Bitcoin Price Prediction $20 Billion Trading Volume Pushes BTC Back Above $17,000 – Here’s Where It’s Headed NextBitcoin Price Prediction $20 Billion Trading Volume Pushes BTC Back Above $17,000 – Here’s Where It’s Headed Next On Friday, the BTC/USD pair traded strongly bullish, rising above the $16,750 level to $17,350. However, the stronger-than-expected US PPI figures from the Bureau of Labor Statistics have triggered a minor bearish correction, causing BTC to lose nearly 1.50% in the last few hours.Producer Price Indexes - November 2022We discussed the significance of US PPI figures in my Asian session...
On Friday, the BTC/USD pair traded strongly bullish, rising above the $16,750 level to $17,350. However, the stronger-than-expected US PPI figures from the Bureau of Labor Statistics have triggered a minor bearish correction, causing BTC to lose nearly 1.50% in the last few hours.
Producer Price Indexes - November 2022
We discussed the significance of US PPI figures in my Asian session's Bitcoin price prediction. The US PPI figures rose 0.3% month over month and 7.4% year over year in December, the slowest annual rate since May 2021. Dow Jones polled analysts, who predicted a 0.2% increase.
In addition, investors will be watching the US FOMC and CPI numbers to see how the financial markets will react in the future.
SEC Offers Sample Cryptocurrency Asset Market Letters
In a new guidance issued on December 8, the Securities and Exchange Commission (SEC) required companies that sell securities to disclose to investors their vulnerability to potential risk in the cryptocurrency market.
The guidelines were released about a month after FTX, one of the world's largest cryptocurrency exchanges, declared bankruptcy after lending customer funds to a trading company run by Sam Bankman-Fried.
More than 100,000 customers have been impacted by the exchange's collapse. The advice letter serves as a template for the types of comments that a securities regulator may make to publicly traded companies.
The government requires companies to report any relationships they have with other companies that have filed for bankruptcy, had a large number of redemptions, unaccounted for crypto assets, or other major corporate compliance issues.
Gary Gensler, the SEC's chairman, denied earlier this week that the agency had failed to prevent cryptocurrency businesses from misusing clients' funds.
Furthermore, if the companies violate the law, the SEC, according to Gensler, will take additional regulatory action against them. The news is good for the crypto sector because it will increase transparency for users and encourage more investors to invest in digital currencies. As a result, BTC/USD is rising.
Bitcoin Price
Bitcoin's current price is $17,177, and the 24-hour trading volume is $23 billion. The BTC price is mostly unchanged today, having gained over 1.5% since yesterday.
The BTC/USD pair is trading with a positive bias on Friday after breaking above the $16,750 barrier. On the 4-hour timescale, Bitcoin has formed an upward channel, which is supporting the bullish trend; consequently, BTC may face resistance near the $17,400 mark.
A bullish breakout above the $17,400 level could take Bitcoin to the $17,650 level, and a bullish crossover above this level could take Bitcoin to the $18,150 level. A bearish crossover below $17,000, a level stretched by the 50-day simple moving average, can start a selling trend that could go until $16,650.
Massive Upside Potential Coins
Despite the bearish price action, the coins below are going from strength to strength, catching the attention of crypto whales.
Dash 2 Trade (D2T)
Those looking to invest in a promising crypto trading platform startup may consider Dash 2 Trade. With its unique features, the up-and-coming analytics and social trading platform intend to conquer the crypto trading industry by storm.
Trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool are among the features. Dash 2 Trade's ecosystem will be powered by the D2T token, which users must purchase and keep in order to enjoy the platform's functionalities.
Dash 2 Trade is now holding a token pre-sale at drastically reduced prices. Sales of D2T tokens have topped $9.23 million. The sale is currently in its fourth and final round, and transactions are still brisk, with $400K pouring in in the previous 24 hours. The pre-sale dashboard will be available soon, as the development team is currently ahead of schedule.
CoinCodex recently listed Dash 2 Trade as one of the 2022 presale coins.
Visit Dash 2 Trade here
IMPT - Presale Ends In 2 Days
The IMPT presale has now raised more than $15 million as early investors rush to buy the altcoin before it becomes available on exchanges in seven days. The sale is set to expire in less than three days, with confirmed listings on Uniswap, LBANK Exchange, and Changelly Pro following.
The IMPT sale has gathered speed in its final phases, as these listings have already been confirmed.
At the same time, the fundamentals of the Ethereum-based carbon credit marketplace place it in a solid position to assure long-term growth, with the platform already popular among ESG-focused cryptocurrency investors.
IMPT tokens are currently priced at $0.023, and the presale ends in around two days.
Buy IMPT Now