The price predictions of Bitcoin on this December 23 remain neutrals below $17,000, as the market has a low trading volume ahead of the Christmas holidays. Ethereum is also steady at just over $1,200. Benjamin Cowen, a well-known cryptocurrency expert, recently said that bearish traders are getting tired as the price of Bitcoin (BTC) has already plunged more than 75% from its peak. at $69,000 observed last year.
On December 23, the market for major cryptocurrencies remained virtually flat at a capitalization of $810.53 billion. In the past 24 hours, the total trading volume reached almost $29 billion, which is 12% more than yesterday.
Overall DeFi volume was $1.63 billion, or 5.64% of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $26.33 billion, which is 90.97% of the total 24-hour volume.
After a 75% loss from its high, BTC’s decline looks exhausted
Benjamin Cowen, a reputable cryptocurrency expert, recently said that bearish traders were tired of seeing the price of Bitcoin drop more than 75% from its all-time high of over $69,000 last year. Cowen’s latest video, just released, shows that investors betting on BTC’s decline have lost ground as the price drops. For this, it examines the supply and the ratio of gains and losses of Bitcoin.
To paraphrase Cowen, “as we sink deeper and deeper into a bear market,” as the Daily Hodl reports, those who pat on the downside lose more and more of their ability to make gains. For him, “the bullish investors kind of neutralized the bearish ones.”
He predicted that once bullish investors begin to take over the market, a “long period of accumulation” will begin, and Bitcoin price will gradually rise in preparation for a new bull cycle. Despite the unprecedented difficulties faced by the sector, he says that the current BTC market is eerily similar to the previous crisis and that one should not draw too gloomy a premonition.
The price of bitcoin
the current price of a bitcoin is of $16,827 and the trading volume in the last 24 hours is $16 billion. Its live market cap is a total of $323 billion.
If the BTC/USD pair breaks above its current resistance at $17,000, it will almost certainly continue higher. rise towards the new resistance at $17,500.
On the other hand, in the event of a drop below $16,500, the next support level is at $16,320 and will be reached quickly.
The 50-day moving average continues to put pressure on Bitcoin, although the RSI and MACD are both in a positive buy zone. Market uncertainty is such that the current price of $17,000 is likely to be decisive for Bitcoin.
The price of Ethereum
The current price of Ethereum is $1,222, with a 24-hour trading volume of $5.5 billion. In the past 24 hours, Ethereum gained nearly 0.30% and currently ranks second among cryptos, with a market capitalization of $149 billion.
On the 4-hour chart, Ethereum is still struggling around $1,220, and the bearish candlesticks that have formed may indicate a fairly likely downside correction.
In this case, the immediate supports for Ethereum are between $1,150 and $1,180.
If the support level of $1,180 is broken, we should expect to go down to $1,150. If the price of Ethereum quickly rises above $1,220 in a frank way, the uptrend could continue untilETH exceeds $1,270.
Other high-profit cryptos
The global cryptocurrency market is uncertain, but a few new cryptos are making headlines. Let’s explore the possibility of taking advantage of it!
FightOut (FGHT) – Presale launched
With the launch of its presale, Fight Outan M2E fitness app and gym chain that aims to bring the fitness lifestyle to the web3, has caught the eye of investors who believe the company has the potential to disrupt the existing web3 M2E landscape.
FightOut takes a more holistic approach to tracking and paying users for exercise and activity than other M2E apps like StepN, which only count steps and require expensive non-fungible token (NFT) purchases to participate.
The FGHT token is the fuel of the decentralized platform FightOut. Investors are encouraged to act quickly to acquire their FGHT tokens at the current price of 60.06 FGHT for 1 USDTas the presale raised over $2.70 million in just a few days.
Dash 2 Trade (D2T) – Presale enters its final phase
In our opinion, Dash 2 Trade is the most promising cryptocurrency trading platform available today. The new social analytics and trading platform has the potential to revolutionize the cryptocurrency trading industry.
Features include a pre-sale token rating system, token list alert system, strategy backtesting tool, and social and on-chain sentiment indicators for trading. Users will need to acquire and hold D2T tokens in order to use Dash 2 Trade services.
At dramatically discounted prices, the Dash 2 Trade token presale has already topped $10.5 million in sales. The token sale has started and over the next 30 days, you will be able to buy them on several centralized exchanges for $0.0533 each.
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Calvaria (RIA) – Final presale phase now
The new RIA crypto card battle game is a distinct possibility. The goal of Calvaria is to expand the audience of cryptocurrencies by creating a connection between the real world and cryptocurrencies through a fun and easy to learn crypto game. The RIA token presale by Calvaria could be of interest to investors.
With $2.5 million raised and only 18% of tokens leftCalvaria’s fundraising campaign is coming to an end.
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