The price of Bitcoin (BTC) has been steadily rising and has been trading above $23,000. The worldwide crypto market cap has increased overall as a result, reaching $1.05 trillion today, a gain of 0.91% over the previous day.
Despite this, traders don’t seem eager to make any substantial offers before the US Federal Reserve makes its statement. In addition to discussing the present US Federal Open Market Committee (FOMC) and Fed rate, this post will concentrate on forecasting Bitcoin values and Ethereum prices.
The cryptocurrency markets have been steady and flashing green since the start of this year, which may be ascribed to the Federal Reserve’s conceivably dovish posture.
Along with the imminent Federal Reserve interest rate hike, an agreement announced by DekaBank and Metaco to start supplying digital assets to institutions will have a big influence on the crypto market.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 22,997.95 |
Bitcoin Price Prediction
The price of one bitcoin is at $22,993.90, and there was $22 billion worth of transactions yesterday. It now ranks first with a market valuation of $443 billion after rising by 0.25% over the last 24 hours.
As the market waits for the Federal Open Market Committee and Federal Reserve to announce their rate choices, Bitcoin is trading on the 4-hour time frame without any obvious bias. However, the $23,300 level continues to act as the pair’s immediate obstacle. If this level is broken, the BTC/USD pair may then move on to the next resistance zone of $23,920.
The 50-day simple moving average also points to a selling trend, and leading technical indicators like the RSI and MACD are in a sell zone.
A bearish breakout of this level might open up further selling space till $22,350. On the downside, an upward trendline is likely to support Bitcoin at $22,750.
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