During the European session, Bitcoin price prediction Not much has changed today as BTC continues to trade above the key $16,550 support. Looking at the bullish technical indicators, the market is waiting for a major on-chain signal before launching into a classic bull market.
On December 17th, the developer of PuEL Multiple tweeted that he believes the current BTC price decline is nearing its end. Not everyone is pessimistic about the future of bitcoin, however, with many predicting new BTC/USD lows this cycle at or below $12,000.
According to Puel, two major on-chain events are already in place and will be crucial for the BTC price to rally.
Despite the fact that bitcoin has dropped almost 70% from its all-time high, many long term holders (LTH) are still holding on to their coins. Short-term “speculators” have also been hit hard by the current price collapse.
What Puel believes is a lack of promoting network activity across the board.
Mazars Group will stop working with all crypto firms
Accounting firm Majors Group has temporarily stopped serving cryptocurrency clients. Binance, KuCoin and Crypto.com decided to sever ties shortly after the international accounting firm published a “Proof of Reserves” report for several cryptocurrency exchanges.
The move comes as the major cryptocurrency exchange seeks to establish its financial stability and demonstrate that it can meet withdrawal demands without going bankrupt.
The respective CEOs of Binance and Crypto.com have attempted to separate their companies from FTX, which has been accused of misappropriating consumer funds for years before filing for bankruptcy.
Sam Bankman-Fried, who started the company, has been charged with fraud and money laundering. Mazars severed ties with the company in February due to concerns over the accuracy of the Trump Organization’s financial records.
Mazar Group said in a statement cnbc that it had “paused its work involving the release of Proof of Reserves reports for enterprises in the cryptocurrency sector” due to “concerns over how these reports will be understood by the public”.
This adds to the bearish pressure on the crypto market and BTC remains bearish.
bitcoin price prediction
current price of bitcoin $16,730, and a 24-hour trading volume of $22 billion. The bitcoin price is down about 1.5% since yesterday.
On Saturday, the BTC/USD pair is expected to find an immediate support near $16,560. As the RSI and MACD indicators are in the oversold zone, BTC price could continue to rise towards the 23.6% Fibonacci retracement level at $17,000.
Besides, the BTC/USD pair is likely to face a fresh resistance at $17,250, a level that is supported by the 38.2% Fibonacci retracement point and the 50-day simple moving average.
On the other hand, a break below $16,570 could expose BTC towards $16,150.
High Profitable Alternative Coins
Given the current risk-off sentiment in the cryptocurrency market, a few coins are making headlines. Let’s see them!
FightOut (FGHT) – Presale Launch
to fightA brand new Move-to-Earn (M2E) fitness app and gym chain that aims to bring the fitness lifestyle to Web3 has launched its pre-sale, and investors believe the project will add value to the existing Web3 M2E landscape. has the ability to change.
While existing M2E apps like StepN only track steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more comprehensive approach to tracking and rewarding its users for their exercise and activity. It doesn’t require any expensive purchases. -Ins.
FightOut’s FGHT tokens are currently selling for 60.06 USDT per 1 USDT, and interested investors should act quickly to secure their tokens, as the pre-sale exceeded $2.8 million in just a few days. The FGHT token will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Pre-sale enters final phase
Dash 2 Trade is a promising crypto trading platform startup for anyone looking to invest. The up and coming analytics and social trading platform aims to take the crypto trading sector by storm with its unique features.
Features include trading signals, social sentiment and on-chain indicators, pre-sale token scoring system, token listing alert system, and strategy back-testing tools. The D2T token will fuel the Dash 2 trading ecosystem, which users must purchase and hold in order to enjoy the platform’s services.
Dash 2 Trade is now hosting a token pre-sale at a significantly reduced price, with sales recently exceeding $10 million. The pre-sale dashboard will go live on Friday, and the development team is already ahead of schedule. The tokens are currently available for purchase for $0.0533 per token and will be listed on multiple centralized exchanges within the next month.
Calvaria (RIA) – Final pre-sale phase now
RIA, a new play-to-earn battle card crypto game, is probably one possibility. Calvaria aims to increase crypto acceptance by creating a bridge between the real world and crypto in the form of a fun and easy-to-play crypto game. Investors can find out about Calvaria’s RIA token pre-sale here.
Calvaria has now received $2.47 million and is nearing the end of its fundraising campaign, with only 20% of its tokens remaining.
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