Bitcoin Price Prediction – Can BTC Pump Up 50% in a Christmas Rally?
On Friday, Bitcoin's price remained relatively stable, near $16,750 on December 22. Bitcoin (BTC), the world's most popular cryptocurrency, extended its modest gains and closed the day above $16,800. It has remained upbeat despite the release of the United States third-quarter GDP figures, which revealed an increase to 3.2% from the previously reported 2.9%.
Cryptocurrencies have had a difficult year after reaching record highs in late 2018, owing to a variety of factors such as the Fed's tightening of policies, as well as the collapses of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX. As a result, returning to high levels in the crypto market will be difficult.
Despite this, Bitcoin, the world's most popular cryptocurrency, appears to be recovering and is being supported by a mildly positive crypto market. Meanwhile, BTC's minor rise could be attributed to the fact that investors have begun to conduct large transactions, which is strengthening the market.
On the downside, the escalating Covid situation is already affecting traditional stock markets, but the crypto market appears to be safe for the time being. The overall crypto market, however, remains quiet, with only minor price fluctuations.
As a result, the escalating COVID crisis may play a role in limiting gains in digital currencies.
Bitcoin Price
Bitcoin's current price is $16,823, and the 24-hour trading volume is $17 billion. The BTC/USD pair has gained nearly 1% in the last 24 hours. The bitcoin price recovered to reclaim $17,000, double the top level. The closing of the candles in this scenario keeps BTC under selling pressure.
A bullish breakout of the $17,000 level can expose Bitcoin's price towards $17,350, and above this, the next resistance is likely to be around $18,000.
On the downside, a bearish breakout of the $16,600 support level may allow for additional selling until $16,250 or $16,100; a bearish break of this level may expose BTC to $15,650.
According to the MACD and RSI indicators, there is currently a mixed bias in the market. The RSI is indicating that the market is oversold, while the MACD indicates that there may be upward momentum. These conflicting signals may make it difficult to predict the direction of the market trend.
Finally, the closing of the candles below the 50-day simple moving average suggests that the downturn may continue.
Alternative Cryptocurrencies with Higher Short-Term Profits
For several weeks, cryptocurrencies have been trading sideways, prompting some traders to consider alternatives with greater short-term potential. The following are some of the market's top presales, allowing investors to get in early.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) fitness app and gym chain that wants to bring the fitness lifestyle to web3, has started its presale, and investors believe the initiative has the ability to change the present web3 M2E environment.
Existing M2E programs, such as STEPN, simply track steps and require expensive non-fungible token (NFT) buy-ins to join, but FightOut offers a more holistic approach to tracking and rewarding its users for their exercise and activity and does not require any expensive buy-ins.
FightOut's FGHT tokens are presently available for 60.06 USDT for 1 USDT, and prospective investors are encouraged to act quickly to protect their tokens, with the presale raising over $2.3 million in just a few days. The FGHT coin will fuel the FightOut cryptocurrency ecosystem.
Visit FightOut Now
Dash 2 Trade (D2T) – Presale Enters Final Stage
Dash 2 Trade is a promising crypto trading platform startup for anyone wishing to invest in. The up-and-coming analytics and social trading platform hope to take the crypto trading sector by storm with its unique Features. Among the Features are trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool. T
he D2T token will fuel the Dash 2 Trade ecosystem, which users must purchase and hold in order to enjoy the platform's services. Dash 2 Trade is now hosting a token pre-sale at substantially discounted prices, with sales topping $10.53 million lately.
Because the development team is now ahead of schedule, the pre-sale dashboard will be accessible soon. Tokens are currently available for purchase for $0.0533 per token and will be listed on numerous centralized exchanges within the next month.
Visit Dash 2 Trade here
Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games, such as Axie Infinity, lost considerable traction by 2022. As a result, many investors interested in cryptocurrency games are looking for alternative investments. Calvaria, a new play-to-earn battle card crypto game, maybe a possibility.
Calvaria's goal is to enhance crypto acceptance by creating a bridge between the real world and crypto in the form of a fun and easy-to-play crypto game. Investors may explore Calvaria's RIA token pre-sale.
Calvaria has now raised $2.54 million with only 18% of the tokens still available.
Visit Calvaria Now
Find The Best Price to Buy/Sell Cryptocurrency
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