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

Within the final 24 hours, Bitcoin (BTC) worth breaks beneath $17K and fell to its essential help degree 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 unfavourable.

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

Can Bitcoin (BTC) Worth Hit $19K?

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

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

Nonetheless, if the BTC worth breaks beneath $16.5K help, it could possibly solely go to $15.6K. A low of $15K is tough except one thing main occurs within the crypto business. Presently, 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 help degree may even affect Ethereum worth to bounce from the $1,070 degree. He predicts ETH worth to get well above $1,300 within the brief time period. The ETH worth is presently buying and selling at $1,178. The 24-hour high and low are $1,162 and $1,255, respectively.

Additionally Learn: Ethereum (ETH) Worth Data December’s Largest Liquidation

Varinder is a Technical Author and Editor, Expertise Fanatic, and Analytical Thinker. Fascinated by Disruptive Applied sciences, he has shared his data about Blockchain, Cryptocurrencies, Synthetic Intelligence, and the Web of Issues. He has been related to the blockchain and cryptocurrency business for a considerable interval and is presently protecting all the newest updates and developments within the crypto business.

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