• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Bitcoin Is More Likely to Be $8.5K Than $34K. Here Is Why.

Dec 13, 2022

Bitcoin Is More Likely to Be $8.5K Than $34K. Here Is Why.

Bitcoin and other cryptocurrencies were little changed Monday ahead of what could be an important week. After the painful bankruptcy of the FTX exchange last month, cryptocurrencies continue to fall in value, and market participants are increasingly pessimistic about their outlook.

Bitcoin's price has fallen 0.4% in the last 24 hours to $ 17,033. The largest cryptocurrency is still falling from its all-time high of November 2021, hit by a selloff this year that accelerated last month with the startling collapse of FTX. The failure of the crypto exchange not only slashed token prices — Bitcoin dropped 20% in days — but also raised the potential of stricter regulation and reduced institutional interest in the area.

"Bitcoin appears to be stuck around $17,000, and this may be a prolonged event," said Edward Moya, an analyst at broker Oanda. Edward added that it is the last trading week of the year that we will see full participation, which could finally help Bitcoin make a more meaningful move.

Regarding the major economy, the Federal Reserve's next monetary policy decision is expected to raise interest rates by 50 basis points, a slowdown after a string of 75 basis-point hikes that helped to slow down inflation. Given the correlation between digital assets and stocks that has intensified despite 2022's challenging economic backdrop of high inflation and increasing rates, this news will affect the stock market and draw cryptos along. The release of consumer-price index (CPI) inflation statistics on Tuesday adds to the packed agenda of economic data and news in the coming days, which might see Bitcoin behind the Dow Jones Industrial Average and S&P 500.

unnamed-9-6

Moya thinks that if Wall Street believes the Fed will stop raising rates after the February rate hike and nothing new breaks in crypto, Bitcoin might make a run for $18,000. If the Fed indicates that more work is needed, and if legislation appears to be devastating for Bitcoin, sellers may emerge swiftly and attempt to retest the November lows.

In general, the impact of FTX's collapse has thrown a shadow over crypto. The release of a survey of 856 global financial markets players by Deutsche Bank on Monday provided further evidence that the Wall Street mood has soured on the once-hot crypto industry.

According to 78% of respondents to the bank's study, conducted by strategist Jim Reid, Bitcoin is more likely to halve next year than double, indicating overwhelming bearishness from traditional finance. Based on current price levels, market participants believe Bitcoin will fall below $8,500 rather than rebound to $34,000, a level last touched in May. It's a rise from last year when 38% of respondents predicted Bitcoin would double from its then-current price of roughly $50,000.

The study also highlights what appears to be declining interest in the realm of digital assets. Only 2% of respondents thought crypto asset volatility was one of the world's top risks in market stability in 2023, putting crypto below 25 other issues, such as liquidity problems in private capital and assaults on energy infrastructure.

In addition to Bitcoin, Ethereum, the second-largest cryptocurrency, fell 1.5% to $1,250. Smaller cryptos or altcoins performed somewhat worse, with Cardano and Polygon both losing 2%. Memes Coins were much lower in the red, with Dogecoin down 8% and Shiba Inu down 3.5%.

Subscribe Our Newsletter

Omicron Variant May Mean Stock Market Rally Is On Hold: Goldman Sachs
Omicron Variant May Mean Stock Market Rally Is On Hold: Goldman Sachs

Goldman Sachs predicts that the bull market of 2021 may be put on hold temporarily as investors examine the economic risk posed by the new Omicron form of COVID-19.

Stocks
These Are The Best Robinhood Stocks To Buy Or Watch Now
These Are The Best Robinhood Stocks To Buy Or Watch Now

Purchasing a stock appears to be simple, but buying the appropriate stock at the right moment without a proven plan is extremely difficult. So, which Robinhood stocks should you purchase right now or add to your watchlist?

Stocks
Constantine

5 Top-Tier Breakthrough Trading, Crypto and Fintech Industries Software Solutions in 2022
At the intersection of finance and technology, FinTech is an expansive industry that continues to grow at a rapid pace. This market features innovative approaches to goods and services offered by the conventional financial sector combined with technological advances from tech companies or new entrants.

discover
What is Hedging and How Does it Work in Trading? — Ultimate Guide

Alexander

What is Hedging and How Does it Work in Trading? — Ultimate Guide

The fluctuation of financial markets can be stressful for traders and investors. During times such as these, most people probably wish they could insure their investments against downturns like they do their cars against crashes, entering into some sort of agreement where they can be compensated in case of an accident.

Forex Business

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Alexander

    Full Bitcoin Price History: From 2009 to 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-11-300x203.png

    Constantine

    Top 5 Most Reliable KYC Technology Providers

    https://liquidity-provider.com/app/uploads/2023/01/cover-10-300x203.png

    Alexander

    The Best Crypto Wallets of 2022: Top 5 Picks

    https://liquidity-provider.com/app/uploads/2023/01/cover-2-300x203.png

    Alexander

    Top 5 Most Reliable Forex Brokers of 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-1-300x203.png

    Constantine

    5 Top-Tier Breakthrough Trading, Crypto and Fintech Industries Software Solutions in 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-300x203.png

    Constantine

    5 Most Successful FinTech Industry Startups in 2022

    https://liquidity-provider.com/app/uploads/2022/12/cover-300x203.png

    Constantine

    Top 7 Liquidity Providers of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-3-300x203.png

    Alexander

    Top 5 Crypto Exchanges of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-1-300x203.png

    Constantine

    Top 5 Most Distinguished White Label Solutions in 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-2-300x203.png

    Constantine

    What is Crypto Leverage Trading And How Does It Work?

    https://liquidity-provider.com/app/uploads/2022/12/oblozhka-5-300x203.png

    Constantine

    Top 5 Most Prospective Tokens in the Metaverse.

    https://liquidity-provider.com/app/uploads/2022/12/cover-7-300x203.png

    Constantine

    How to Mine Bitcoins? – Beginners Guide

    https://liquidity-provider.com/app/uploads/2022/11/cover-5-300x203.png

    Oliver

    Blockchain for Business. Pros & Cons

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-1-300x203.png

    Constantine

    The Future of Stablecoins and Central Bank Digital Currencies (CBDCs)

    https://liquidity-provider.com/app/uploads/2022/11/cover-3-300x203.png

    Alexander

    What is Web 3.0 and Why Does it Matter?

    https://liquidity-provider.com/app/uploads/2022/11/cover-1-300x203.png

    Constantine

    5 Benefits of Accepting Crypto Payments for Your Business

    https://liquidity-provider.com/app/uploads/2022/11/cover-300x203.png

    Constantine

    Hot Wallet vs Cold Wallet: Which Do I Need More for Crypto?

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-5-300x203.png

    Alexander

    What is Hedging and How Does it Work in Trading? — Ultimate Guide

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-4-300x203.png

    Oliver

    Pre-execution vs Post-execution: What’s the Difference?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-1-300x203.png

    Constantine

    What is Slippage in Trading? – Definition

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-1-300x203.png

    Oliver

    How Forex Brokers Make Money? – A-Book vs. B-Book Model

    https://liquidity-provider.com/app/uploads/2022/10/shapka-2-300x203.png

    Oliver

    What is the Ethereum Merge, And How Will it Change Ethereum?

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-300x203.png

    Alexander

    How to Spot Cryptocurrency Scams

    https://liquidity-provider.com/app/uploads/2022/10/shapka-300x203.png

    Milena

    Exploring the Metaverse: What Does It Mean for the Future of the Internet?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy