Bitcoin Price Prediction as BTC Rallies 9% from Recent Bottom
Following the bullish breakout of the $16,660 level on January 4, the Bitcoin price prediction has turned bullish. BTC may experience a bullish trend if the candles close below $16,930. Bitcoin, the world’s biggest and most popular digital asset, kept going up and reached $16,728.
Ethereum, the second-largest cryptocurrency, increased by more than 1% to $1,229. On the other hand, the latest rally could be explained by the fact that the global cryptocurrency market had a strong day on Wednesday during the Asian trading session when the market value went up by about 2% from the day before.
According to data from coinmarketcap, the total value of all cryptocurrencies on the market today stayed below $1 trillion, going up by a small amount in the last 24 hours to $844 billion.
Solana (SOL), which has been seeing a massive rise, increased by over 20% due to the favorable attitude around the currency. On the other side, the upward trend in Bitcoin, the world’s largest and most popular digital asset, was further buoyed by reports suggesting that the difficulty of mining bitcoin decreased by 3.6%.
It is worth remembering that the estimated hashrate dropped as several miners momentarily shut off their electricity due to a storm, but it increased again.
Upbeat Cryptocurrency Market Sentiment
The global cryptocurrency market has been showing signs of life and has begun the new year on a high note. The two most prominent currencies, Bitcoin and Ethereum, have made modest gains and continue to trade in the green.
Other cryptocurrencies, such as Dogecoin and Cardano, have followed suit. If this pattern holds, we may see some positive market movement. After the price of cryptocurrencies fluctuated significantly in 2022, investors are hoping for encouraging market news this year.
Minutes Reveal Fed Wants Rate “Flexibility” as Inflation Stays Key
At its policy meeting on December 13-14, all Federal Reserve officials agreed that the US central bank should reduce the aggressiveness of its interest rate increases. This would allow the Fed to continue raising interest rates in an effort to rein in inflation, but to do so in a more gradual fashion that would reduce the potential risks to economic growth.https://www.twitter.com/TruthPuke/status/1610740974350925824?s=20&t=TP53C9LwLyEb5FBk1qw3Hg
The minutes from the meeting, which were made public on Wednesday, revealed that policymakers were still concerned about the “misperception” in financial markets that their commitment to battling inflation had waned and was working to slow price increases that were running hotter than expected.
The current bitcoin price is $16,818 with a trading volume of $18 billion in the last 24 hours. On the technical front, Bitcoin is facing significant resistance at $16,950, and a positive breakout of this level might have an impact on future market patterns. However, BTC has failed to cross above $16,950, and the closing of candles below this level is likely to drive a bearish correction today.
In case of increased demand, BTC may slice through the $16,950 level to target the $17,150 level.
The RSI and MACD indicators are in a buying zone, indicating a bullish trend for Bitcoin; however, the Doji candle under $16,900 is pushing BTC lower toward support levels of $16,660 and $16,475.
Profitable Cryptocurrencies to Keep an Eye on
Due to the market’s fear of loss, investors are looking for safer, higher-yielding alternatives. Early investors have access to the largest pre-sales in the market.
The FightOut (FGHT) platform works similarly to a personal trainer, except that the FGHT token is awarded proactively for workout time. All activities are recorded and can be used to improve the statistics of one’s metaverse avatar. Earning FGHT tokens encourages users to live a healthy lifestyle and engage in physical activity while reaping the benefits of blockchain technology.
Despite the general lack of liquidity in the bitcoin market, FightOut has thrived and attracted investors. Through its token sale, which began last week, it has already raised more than $2.6 million.
As the sale progresses, the current selling price of 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT) will rise.
Dash 2 Trade (D2T)
When it launches in early 2023, Dash 2 Trade will be an Ethereum-based platform that will provide real-time analytics 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.
✅Main reasons for the pre listing over-funding round✅— Dash 2 Trade (@dash2_trade) January 4, 2023
A thread 🧵
1/✔️ Support exchange listings
We want to support the token by securing more tier 1 exchange listings.
New information suggests that the sell-out presale of the trading intelligence cryptocurrency project will be extended with the addition of an over-funding round. Earlier today, the presale hit its fourth and final funding goal of $13,420,000 and was thus scheduled to close.
3/✔️ support the huge spike in demand for the token on the back of the presale dashboard beta available for testing at https://t.co/ENTQh6zIJP— Dash 2 Trade (@dash2_trade) January 4, 2023
4/✔️ A lot of investors have been busy over the Christmas/New Year period and have missed the opportunity to join the $D2T presale
In order to accommodate those who may have missed the initial investment window, the Dash 2 Trade team has decided to launch a 5th stage (or “over-funding round”) of the presale in which an additional 36,000,000 tokens will be sold at a price of $0.0556 to raise an additional $2,001,600.
Over-funding for D2T is happening at a price that is 4% higher than its previous price of $0.0533. The updated project fundraising total is $15,421,600.
C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations based on the Binance Chain. It plans to increase customer access to carbon credits by rewarding people who charge their electric vehicles at its terminals, which will be operational in the second quarter of next year.
The platform has already agreed to add 20% of Turkey’s EV chargers to its network to demonstrate its scalability. 1 CCHG costs $0.013, and can be bought with BNB or USDT. The initiative has so far raised more than $74,500 in presale funds.