Bitcoin Price Prediction: Is $19K Still Possible or BTC To Fall Below 15K?
Bitcoin (BTC), which was trading at $17K, fell to $16.5K in the last 24 hours. The crypto market crashed massively due to a series of events that occurred in the last two days. It all started with the U.S. Federal Reserve’s hawkish outlook and a return to negative sentiment.
Friday’s suspension of services by Binance’s auditor Mazars, including proofs of reserves (PoR), for crypto exchanges was due to be implemented by Mazars. Due to the Binance FUD, it caused huge selling in the crypto market. BTC prices fell more than 4% to $17K. After that, a market-wide selloff occurred in cryptocurrencies connected to Barry Silbert’s DCG. According to crypto influencers, Genesis and Grayscale could be insolvent.
CredibleCrypto, a crypto analyst, shared two scenarios for Bitcoin (BTC), in a tweet posted December 17. The tweet was made as Bitcoin (BTC), price tagged the $16.5K support again. He is bullish on Bitcoin’s short-term rise above $19K.
Prediction of Bitcoin price. Source: CredibleCryptoBitcoin price must hold the $16.5K level to rebound from the level. He predicts that the BTC price will reach $17.3K and should break the $18K resistance in order to rally towards $19K.
If the BTC price drops below $16.5K support it can only go up to $15.6K. It is very difficult to reach $15K unless there are major changes in the crypto industry. The BTC price currently trades at $16,728. The low and high for the 24-hour are $16,584 (or $17,289 respectively).
The support level of Bitcoin will also affect Ethereum price. It is expected that Ethereum price will bounce off the $1,070 level. He expects ETH to rise above $1,300 within the next few days. ETH currently trades at $1,178. The current 24-hour low and high prices are $1,162 & $1,255, respectively.
Also read: December’s Largest Liquidation of Ethereum (ETH), Price Record
Binance FUD is pushing back traders as on-chain Data by Glassnode reported that Binance’s self-reported proofs of reserves did not include Bitcoin. Binance’s native crypto BNB has dropped almost 18% in one week. BNB prices are currently trading at $235. This is a 6% drop in 24 hours.
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