Bitcoin Price Prediction – Is The Next Stop $18,000 for BTC 2023 New Year Rally?
During the Asian session, Bitcoin price prediction has turned optimistic, with BTC increasing about 1.50% to $17,220. Similarly, Ethereum, the second-largest cryptocurrency, rose roughly 3.50% to $1,310.
On January 9, investors flocked to the stock markets on the expectation that the Federal Reserve of the United States would soon be able to ease its aggressive fight against inflation, driving up the price of publicly traded Bitcoin miners’ by $17,250.
Gains of double digits were seen in intraday trading for Bitcoin mining coins like Riot Blockchain (RIOT), Hut8 (HUT), Bitfarms (BITF), and Marathon Digital Holdings (MARA). The large-cap S&P 500 Index went up by 1%, and the technology-focused Nasdaq went up by 2% during the rally in equity markets, but the gains went down as the rally did.
In the United States, this week’s closely watched data on consumer price inflation is expected to show that prices have continued to ease, and the markets have been happy about this. The Federal Reserve’s rate-hike campaign was successful on January 7, as data from the Labor Department revealed a slowdown in job creation and wage growth in December.
U.S. Jobs Data – Healthy All Around !— Prashant Nair (@_prashantnair) January 6, 2023
– 223k vs 203k poll
– Unemployment rate 3.5% vs 3.7% poll
– Avg hourly earnings 0.3% MoM vs 0.4% poll
Solid data but not hot enough to cause markets to reprice Fed action. Basically markets saved by the slightly weaker wages!#stocks #NFP
After Friday’s nonfarm payroll reports were released, market participants expected the Fed’s funds effective rate to peak at 5.06%. Still, following Monday’s release of the jobs report, that expectation dropped to 5%, as reported by Bloomberg.
Meanwhile, Fed Funds futures prices indicate that investors anticipate a more gradual increase in interest rates in the coming months.
Bitcoin has a 24-hour trading volume of $14 billion at its current price of $17,200. With a price goal of $17,200, Bitcoin is trading in a bullish trend. If a doji candle forms near $17,200, it means that buyers have run out of steam and sellers may step in to cause a bearish correction. If Bitcoin’s price manages a positive breakout above $17,200, it will face the next resistance level at $17,400.
On the 4-hour time frame, Bitcoin formed a bullish engulfing candle, indicating a strong bullish trend in trade. Therefore, Bitcoin’s value might rise to $17,750.
In the case of a decline, the $17,000 level is expected to operate as an immediate support, and a bearish breakout of this mark can extend the downtrend to the subsequent support levels at $16,800 or $16,650.
Profitable Cryptocurrencies to Keep an Eye on
Due to the market’s fear of loss, investors are looking for safer, higher-yielding options. Those that buy-in at the beginning of a market cycle get first dibs on the biggest pre-sales.
The FightOut (FGHT) platform functions similarly to a personal trainer, with the exception that the FGHT token is compensated in advance for workout time. All activities are monitored and can be used to boost the metrics of one’s metaverse avatar.
The FGHT presale is working well, with almost $2.80 million already raised. The current selling price of 60.06 FGHT for $1 (FGHT may be purchased using ETH or USDT) will climb as the sale goes.
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Dash 2 Trade (D2T)
When it starts in early 2023, Dash 2 Trade will be an Ethereum-based platform that will provide real-time statistics and social trading data. Trading signals, on-chain statistics, strategy-building tools, and newsfeeds will be among the first features, assisting new and seasoned traders alike in staying on top of the volatile bitcoin market.
Dash 2 Trade has raised $14.9 million in funding, with only four days and ten hours until the platform’s native D2T token is listed on Gate.io, the first in a planned series of centralized cryptocurrency exchange listings. D2T will also be available through Changelly Pro, LBANK, and BitMart.
It is now available for $0.0556, however, some commentators have criticized the pre-sale price as being excessively low given the token’s potential. D2T investors, according to numerous traders, including well-known presale analyst Jacob Crypto Bury, may have profit potential.
C+Charge (CCHG) is a blockchain-based network that rewards electric vehicle owners for charging and driving their cars. Its native token, CCHG, is currently available for purchase. The use of electric vehicles has grown dramatically in recent years all across the world.
The electric vehicle (EV) sector has emerged as a more ecologically friendly alternative to the existing automobile industry, which has long been in need of transformation. People may now buy EVs and participate in the green revolution thanks to firms like Tesla, Rivian, and others.
To demonstrate its scalability, the network has already offered to connect 20% of Turkey’s EV chargers. 1 CCHG costs $0.013, and it can be bought using BNB or USDT. So far, the presale has raised $103,400.