Is $19K Still Possible Or BTC To Fall Below $15K?

In the final 24 hours, Bitcoin (BTC) worth breaks beneath $17K and fell to its essential assist stage of $16.5K. The chain of occasions within the final two days precipitated the crypto market to crash massively. It began with the U.S. Federal Reserve’s hawkish outlook, tuning sentiment again to unfavorable.

Binance’s auditor Mazars on Friday suspended services together with proof of reserves (PoR) for crypto exchanges. It precipitated large promoting within the crypto market because of the current Binance FUD. BTC worth fell over 4% to hit a low of $17K. Thereafter, a market-wide selloff was seen in cryptocurrencies related to Barry Silbert’s DCG. Crypto influencers imagine Genesis and Grayscale may face insolvency.

Can Bitcoin (BTC) Price Hit $19K?

Crypto analyst CredibleCrypto in a tweet on December 17 shared two eventualities for Bitcoin (BTC) worth because it tagged the $16.5K assist stage once more. He stays bullish on Bitcoin worth rising over $19K within the brief time period.

Bitcoin worth should maintain the $16.5K stage to rebound from the extent. He predicts the BTC worth will contact $17.3K first and may break the $18K resistance to rally in direction of $19K.

However, if the BTC worth breaks beneath $16.5K assist, it could actually solely go to $15.6K. A low of $15K is tough except one thing main occurs within the crypto trade. Currently, the BTC worth is buying and selling at $16,728. The 24-hour high and low are $16,584 and $17,289, respectively.

Bitcoin holding the assist stage will even affect Ethereum worth to bounce from the $1,070 stage. He predicts ETH worth to get better above $1,300 within the brief time period. The ETH worth is at the moment buying and selling at $1,178. The 24-hour high and low are $1,162 and $1,255, respectively.

Also Read: Ethereum (ETH) Price Records December’s Largest Liquidation

Meanwhile, Binance FUD pushes again merchants as on-chain knowledge by Glassnode reported under-reporting of Bitcoin in Binance’s self-reported proof of reserves. Binance’s native crypto BNB has tanked virtually 18% in every week. The BNB worth is at the moment buying and selling at $235, down 6% within the final 24 hours.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is at the moment overlaying all the newest updates and developments within the crypto trade.

The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.