Bitcoin increased today, but it also kept falling. The price of bitcoin today is just slightly higher than the record low it reached, when it fell by as much as 4.5%.
However, as the number of digital currencies has increased, the reason for their continuous drop could be due to the rising risks of hacking.
For many years, North Korean hackers have targeted cryptocurrency exchanges and used phishing scams to steal digital cash. Recently, these attacks have increased in frequency. This was thought to be one of the main causes of investor unease and cryptocurrency losses.
Fed governors Joshua Rosner, Lael Brainard, and Randal Quarles saw the decrease in bitcoin prices as a positive development in their formal speeches and reaffirmed that central banks would keep raising interest rates at a steady pace. The Fed has given off hints that it would soon adopt a more aggressive stance, which is consistent with forecasts for cryptocurrency. Additionally, it is thought to play a significant role in maintaining the current low level of the cryptocurrency market.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 22,592.07 |
Bitcoin Price Prediction
Bitcoin is currently worth $23,206, with a 24-hour trading volume of $26.9 billion. Within the past 24 hours, Bitcoin has gained by 1.13%. CoinMarketCap is now in first place with a $447 billion live market capitalization.
On the 4-hour period, Bitcoin is currently encountering immediate resistance at the $22,750 level; closing candles below this level may cause the price of BTC to fall as low as $22,300 or $22,000.
The price of bitcoin may approach the $21,500 level if selling pressure picks up since technical indicators like the RSI and MACD are in a sell zone.
Alternatively, the $22,750 level may serve as support for the BTC/USD pair; if BTC closes above this level, it may move towards the $23,350 level.
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