BTC Price Prediction: Today’s Bitcoin Price, 10th Dec 2022

The price of bitcoin is currently $16,844, and daily transactions total $17 billion. Bitcoin’s price is largely stable today, with only a 0.20% increase from yesterday.

More losses are expected if Bitcoin prices remain below $16,900. A key technical resistance level. During the 4-hour period. The $16,900 level served as support and was extended by an upward trendline; however, the presence of Doji candles suggests that a downturn is developing. On the downside. The next level of Bitcoin support is $16,500. If this barrier is breached, btc price prediction today the price of BTC could fall much further, to $16,000 or $15,450.

If Bitcoin is unable to maintain its recent falling trend and instead. Shows a positive break above $17,000, a strong rally to at least $17,350 is expected. If the upward trend continues, the price of bitcoin could reach $17,650 or $18,000. Bbitcoin had a rocky first half of the year. But experts still say it will eventually hit $100,000 and that it’s more a matter of when not if.

Despite the volatility and recent slumping price. Many experts still say bitcoin is on its way to passing the $100,000 markk. Though with btc price prediction daily varying opinions on exactly when that will happen. And a recent study by Deutsche Bank found that about a quarter of bitcoin investorss. Believe bitcoin prices will be over $110,000 in five years.

The volatility is nothing new and is a big reason experts say new crypto. Investors should be extremely cautious when allocating part of their portfolio to cryptocurrency. Bitcoin has shown as steady a rise in value over the years as any other cryptocurrency on the market.

What Is Currently Causing Bitcoin’s Price Movement?

Crypto had a rough time in November.

Previously a rising star of the crypto world. Major crypto exchange FTX filed for bankruptcy on Nov. 11. Evidently, that’s had major ramifications on the crypto market. BlockFi, another major crypto exchange, and lender filed for bankruptcy last week. Other crypto entities, In Addition including major lenders like Genesis Global Trading. Are just trying to stay afloat and avoid bankruptcy of their own.

All of this commotion has made for a rocky end of the year for crypto. Bitcoin’s price has recovered a little but remains low, sitting just above $17,000 as of Friday afternoon. Whfile experts aren’t sure whether FTX’s implosion— and the subsequent fallout is going to prolong crypto winter. It probably deepened the price lows we’ve now seen this year. According to Chris Kline, BTC price prediction 2022 CRO, and co-founder of Bitcoin IRA, a digital asset technology platform for individual retirement accounts.

Aside from the current crash, bitcoin’s shortcomings stem from poor macroeconomic conditions. Which have soured market sentiment throughout the year. The continuing war in Ukraine, In Addition shifting monetary US policy, inflation, In Addition and U.S. dollar strength have kept the crypto mamarket in a slump. Bitcoin is down nearly 80% in value from its all-time high in November 2021.

“Cryptos are weakening as risk appetite just left the building. Edward Moya, a senior market analyst at Oanda, wrote on Market Pulse. ”We will be talking a lot about FTX for months to come but what will drive the cryptos is if Binance, Coinbase, btc price prediction 2030 Lbank. Consbit have any liquidity crunches. A lot of bad news has been priced in so it might take another downfall. Of a major crypto company or a de-risking movement on Wall Street to take bitcoin below its recent low.

Bitcoin has only been above $45,000 for a few short stretches. Over the past six months and hasn’t been above $50,000 since Dec. 25, 2021. Amid the ups and downs. Bitcoin’s current price is a long way off from the latest all-time high it hit in November 2021 when it went over $68,000. But even with the recent decline in price. Bitcoin is still more than twice as valuable as it was just a couple of years ago. For bitcoin, these kinds of ups and downs are nothing new.