Bitcoin Price Prediction as BTC Spikes Into the Green – Time to Buy?

Bitcoin, the world’s largest and hottest digital token, has recovered barely above the $17,000 mark, halting its earlier lengthy declines. Bitcoin has been falling in worth over the final seven days due to FTX’s chapter, which has harmed the cryptocurrency market. BTC dropped to $15,872.94 earlier than rising to a excessive of $17,200.

However, the current BTC restoration may very well be attributed to bettering crypto market sentiment, which aids main cryptocurrencies in regaining traction. The global market capitalization of cryptocurrencies has elevated by greater than 4% to $843 billion, in accordance to Coinmarketcap. 


The excellent news is that Binance was planning to launch a “aid fund” to help cash-strapped crypto companies in fueling the rise in main cryptocurrency costs. Meanwhile, the stronger-than-expected US inflation knowledge was considered as one other necessary issue that boosted the value of Bitcoin.

Binance Relied Fund

Binance is establishing an business restoration fund to assist in any other case sound initiatives which are experiencing liquidity points to mitigate the damaging results of FTX. 

Changpeng Zhao, the CEO of the world’s largest “trade,” tweeted in the early hours of Monday, the 14th. The firm acknowledged that extra info can be supplied shortly.

Recovering Crypto Market

Since the begin of the day, the world crypto market has been sending blended alerts, indicating that it’s a gradual day for cryptocurrencies. Following just a few extraordinarily tense days due to the FTX chapter, the market hardly data important entry or exit strikes and stays cautious.

While Ethereum (ETH) is over $1,250 and has gained lower than 0.50% in the final 24 hours, Bitcoin (BTC) has traded nearly flat and continues to be shut to $17,000. The collapse of Sam Bankman-exchange, Fried’s, which is at present making headlines, has diminished buyers’ urge for food for danger. 

Upticks in US Dollar

As extra Federal Reserve members supported the tighter monetary policy, the broad US greenback maintained its early-day upward pattern and attracted some extra bids in opposition to the euro and pound. 

Fed Vice Chair Lael Brainard reaffirmed remarks made by Fed Governor Christopher Waller over the weekend that rates of interest should proceed to rise to fight inflation, albeit at a slower tempo. 

The greenback rose in opposition to the pound and held regular in opposition to the euro, remaining greater than 1% above its two-month low. As a end result, it was anticipated that the robust US greenback would proceed to be a key issue limiting BTC positive aspects.

Bitcoin Price Prediction

The present value of 1 bitcoin is $16,716, with a 24-hour buying and selling quantity of $19 billion. Bitcoin has risen by lower than 1% in the final day and at present holds a market worth of $351 billion. There at the moment are 19,208,200 BTC cash in circulation, with a most of 21,000,000 BTC cash.

Bitcoin Price & Tokenomics – Source: Tradingview

Bitcoin has risen over the $16,000 assist degree to reclaim the $17,000 degree. At the second, it is consolidating in a slim buying and selling vary of $16,000 to $17,000, and a breakout of this may decide additional value motion.

In the 4-hour timeframe, Bitcoin has accomplished a 23.6% Fibonacci retracement at the $17,150 degree, and it’s now regular below it. The 50-day shifting common is probably going to present resistance at $17,350, and a cross above this degree has the potential to lead the BTC/USD value towards $18,190.

Bitcoin Price Chart – Source: Tradingview

Bitcoin’s value motion is being restricted by the formation of Doji and spinning star candles. To decide additional value motion, let’s anticipate the buying and selling vary of $16,000 to $17,000 to break.

Top Crypto Coins on Pre-Sale 

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based buying and selling intelligence platform that gives merchants of all ability ranges with real-time analytics and social knowledge, permitting them to make extra knowledgeable selections. 

It started its token sale three weeks in the past and has since raised over $6.2 million. It has additionally confirmed its first CEX itemizing on LBank exchange.

1 D2T is at present value 0.0513 USDT, however that is anticipated to rise to $0.0533 in the subsequent stage of gross sales and $0.0662 in the closing stage.

Visit Dash 2 Trade now

Calvaria (RIA)

Calvaria is a brand new cryptocurrency gaming mission with the potential to dominate the play-to-earn market. Calvaria builders have recognized two main limitations to widespread Web3 gaming adoption. While buyers see Web3 video games’ potential, customers don’t.

Calvaria’s presale is gaining traction, with the mission already in stage 4 of 10 and shut to $1.7 million in funding.

As the value of the native RIA token rises considerably at every presale stage, buyers are flocking to the quickly rising GameFi mission.

In stage 4, tokens value $0.025 every, however by stage 5, the value had risen to $0.03, and tokens value $0.055 in stage 10.

Visit Calvaria Presale Now

RobotEra (TARO)

TARO is one other mission that has the potential to change the gaming group and the digital world. The asset’s presale has solely just lately begun, however there may be already appreciable curiosity from potential patrons.

RobotEra is a blockchain-based metaverse the place customers can create avatars and discover a digital world, and the platform’s native token is TARO. In RobotEra, gamers can buy land, construct on it, and develop their areas with numerous infrastructures.

The aim is to create a metaverse by which everyone seems to be snug with their private property holdings. Furthermore, RobotEra has a shared metaverse the place customers can have interaction in a wide range of actions such as sports activities, concert events, and different aggressive occasions.

The first stage of TARO’s presale is now reside, and it’s shortly promoting out.

Visit RobotEra (TARO) Presale Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

Recommended For You

About the Author: Daniel