• News
    • Bitcoin
    • Altcoins
  • Blockchain
  • NFT
  • Metaverse
  • Regulation
  • Learn
  • Market Cap
What's Hot

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02
Facebook Twitter Instagram
Top Coin Spot
  • News
    • Bitcoin
    • Altcoins
  • Blockchain

    peaq & Fetch.ai Unveil Multi-Chain IDs for Vehicles & Devices on Polkadot-Cosmos Ecosystems

    2023-06-13

    Taiwan Mobile Considers Partnerships with Local Cryptocurrency Platforms

    2023-06-13

    Biconomy Collaborates with SPACE ID to Support Withdrawals to Domain Names .arb and .bnb

    2023-06-13

    BNB Chain Deploys BEP-126 Update to Enhance Security and Reliability

    2023-06-13

    PawChain Sets to Revolutionize Blockchain Utilities

    2023-06-12
  • NFT

    Animoca Brands to Create Web3 Digital ID System

    2023-09-12

    Generative AI Could Make Government Mechanism Less Annoying

    2023-09-12

    Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

    2023-09-11

    Exploring Communion In Collaboration with AI

    2023-09-09

    Christie’s Honors Keith Haring at The Gateway: Korea

    2023-09-09
  • Metaverse

    Mark Zuckerberg’s Vision for Remote Work: Meta’s Headsets and the Future of Work

    2023-10-01

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-29

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25
  • Regulation
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    Who Is Satoshi Nakamoto? Mysterious Bitcoin Founder

    2023-09-25

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18
  • Market Cap
Top Coin Spot
Home»Bitcoin»Bitcoin Price Trends Below $17,000, What’s Ahead For The Crypto King?
Bitcoin

Bitcoin Price Trends Below $17,000, What’s Ahead For The Crypto King?

2022-11-17Updated:2022-11-17No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Bitcoin and crypto market has been risky for many of 2022. Judging from the extended bear market, most specialists have been optimistic that it was near an exit level. Nonetheless, current developments within the crypto world and macro-financial actions have extended the downtrend.

The feds’ charge hike continues to have an effect on crypto property adversely. XRP’s case with the SEC additionally has harm crypto holdings. With their current victory over crypto giants LBRY, the XRP case is seen with anxiousness.

XRP and LBRY circumstances bear hanging similarities, though the XRP’s authorized staff has expressed confidence of their possibilities.

Extra just lately, FTX’s collapse has additionally despatched traders right into a withdrawal frenzy, preferring to carry their property. As well as, belief in central exchanges is now at an all-time low and has known as to query the legitimacy of cryptocurrencies.

Prior to now 24 hours, costs of cryptocurrencies have considerably modified, with modifications recorded in most tasks.

Bitcoin’s Worth Drama

BTC worth recorded a short bullish rally credited to the tweets of Elon Musk and Binance’s CEO Changpeng Zhao. Zhao talked about creating an trade restoration fund to assist crypto tasks which can be robust however face liquidity issues.

This announcement comes on the heels of the FTX catastrophe and Binance’s proposed bailout that was suspended.

Elon Musk had responded to a tweet from Michael Saylor about changing his Tesla holdings to Bitcoin and its constructive impact on the Market. The Twitter change between the 2 entrepreneurs created a short rally for the world’s primary cryptocurrency.

See also  Bitcoin plunges to $26k, leads crypto bloodbath

Bitcoin’s worth recorded an intraday excessive of $17,190. Nonetheless, it couldn’t face up to the resistance and succumbed to bearish stress falling to $16,191 subsequently. BTC’s worth has barely recovered and is at the moment buying and selling at $16,713.

The overall market capitalization for crypto is across the $890 billion mark. These figures present a $10 billion improve out there cap. Nonetheless, Bitcoin’s dominance took successful and is at the moment at 36.6%.

With the present risky market section, traders will possible proceed cautiously as occasions unravel. Nonetheless, Bitcoin will possible lead the rally if the costs get well within the coming days.

Bitcoin Worth Efficiency

Bitcoin’s current worth efficiency exhibits that the coin is observing a worth downtrend. The FTX collapse may also have aided this downward spiral. Traders have gone brief on shedding positions to chop losses and forestall whole chapter.

Bitcoin’s present help ranges are at $16,265 and $16,404.8. Nonetheless, market volatility can have a say in Bitcoin worth, with the coin crossing the crucial pivot level of 16541.7.

Bitcoin Price Trends Below $17,000, What's Ahead For The Crypto King?
Bitcoin worth declines by 1% on the candle l BTCUSDT on Tradingview.com

The MacD indicator clearly exhibits Bitcoin’s transient rally and descent into a whole bearish section. The volatility is excessive, and a dangerous funding for traders since an extra drop continues to be possible.

The SMA 50 and 200 additionally replicate the bearish pattern of BTC and can possible proceed their descent on the chart. It’s not possible that bitcoin will go on a bullish spree.

Featured picture from Pixabay, chart from TradingView.com

Source link

Ahead Bitcoin Crypto king Price Trends Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02

Bitcoin Price Skyrockets Past $28,000, Here’s Why

2023-10-02
Add A Comment

Leave A Reply Cancel Reply

Top Posts

NFT Sales Witness 23% Decline This Week, Ethereum Dominates With $130 Million in Sales

2023-07-08

XCLUSIVERSE is Bringing the Future Closer by Offering Practical Solutions to Businesses

2022-11-30

Policy could impact digital identity

2023-05-08

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02
Get Informed

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Topcoinspots.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,832.002.71%
  • ethereumEthereum(ETH)$1,660.26-0.93%
  • USDEXUSDEX(USDEX)$1.080.18%
  • tetherTether(USDT)$1.000.14%
  • binancecoinBNB(BNB)$214.440.28%
  • rippleXRP(XRP)$0.51-0.48%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • staked-etherLido Staked Ether(STETH)$1,667.24-0.56%
  • solanaSolana(SOL)$23.422.97%
  • cardanoCardano(ADA)$0.2613390.72%