Bitcoin price prediction as BTC stabilizes at $16,500 TimetoBuy?

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The Bitcoin price prediction for December 17 is likely to reverse as BTC stabilizes above the $16,500 support zone. Major cryptocurrencies were trading in the negative at the start of the Asian session, with the global crypto market falling 6.11% to $797.45 billion the previous day.

In the past 24 hours, the overall crypto market volume increased by 38.50% to $47.36 billion. Total DeFi volume is currently $2.67 billion, which represents 5.63% of the overall 24-hour crypto market volume.

The overall volume of all stablecoins is now $43.54 billion, which represents 91.92% of the total 24-hour volume of the crypto market.

Japanese Government Cuts Crypto Tax by 30%: Right Decision?

Whether or not they generated a profit in 2018, Japanese crypto companies must pay a flat tax rate of 30% on their assets. Some local crypto companies have apparently decided to offshore their operations due to increasingly onerous tax rules over the past few years.

The LDP has made correcting this situation a top priority because of the damage it has caused to the country’s economic progress. The Japanese Liberal Democratic Party (LDP) works with the United States on defense and international policy and prioritizes administrative reform.

In various contexts across the country, the term “administrative reform” can mean different things. These ideas include implementing reforms such as taxation to stand the test of time and economic stress.

Japan’s ruling party (LDP) tax committee met on Dec. 15 to discuss ways to accelerate economic growth. Agenda items included a discussion of potential changes to the tax code.

At the same time, they adopted a proposal that had been presented in August. The plan aims to eliminate taxes on paper earnings on the issuance or custody of tokens by crypto firms. The Japanese government wants to encourage the development of IT and financial industries by reducing the tax burden on local crypto businesses.

The more lenient crypto tax legislation will begin to be introduced in Parliament in January, with implementation over the next fiscal year beginning in April.

bitcoin price prediction

The current Bitcoin price is $16,742 and the 24-hour trading volume is $26 billion. The Bitcoin price has fallen almost 4% since yesterday. On Friday, the BTC/USD pair gained support at $17,250, which was extended by the 50-day moving average. Increased negative pressure, on the other hand, produced a bearish crossover below $17,200, sending the BTC/USD pair down towards $16,570.

Bitcoin price chart – Source: Tradingview

Traders typically use technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) to gauge an asset’s price movement and predict future trends. These indicators are currently pointing to a bearish trend for Bitcoin, however, these have entered the oversold zone, implying that we might see a slight bullish correction in Bitcoin.

This is further supported by the fact that BTC/USD closed the Doji candles above the $16,550 level, indicating that an upside correction to $17,000 and even higher to $17,250 is possible.

A bearish break below the $16,555 support level, on the other hand, could extend the selling trend to $16,200 or $16,000.

High Profit Alternative Parts

The crypto market has been trading lower for several weeks, prompting some traders to consider alternatives with greater near-term potential.

Here are some of the major pre-sales in the market, allowing investors to enter on the ground floor.

FightOut (FGHT) – Presale Launches

FightOut, a brand new Move-to-Earn (M2E) app and gym channel that aims to bring the fitness lifestyle to web3, has opened its pre-sale, and investors believe the project has the potential to transform the existing web3 M2E landscape.

While existing M2E apps like StepN only track steps and require expensive non-fungible token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity and no longer requires no expensive purchases. ins.

FightOut’s FGHT tokens are currently selling at 60.06 USDT for 1 USDT, and interested investors are encouraged to act quickly to secure their tokens, with the presale bringing in over $2.8 million in just a few days. The FightOut crypto ecosystem will be powered by the FGHT token.

Visit FightOut now

Dash 2 Trade (D2T) – Presale enters its final phase

Those looking to invest in a promising crypto trading platform startup should consider Dash 2 Trade. With its unique features, the burgeoning social analytics and trading platform hopes to take the crypto trading space by storm.

Trading signals, social sentiment and on-chain indicators, a pre-sale token rating system, a token list alert system, and a strategy backtesting tool are some of the features. The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold to use the platform’s features.

Dash 2 Trade is currently holding a token presale at heavily discounted prices, with sales recently reaching $10 million. The presale dashboard will be available on Friday, with the development team currently ahead of schedule. The tokens are currently being sold for $0.0533 per token and will be listed on multiple centralized exchanges over the next month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final presale phase now

In 2022, major blockchain-based games such as Axie Infinity lost significant traction. As a result, many investors interested in the cryptocurrency gambling space are looking for other options.

Calvaria, a new battle card crypto game to win, could be a viable option. Calvaria aims to increase crypto adoption by building a bridge between the real world and crypto, in the form of a fun and accessible crypto game.

Calvaria’s RIA token pre-sale should be considered by investors. Calvaria has now raised $2.47 million and is nearing completion, with only 20% of the tokens remaining.

Visit Calvaria now

Find the best price to buy/sell a cryptocurrencyCryptocurrency Price Tracker – Source: Cryptonews

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