Bitcoin Price and Ethereum Prediction; Which Way Will BTC Go?
During the Asian session on December 24, the Bitcoin price prediction remains neutral as BTC continues to consolidate in a narrow range of $16,750 to $17,000. With only one day until Christmas, the global financial market appears to be experiencing low volatility and trading volume, which is keeping price action in check. Similarly, Ethereum has also remained mostly unchanged at $1,218.
Over the last 24 hours, the global crypto market capitalization increased by 4.75% to $2.39 trillion, while trading volume increased by 14.11% to $102.84 billion. While DeFi ($17.44 billion) contributed 16.96% of trading volume, stablecoins ($79.65 billion) accounted for 77.45%.
Let’s take a quick look at the fundamental outlook for Bitcoin and Ethereum today.
Musk: Fed Rate Hikes May Be Worst Ever
Elon Musk, CEO of Tesla, SpaceX, and Twitter, issued a dire warning Thursday about the potential consequences of the Federal Reserve’s plan to raise interest rates quickly.
The former investment manager Genevieve Roch-Decter tweeted that “the Fed has never raised rates quicker” than this year, prompting his warning.
At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever.
Roch-Decter tweeted with a chart demonstrating that the Federal Reserve has increased interest rates this year at a rate faster and more significantly than at any time in the past century.
The Fed has never raised rates faster— Genevieve Roch-Decter, CFA (@GRDecter) December 22, 2022
We are all test subjects in a massive economic experiment pic.twitter.com/n3Bz6VG1GE
The current price of a bitcoin is $16,852, and the volume of trades in the last 24 hours is $14 billion. CoinMarketCap is ranked first with a live market cap of $324 billion. Bitcoin’s market domination, which is presently trading at $51,103.04, increased by 0.29% to 40.50%.
The technical outlook for Bitcoin is mostly unchanged. If the BTC/USD pair crosses over $17,000, it will probably continue to surge toward the $17,500 barrier. If the price of Bitcoin falls below $16,500, the next level of support is at $16,320.
The 50-day moving average continues to weigh on Bitcoin, despite the fact that the RSI and MACD are both in the positive buying zone. Keep an eye on today’s price of $17,000, which is expected to represent a watershed event for Bitcoin.
Ethereum’s current price is $1,219, with a $4.5 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.35%, 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 signal a potential negative reversal. Ethereum’s short-term supports are between $1,180 and $1,150.
If the $1,180 support level is violated, the bearish trend might continue to $1,150. If Ethereum prices rise above $1,220, the positive trend could continue until Ethereum prices rise above $1,270.
Alternative Coins with High Returns
Despite the general downturn in the cryptocurrency market, just a few coins are making headlines.
FightOut (FGHT) is a move-to-earn app that compensates users for participating in various activities such as boxing, weightlifting, and yoga. It will run on Ethereum and will go live in Q2 2023, offering a variety of in-app and in-person classes, with aspirations to create up to 20 of its own branded gyms and affiliate with many more.
Its token sale, which began last week, has already raised more than $2.3 million. The current selling price is 60.06 FGHT for $1 (FGHT can be purchased using ETH or USDT), but this will increase during the next stage of the sale.
Visit FightOut Now
Dash 2 Trade (D2T)
Dash 2 Trade is 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, which will assist both novice and expert traders in staying ahead of the volatile bitcoin market.
The sale of its D2T token has raised more than $10.5 million and is set to finish in only 13 days, providing early investors with a rapidly closing window of opportunity. The altcoin will be listed on its debut exchange on January 11, with LBANK Exchange, Changelly Pro, and Bitmart confirmed as the first trading venues to support it.
C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations that runs on Binance Chain. Its goal, which is set to begin in the second quarter of next year, is to increase access to carbon credits, which it would reward consumers for charging their EVs at its terminals.
As an indication of how quickly it could expand, the platform has already struck a deal with Perfect Solutions Turkey, which will add 20% of Turkey’s EV chargers to its network.
1 CCHG currently costs $0.013, and can be purchased using BNB or USDT.