Bitcoin Price Prediction as BTC Completes 61.8% Fibonacci Retracement

On Friday, the Asian session noticed extra promoting within the cryptocurrency market as the US Federal Reserve and the European Central Bank raised rates of interest. Despite the BTC sell-off, the Bitcoin value prediction stays bullish as lengthy as it stays above the $17,000 assist zone.

The international crypto market value decreased 1.18% to $850.21 billion in the day gone by, as main cryptocurrencies plummeted early on December 16. Over the final 24 hours, the overall crypto market quantity plummeted 26.85% to $33.96 billion.

The whole quantity in DeFi is at the moment $1.79 billion, accounting for five.26% of the general 24-hour quantity within the crypto market. The general quantity of all stablecoins is now $31.45 billion, accounting for 99.60% of the overall 24-hour quantity of the crypto market.

Let’s take a look on the elementary aspect of the market. 

Trump Sells Superhero NFTs After Calling Bitcoin A “Scam”

After being banned from Twitter final yr, Donald Trump turned to a brand new community referred to as Truth Social, the place he teased a “massive shock” earlier this week. Numerous folks theorized that Trump will reveal his vice presidential choose for the 2024 race.

Some of Trump’s most ardent supporters have been let down by the revelation that there would quickly be an NFT assortment with Trump as the topic. On Thursday, he introduced, “My official Donald Trump Digital Trading Card assortment is right here!”

Despite the truth that Trump by no means referred to “NFT” within the article, that’s precisely what the “digital buying and selling playing cards” are:

There shall be 45,000 NFTs on the Polygon blockchain, and they’re going to price $99 apiece.

All 45,000 NFTs have been bought in simply 12 hours, in keeping with statistics from OpenSea, regardless of receiving widespread ridicule from each Trump supporters and adversaries. This quantities to $4.45 million if every donation was $99.

Furthermore, the designers obtain 10% of any proceeds from gross sales made via third-party marketplaces like OpenSea. Traders on OpenSea have forked over $406,000 (320 ether) to date buying and buying and selling NFTs. 

Bitcoin Price 

The present price of Bitcoin is $17,469, and the 24-hour buying and selling quantity is $25 billion. Since yesterday, the value of Bitcoin has dropped by greater than 1%. Despite having damaged via a important resistance degree of round $18,150, Bitcoin is buying and selling adversely.

Leading technical indicators, such as the relative energy index (RSI) and the transferring common convergence divergence (MACD), are at the moment bullish, indicating that Bitcoin’s value might rise after finishing the 61.8% Fibonacci retracement at $17,440.

Bitcoin Price Chart – Source: Tradingview

The subsequent main resistance degree for Bitcoin is round $18,125; a break above this degree may result in additional rises towards $18,600. On the draw back, Bitcoin’s value might discover assist at $17,440.

This degree has beforehand served as a barrier, and it’s more likely to preserve BTC’s bullish development. A bearish crossover under this area, alternatively, may end in a drop in BTC value under $16,850.

Altcoins With Huge Upside Potential  

Cryptocurrencies have been buying and selling sideways for some weeks, prompting some merchants to contemplate options with larger short-term promise. The following are a number of the market’s main presales, permitting buyers to get in on the primary flooring.

FightOut (FGHT)

FightOut (FGHT), one of many market’s latest initiatives and presales, is a move-to-earn health software program that mixes real-life exercises with Web3 and the metaverse.

It tracks and rewards not solely steps walked, however all types of exercises, as nicely as actions finished to guide a greater way of life, constructing on the foundations established down by prior M2E platforms such as STEPN.

Only lately launched, its presale has already raised over $2 million, with $1 at the moment buying 60.06 FGHT tokens.

Visit FightOut Now

Dash 2 Trade (D2T) – Final stage of presale

The mission mentioned right this moment that after the token public sale exceeds $10 million, a countdown to its first public itemizing on a managed market will start. If the $10 million goal is reached earlier than the completion of the stage 4 presale, Dash 2 Trade will launch DASH on CEX on the finish of the presale.

Visit Dash 2 Trade Now

RobotEra (TARO)

RobotEra (TARO), one other Ethereum-based platform, is a Sandbox-style Metaverse that may permit gamers to play as robots and contribute to the creation of its digital world. This contains the creation of NFT-based land, buildings, and different in-game belongings, as nicely as the sport’s objective of connecting gamers to different metaverses and establishing an interoperable multiverse.

1 TARO is at the moment accessible for 0.020 USDT (it could be bought with USDT or ETH), nonetheless, this value will rise to $0.025 within the second stage of its presale. It has already collected virtually $568,000.

Visit RobotEra Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

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About the Author: Daniel