Bitcoin Price Prediction as BTC Sees Green for the Week – New Rally Starting?
Bitcoin price prediction for December 27 is bearish, with a drop to $16,600. A cryptocurrency mining pool, BTC.com, and its parent company, BIT Mining Ltd., revealed that the company had been the victim of a cyberattack on December 3 that resulted in the loss of approximately $3 million in assets.
The attacker stole $2.3 million in BIT Mining assets and around $700,000 in BTC.com client assets. The method of the attack has not yet been disclosed by the company. According to the statement, the incident has been reported to the police in Shenzhen, China. Some of BTC.com’s assets were recovered as a result of the investigation.
https://www.twitter.com/Dareos1971/status/1607581919218388992?s=20&t=Jvah4H-0u93ELGOn0Eb1FQA mining pool, BTC.com, assists many miners in pooling their computational power on a blockchain network to earn money and collect block rewards. It is a top mining pool that provides multi-currency mining services for virtual currencies such as bitcoin. It is now the seventh-largest mining pool on the bitcoin blockchain, according to data provided by the company.
BIT Mining stated that BTC.com will continue to operate as usual and that “aside from its digital asset services,” its client fund services are unaffected by the hack.
Japan Will Allow Stablecoins in 2023
According to a local news outlet, the Financial Services Agency of Japan will remove the restriction on the domestic use of international stablecoins. It means that Japanese officials are considering lifting the current ban on stablecoins. The changes are included in the new “Revised Payment Services Act,” as previously reported.
BREAKING: 🇯🇵 Japan plans to allow local listing of 'foreign' stablecoins.
— CoinHub (@CoinHubCC) December 27, 2022
The proposed measure will bring back foreign stablecoins, but in a different way. Because of the Japanese stablecoin restriction, authorized banks and mobile money providers were able to create stablecoins.
Under the new regulations, the institutions in charge of stablecoins in Japan will become distributors. It gives local distributors authority over foreign stablecoins rather than the issuer. “Local distributors” refers to national cryptocurrency exchanges in this context. Changes will also limit international stablecoin transfers to $7,500 per transaction.
BIG news out of #Japan today: the Financial Services Agency (FSA) is seeking public input on new #regulations that would allow foreign #stablecoins to be listed on local exchanges.
— Flagship.FYI (@FlagshipFYI) December 27, 2022
🧵 pic.twitter.com/FBjgZqUgb5
Despite efforts to repeal the prohibition, stablecoin use will continue to be restricted by anti-money laundering and terrorism financing laws. The Financial Services Agency has already responded to the suggestion to lift the ban on stablecoins in Japan (FSA).
Stablecoins were not available through any of Japan’s 31 cryptocurrency exchanges prior to the planned reforms. Furthermore, given the popularity of stablecoins and the industry leader Bitcoin, the latest headlines may pique the interest of some crypto enthusiasts. As a result, BTC/USD will benefit in the longer run.
Bitcoin Price
The current price of Bitcoin is $16,616, and the 24-hour trading volume is $16 billion. The BTC/USD pair is down 1.5% today, heading toward the $16,500 support zone. CoinMarketCap currently ranks first, with a live market cap of $319 billion. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,244,981 BTC coins.
On the technical front, Bitcoin has broken through the ascending triangle pattern that held the coin at $16,730. On the downside, Bitcoin’s immediate support is at $16,560. Increased selling pressure could push the downtrend all the way to the $16,300 level; a further bearish break of this level could expose BTC to $15,650.
On the plus side, Bitcoin’s immediate resistance remains at $16,750, and a bullish crossover above $16,750 can expose BTC to $16,920 or $17,000.
Higher-Profit Cryptocurrencies
For weeks, cryptocurrencies have traded sideways, enticing traders to look for alternatives with better short-term prospects. Investors can get in on the ground floor of the market’s biggest presales.
FightOut (FGHT)
FightOut (FGHT) platform works similarly to a personal trainer, except that the FGHT token is proactively rewarded for exercise time. All activities are recorded and can be used to improve the statistics of one’s metaverse avatar. The ability to earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while reaping the benefits of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, FightOut has succeeded and attracted investors. Through its token sale, which began last week, it has already raised more than $2.4 million. The current selling price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT), but this will increase as the sale progresses.
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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, assisting both novice and experienced traders in keeping up with the volatile cryptocurrency market.
The D2T token sale has raised more than $11 million and is set to end in just 9 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 initial trading platforms to support it.
C+Charge (CCHG)
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 increase access to carbon credits by rewarding consumers who charge their EVs at its terminals.
The platform has already struck a deal with Perfect Solutions Turkey, which will add 20% of Turkey’s EV chargers to its network, indicating how quickly it could expand. 1 CCHG is currently $0.013, and it can be purchased with BNB or USDT.
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