Bitcoin Price and Ethereum Prediction; Which Way Will BTC Go?
During the Asian session on December 24, the Bitcoin price prediction remains neutral as BTC continues to consolidate in a narrow range of $16,750 to $17,000. With only one day until Christmas, the global financial market appears to be experiencing low volatility and trading volume, which is keeping price action in check. Similarly, Ethereum has also remained mostly unchanged at $1,218.
Over the last 24 hours, the global crypto market capitalization increased by 4.75% to $2.39 trillion, while trading volume increased by 14.11% to $102.84 billion. While DeFi ($17.44 billion) contributed 16.96% of trading volume, stablecoins ($79.65 billion) accounted for 77.45%.
Let's take a quick look at the fundamental outlook for Bitcoin and Ethereum today.
Elon Musk, CEO of Tesla, SpaceX, and Twitter, issued a dire warning Thursday about the potential consequences of the Federal Reserve's plan to raise interest rates quickly.
The former investment manager Genevieve Roch-Decter tweeted that "the Fed has never raised rates quicker" than this year, prompting his warning.
At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever.
Roch-Decter tweeted with a chart demonstrating that the Federal Reserve has increased interest rates this year at a rate faster and more significantly than at any time in the past century.
The current price of a bitcoin is $16,852, and the volume of trades in the last 24 hours is $14 billion. CoinMarketCap is ranked first with a live market cap of $324 billion. Bitcoin's market domination, which is presently trading at $51,103.04, increased by 0.29% to 40.50%.
The technical outlook for Bitcoin is mostly unchanged. If the BTC/USD pair crosses over $17,000, it will
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