During the European session, the Bitcoin price forecast has not changed much today, as BTC continues to trade above the major support level of $16,550. Given the breakdown technical indicators, the market is waiting for a key signal on the chain before it turns into a classic bull market.
On December 17, Pool Multiple’s developer tweeted that he believes the current BTC price decline is coming to an end. However, not everyone is pessimistic about Bitcoin’s future, although many are predicting a BTC/USD decline of $12,000 or less this cycle.
According to the pool, two key on-chain events have already occurred and will be critical to the recovery of the BTC price.
Even though Bitcoin is down 70% from its all-time high, many long-term holders (LTHs) are still holding on to their coins. Short-term “speculations” have also been hit hard by the current devaluation.
Poole thinks the only thing missing is increased networking activity across the board.
The Mazars team works with all crypto companies to stop
Mazars Group, an accounting firm, has temporarily stopped serving cryptocurrency clients. After the international accounting company published “backup proof” reports for several cryptocurrency exchanges, Binance, KuCoin and Crypto.com decided to break ties.
The move comes as major cryptocurrency exchanges show they can establish financial stability and meet withdrawal requests without incurring losses.
The CEOs of Binance and Crypto.com tried to separate their companies from FTX, which misused the utility fund for years before filing for bankruptcy.
Sam Bankman-Fried, who started the company, has been charged with multiple counts of fraud and money laundering. Mazars cut ties with the company in February amid concerns over the integrity of the Trump Organization’s financial records.
In a statement to CNBC, Mazars Group said it has “paused its work related to issuing reports for enterprises in the cryptocurrency sector” because of “concerns about how the public will understand these reports.”
This will add bearish pressure on the cryptocurrency market and keep BTC bearish.
Bitcoin price prediction
The current price of Bitcoin is $16,730 and the 24-hour trading volume is $22 billion. Since yesterday, the price of Bitcoin has decreased by 1.5%.
On Saturday, the BTC/USD pair is expected to find immediate support near $16,560. As the RSI and MACD indicators are in the oversold zone, BTC prices may rise towards the 23.6% Fibonacci retracement level to $17,000.
Additionally, the BTC/USD pair may face new resistance at the 38.2% Fibonacci retracement point and the extended 50-day simple moving average at $17,250.
On the other hand, a break below $16,570 could expose BTC to $16,150.
Alternative coins with high profits
A few coins are making headlines in terms of risk sentiment in the cryptocurrency market. Let’s check them out!
FightOut (FGHT) – Pre-sale begins
FightOut, a new activity-to-get (M2E) fitness app and gym chain that aims to bring the fitness lifestyle to the web3, has launched pre-sales and investors believe the project has the potential to change the existing web3 M2E landscape. .
While existing M2E apps like StepN only track steps and require inexpensive token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding users for physical activity and activity, and requires no expensive purchases. – ins.
FightOut’s FGHT tokens are currently selling at 60.06 USDT per 1 USDT, and interested investors should act fast to secure their tokens as the pre-sale raised over $2.8 million in just a few days. The FGHT token powers the FightOut crypto ecosystem.
Visit FightOut now
Dash 2 Trade (D2T) – pre-sale entered the final stage
Dash 2 Trade is a promising crypto trading platform startup for anyone who wants to invest. The upcoming analytics and social trading platform is destined to take the crypto trading sector by storm.
Among its features are trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy backtesting tool. The D2T token fuels the Dash 2 Trade ecosystem, which users must purchase and hold to enjoy the platform’s services.
Dash 2 Trade is now hosting a token pre-sale at a deeply discounted price, with sales recently exceeding $10 million. The pre-sales dashboard goes live on Friday, and the development team is ahead of schedule. Tokens are available for purchase at $0.0533 per token and will be listed on multiple centralized exchanges within the next month.
Visit Dash 2 Business here
Calvaria (RIA) – Final pre-sale stage now
RIA, a new game-to-find fighting card crypto game, may be. Kalvaria’s goal is to create a bridge between the real world and crypto by creating a fun and easy-to-play crypto game. Investors can browse the Calvary RIA token pre-sale.
Calvaria has now received $2.47 million and is nearing the end of its fundraising campaign, with only 20% of tokens remaining.
Visit Calvary now