Bitcoin Price Prediction – Was $15,500 the Bottom?

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After rallying above $15,500, Bitcoin The price forecast remains neutral during the European session. Since then, BTC has been trading in a tight range of $16,350 to $16,750. Market volatility is low this weekend, with thin trading keeping price action limited.

Was $15,500 the bottom? let’s find out.

Risk-off trigger – another exchange has blocked the withdrawal

Yep, it’s happened again. Another cryptocurrency trading platform has decided to stop processing withdrawals, making it impossible for their customers to receive funds.

Staking platform Freeway is at the center of the controversy as it claims that it has a Trading techniques have tanked, This is the reason why it has temporarily stopped the withdrawal process for the customers.

In a statement, Freeway announced:

The trading strategy executed exactly as it was programmed, but the volatility of the market resulted in increased margin usage, which resulted in losses.

For the past several months, this has been a recurring theme in the cryptocurrency industry, although to be fair, this is the first time a corporation is blaming itself for the outcome. One of Freeway’s investment methods reportedly failed.

Most other instances of withholding withdrawals have been justified by firms as necessary precautions against continued speculation and volatility in the markets. In one of the most prominent cases of withdrawal freezes this year, users of Celsius, a cryptocurrency lending company that has been in the news for the past few weeks, saw their funds frozen.

When Celsius suddenly stopped evacuees all summer long, the eyebrows of its customers and outside observers alike raised in astonishment and disgust.

But Celsius didn’t stop there; It announced to fan the flames it would file for bankruptcy, shielding its executives from legal action by angry customers, lenders and anyone else with a financial stake in the company.

As a result, this could be one of the reasons for the slow recovery of the crypto industry and the massive selling pressure.

Bitcoin HODLers Are Moving BTC To Cold Storage

This is not surprising, especially as withdrawals from well-known exchanges have been suspended, and this is becoming a common practice. new one Tweet Sentiment, dated November 27, claimed that bitcoin HODLers were moving their BTC out of exchanges and into cold storage.

While 6.95% of bitcoin was available on exchanges at the time of the tweet, the number has since increased.

This chart shows that the number of bitcoins available on exchanges has fallen to its lowest level in four years. The current trend of delisting BTC from exchanges started in 2020, but has accelerated recently as a result of the FTX crash.

The drop in bitcoin’s exchange value, however, does not indicate a diminution of consumer enthusiasm for BTC.

bitcoin price

the current Bitcoin The price is $16,542, and the 24-hour trading volume is $19 Billion. Bitcoin is mostly unchanged over the past 24 hours, with a surge in gains and losses that aren’t significant.

Coinmarketcap currently ranks first with a live market cap of $317 billion. It has a maximum supply of 21,000,000 BTC coins and a circulating supply of 19,217,300 BTC coins.

Bitcoin Price and Tokennomics – Source: Coinmarketcap

Over the weekend, BTC/USD is trading choppy in a narrow trading range from $16,300 to $16,800. To predict future trends, Bitcoin The trading range mentioned earlier has to be crossed.

in a time frame of 4 hours, BTC/USD The pair is currently trading above the 23.6% Fib retracement level of the $16,400 level, and a breakout of this level could set the next trading range.

If bitcoin breaks below the 23.6% Fib level, it will come in contact with the 38.2% Fib level at $16,275 and the 61.8% Fib level at $15,900.

Bitcoin Price Chart – Source: Tradingview

Key technical indicators, such as the RSI and MACD, are oscillating between buy and sell ranges, indicating investor indecision.

On the other hand, the 50-day moving average is keeping BTC supported near $16,450, indicating high potential for an upward continuation.

If buyers enter the market, a bullish break of the $16,785 level could send BTC towards $17,000 and even higher towards $17,850.

Cryptocurrency Pre-Sale With Huge Profits

Despite the market downturn, some coins have a lot of potential. Let’s take a closer look at them.

Dash 2 Trade (D2T)

dash 2 business Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.

Dash 2 Trade, a platform for crypto trading intelligence and signals, has sparked investor interest after raising $7 million in just one month. As a result, the D2T team has decided to drop it to Phase 4 and reduce the hard cap target to $13.4 million.

Dash 2 Trade has also been successful, with two exchanges (LBank and BitMart) pledging to list the D2T token after the presale ends. The price of 1 D2T is currently 0.0513 USDT, but it will increase to $0.0533 in the final phase of the sale.

D2T has raised over $7 million to date by selling over 82% of its tokens.

Visit Dash 2 Trade Now

Robotera (Tarot)

robot era (TARO) is a sandbox-style metaverse with an alpha version set to launch in the first quarter of 2023.

On its platform, gamers will be able to play as robots and help build its virtual world, which will include NFT-based land, buildings and other in-game items.

TARO has already raised over $240,000, and 1 TARO is usually sold for 0.020 USDT (it can be bought with either USDT or ETH), but this price has increased during the second phase of its pre-sale. $0.025, which will start soon.

Visit Robotera now

Calvaria (RIA)

calvaria There’s a brand new bitcoin gaming company with the potential to dominate the play-to-earn market. According to Calvaria (RIA) developers, the need for cryptocurrency to play has proven to be a significant barrier to widespread Web3 gaming adoption.

More information is available from Calvaria Here,

As a result, the game will have both a free-to-play and a pay-to-win mode, with the free-to-play mode available to players without cryptocurrency.

Since its inception, the pre-sale has raised nearly $2 million and is now in its final stages after the developers decided to end it early. The presale was to last ten stages and offer 300 million RIA tokens.

However, the developers have decided to replace the presale offering, which means that Phase 5 will be the last chance for investors to buy RIAs before the public market release, where prices are expected to rise.

Visit Calvaria Presale Now

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: cryptonews

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