On Dec. 30, BTC fell nearly 0.5% to $16,525, making the bitcoin price prediction bearish. Similarly, Ethereum is experiencing an equivalent drop to $1,193, possibly due to the release of US jobless claims data, which increased the demand for US dollars, leading to a selling trend in the cryptocurrency market.
In the week ended Dec. 24, the number of new jobless claims filed by Americans rose by 9,000 to 225,000, in line with market expectations. The 4-week moving average, which takes into account weekly changes, remained the same at 221k, indicating a tight labor market.
Bitfarms co-founder and CEO Emiliano Grodsky steps down
A December 29 post announced the resignation of Bitfarms co-founder and CEO Emiliano Grodsky. The mining company was established in 2017 by Emiliano Grodsky and Nicolas Bonta.
Rumor has it that Grodsky will remain director and Bonta will now be chairman of the board. Following Grodsky’s departure, Jeffrey Morphy, formerly President and Chief Operating Officer, was named CEO.
“In challenging times, we focus on operational efficiency, cost control, corporate governance and a diverse portfolio of underutilized energy sources. These areas of progress should enable us to succeed in all environments.”
Bitcoin miners have been hit hard by the market downturn as their daily profits hit historic lows. Neither Bitfarms nor any other company is immune from the current market situation as the company has been posting quarterly losses.
The current price of one bitcoin is $16,525 and the trading volume for the last 24 hours is $14 billion. Over a 4-hour period, Bitcoin is receiving strong support at $16,460, which continues with the trend line evident in the chart below.
Bitcoin price chart – Source: Tradingview
A break above the $16,720 level could push the price of Bitcoin to the next resistance level at $16,990. With the RSI and MCD in the bearish zone, a bearish break of the $16,460 level could expose Bitcoin to an immediate $16,200 or $16,000 support level. A downward break of this additional $16,000 support could then quickly take BTC to the $15,500 level either today or in the next few days.
The current price of Ethereum is $1193 and the 24 hour trading volume is $4 billion. Over the past 24 hours, Ethereum has lost almost 0.4% and its market capitalization has risen to $146 billion.
Ethereum, like Bitcoin, is on a downward trend right now. However, ETH instantly found support at $1,180. The rising trendline seen in the 4 hour time frame extends this support level.
Ethereum price chart – Source: Tradingview
On the 4-hour timeframe, a candle close above $1,180 almost certainly signals a bullish reversal to watch out for. This bullish reversal could take the price of Ethereum to the nearest resistance level at $1220, which is stretched by the 50-day simple moving average.
On the other hand, a break below the uptrend line could continue the current downtrend to the next support levels at $1150 and $1100.
Other highly profitable cryptocurrencies
The situation in the global cryptocurrency market is uncertain, but several new cryptocurrencies are making headlines. Let’s explore the possibility of taking advantage of this!
The FightOut (FGHT) platform works just like a personal sports trainer, except that the FGHT token is a training reward. All actions are recorded and can be used to improve his metaverse avatar’s statistics. The ability to earn FGHT tokens gives people an extra incentive to stay healthy and exercise while taking advantage of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, FightOut was successful and attracted investors. Through the token sale that began last week, the company has already raised over $2.4 million. The current sale price is 60.06 FGHT per $1 (FGHT can be purchased with ETH or USDT), but will increase as the sale progresses.
Trading Dash 2 (D2T)
Dash 2 Trade is another Ethereum-based platform that, when launched early next year, will provide real-time analytics and social trading data. Trading signals, network analytics, strategy building tools, and news feeds will be some of its initial features, helping new and experienced traders keep an eye on the volatile cryptocurrency market.
The D2T token sale has raised over $11 million and is due to close in just 9 days, providing early investors with a window of opportunity that will close quickly. On January 11, the altcoin will be listed on its first exchange, with LBANK Exchange, Changelly Pro, and Bitmart confirmed as the first trading platforms to support it.
C+Charge (CCHG) is a peer-to-peer payment system based on Binance Chain for electric vehicle (EV) charging stations. Its goal, due to begin in the second quarter of next year, is to expand access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.
The platform has already struck a deal with Perfect Solutions Turkey that will add 20% of Turkish EV chargers to its network, indicating how fast it can grow. 1 CCHG is currently trading at $0.013 and can be purchased with BNB or USDT.
Find the best price to buy/sell cryptocurrency
Cryptocurrency price tracker – Source: Cryptonews