Bitcoin price and Ethereum prediction; Jerky in-game sessions as New Year 2023 approaches

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To end 2022, a dreadful year for coin prices, the two major cryptocurrencies are virtually unchanged from the previous weekend. Bitcoin (BTC) continues to trade choppy due to a lack of volatility as investors prepare to celebrate the New Year 2023. However, Bitcoin price and Ethereum forecast do not have much changed recently, as BTC consolidated in a narrow range of $16,450. at $16,750.

Likewise, Ethereum is choppy, hovering in a tight $1,180-$1,200 range, and a breakout of this level has the potential to determine future trends. Ethereum (ETH) has had a tough year, but its underlying value is higher than its current market price.

ETH Fundamentally Stronger Than Before, But Investors Wary Of Price Drops

In 2022, the network finally implemented its long-awaited merger, marking the start of its shift to a proof-of-stake consensus method. When validators were used instead of miners, blockchain power consumption dropped by 98%.

As of today, more than a hundred days after the merger, ETH is trading at just $1,217. There are currently over 490,000 validators in the network, and this number is only expected to increase by 2022.

Beaconcha.in, an open-source Ethereum blockchain explorer, reports that as of November 1, over $19.2 billion worth of ETH has been staked on the network since September. Even though ETH2 will make the network more efficient and faster, the price has struggled in recent months, despite early optimism about the cryptocurrency’s potential for significant gains.

While its fundamentals have seduced market experts in the past, this year the asset has lost more than 55% of its value. Mike McGlone, senior macro strategist at Bloomberg, predicts that Ethereum (ETH) will overtake Bitcoin (BTC) in the coming bull market. Due to smart contracts and the widespread use of the Ethereum network, they influence his opinion on cryptocurrency.

bitcoin price

The current bitcoin price is $16,547 and the trading volume in the last 24 hours is $10 billion. Bitcoin is gaining good support over the 4-hour timeframe at $16,460, which is extended by an outward trendline visible in the chart below.

Bitcoin price chart – Source: Tradingview

Bitcoin needs to break out of a narrow trading range to determine future price action. A positive break of the $16,720 level could lead Bitcoin price to reach the next resistance level of $16,990.

Given that the RSI and MCD are negative, a break down of the $16,460 level could expose Bitcoin to immediate support levels of $16,200 or $16,000. A further negative breakdown of $16,000 today could expose BTC at the $15,500 level.

Ethereum Price

Ethereum’s current price is $1,195, with a 24-hour trading volume of $2.5 billion. Ethereum, like Bitcoin, is in decline; however, ETH found immediate support at $1,180. This support level is extended by a rising trendline observed over a 4-hour period.

Ethereum price chart – Source: Tradingview

A candle closing above $1,180 within the 4-hour time frame will almost likely imply a bullish reversal. On the other hand, a positive reversal can take Ethereum price to an immediate resistance level of $1,220, which is stretched by the 50-day simple moving average.

A break below an uptrend line, on the other hand, has the potential to extend the selling trend to the next support levels of $1,150 and $1,100.

High potential alternative parts

Despite the continued downtrend in the market, a few altcoins are making headlines in the New Year 2023.

FightOut (FGHT)

The FightOut (FGHT) platform works similar to a personal trainer, except the FGHT token is proactively rewarded for exercise time. All activities are recorded and can be used to improve the statistics of his metaverse avatar.

The FGHT presale is doing quite well and has already raised over $2.5 million. As the sale progresses, the current sale price of 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT) will increase.

Visit FightOut now

Trade Dash 2 (D2T)

Dash 2 Trade will be an Ethereum-based platform that will provide real-time statistics and social trading data when it launches early this year 2023. Trading signals, on-chain analytics, chart building tools strategy and newsfeeds will be among the first features. , helping both new and experienced traders keep up with the volatile bitcoin market.

Dash 2 Trade, one of the biggest ICOs of 2022, has launched its beta version of the dashboard with only 7 days until the presale ends. D2T has already raised over $11.8 million in venture capital.

D2T is the system’s access coin, and it’s now worth $0.0533 in pre-sale after it was originally sold to investors for a $0.0476 coin, and it’s now worth $0.0533 in pre-sale after it was originally sold sold to investors for $0.0476.

Visit Dash 2 Trade now

C+Load (CCHG)

C+Charge (CCHG) is a new blockchain-based technology that aims to reward electric vehicle owners for charging and driving their vehicles. Its native token, CCHG, is currently on presale. The use of the electric car has increased considerably in recent years around the world.

The electric vehicle (EV) sector has grown as an eco-friendly alternative to the traditional automotive sector, which was yearning for change. People can now buy electric vehicles and be part of the green revolution thanks to companies like Tesla, Rivian and others.

The platform has already agreed to add 20% of Turkey’s EV chargers to its network, demonstrating its ability to scale quickly. 1 CCHG costs $0.013 and can be purchased using BNB or USDT.

Visit C+Charge now

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

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