockMarket #stockmarketupdate #StockNews pic.twitter.com/r46d2S45zR
— Mohit Karnani (@mohitt007) December 21, 2022
US Dollar Keeps Bitcoin Price Prediction Unchanged
The broad-based US dollar was little changed in the early trading session on Friday as investors assessed the outlook for interest rates following the release of stronger-than-expected US economic data on Thursday. So far, the revelation of US third-quarter GDP numbers, which showed an upward adjustment to 3.2% from the previously reported 2.9%, has had no noticeable impact on US dollar pricing.
US economic growth in the third quarter was stronger than previously estimated, reflecting upward revisions to consumer spending and business investment https://t.co/uhprMYJmTl
— Bloomberg Economics (@economics) December 22, 2022
The US Census Bureau also reported a drop in durable goods orders of 2.1%, or $5.8 billion, to $270.6 billion in November. Following October’s 0.7% expansion, this data was worse than the market’s forecast of a 0.6% drop.
⚠️BREAKING:
*U.S. NOVEMBER DURABLE GOODS ORDERS TUMBLE -2.1%; EST. -0.6%; PREV. +0.7%
— Investing.com (@Investingcom) December 23, 2022
The PCE price index fell from 6.1% in October to 5.5% in November, as reported by the US Bureau of Economic Analysis on Friday.
Bitcoin Price Prediction
The BTC/USD exchange rate is currently at $16,855, with a 24-hour volume of $16 billion. Bitcoin’s value has increased by 0.16% in the last day. Bitcoin is definitely the market leader, with a current market cap of $324 billion. There are 21,000,000 BTC in total, with 19,241,381 now in circulation.
Bitcoin regained $17,000, nearly twice its previous peak. The closing of the candles in this scenario maintains BTC under selling pressure. If the $17,000 barrier is breached, Bitcoin’s price might rise to $17,350, with the next barrier projected to be around $18,000.
A bearish violation of the $16,600 support level may allow for further selling until $16,250 or $16,100 is reached; a bearish breach of this level may expose BTC to $15,650. According to the MACD and RSI indicators, the market now has a mixed bias.
The RSI indicates that the market has been oversold, however, the MACD indicates that there may be some upward momentum. These contradicting signals may make forecasting market movement difficult. Finally, the closing candles below the 50-day simple moving average suggest that the decline may persist.
While Bitcoin is the first and most well-known cryptocurrency, investing in the best altcoins may yield better results.
FightOut (FGHT) – Presale Now On
FightOut is a one-of-a-kind workout app and physical gym chain aiming to disrupt the move-to-earn (M2E) business. The network will solve concerns with programs like STEPN, which merely counts steps and has been reprimanded for using expensive NFTs, as well as a reward system that should use more NFTs to give people more incentive to move.
In particular, the team is pioneering “move to earn,” in which one’s exercises are recorded and tracked in real-time, and the user is eligible for FGHT token awards. The presale has been a big success thus far, generating a lot of interest from the local community.
Dash 2 Trade (D2T)
Dash 2 Trade is a new initiative that pulls together all of the most relevant and useful trading tools to help traders trade more effectively. So far, the presale has been a success, with the team raising approximately $10.5 million.
The presale is almost finished, and the first central exchange listing has been scheduled for January 11th. Changelly, LBank, and BitMart have already agreed to sign exchange listings with the team.
C+Charge (CCHG)
CCHG is currently developing a peer-to-peer (P2P) payment system for electric vehicle charging stations based on blockchain technology, which will allow EV drivers to earn carbon credits. C+Charge proposes to strengthen the use of carbon credits as the main incentive for EV adoption.
At the moment, major EV manufacturers like Tesla profit handsomely from the sale of carbon credits to polluters. By offering these benefits to EV owners rather than only huge enterprises, C+Charge hopes to make the carbon credit market more equal.
The CCHG token, which will be used to pay for EV charging stations on C+Charge’s network, is now available for pre-sale. Tokens are now being sold for $0.013, but this will have increased by 80% by the end of the presale.
As a result, investors who want to be among the first to participate in a sustainable, green cryptocurrency endeavor should act quickly.
Related
- Bitcoin Price Prediction 2022 – 2030
- How to Buy Bitcoin – Beginner’s Guide
- How to Invest in Bitcoin – Beginner’s Guide
Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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