During the European session, the Bitcoin price prediction hasn’t changed much today, as BTC continues to trade above the major support level of $16,550. Given the bullish technical indicators, the market is waiting for a key on-chain signal before launching into a classic bull market.  On December 17th, the developer of the Puell Multiple tweeted that he believes the current BTC price decline is nearing its end. However, not… Source link

Bitcoin (BTC) only needs one more key on-chain signal for a classic bull market to begin, analyst David Puell says.  In a tweet on Dec. 17, the Puell Multiple creator argued that the stage is almost set for the end of the BTC price bear market. Puell: Bitcoin network activity “underwhelming” Despite many calling for new BTC/USD lows of $12,000 or less this cycle, not everyone is wholly bearish on the outlook for Bitcoin. For Puell, two essential on-chain phenomena necessary for BTC price… Source link

Widely followed cryptocurrency analyst Benjamin Cowen is warning that Ethereum (ETH) may collapse due to at least one big economic worry. In a new strategy session, Cowen tells his 779,000 Youtube subscribers that the leading smart contract platform could decline by more than 65% from its current price of $1,174. “I do think you’re still looking at a leg lower here on Ethereum’s valuation against the US dollar. I think around that $400-$600 range is a good spot to begin… Source link

The head of digital assets research at global investment behemoth VanEck, Matthew Sigel, is predicting wild fluctuations for Bitcoin (BTC) over the coming months. Starting with a bearish forecast, Sigel says in a post detailing his crypto predictions for 2023 that Bitcoin could fall to between $10,000 and $12,000 in next year’s first quarter. According to Sigel, Bitcoin miners are currently unprofitable and the resulting bankruptcies will trigger a crash in the flagship crypto… Source link

After the spectacular collapse of the U.S. cryptocurrency exchange FTX, investor confidence in the cryptocurrency ecosystem is very low. Hence, the ongoing media reports and social media rumors about higher-than-usual outflows from the world’s largest crypto exchange Binance are raising alarm bells among crypto investors and the wider investing community. Binance’s controversial proof of reserves report, intended to calm investors down, has seemed to further fuel speculation about the… Source link

The Twitter account belonging to early Bitcoin contributor and adopter Hal Finney has been reactivated after twelve years of inactivity. Finney was the first individual to receive a blockchain transaction from Bitcoin creator Satoshi Nakamoto in 2009. He continued to use and contribute to Bitcoin until he passed away from ALS complications in 2014. Finney’s Twitter account has been dormant since 2010. Concerns emerged in recent days that the account could be deleted under Elon Musk’s… Source link

For the longest time, the meme coin Shiba Inu (SHIB) had been an Ethereum whale favorite. This support was driven by the rapid growth of the cryptocurrency that netted some of these whales millions of dollars in profit. However, with the crypto winter, SHIB has suffered one of the worst declines, causing Ethereum whales to move away from the meme coin. Shiba Inu Falling Out Of Favor At one point, the Shiba Inu holdings of the top 5,000 largest Ethereum whales had reached as high as $1… Source link

Ether (ETH) price is down on Dec. 16 and the pre-FOMC rally to $1,350 was obliterated after Federal Reserve chair Jerome Powell issued hawkish statements following a 0.50% hike in interest rates. The Ether sell-off follows a market-wide decline that has sent Ethereum network fees plummeting by 39.90% in the past 30-days. Daily Ethereum network fees and daily active users. Source: TokenTerminal The total value locked in Ethereum-based smart contracts also decreased by decentralized finance by… Source link

Crypto markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser.  The Fed hiked interest rates by 0.50%, which was well within the expectation of most market participants, but the eyebrow-raiser was the Federal Open Market Committee consensus that rates would need… Source link

With bitcoin and the CoinDesk Market Index turning lower as traders rethinking the takeaway from this week’s Federal Reserve meeting, plus a closer look at BTC dominance, CoinDesk’s “Markets Daily” is back with the latest news roundup. December 16, 2022 Listen on: Source link