bitcoin price prediction The entire Asian session is not much changed today, as BTC remains above the important $16,550 support level. Given the bullish technical signals, the market is waiting for an important on-chain signal before entering a typical bull run.
The ongoing fear of the market is keeping bitcoin and other cryptocurrencies under pressure.
Sam Bankman-Fried cancels extradition contest
Sam Bankman-Fried, a former FTX CEO, plans to appear in court in the Bahamas on Monday to withdraw his opposition to extradition to the United States, where he faces fraud charges. Bankman-Fried amassed an estimated net worth of more than $20 billion as he rode the crypto bubble to build FTX into one of the world’s largest exchanges.
The 30-year-old cryptocurrency tycoon was charged in federal court in Manhattan on Tuesday with stealing billions of dollars from FTX customers and using the money to pay down debt, cover personal costs and invest in his crypto hedge fund, Alameda. Did. Research LLC.
If he agrees to extradition, he will be able to face charges of wire fraud, money laundering and improper use of campaign funds in a US court.
According to Margulies-Onuma, Bankman-Fried will have to enter a plea and judges will decide on bail at their preliminary court proceedings in Manhattan. The hearing must take place within 48 hours of Bankman-Fried’s arrival in the United States, the lawyer said, adding that it was likely to happen much sooner.
Mazars Stopped Working With Crypto Firms, Binance At Risk?
Sam Bankman Fried’s fall from grace has been finalized, and his rival, Changpeng Zhao, the founder of cryptocurrency exchange Binance, is under investigation as a result.
Fresh concerns were raised on Friday when auditing firm Mazars Group suspended work for Binance and other cryptocurrency firms in a bid to show the firms maintain enough reserves to cover any potential increase in consumer withdrawals.
Zhao has often said that Binance does not allegedly misappropriate customer funds like FTX and that his exchange can handle any number of withdrawals. Binance has been around longer than FTX, which means it has weathered past “crypto winters,” such as the 80% drop in bitcoin’s value between December 2017 and December 2018.
It has been a challenging few days though.
Indeed, it was likely the lack of market confidence in Mazars’ “proof-of-reserve” reports that prompted the business to suspend all such operations. This latest action by Mazars threatens to cloud an accounting picture that was already opaque.
Binance’s market dominance in the wake of FTX’s collapse does not sit well in a sector that preaches decentralization, even for those who explicitly support CZ and its exchange .
The recent drop in cryptocurrency prices in response to the news of CZ’s company added fuel to the fire, causing bitcoin and other major altcoins to slide. Let’s take a look at the technical side of the market.
bitcoin price prediction
current price of bitcoin is $16,747, and the 24-hour trading volume is $11 billion. The bitcoin price is down about 0.20% since yesterday.
The BTC/USD pair is expected to find an immediate support near $16,560 on Sunday. BTC price could rally towards the 23.6% Fibonacci retracement level of $17,000 as the RSI and MACD indicators are in the oversold zone.
Moreover, the BTC/USD pair is set to face a fresh resistance at $17,250, a level extended 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 Profitability Alternative Coins
Some coins are making news because of the current risk-off mindset in the cryptocurrency market.
Let’s take a look at them!
FightOut (FGHT) – Presale Launch
to fightA new move-to-earn (M2E) fitness app and gym chain that aims to bring the fitness lifestyle to Web3 has begun its pre-sale, and investors believe the initiative will benefit existing Web3 M2E Has the potential to revolutionize the landscape.
Existing M2E apps, such as StepN, simply measure steps and require expensive non-fungible tokens (NFTs) to join, but FitOut takes a more comprehensive approach to tracking and paying its users for their exercise and activity. Provides and does not require any. Expensive buy-ins.
FightOut’s FGHT tokens are currently available for 60.06 USDT for 1 USDT, and interested investors should act soon to secure their tokens, as the pre-sale has raised over $2.86 million in just a few days. happened.
FightOut crypto ecosystem will be powered by FGHT coin.
Dash 2 Trade (D2T) – Pre-sale enters final phase
Dash 2 Trade is a promising cryptocurrency trading platform startup to invest in. With its unique features, the upcoming analytics and social trading platform intends to take the crypto trading sector by storm. Trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool are among the features.
The Dash 2 trade ecosystem will be powered by the D2T token, which users must purchase and hold in order to access the platform’s services. Dash 2 Trade is now running a token pre-sale at significantly reduced prices, selling just above $10 million. The tokens can currently be purchased for $0.0533 per token and will be published on multiple centralized exchanges within the next month.
Calvaria (RIA) – Final pre-sale phase now
A new play-to-earn battle card crypto game, RIA, could be a reality. Calvaria’s mission is to increase crypto acceptance by building a bridge between the real world and cryptocurrencies in the form of a fun and easy-to-play crypto game. Investors can view Calveria’s RIA token pre-sale here.
With only 20% of the tokens remaining, Calvaria has now raised $2.48 million and is nearing the end of its fundraising campaign.
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