As investors await US consumer confidence data on December 21, the Bitcoin price prediction for the Asian session remains gloomy beneath $17,000. In a similar vein, Ethereum had bullish trading up to $1,220, but the bulls seem to have run out of steam, keeping ETH below the $1,222 resistance.
As major cryptocurrencies traded in the green early on December 21, the total market capitalization of cryptocurrencies increased by 1.50 percent to $811.88 billion from the previous day. To reach $36.06 billion over the past 24 hours, the total volume of the crypto market climbed by 9.38 percent.
At the moment, DeFi has a total volume of $1.71 billion, or 4.74 percent of the total 24-hour volume in the cryptocurrency market. As of right now, the total volume of all stablecoins is $33.20 billion, or 92.08 percent of the 24-hour volume.
Retail Bitcoin Ownership Increases in 2022 Despite the Crypto Contagion
Retail investors have accumulated more Bitcoin this year despite the failure of some well-known businesses. Long-term Bitcoin investors also hold a record amount of the currency. There are some bright spots when it comes to cryptocurrency. Despite a 75% price decline, Bitcoin's on-chain metrics are still favorable.
According to data from Glassnode's on-chain, retail traders now hold an all-time high 17% of Bitcoin. As stated by the company, retail investors are people with fewer than ten bitcoin in their wallets.
The report also reveals a sharp rise in retail ownership over the previous month. Co-founder of Reflexivity Research Will Clemente noted the following on December 20:
“Not perfect yet, but solid for a 12-year-old asset and definitely trending in the right direction.”
Retail investors are frequently the first to sell whenever the media starts to propagate fear, uncertainty, and doubt (FUD) (fear, uncertainty, and doubt). This has happened in 2022, just like it did in 2018 with the prohibition on ICOs (initial coin offerings).
Highlights on CB Consumer Confidence
Approximately 30 minutes after the market opens on Wednesday, the consumer confidence index will be made public. This may have a substantial effect on the market, similar to what happened last month, especially given that the holiday season is typically marked by higher spending.
If this turns out to be as weak as predicted, there is a chance of a recession. Given the rise in interest rates, the possibility of changing the employment statistics, and the slowdown in pay growth, this report could be quite important in the run-up to the holidays.
Price of Bitcoin
The price of bitcoin is at $16,810, and there are $19 billion worth of transactions every day. In the past 24 hours, the BTC/USD pair has increased by around 0.15%, and CoinMarketCap is currently in first place with a live market cap of $323 billion.
A bullish breakout of this level might push BTC to $17,500. The immediate resistance for the BTC/USD is above $17,000. The immediate support level for Bitcoin is $16,500, and if this level is broken, BTC might go as low as $16,320.
While the RSI and MACD are in a buying zone, the 50-day moving average is maintaining the downward pressure on Bitcoin. Let's keep a watch on $17,000 today because it might signal a Bitcoin tipping point.
Price of Ethereum
The price of Ethereum is currently $1,208, and its 24-hour trading volume is $5.5 billion. With a live market valuation of $147 billion, Ethereum has increased by around 0.20% over the past 24 hours and is currently ranked second on CoinMarketCap.
Ethereum is battling below $1,220 on the 4-hour chart, and the closing of a doji and a bearish engulfing candle points to a high likelihood of a bearish reversal.
The immediate supports for Ethereum on the downside are $1,180 and $1,150. If the $1,150 support level is breached, the selling momentum may continue all the way down to $1,110. A cross above $1,220 on the bullish side can prolong the upward purchasing trend to $1,280.
Exceptionally Valuable Altcoins
Even while the whole cryptocurrency market is in the red, just a few coins are making headlines. Below are the aforementioned altcoins.
Presale Launch of FightOut (FGHT)
Investors are taking notice of the launch of FightOut, a new move-to-earn (M2E) fitness app and gym chain that aims to bring the active lifestyle to web3. The project has the potential to upend the current web3 M2E environment.
FightOut uses a more thorough approach to tracking and compensating users for exercise and activity that does not require any such buy-ins, in contrast to other M2E programs like StepN that just count steps and prohibit participation without expensive non-fungible token (NFT) buy-ins.
The FGHT coin will serve as the fuel for the FightOut crypto ecosystem. Investors are recommended to act quickly in order to get their FGHT tokens at the present rate of 60.06 USDT per 1 USDT because the presale raised more than $2.75 million in only a few days.
Final Stage of PreSale for Dash 2 Trade (D2T)
Investing in Dash 2 Trade is a thrilling way to use a cryptocurrency trading platform. Due to its distinctive features, the new analytics and social trading platform is predicted to revolutionize the cryptocurrency trading industry.
The features include a presale token scoring system, a token listing alert system, trading signals, social sentiment and on-chain indicators, a strategy back-testing tool, and a token listing alert system.
The Dash 2 Trade ecosystem will run on the D2T token, which users must acquire and hold in order to use the platform's services. A token pre-sale is now being held by Dash 2 Trade at drastically reduced pricing, with sales barely surpassing $10.3 million.
In the coming month, tokens will be sold on a number of centralized exchanges for a price of $0.0533 per token.
Final Presale Stage Now for Calvaria (RIA)
A new play-to-earn battle card game called RIA might come to pass. By creating a bridge between the real world and cryptocurrencies in the form of an entertaining and easy-to-play crypto game, Calvaria hopes to enhance the acceptability of cryptocurrencies. The pre-sale of RIA tokens by Calvaria might be of interest to investors.
With only 18% of its tokens still available, Calvaria is closing in on the end of its fundraising campaign after reaching $2.5 million.