Bitcoin Price and Ethereum Prediction; Is It a Good Time to Buy on Christmas Day?
Bitcoin price prediction stays neutral during the Asian session on December 25, Christmas Day, as BTC continues to consolidate in a narrow range of $16,750 to $17,000. The global financial market appears to be seeing minimal volatility and trade activity on Christmas Day, which is holding price action in check. Similarly, Ethereum has stayed relatively stable at $1,218.
Let's take a quick look at the fundamental outlook for Bitcoin and Ethereum today.
Bloomberg's Top Strategist Says Ethereum Will Outperform Bitcoin
Bloomberg's senior macro strategist Mike McGlone predicts that Ethereum, the second-largest cryptocurrency by market capitalization, will surpass Bitcoin in the next bull market.
According to McGlone's most recent market forecast analysis, Ethereum has shown more durability than Bitcoin and other risk assets, suggesting it "may be a leading candidate to continue outperforming the firstborn crypto."
As of this writing, Bitcoin is down about 76% and Ethereum over 75% from their respective peaks in November 2021. The annual volatility of Ethereum is roughly 1.3%, making it more volatile than bitcoin.
And so, while Ethereum is currently greatly discounted, McGlone pointed out that the ETH/BTC cross rate has been unchanged at 0.08 since May 2021, when the Nasdaq 100 Stock Index was roughly 20% higher, suggesting that ETH is likely to resume appreciating if volatility is any indication.
The current price of a bitcoin is $16,835, and the volume of trades in the last 24 hours is $9.6 billion. CoinMarketCap is ranked first with a live market cap of $324 billion. Bitcoin's market domination fell further from 40.50% to 39.96%.
Bitcoin's technical outlook remains mostly unchanged. If the BTC/USD pair breaks through $17,000, it will almost certainly continue to rise toward the $17,500 mark. If Bitcoin falls below $16,500, the next level of support will be at $16,320.
Despite the fact that the RSI and MACD are both in the positive purchasing zone, the 50-day moving average continues to drag on Bitcoin. Keep a watch on today's $17,000 price, which is likely to be a watershed moment for Bitcoin.
Ethereum's current price is $1,219, with a $2.5 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.20%, and CoinMarketCap currently ranks second, with a live market cap of $149 billion.
On the 4-hour chart, Ethereum has been battling below $1,220, and the closing doji and bearish engulfing candle indicate a likely negative reversal. The short-term supports for Ethereum are $1,180 and $1,150.
If the $1,180 support level is breached, the bearish trend might extend to $1,150. If Ethereum prices surge above $1,220, the upward trend may continue until Ethereum prices reach $1,270.
High-Yield Alternative Coins
Despite the broad decline in the bitcoin market, just a few coins are garnering attention.
FightOut (FGHT) is a move-to-earn software that rewards users for partaking in activities like boxing, weightlifting, and yoga. It will be built on Ethereum and will launch in Q2 2023, offering a choice of in-app and in-person classes, with plans to open up to 20 of its own branded gyms and affiliate with many more.
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 another Ethereum-based platform that, when it launches early next year, will provide real-time analytics and social trading data. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among its initial features, which will help both rookie and experienced traders keep up with the turbulent bitcoin market.
The company's D2T token sale has raised more than $10.7 million and is slated to conclude in only 13 days, giving early investors a rapidly closing window of opportunity.
On January 11, the altcoin will be listed on its first exchange, with LBANK Exchange, Changelly Pro, and Bitmart confirmed as the first trading platforms to offer it.
C+Charge (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. Its goal, which is set to begin in the second quarter of next year, is to improve access to carbon credits by rewarding consumers who charge their EVs at its terminals.
The platform has already reached an agreement with Perfect Solutions Turkey, which will add 20% of Turkey's EV chargers to its network, indicating how quickly it may spread.
1 CCHG is present $0.013, and it can be purchased with BNB or USDT.