Bitcoin price and Ethereum prediction; Is it a good time to shop on Christmas Day?
Bitcoin the price prediction remains neutral in the Asian session on December 25, Christmas Day, as BTC continues to consolidate in a narrow range of $16,750-$17,000. The global financial market appears to be experiencing minimal volatility and trading activity on Christmas Day, which is dampening price action. In the same way, Ethereum remained relatively stable at $1,218.
Let’s take a look at the fundamental outlook for Bitcoin and Ethereum today.
Bloomberg’s top strategist says Ethereum will outperform Bitcoin
Bloomberg Senior Macro Strategist Mike McGlone predicts that Ethereum, the second-largest cryptocurrency by market capitalization, will overtake Bitcoin in the next bull market.
According to McGlone’s latest market forecast analysis, Ethereum has shown greater sustainability than Bitcoin and other risky assets, suggesting it “could be a strong contender to continue outperforming the firstborn crypto.” .
As of this writing, Bitcoin is down around 76% and Ethereum over 75% from their respective highs in November 2021. Ethereum’s annual volatility is around 1.3%, which which makes it more volatile than bitcoin.
And so, while Ethereum is currently heavily discounted, McGlone pointed out that the ETH/BTC cross rate has remained unchanged at 0.08 since May 2021, when the Nasdaq 100 stock index was around 20% higher, suggesting that ETH is likely to resume its appreciation if volatility is any indication.
the current price of one bitcoin is $16,835 and the trading volume in the last 24 hours is $9.6 billion. CoinMarketCap is ranked first with a live market capitalization of $324 billion. Bitcoin’s market dominance fell further from 40.50% to 39.96%.
The technical outlook for Bitcoin remains mostly unchanged. If the BTC/USD pair crosses $17,000, it will almost certainly continue to rise towards the $17,500 mark. If Bitcoin breaks below $16,500, the next level of support will be $16,320.
Despite the fact that the RSI and MACD are both in the positive buy zone, the 50-day moving average continues to weigh on Bitcoin. Keep an eye out for today’s price of $17,000, which will likely be a watershed moment for Bitcoin.
Ethereum the current price is $1,219, with a 24-hour trading volume of $2.5 billion. In the past 24 hours, Ethereum has gained nearly 0.20% and CoinMarketCap currently ranks second, with a live market cap of $149 billion.
On the 4-hour chart, Ethereum fought below $1,220, and the closing doji and bearish engulfing candle indicate a likely negative reversal. The short-term supports for Ethereum are $1,180 and $1,150.
If the $1180 support level is breached, the downtrend may extend to $1150. If Ethereum prices rise above $1,220, the upward trend may continue until Ethereum prices reach $1,270.
High Performance Alternative Parts
Despite the broad decline of the bitcoin market, only a few coins are attracting attention.
Fight Out (FGHT) is movement-to-earning software that rewards users for participating in activities such as boxing, weightlifting, and yoga. It will be built on Ethereum and launch in Q2 2023, offering a choice of integrated and in-person classes, with plans to open up to 20 of its own branded gyms and affiliate with many more.
It has already raised over $2.3 million through its token sale, which kicked off last week. The current sale price is 60.06 FGHT for $1 (FGHT can be acquired using ETH or USDT), but this will increase in the next stages of the sale.
Trade Dash 2 (D2T)
Dash 2 Exchange is another Ethereum-based platform that when launched early next year will provide real-time analytics and social trading data. Trading signals, on-chain analysis, strategy-building tools, and news feeds will be among its initial features, which will help both new and experienced traders keep up with the turbulent bitcoin market.
The company’s D2T token sale raised over $10.7 million and is expected to close in just 13 days, providing early investors with a rapidly closing window of opportunity.
On January 11, the altcoin will be listed on its first exchange, with LBANK Exchange, Changelly Pro and Bitmart confirmed as the first trading platforms to offer it.
C+Fees (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. Its aim, which should start in the second quarter of next year, is to improve 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 spread.
1 CCHG is available at $0.013 and can be purchased with BNB or USDT.
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