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HomeDeFiBitcoin Price Prediction – Was $15,500 the Bottom?

Bitcoin Price Prediction – Was $15,500 the Bottom?

Following the rebound above $15,500, Bitcoin value prediction stays impartial throughout the European session. Since then, BTC has been buying and selling in a slim vary of $16,350 to $16,750. The market’s volatility is low this weekend, and skinny buying and selling retains value motion restricted.

Was $15,500 the backside? Let’s discover out. 

Risk-off Triggered – Another Exchange Has Halted Withdrawals 

Yes, it has occurred once more. One extra cryptocurrency buying and selling platform has determined to cease processing withdrawals, making it not possible for his or her clients to obtain their funds. 

Staking platform Freeway is at the middle of this controversy because it claims that considered one of its buying and selling strategies has tanked. This is why it has briefly stopped processing withdrawals for patrons.

In an announcement, Freeway introduced:

The buying and selling technique was executed because it was programmed, however the market volatility prompted a spike in margin utilization resulting in the loss.

For the previous a number of months, this has been a recurrent theme in the cryptocurrency trade, although to be honest, that is the first time an organization appears to be blaming itself for the final result. One of Freeway’s investment strategies reportedly failed.

Most different situations of withdrawal halts have been justified by companies as needed precautions towards the steady hypothesis and volatility in the markets. In considered one of the most distinguished circumstances of a withdrawal freeze this 12 months, customers of Celsius, a cryptocurrency lending firm that has been in the headlines for the previous few weeks, noticed their funds frozen. 

When Celsius abruptly stopped withdrawals all through the summer time, the eyebrows of its clients and out of doors observers alike had been raised in amazement and disgust.

But Celsius did not cease there; it fanned the flames by asserting it might be submitting for chapter, shielding its executives from authorized motion by indignant clients, lenders, and anybody else with monetary stakes in the firm.

As a consequence, this might be considered one of the causes for the crypto trade’s gradual restoration and large promoting strain.

Bitcoin HODLers Shifting BTC to Cold Storages

This is no surprise, particularly since withdrawals from well-known exchanges have been suspended, and it’s changing into a standard observe. A brand new tweet by Santiment, dated November 27, claimed that Bitcoin HODLers had been shifting their BTC from exchanges and into chilly storage. 

While 6.95% of Bitcoin was accessible on exchanges at the time of the tweet, that quantity has since elevated.

This chart reveals that the variety of Bitcoins accessible on exchanges has fallen to its lowest stage in 4 years. The present development of BTC being faraway from exchanges started in 2020, however has not too long ago accelerated because of the FTX fallout.  

A drop in Bitcoin’s change value, nonetheless, doesn’t point out waning client enthusiasm for BTC.

Bitcoin Price 

The present Bitcoin value is $16,542, and the 24-hour buying and selling quantity is $19 billion. Bitcoin is usually unchanged in the final 24 hours, tossing in earnings and losses which aren’t important. 

CoinMarketCap at the moment ranks first, with a stay market cap of $317 billion. It has a most provide of 21,000,000 BTC cash and a circulating provide of 19,217,300 BTC cash.

Bitcoin Price & Tokenomics – Source: coinmarketcap

On Weekend, the BTC/USD is buying and selling uneven, with a slim buying and selling vary of $16,300 to $16,800. In order to forecast future developments, Bitcoin should first break by means of the beforehand talked about buying and selling vary.

In the 4-hour timeframe, the BTC/USD pair is at the moment holding above the 23.6% Fibonacci retracement stage of $16,400, and a breakout of this stage can decide the subsequent buying and selling vary.

If Bitcoin breaks beneath the 23.6% Fib stage, it will likely be uncovered to the 38.2% Fib stage of $16,275 and the 61.8% Fib stage of $15,900.

Bitcoin Price Chart – Source: Tradingview

Leading technical indicators, corresponding to the RSI and MACD, are oscillating between shopping for and promoting ranges, indicating investor indecision. 

The 50-day shifting common, on the different hand, is maintaining the BTC supported close to $16,450, indicating a excessive probability of an uptrend continuation.

If consumers enter the market, a bullish breakout of the $16,785 stage might ship BTC to $17,000 and even increased to 17,850. 

Cryptocurrency Pre-Sale With Massive Profit 

Despite the slowdowns of the market, a number of cash have immense upside potential. Let us take a more in-depth have a look at them.

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based buying and selling intelligence platform that gives real-time analytics and social information to merchants of all ability ranges, permitting them to make better-informed choices. The platform will go stay in the first quarter of 2023, offering traders with info to assist them make proactive buying and selling choices.

Dash 2 Trade, a platform for crypto buying and selling intelligence and indicators, has piqued traders’ curiosity after elevating $7 million in simply over a month. As a consequence, the D2T staff has determined to name it quits at stage 4 and decrease the arduous cap goal to $13.4 million.

Dash 2 Trade has additionally been successful, with two exchanges (LBank and BitMart) promising to checklist the D2T token as soon as the presale concludes. 1 D2T is at the moment valued at 0.0513 USDT, however this may rise to $0.0533 in the remaining stage of the sale.

D2T has to this point raised over $7 million by promoting greater than 82% of its tokens.

Visit Dash 2 Trade now

RobotEra (TARO) 

RobotEra (TARO) is a Sandbox-style Metaverse with an alpha model set to launch in the first quarter of 2023.

On its platform, players will have the ability to play as robots and assist construct its digital world, which is able to embrace NFT-based land, buildings, and different in-game objects.

TARO has already raised greater than $240,000, and 1 TARO is often bought for 0.020 USDT (it may be bought with both USDT or ETH), however this value will enhance to $0.025 throughout the second stage of its presale, which is able to start quickly.

Visit RobotEra Now

Calvaria (RIA)

Calvaria is a brand-new bitcoin gaming firm with the potential to dominate the play-to-earn market. The requirement for cryptocurrencies with the intention to play has confirmed to be a big barrier to widespread Web3 gaming adoption, in accordance with Calvaria (RIA) builders. 

Calvaria has extra info accessible right here.

As a consequence, the sport could have each free-to-play and pay-to-win modes, with the free-to-play mode accessible to gamers with out cryptocurrency.

Since its inception, the presale has raised almost $2 million and is now in its remaining levels after the builders determined to finish it early. The presale was to final ten levels and provide 300 million RIA tokens.

However, the builders have determined to vary the presale providing, which signifies that stage 5 will likely be the final alternative for traders to buy RIA earlier than they’re launched to the public market, the place costs are anticipated to pump.

Visit Calvaria Presale Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews



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