Bitcoin, the leading cryptocurrency finally found support near the $16,900 level on December 7, which is being extended by an ascending trend line. second most valuable cryptocurrency, EthereumThere was also support above $1,240, a level that was extended by a double-bottom pattern appearing on the 2-hour time frame.
Major Cryptocurrencies Traded in a Mixed Bag Early on December 7th global crypto market capitalization It fell 0.02% to $855.67 billion on the previous day.
We will discuss the technical outlook in detail later in this article, but for now, let’s look at the market fundamentals.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
Trust Wallet Token (TWT), MultiverseX (EGLD)And holo (hot) Here are three of the top 100 coins that gained price in the last 24 hours. The price of TWT has increased by about 5% to $2.40; The price of EGLD has increased by more than 4.5% to $45.28; HOT price has increased by about 4.5%.
cello (celo), Aptos (APT), and KAVA are three of the top 100 coins that lost value in the last 24 hours. While CELO has lost about 4.70% to trade at $0.6185, APT is down about 4% to trade at $4.90. Meanwhile, the price of KAVA is down by over 4.8% to trade at $0.8635.
Billionaire Tim Draper Predicts BTC Price to Surge to $250,000 Next Year
Tim Draper, founder of Draper Associates and one of Silicon Valley’s most prominent financiers, has reiterated his $250,000 bitcoin ($BTC) price forecast, claiming the cryptocurrency will reach that number by June next year.
cnbc report Despite the bankruptcy of crypto exchange FTX, Draper still expects the leading cryptocurrency to soar over 1,400% in less than a year.
According to his statement, the $250,000 forecast was removed six months to late 2022 or early 2023.
Crypto Will Be Regulated As Securities, Senator Warren
Senator Elizabeth Warren and Jeffrey Sprecher, CEO of Intercontinental Exchange Inc. (ICE) both have Having said that most cryptocurrencies will be regulated as securities in the United States.
Sprecher, whose company ICE oversees the New York Stock Exchange, confidently predicted on December 6 at a financial services conference hosted by Goldman Sachs Group Inc. that cryptocurrency assets are “going to be regulated and treated like securities.” Is.”
He claimed that this would lead to tighter regulation of centralized exchanges and brokers, resulting in greater protection for individual investors.
“What does this mean? It means more transparency, it means that individual client funds will be overseen, the broker’s role as a broker-dealer and the exchanges will be separated from the brokers. Settlement and clearing will be separated from the exchanges”
Overall, this will be viewed positively by investors and could contribute to the BTC uptrend.
bitcoin price
the current bitcoin price $17,012, and a 24-hour trading volume of $19 billion. During the past 24 hours, the BTC/USD pair declined by almost 2%, while coinmarket cap Currently ranked 1st with a live market cap of $357 billion.
Given the current risk-off sentiment and a strong US dollar, BTC/USD The pair fell to $17,385 giving up most of its gains. It is now taking immediate support at $16,900, which is being extended by an ascending trend line on the 4-hour time frame.
If BTC can consolidate above $17,000, a bullish reversal is likely. On the upside, bitcoin may face resistance at $17,385; A bullish break above this level could allow additional buying towards $17,650 or $18,000.
On the other hand, a break below the $16,840 support could extend the selling trend towards the $16,500 level.
ethereum price
current price of Ethereum $1,261, with a 24-hour trading volume of $5 billion. Ethereum is mostly unchanged over the past 24 hours, down less than 0.50% on Wednesday. CoinMarketCap is currently ranked #2 with a live market cap of $154 billion.
on the 4 hour chart, Ethereum There was a drop to the previous support area at $1,250, and a candle closing above this level has the potential to trigger a rebound. On the upside, ETH has the potential to break the $1,300 resistance.
The bullish bias remains strong as the 50-day moving average approaches $1,250.
Conversely, the RSI and MACD have recently entered the sell zone, indicating a sell trend in ETH. However, it looks like a bearish correction, and the bulls will remain bullish until it reaches $1,250.
The increasing selling pressure could result in a bearish breakout, allowing additional selling until the $1,220 or $1,185 levels are reached.
Today, keep an eye on $1,250 as it could act as a key pivot point.
IMPT Pre-Sale Ending Soon: 1 Week To Buy
IMPT There is a new Ethereum-based network that will reward users for doing business with environmentally conscious companies. These benefits will be provided by the company’s IMPT token, which can be used to purchase NFT-based carbon offsets, which can then be sold or retired.
IMPT has Raised over $14.6 million Since its initial public offering in October, 1 IMPT is currently trading at $0.023.
Due to its extraordinary success, IMPT.io, a leading platform for carbon offsetting and carbon credit trading, Token Presale on 11th December,
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