HomeCryptoBitcoin Price Prediction BTC Jumps 6% From Recent Lows – Big Move...

Bitcoin Price Prediction BTC Jumps 6% From Recent Lows – Big Move Coming?


On Sunday, November 20, the total volume of the cryptocurrency market is $821 billion, down 1.93% from yesterday. The market cap of DeFi coins fell by 1.83%.

Bitcoin, the leading cryptocurrency, is mostly unchanged, up 6% from a recent low of $15,828. As Bitcoin has remained below $17,000 for days, there has been no significant movement in the asset.

With trading volumes this low, this was to some extent expected. This has a domino effect on altcoins, with Ethereum (ETH) in particular struggling to hold above $1,200.

Let’s take a look at the main events affecting the cryptocurrency market today.

The gray color avoids the evidence of Reserves, causing fear of collapse

Grayscale’s impending collapse is all the more worrying as the Bitcoin fund refuses to disclose proof of reserves.

When asked why it couldn’t publish its wallets on November 18, the investment firm took to Twitter to blame security concerns for the uproar. Since Grayscale and Genesis are both owned by Digital Currency Group, doubts have been raised about the company’s financial stability.

The cryptocurrency world wondered how this might affect Grayscale and its flagship product, GBTC. News that Genesis was unable to raise $1 billion without stalling withdrawals also fueled the flames.

On its Twitter page, Grayscale claims to create a separate company for each product. It argued that the sale of the underlying assets could not take place due to regulations governing digital asset offerings. It is also noted that Coinbase Custody Trust Company is the custodian.

Neither Grayscale nor its core business owns the Bitcoins used to back the GBTC product.

Grayscale’s Twitter thread then noted:

“Due to security concerns, we do not publicly release on-chain wallet data and validation data through cryptographic Proof of Stake or other advanced cryptographic accounting techniques.”

Exchanges such as Binance, Huobi and Crypto.com have introduced proof of reserves to gain community trust.

Thus, the expected collapse of Grayscale keeps the uptrend of the cryptocurrency market limited.

Kraken founder Jesse Powell predicts the next “big thing.”

An industry veteran after the collapse of FTX Jesse Powell shares his thoughts on the current climate of the crypto sector and offers a prediction on what will bring the market out of the bear market.

As Powell explains in a new interview for the Bankless podcast, it will take time for the sector to recover from the FTX disaster, due to the billions of dollars in losses and the need to rebuild its reputation.

Bitcoin (BTC) halving, expected to occur in the first half of 2019, has been cited by the founder of Kraken as a potential next bullish driver for cryptocurrency markets.

Bitcoin Price Prediction

current Bitcoin the price is $16,553, and the 24-hour trading volume is $18 billion. Bitcoin is down more than 0.50% in the previous 24 hours. CoinMarketCap is now number one with a live market cap of $318 billion. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,212,587 BTC coins.

Bitcoin Price and Tokenomics – Source: Tradingview

Bitcoin price is currently consolidating in a wide trading range of $15,800 to $17,200. As the price of Bitcoin has broken below the 23.6% Fibonacci level of $17,250, the possibility of a downside remains high until the next support area of ​​$15,800.

On the downside, Bitcoin’s immediate support is at $14,530, and if the downtrend continues, the price may fall to $13,850. As the RSI and 50-day moving average show a downward trend, if it fails to hold the existing support, the price of Bitcoin may fall below $15,830.

Bitcoin Price Chart – Source: Tradingview

However, selling bias is still below $17,250 today. On the other hand, an increase in BTC demand could push the BTC/USD price above $18,250 and closer to $20,000.

The best cryptocurrency coins before the sale

Given the recent slowdown in the cryptocurrency market, you may be wondering which coins have good upside potential.

Let’s talk about the best cryptocurrencies that are currently on sale and have high upside potential.

Dash 2 Trade (D2T)

Dash 2 Trading It is an Ethereum-based trading intelligence platform that provides traders of all skill levels with real-time analytical and social data, enabling them to make more informed decisions.

It launched its token sale three weeks ago and raised more than $6.6 million. It also announced the launch of its first CEX listing LBank exchange.

1 D2T is currently worth 0.0513 USDT, but it is expected to rise to $0.0533 in the next phase of the sale and $0.0662 in the final phase.

Visit Dash 2 Trade now

Calvary (RIA)

Calvary is a new cryptocurrency gaming project with the potential to dominate the gaming profit market.

According to the developers of Calvaria, one of the main obstacles to the widespread adoption of Web3 games is that the games require users to have technical knowledge of cryptocurrency. As a result, many users are excluded.

Calvaria allows non-crypto users to participate in the game, setting it apart from the competition and opening the game to a whole new audience. RIA’s resale is growing rapidly, the project is now in phase 4 of 10 with approximately $1.8 million in funding.

Currently, the price of 1 RIA token is $0.025 USD, but this will gradually increase with each subsequent phase of the presale, which is currently in phase 4.

Visit the Calvaria Presale now

RobotEra (TARO)

Another project that has the potential to change the gaming community and the virtual world is RobotEra (TARO). Although the pre-sale of the asset has only recently started, there is already a lot of interest from potential buyers.

The native token of the platform is TARO, which is a blockchain-based Metaverse where users can create avatars and explore the digital world. In RobotEra, players can buy land, build on it, and expand their region with various assets.

RobotEra also has a shared metaverse where users can participate in various activities such as sports, concerts and other competitive events. The first stage Presale of TARO live now and selling fast.

Visit the RobotEra Presale now

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

Source link