Bitcoin Price Prediction as BTC Crosses $21,000, 20% Rally Incoming?

Bitcoin price did not change much during the European session and continued to consolidate near $21,190. Despite the bright weekend, Bitcoin price prediction remains bullish above the $21,000 level. Bitcoin is currently trading at $21,189, with a 24-hour trading volume of $34 billion. During the Asian session, Bitcoin fell less than 1%. It is currently ranked first on CoinMarketCap, with a live market cap of $406 billion.

Want Consistent Profitable Trading? Use This! Get Billions of Rupiah by Following This, Without a Draw!

Bitcoin Price 

The BTC/USD pair entered the overbought zone after breaking through the key resistance level of $21,000 to reach $21,450. Since BTC has started a bearish correction, its price may drop to $21,000 before resuming its uptrend. Meanwhile, the RSI and MACD are leaving the overbought zone and will soon enter the buy zone, allowing investors to buy once again. BTC may face the resistance levels of $22,000 and $22,750 if it breaks through the $21,475 level.

If Bitcoin falls below $21,000, it could hit the $20,650 level, which is extended by the 50-day moving average. The bullish bias remains strong above $21,000, so you can keep an eye on it.

US Economic Statistics

The Fed raised interest rates by 75 basis points on Wednesday, warning that further increases in borrowing costs would be needed to combat inflation. Employment data from the United States will have a significant impact on the overall cryptocurrency market. The US Federal Reserve could continue to raise interest rates due to a tightening job market, as the Bureau of Labor Statistics (BLS) reported that US Nonfarm Payrolls increased by 261,000 in October, beating the 200,000 forecast.

Given that the US central bank has raised interest rates by 0.75% for the fourth time this year and has acknowledged a solid job market, the December meeting may be a discussion point when the Fed could consider raising rates by half or three-quarters of a percent. Unemployment rose to 3.7% as fewer people looked for work, while annual wage inflation, as measured by Average Hourly Earnings, fell to 4.7% from 5% in the same report. The fact that BTC/USD is sensitive to US economic data adds to its significance.

New Crypto Presale

The second phase of D2T’s presale has already sold out, raising $5.16 million in just two weeks. Dash 2 Trade is a concept developed by Learn 2 Trade, a highly popular trading signals company, which is set to launch in the second half of 2022. The platform aims to provide investors with market-based insights to help them make informed decisions. Dash 2 Trade includes a notification service that notifies investors of all new coin listings on centralized exchanges, giving them access to information that was previously only available to elite investors. With so much potential, it’s no surprise that D2T’s presale numbers are phenomenal. Already, the cryptocurrency has raised over $5.3 million ($5,362,094).

Earn Up to Tens of Millions per Month, Trading Using This! How to Multiply Your Capital Up to Tens of Millions, Follow This Tutorial!

Fidelity Offers Early Access to New Bitcoin Trading App

Fidelity Investments, a financial services company, has officially launched its new cryptocurrency trading platform. The trading platform for small investors now offers commission-free cryptocurrency trading. The announcement shows Fidelity's interest in cryptocurrency.

The company is making an early access waitlist available to its users. Investors will be able to buy and sell Bitcoin (BTC) and Ethereum (ETH) through Fidelity Crypto’s services and use the custodial and trading services provided by its subsidiary, Fidelity Digital Assets.

Retail investors can trade Bitcoin and Ethereum from their smartphones without being charged commission fees. Since traders can trade them without paying commission fees, this implies that the value of the BTC/USD pair will be affected. You can see today's bitcoin price directly through Google, while you can continue to update the news through the GIC Journal. Don't forget to use an ECN account on GIC and enjoy all the benefits! In addition, GIC is also holding a GIC Prize Fest with a total prize of 1 billion without a draw. Register now and get the prize!