On November 30, the Bitcoin price forecast was bullish as BTC crossed the triple-high resistance level of $16,680. Bitcoin (BTC), the world’s largest and most popular digital token, has extended its previous winning streak, hitting an intra-day high above $17,000.
After starting the week at a low of $16,054, BTC is close to $17,000 in the past 24 hours. If the price continues to rise, more bulls may enter the market, which could push BTC above $17,500 in the near future. Meanwhile, Ethereum, the second largest cryptocurrency, has rallied and is now trading above $1,270.
However, the reason for the upward rally can be attributed to the positive sentiment in the cryptocurrency market, which tends to support many cryptocurrencies, including Bitcoin. The global cryptocurrency market cap was $852.17 billion, up 2% in the past 24 hours.
Upbeat crypto market
The global cryptocurrency market has performed admirably and received help from an unknown source. However, its rise may be related to Federal Reserve Chairman Jerome Powell’s upcoming speech.
In addition, other well-known cryptocurrencies such as Dogecoin (DOGE), Ripple (XRP) and Litecoin (LTC) have also seen gains. The Fantom (FTM) token ended up being the biggest winner, rising more than 9.50% in 24 hours. As a result, the bullish crypto market was seen as a major factor in keeping BTC prices higher.
Genesis is trying to avoid bankruptcy
Genesis, a cryptocurrency brokerage in the United States, announced on Wednesday that it is seeking to avoid bankruptcy following a report on Tuesday from Bloomberg News that the company’s creditors were working with restructuring lawyers to avoid insolvency.
The unexpected bankruptcy of FTX, which has about $175 million in frozen funds in its derivatives division, led Genesis Trading, a US-based digital asset broker, to freeze client redemptions earlier this month.
It halted redemptions shortly after disclosing on Nov. 10 that it had locked up $175 million in an FTX trading account and had warned potential investors that if its attempt to raise money failed, it might have to file for bankruptcy.
Since the collapse of Sam Bankman-FTX Fried’s empire earlier this month, the price of cryptocurrencies has been under pressure.
Investors are now looking to other cryptocurrency companies to see how far the ripple effect can go. The global market capitalization of all cryptocurrencies remained below $1 trillion today, according to the latest data, after rising to $895 billion a day earlier.
Bearish US dollar supports crypto
Another important factor supporting Bitcoin prices is the weakening of the US dollar, which fell from a week-long high on Wednesday ahead of a speech by Federal Reserve Chairman Jerome Powell.
The U.S. dollar index, which measures how the greenback is doing against six major currencies, fell 0.22% to 106.64 after hitting a high of 106.90 overnight.
Powell will speak at the Brookings Institution in Washington at 6:30 GMT on the state of the economy and the labor market.
According to financial markets, the Federal Reserve will raise interest rates by just half a point on December 14, with a 36.5% chance that rates will rise another 75 basis points.
The current Bitcoin price is $16,878 and the 24-hour trading volume is $24 billion. Over the past 24 hours, the BTC/USD pair has risen more than 2.25%, with CoinMarketCap currently holding the top spot with a live market cap of $324 billion, up from $315 billion during the Asian session. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,220,687 BTC coins.
Bitcoin Price & Tokenomics – Source: coinmarketcap
During the European session, BTC/USD is trading bullish after breaking above a key double-top resistance level at USD 16,600. A break above this level exposes the BTC price to the next resistance level of USD 17,250.
Bitcoin Price Chart – Source: Tradingview
On the downside, support remains around $16,650, a double bottom resistance level that now acts as support. The RSI and MACD indicators are still in the buy zone, indicating that the uptrend is likely to continue. Consider looking for a buying opportunity above $16,650 now.
Pre-sale of cryptocurrency with great profit
Despite the market slowdown, some coins have huge upside potential. A number of coins are in the best presale crypto. Let’s examine them in more detail.
Dash 2 Trade (D2T)
Dash 2 Trade is a trading intelligence platform that provides investors with real-time analytics and social trading data to help them make more informed trading decisions.
The sale of its own D2T token, which will go live in the first quarter of 2023, has already raised more than $7.4 million.
It also announced BitMart and LBANK Exchange listings for early next year, giving early investors a good chance to take advantage.
The sale of its proprietary D2T token, which will launch in the first quarter of 2023, has already raised more than $7.4 million. It also announced BitMart and LBANK IPOs for early next year, giving early investors a good shot at making some decent returns.
Visit Dash 2 Trade now
Robot Era (TARO)
RobotEra (TARO) is a Sandbox-like Metaverse whose alpha version will be released in Q1 2023. The Ethereum-based platform will allow players to play as robots and contribute to the creation of the virtual world, which will include NFT- based land, buildings and other in-game objects.
1 TARO is currently on sale for 0.020 USDT (it can be bought with USDT or ETH), but this price will increase to 0.025 USD during the second phase of the presale, which will start soon. The pre-sale is going very well and the pre-sale has already raised more than $286,000.
Visit RobotEra now
Calvaria (RIA) is a blockchain-based card trading game where players compete to earn rewards by battling with NFT-based cards. One of its most exciting features is that it allows players to play without the need for cryptocurrency, which could help it gain traction over other crypto-based titles.
The token presale has raised $2.1 million and is currently in its fourth phase, where 40 RIA can be purchased with 1 USDT.
To get the project off to a promising start, the team has chosen to launch a $100,000 giveaway in RIA tokens to the community. The reward will be distributed in the coming weeks to ecosystem participants who own at least $100 in RIA tokens.
First place will receive $70,000, second place $20,000 and third place $10,000 respectively.
Visit Golgotha now