Bitcoin Price and Ethereum Prediction; Winter Lowers Texas Bitcoin Hash-Rate

On December 27, Bitcoin price prediction stays neutral during the Asian session as BTC is maintaining a narrow range of $16,800 to $17000. Similarly, Ethereum has stayed relatively stable at $1,223. The global crypto market cap gained 0.14% to $813.38 billion in the previous day, as major cryptocurrencies traded in the green early on December 27. 

The entire cryptocurrency market volume in the last 24 hours is $22.05 billion, a 0.30 percent fall. DeFi’s total volume is currently $1.67 billion, accounting for 7.57 percent of the overall crypto market 24-hour volume. 

The overall volume of all stablecoins is now $20.10 billion, accounting for 91.14% of the total 24-hour volume of the crypto market.

Extreme Winter Lowers Texas Bitcoin Hash-Rate

On Christmas Eve in Texas, Bitcoin’s total hash rate dropped to 170 exahash per second (EH/s), which hurt the world’s largest cryptocurrency. Bitcoin miners cut their hash power due to harsh winter weather. By Sunday noon, 100 exahashes disconnected from the network and rejoined at 170 EH/s to 240 EH/s.

According to a report, Texas-based bitcoin miners have stopped working due to the cold. Dennis Porter, a Bitcoin enthusiast, shared a text message from a company that engages in mining activities. 

He claims that the Fort Stockton location of Lancium, a Bitcoin company, was closed down. It was done to increase the grid’s power supply.

President Brazil Legalizes Bitcoin Payments

According to Bitcoin Magazine, Brazilian President Jair Bolsonaro signed a bill into law that establishes a legal framework for the trade and use of bitcoin in the country. Congress passed the bill with no changes, and President Bolsonaro signed it into law.

The new regulations regard bitcoin currency as both an investment asset and a digital representation of value in South America.

Therefore, this was seen as positive news that could help the BTC prices to regain some ground. 

Bitcoin Price 

The current price of a bitcoin is $16,879, and the volume of trades in the last 24 hours is $12 billion. CoinMarketCap is ranked first with a live market cap of $324 billion. Bitcoin’s market domination has dropped again from 40.01% to 39.96%.

Bitcoin Price Chart – Source: Tradingview

Bitcoin’s technical picture remains largely unchanged. If the BTC/USD pair breaks $17,000, it will almost certainly continue to rise toward $17,500. If Bitcoin falls below $16,500, support will be found at $16,320.

Bitcoin Price Chart – Source: Tradingview

Regardless of the fact that the RSI and MACD are both in the positive purchase zone, the 50-day moving average is dragging Bitcoin down.

Keep an eye on today’s $17,000 price, which is expected to be a watershed moment in Bitcoin’s history.

Ethereum Price 

Ethereum’s current price is $1,223, with a $4 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.25%, and CoinMarketCap currently ranks second, with a live market cap of $149 billion.

Ethereum Price & Tokenomics – Source: coinmarketcap

Ethereum has been battling below $1,225 on the 4-hour chart, and the closing bullish engulfing candle above the 50-day moving average implies a potential for an uptrend continuation. 

A break above the $1,229 resistance level could expose ETH to the next resistance level of $1,262 or $1,280. Ethereum’s short-term supports are $1,180 and $1,150.

Ethereum Price Chart – Source: Tradingview

If the $1,180 support level is broken, the negative trend might hit $1,150. If Ethereum prices rise above $1,220, they may continue to rise until they hit $1,270.

Alternative Coins with High Yields

Despite the overall decline in the cryptocurrency market, only a few coins have gained traction.

FightOut (FGHT)

FightOut (FGHT) platform works similarly to a personal trainer, except that the FGHT token is proactively rewarded for exercise time. All activities are recorded and can be used to improve the statistics of one’s metaverse avatar. The ability to earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while reaping the benefits of blockchain technology.

Despite the general lack of liquidity in the cryptocurrency market, FightOut has succeeded and attracted investors. Through its token sale, which began last week, it has already raised more than $2.4 million. 

The current selling price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT), but this will increase as the sale progresses.

Visit FightOut Now

Dash 2 Trade (D2T)

Dash 2 Trade is yet another Ethereum-based platform that, when it launches early next year, will provide real-time statistics and social trading data. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among the first features, assisting both novice and professional traders in staying on top of the volatile bitcoin market. 

There are only 10 days left to invest in Dash 2 Trade, one of 2022’s largest ICOs, as it raises $10.8 million and prepares to launch its dashboard beta. Over the last two months, investors have purchased 80% of the D2T token allocation, and the presale is still in full swing. 

If you want to be in on the ground floor for ten-bagger gains in 2023, there is no time to waste. D2T is the system’s access coin, and it is now worth $0.0533 in the presale after initially selling for $0.0476 to investors.

Visit Dash 2 Trade Now

C+Charge (CCHG) 

C+Charge (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. Its goal is to increase access to carbon credits by rewarding customers who charge their electric vehicles at its terminals, which is set to begin in the second quarter of next year. 

The platform has already signed a deal with Perfect Solutions Turkey to add 20% of Turkey’s EV chargers to its network, demonstrating how quickly it could expand. 1 CCHG costs $0.013, and it can be purchased with BNB or USDT.

Visit C+Charge Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

Be the first to comment

Leave a Reply

Your email address will not be published.