Skip to main content

Bitcoin (BTC) is about to close the year at 60 percent in the red

 


When is volatility coming?

Accordingly, as data from Cointelegraph Markets Pro and TradingView show, bitcoin price remains stuck in the $16,500 area.


The market-leading cryptocurrency is thus disappointing the bulls and bears, because things have been going sideways since Christmas , although traders had expected the usual push for the weekly, monthly, quarterly and annual financial statements.


“Technical resistance and liquidity on the top suggest we have a local top just below $17,000 but of course anything is possible in the Wild West,” notes Material Indicators analysts looking at the order books .


In the accompanying chart, we can see that there is little support above $16,000 while there is strong resistance at $17,000.

Former BitMEX CEO Arthur Hayes hopes Bitcoin does not slip below $15,500, the bottom the crypto market leader formed after the FTX debacle.


“If BTC can at least hold the FTX low, then that is positive. Let's wait and see what the new year brings," the crypto expert wrote on Twitter .


Meanwhile, trader Crypto Tony remains much more pessimistic and reiterates his thesis that it first has to go further down before Bitcoin can really recover.


"My medium-term forecast for Bitcoin remains that we need a retrace before we go into accumulation and then into the next bull run," Tony warns .

After all, the crypto expert Toni Ghinea is still spreading good news at the turn of the year, which he derives from the current distribution of power on the crypto market.


Because although he also bets on further losses for Bitcoin, Ghinea points out that the Altcoins are the losers in the bear market.


"Bitcoin's market dominance will continue to increase over the next few weeks while the alts continue to suffer," the expert concludes .

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FireFaucet - An earning site that pays better for some than Cointiply

Comments

Post a Comment

Popular posts from this blog

BlackRock launches crypto ETF, certifies massive growth potential for crypto market

  Influential asset manager BlackRock has launched a blockchain index fund (ETF) that offers investors a way to invest in the crypto industry without having to invest directly in related cryptocurrencies. Accordingly, the world's largest asset manager, which currently has assets worth almost 10 trillion. US dollars managed, the so-called Blockchain and Tech ETF (IBLC) was launched this week. The $4.7 million ETF does not invest directly in cryptocurrencies or crypto investment products, but instead tracks various companies within the crypto industry. The ETF is made up of 41 different securities, of which the American crypto exchange Coinbase accounts for the largest share at 11.45%. They are followed by the Bitcoin ( BTC ) mining companies Marathon Digital Holdings (11.19%) and Riot Blockchain (10.41%). To still leave room for future investments in the crypto market, the ETF has a 9.15% cash component in US dollars. In addition to the launch of the new ETF, BlackRock has also publ...
Post a Comment
Read more

Not a bear market: According to the analyst, the current BTC decline is the same as in previous Bitcoin cycles

  According to one analyst, Bitcoin is behaving the same overall this year as it has in previous cycles. Bitcoin ( BTC ) will have “at least one more boost higher” before hitting all-time highs this halving cycle, analysts are currently saying. The well-known analyst TechDev has spoken on Twitter about the current state of BTC and said that contrary to many opinions, nothing unusual has happened in BTC/USD in 2022. Bitcoin in 2021: Nothing to see here Sentiment has also taken a hit, falling 40 percent from November's all-time high of $69,000. There is still “extreme fear” in the bitcoin and altcoin market. TechDev, known for his bullish views on Bitcoin, sees no reason to worry. He analyzed the new wallet addresses in relation to course behavior and shows here that the scenario from last year was by no means an isolated case. Back then, the number of new addresses made lower highs while the price made higher highs. "In 4 of the 6 corrections, there was divergence with price ma...
Post a Comment
Read more

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more