Bitcoin’s price forecast remains the same as BTC is trading turbulent in a constrained range between $16,700 and $17,000. As US miners ceased operations due to the extreme weather, the hashrate for Bitcoin fell by 35% in a single day.
According to sources, the hashrate fell to 156 EH/s. Prior to that, throughout the period of 14 days, the average hashrate was 237 EH/s. Due to the recent winter storms, thousands of flights have been cancelled throughout the United States.
Power outages and other storm-related problems have prompted bitcoin miners to halt their operations. A website that tracks outages, PowerOutage, reports that roughly 1.4 million buildings are without electricity.
Today Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 16,608.20 |
Bitcoin Price Prediction
The price of bitcoin is at $16,813, and $10 billion worth of transactions take place every day. The BTC/USD value is mostly unchanged today and is still fluctuating between $16,700 and $17,000.
BTC has retraced and is currently consolidating near $16,800 after an unsuccessful attempt to break out over $17,000. The price needs to stay over $16,587 if the bulls want a second opportunity at higher prices.
A bearish violation of this level may expose BTC to $15,650; a bearish breach of the $16,600 support level may allow for additional selling to $16,250 or $16,100. The MACD and RSI indicators show that the market currently has a mixed bias.
The market has been oversold, according to the RSI, but the MACD suggests that there may be some upward momentum. Predicting the direction of the market may be difficult in light of these conflicting indicators.
