On November 30, the Bitcoin price prediction was bullish as BTC crossed the triple-top resistance level of $16,680. Bitcoin (BTC) has extended its previous rally and has reached an intra-day high above the $17,000 mark.
Upbeat Crypto Market
The global cryptocurrency market has performed admirably and has received assistance from an unknown source. However, its rise could be linked to Federal Reserve Chair 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 gainer, with a 24-hour increase of more than 9.50%. As a result, the bullish crypto market was viewed as a key factor in keeping BTC prices higher.
Genesis is Attempting to Avoid Bankruptcy
Genesis, a cryptocurrency brokerage in the United States, announced on Wednesday that it was attempting to avoid bankruptcy, following a report on Tuesday by Bloomberg News that the company’s creditors were banding together with restructuring attorneys to avoid insolvency.
The unexpected failure of FTX, which has approximately $175 million in frozen funds in its derivatives division, prompted Genesis Trading, a US-based digital asset broker, to block customer redemptions earlier this month.
It halted redemptions shortly after revealing on Nov. 10 that it had $175 million locked up in an FTX trading account and had warned prospective investors that if its efforts to obtain funds failed, it might have to file for bankruptcy.
Since Sam Bankman-FTX Fried’s empire collapsed earlier this month, the price of cryptocurrencies has been under pressure.
Investors are now looking at other cryptocurrency companies to see how far the ripple effect can go. The global market capitalization of all cryptocurrencies today remained below $1 trillion, according to the most recent data, after rising to $895 billion the day before.
Bearish US Dollar Underpins Crypto
Another important factor supporting Bitcoin prices is the weakening of the US dollar, which fell from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell.
The US dollar index, which measures how the dollar performs against six major currencies, fell 0.22% to 106.64 after reaching a high of 106.90 overnight.
Powell will speak about the state of the economy and labor market at the Brookings Institution in Washington at 18:30 GMT.
According to financial markets, the Federal Reserve will only raise interest rates by a half-point on December 14, with a 36.5% chance that rates will rise by another 75 basis points.
The current Bitcoin price is $16,878 and the 24-hour trading volume is $24 billion. During the last 24 hours, the BTC/USD pair has surged over 2.25%, while CoinMarketCap currently ranks first 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, the BTC/USD is trading bullish after breaking above a major double top resistance level of $16,600. A breakout above this level exposes BTC’s price to the next resistance level of $17,250.
Bitcoin Price Chart – Source: Tradingview
On the downside, support remains around $16,650, a double-bottom resistance level now acting as a 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 worth more than $16,650 right now.
Whales are Looking at These Altcoins
Despite the market downturn, these coins are doing particularly well, catching the attention of crypto whales.
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 native D2T token, which is set to go live in the first quarter of 2023, has already raised over $7.5 million.
It has also announced BitMart and LBANK Exchange listings for early next year, giving early investors a good chance to profit.
The sale of its native D2T token, which is set to launch in the first quarter of 2023, has already raised more than $7.5 million. It has also announced BitMart and LBANK Exchange listings for early next year, giving early investors a good chance to make some decent returns.
RobotEra (TARO) is a Sandbox-style Metaverse whose alpha version will be released in the first quarter of 2023. On its Ethereum-based platform, gamers will be able to play as robots and contribute to the creation of its virtual world, which will include NFT-based land, buildings, and other in-game items.
1 TARO is currently available for purchase for 0.020 USDT (it can be purchased with either USDT or ETH), but this price will rise to $0.025 during the second stage of its presale, which will begin soon. It’s presale is going really well and its presale has already raised over $286,000.
Calvaria (RIA) is a blockchain-based card-trading game in which players compete to earn rewards by battling with NFT-based cards. One of its most intriguing features is that it allows players to play without the need for cryptocurrency, which may help it gain traction over other crypto-based titles.
The presale for the token has raised $2.1 million and is currently in its fourth stage, during which 40 RIA can be bought with 1 USDT.
In order to kick off the project with a promising start, the team has chosen to launch a $100k giveaway in RIA tokens for the community. The reward will be distributed to participants in the ecosystem who hold at least $100 worth of RIA tokens over the next few weeks.
First place will receive $70,000, second place $20,000, and third place $10,000, respectively.
Find The Best Price to Buy/Sell Cryptocurrency
Cryptocurrency Price Tracker – Source: Cryptonews