Bitcoin Price and Ethereum Prediction – Can BTC Fall to $15,500 Today?
Bitcoin (BTC) has lost nearly 2% of its value to $16,480 over the past 24 hours, leading to bearish predictions for its BTC. Ethereum (ETH) also saw bearish activity, which may have been influenced by the release of US unemployment claims figures, which increased demand for the US dollar and resulted in a selling trend in the cryptocurrency market.
In the week ending December 24th, the number of new claims for unemployment benefits filed by Americans increased by 9K to 225K, which was in line with market expectations of 225K. The 4-week moving average, which considers weekly changes, stayed the same at 221K, which shows that the job market is tight.
Bitfarms Co-founder and CEO Emiliano Grodzki Resign
A news announcement dated December 29 announced the resignation of Bitfarms co-founder and CEO Emiliano Grodzki. The mining firm was established in 2017 by Emiliano Grodzki and Nicolas Bonta.
According to the rumors, while Grodzki will continue to serve as a director, Bonta will now serve as the board's chairman. In the wake of Grodzki's departure, Geoffrey Morphy, previously President and COO, has been promoted to CEO.
“Challenging times are precisely why our emphasis on operating efficiency, cost controls, corporate governance and a diversified portfolio of underutilized energy sources are so important and position us for success in all environments."
Bitcoin miners have been hit hard by the market downturn, seeing their daily earnings hit historic lows. Neither Bitfarms nor any other company has been immune to the present market condition, as the company has posted consecutive quarterly losses for the past two months. This has the potential to drive Bitcoin and other altcoin prices even lower.
The current price of a bitcoin is $16,503, and the volume of trades in the last 24 hours is $14 billion. On the 4-hour time frame, Bitcoin is gaining solid support at $16,460, which is being extended by an outward trend line evident in the chart below.
A bullish breakout of the $16,720 level may expose Bitcoin price to the next resistance level of $16,990. Because the RSI and MCD are in the bearish zone, a bearish breakout of the $16,460 level could expose Bitcoin to an immediate support level of $16,200 or $16,000. An additional bearish breakout of $16,000 can expose BTC toward the $15,500 level today.
Ethereum's current price is $1,193, with a $4 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.25%, and CoinMarketCap currently ranks second, with a live market cap of $146 billion.
Ethereum, like Bitcoin, is trending downward; however, the ETH has found instant support at $1,180. An rising trend line observed in the 4-hour time period extends this support level.
On the 4-hour timeframe, candle closing over $1,180 will almost certainly signal a bullish reversal. The bullish reversal, on the other hand, may drive the Ethereum price to an immediate resistance level of $1,220, which is stretched by the 50-day simple moving average.
A breach below an upward trend line, on the other hand, can continue the selling trend till the next support levels of $1,150 and $1,100.
High Potential Alternative Coins
Despite the overall fall of the bitcoin industry, just a few coins have gained traction.
FightOut (FGHT) platform functions similarly to a personal trainer, with the exception that the FGHT token is proactively rewarded for exercise time. All activities are recorded and can be used to improve one's metaverse avatar's statistics.
Earning FGHT tokens provides an additional incentive for people to stay healthy and exercise while reaping the benefits of blockchain technology. FightOut has succeeded and attracted investors despite the general lack of liquidity in the cryptocurrency market.
It has already raised more than $2.4 million through its token sale, which began last week. The current selling price of 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT) will rise as the sale progresses.
Visit FightOut Now
Dash 2 Trade (D2T)
When it launches early next year, Dash 2 Trade will be an Ethereum-based platform that will provide real-time statistics and social trading data. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among the first features, assisting both novice and experienced traders in staying abreast of the volatile bitcoin market.
Dash 2 Trade, one of the largest ICOs of 2022, has only 7 days left before the presale ends and has launched its dashboard beta. D2T has already raised over $11 million in funding.
D2T is the system's access coin, and it is now worth $0.0533 in the presale after initially selling for $0.0476 to investors.s coin, and it is now worth $0.0533 in the presale after being sold to investors for $0.0476 initially.
C+Charge (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. It intends to broaden access to carbon credits by rewarding customers who charge their electric vehicles at its terminals, which will open in the second quarter of next year.
The platform has already agreed to add 20% of Turkey's EV chargers to its network, demonstrating its ability to scale quickly. 1 CCHG costs $0.013, and it can be purchased using BNB or USDT.