Bitcoin Price and Ethereum Prediction; BTC Hashrate Recovers
According to on-chain data research, the current state of the Bitcoin market is one of the least volatile in its history. Late in 2018, volatility last plummeted to levels comparable to today. The price of cryptocurrencies fell steadily throughout the year, just like it has done recently.
Bitcoin's volatility is at an all-time low pic.twitter.com/sGOIC7cM6e— Will Clemente (@WClementeIII) December 25, 2022
On December 26, major cryptocurrencies traded mixed after the global crypto market cap grew marginally by 0.10% to $812.31 billion on the previous day. The entire cryptocurrency market volume in the last 24 hours is $22.98 billion, a 34.28% decline. The overall volume in DeFi is currently $1.55 billion, accounting for 7.04% of the entire 24-hour volume in the crypto market.
The total volume of all stablecoins is now $20.01 billion, accounting for 91.07% of the total 24-hour volume of the crypto market.
Let’s take a quick look at the fundamental outlook for Bitcoin and Ethereum today.
Bitcoin Hashrate Recovers After Huge Freeze
After dropping 38% to 170.60 EH/s from a weekly high of 276.40 EH/s, the Bitcoin network hashrate has recovered to its previous level of 241.29 EH/s. Days after frigid weather across the United States put a burden on the nation’s energy grid, causing a brief dip in hashrate, the Bitcoin network hashrate has recovered to usual levels again.
Extreme cold in the days before Christmas left millions of Americans without electricity and killed at least 28 people across the United States.
It has been reported that Bitcoin miners in Texas, which is responsible for a large amount of the country’s hashrate, have voluntarily reduced operations in order to return power to the grid, allowing locals to continue using their heating systems.
Over 30% of the #Bitcoin hashrate has gone offline due to extreme weather in Texas and yet the global #Bitcoin network continues to work perfectly.— Dennis Porter (@Dennis_Porter_) December 25, 2022
Now imagine if Amazon or Google tried turning off 1/3rd of their data centers. pic.twitter.com/G49iqBZXDL
Bitcoin’s hashrate, which generally ranges from 225 to 300 EH/s, appears to have taken a hit due to the outages. On December 25th, it had dropped to 170.60 EH/s. On the other hand, as of the 26th of December, the hashrate is back up to 241.29 EH/s, as measured by the hashrate mining calculator CoinWarz.
The current price of a bitcoin is $16,858, and the volume of trades in the last 24 hours is $12 billion. CoinMarketCap is ranked first with a live market cap of $324 billion. Bitcoin’s market domination recovered from 39.96% to 40.01%.
The technical picture for Bitcoin remains mostly unchanged. If the BTC/USD pair breaks $17,000, it will very probably continue to increase toward $17,500. If Bitcoin falls below $16,500, it will find support at $16,320.
Despite the fact that the RSI and MACD are both in the positive purchase zone, Bitcoin is still being dragged down by the 50-day moving average. Keep an eye on today’s $17,000 price, which is expected to be a turning point for Bitcoin.
Ethereum’s current price is $1,220, with a $4 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.10%, and CoinMarketCap currently ranks second, with a live market cap of $149 billion.
Ethereum has been battling below $1,220 on the 4-hour chart, and the closing doji and bearish engulfing candle imply a likely negative reversal. Ethereum’s short-term supports are $1,180 and $1,150.
If the $1,180 support level is broken, the negative trend might hit $1,150. If Ethereum prices rise above $1,220, they may continue to rise until they hit $1,270.
Alternative Coins with High Yields
Despite the general fall in the crypto market, just a few coins have gained traction.
FightOut (FGHT) platform functions similarly to a personal trainer, except that the FGHT token is proactively rewarded for the time spent exercising. All activities are recorded and can be utilized to improve one’s metaverse avatar’s statistics.
The opportunity to earn FGHT tokens provides an additional motivation for people to keep healthy and focus on exercise while taking advantage of blockchain benefits.
FightOut is a project that has succeeded and attracted investors despite the general lack of liquidity in the cryptocurrency market. It has already raised more than $2.3 million through its token sale, which began last week. The current selling price is 60.06 FGHT for $1 (FGHT may be acquired using ETH or USDT), but this will rise in the coming stages of the sale.
Visit FightOut Now
Dash 2 Trade (D2T)
Dash 2 Trade is yet another Ethereum-based platform that will give real-time statistics and social trading data when it starts early next year. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among its initial features, assisting both novice and professional traders in keeping up with the volatile bitcoin market.
There are only 14 days left to buy in one of 2022’s largest ICOs, Dash 2 Trade, as it raises $10.8 million and prepares to launch its dashboard beta. Over the last two months, investors have taken 80% of the D2T token allocation, and the presale is continuing at a rapid pace.
There is no time to waste if you want to be in on the ground floor for ten-bagger gains in 2023. D2T is the system’s access coin, and it is now valued at $0.0533 in the presale after first selling to investors for $0.0476.
C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations based on the Binance Chain. Its goal, which is set to begin in the second quarter of next year, is to increase access to carbon credits by rewarding customers who charge their electric vehicles at its terminals.
The platform has already signed an agreement with Perfect Solutions Turkey to add 20% of Turkey’s EV chargers to its network, illustrating how quickly it may grow. 1 CCHG is available for $0.013, and it may be purchased with BNB or USDT.