On the morning of this January 7, BTC consolidates just below the $17,000 level and the close of the candles above $16,750 keeps the Bitcoin price forecast on the upside. At $16,947, Bitcoin appreciates 0.9% from yesterday at the same time. Tim Draper, a venture capitalist, has been an investor who has consistently bet on Bitcoin despite the major cryptocurrency falling 60% in 2022.
Draper predicts that the value of Bitcoin could reach $250,000 over the coming year. “Tim Draper had one of the most positive bitcoin predictions of 2022,” CNBC said, “predicting the token to be worth $250,000 by the end of the year.” Although bitcoin’s value reached around $70,000 at the end of 2021, it experienced a precipitous decline in 2022, prompting Draper to confirm his prediction for the following year.
Last year, Bitcoin followed the fall of stocks and bonds as rising inflation dampened investor enthusiasm for virtually all investment assets. Bitcoin price continued to decline after cryptocurrency exchange FTX went bankrupt. To date, however, Draper remains committed to his bold predictions for 2023.
US Department of Justice to seize Robinhood shares linked to FTX
During a court hearing into FTX’s bankruptcy in Delaware on Jan. 4, Seth Shapiro, a lawyer for the U.S. Department of Justice, said that the US government was in the process of seizing 56 million shares of Robinhood Markets. The shares are worth around $460 million and are linked to FTX founder Sam Bankman-Fried (SBF).
According to a filing Robinhood filed with the Securities and Exchange Commission (SEC) in May last year, Bankman-Fried was the sole director and majority owner of the companyand Emergent Fidelity Technologies bought a 7.6% stake in the company.
FTX’s current management, Bankman-Fried, a specific FTX creditor, and cryptocurrency lender Blockfi, which also filed for bankruptcy in November last year, have now challenged ownership of Robinhood shares.
The new management of FTX asked the Delaware bankruptcy court to keep assets frozen until the court can address the concerns in a way that is fair to all creditors. This is due to multiple parties claiming Robinhood actions.
The next court date is set for January 20, 2023 and the sitting judge set aside all day to focus on FTX, Robinhood stocks and any new developments in the case.
The cryptocurrency market has fallen precipitously since FTX went bankrupt. Moreover, any information about it can have a significant impact on the entire cryptocurrency market and Bitcoin.
The price of bitcoin
The current price of bitcoin is $16,947, with a trading volume of $13 billion in the last 24 hours. Bitcoin failed to break through the $17,000 psychological resistance level.
On the 4-hour timeframe, BTC is positive due to a bullish channel, so a close above $16,775 could trigger a retracement.
If Bitcoin breaks below $16,775 today, it could drop to a price of $16,450, the next level of support. Keep an eye out for the $16,775 price action: if BTC continues to show a buying trend above this level, it may continue to climb for a few days.
Cryptocurrencies to follow to make profits
The global cryptocurrency market is uncertain, but a few new cryptos are making headlines and are interesting to follow. Let’s explore the possibility of taking advantage of it!
Fight Out (FGHT)
The Fight Out Platform (FGHT) works the same way as a personal sports trainer, except that the FGHT token is the reward given for exercise periods. All activities are recorded and can be used to improve the statistics of his metaverse avatar. The possibility of earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while enjoying the benefits of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, Fight Out was successful and attracted investors. Thanks to its token sale, which started last week, it has already been raised over $2.6 million. The current sale price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT), but this will increase as the selloff progresses.
Dash 2 Trade (D2T)
Dash 2 Trade is another Ethereum-based platform that upon its launch early next year, will provide real-time analytics and social trading data. Trading signals, on-chain analytics, strategy building tools, and news feeds will be among its initial features, helping new and experienced traders follow the volatile cryptocurrency market.
The D2T token sale raised over $13.4 million and is expected to close tomorrow, providing early investors with a window of opportunity that will quickly close. On January 11, the altcoin will be listed on its first exchangewith LBANK Exchange, Changelly Pro and Bitmart confirmed as the initial trading platforms to support it.
To accommodate those who may have missed the initial investment window, the Dash 2 Trade team decided to host a 5th step (or “overfunding round”) of the presale during which An additional 36,000,000 tokens will be sold at a price of $0.0556. to raise an additional $2,001,600.
D2T is overfunded at a price 4% higher than its previous price of $0.0533. The current fundraising total for the project is $15,421,600.
C+Charge (CCHG) is a peer-to-peer payment system based on Binance Chain for electric vehicle charging stations (VE). Its aim, which should start in the second quarter of next year, is to increase access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.
The platform has already struck a deal with Perfect Solutions Turkey, which will add 20% of Turkey’s EV chargers to its network, indicating how quickly it could grow. 1 CCHG is currently sold at $0.013 and can be purchased with BNB or USDT. The presale has already raised over $90,600.