- Some forecasters are predicting that Bitcoin could break resistance and hit $17,800 in January 2023.
- We look at BTC’s prospects for the New Year and also profile two up and coming tokens that are catching investors’ eyes.
Bitcoin’s recent push rekindled some recovery hopes as the king coin aspired to find a position above the $17,200 resistance level for nearly two weeks.
Anticipation of inflation rates in the upcoming US CPI reports and its potential effect on the Fed’s interest rate move has kept the buyers and sellers on the back foot. As a result, the trading volumes have been relatively low while BTC could break its ongoing slow-moving phase.
Furthermore, increased stablecoin dominance during the past months has reaffirmed a conservative investor sentiment. A conceivable hike in the interest rates by the Fed Reserve can set the stage for investors to make a shift toward ‘less risky’ assets.
It becomes vital for investors to adequately hedge their portfolio risk in these uncertain times via diversification. With that in mind, we look at the prospects of two new crypto projects in FightOut and Dash 2 Trade along with Bitcoin’s potential.
Bitcoin Price Prediction – Can BTC Find a Breakout Rally?
Over the last few weeks, Bitcoin’s buying resurgence from the $15,700 baseline in late November has helped its progression toward the $17,200 ceiling. The last few days witnessed low volatility in BTC’s charts while it compressed near its 20-day Exponential Moving Average.
While the price action flattened, the recent price movements delineated a bearish chart pattern in the daily timeframe. Thus, from a rather near-term perspective, unless the king coin witnesses a solid sentimental catalyst, the sellers would look to re-enter the market.
While the recent price movements have chalked out a bearish pennant, a robust decline below the $17,200 resistance can trigger a patterned breakdown. Also, with the price action struggling to sway past the 20/50-day Moving Average, the sellers exhibited greater control in the market as they steered the trend to their fancy.
Even so, CoinCodex, a crypto forecasting portal, projected that Bitcoin could break its immediate resistance and enter the $17,800 region by January next year. Additionally, Changelly also took a bullish stance while forecasting that BTC could go as high as $19,500 by the next month.
Nonetheless, the Relative Strength Index (RSI) struggled to breach its midline and tilted in favor of bears. A close above the midline could hint at a possible change in momentum toward the buyers.
The actual CPI inflation rates could impact the Fed’s interest rate decision in the days to come. A potential increase in the rates to control inflation could induce poor performance in the crypto market. While Bitcoin would be at the forefront of taking this brunt, investors should carefully assess the market conditions before opening a long position.
Also, investors should track the Federal Reserve’s Federal Open Market Committee’s (FOMC) projections in the coming days to better understand the macroeconomic impact on BTC’s price. On the other hand, not-so-disappointing inflation or interest rate hikes could bolster buyers to protect Bitcoin’s immediate support level.
While the possibility of a bull run still isn’t entirely certain, investors should consider extending their portfolio to some promising high-ROI potential crypto presales.
FightOut – New M2E App with Unique Rewards Mechanism
One viable alternative to Bitcoin that investors may consider is FightOut. Unlike Bitcoin, FightOut is a presale crypto, meaning it’s still in the early stages of its development. However, given the project’s lofty goals, it could provide similar (or better) returns over the long term.
Put simply, FightOut is a ‘Move-to-Earn’ (M2E) crypto app that provides tokenized rewards to users for completing workouts. The app tracks users’ movements and exercises using smart technology, awarding REPS tokens whenever a workout or fitness-based challenge is concluded.
As noted in the whitepaper, REPS is an off-chain currency that can be used to buy items in the FightOut Store or pay users’ monthly membership fees. Thus, users can save their REPS tokens by working out consistently and use them to purchase valuable items like apparel, workout equipment, or supplements.
Each user will also have a ‘soulbound’ NFT avatar incorporated into their app, which develops as the user completes workouts. The avatar will have an array of stats and attributes that increase over time – thereby ‘gamifying’ the process of getting fit.
Why Should Investors Add FGHT Tokens to their Portfolio?
At the heart of FightOut’s ecosystem is FGHT, the project’s native ERC-20 token. Unlike REPS, FGHT is hosted on the Ethereum blockchain and will have several use cases – including being used to buy additional REPS. As noted in FightOut’s roadmap, the developers even have plans to launch a ‘FightOut Metaverse’, with FGHT set to be the native transactional currency of this world.
In addition to the FightOut Metaverse, the development team has also stated an exciting goal of opening 20 FightOut Gyms in cities worldwide. These physical locations will enable members of the FightOut community to meet up and complete workouts – all whilst earning REPS. Each gym will also feature a health bar, co-working space, and production studio.
To fund these ambitious goals, FightOut’s team is hosting a presale to raise capital and awareness of the project. During the presale, investors can buy FGHT tokens early for a discounted price of $0.0166. However, only a limited number of tokens are available at this price point – once they’re gone, the token price will increase substantially.
Finally, investors can even obtain a bonus of up to 50% on their purchased amount by opting for a larger investment size and more extended vesting period. This bonus promotion will only last until $5m has been raised – and with over $2.5m raised in under two weeks, this threshold is likely to be hit soon.
Interested parties can learn more about FightOut by joining the official Telegram channel.
Dash 2 Trade – An Exceptional Crypto Analysis Platform That’s Raised Over $11m
Dash 2 Trade is a unique and equally useful crypto analysis and social trading platform. Thankfully, investors still have the chance to grab the D2T tokens while the platform has entered its final stage of the presale.
Dash 2 Trade’s top-notch features have invited a ton of attention as the platform rushed through its presale stages to raise over $9.5 million USDT. The platform’s native ‘D2T’ token is at the center of its functionality and enables users to access its unique features.
Why Should Investors Add the D2T Tokens to Their Portfolio?
Dash 2 Trade’s high-level features help investors spot profitable buy/sell opportunities in the market. The portal has formulated an effective structure that distills strong trading strategies, presale information, listing alerts, social insights, technical indicators, and so on.
While macroeconomic factors affect investor sentiment and investment decisions, buyers and sellers are on the lookout for the best cryptos to buy. Dash 2 Trade’s timely social metrics can aid investors in creating trading strategies.
As per the platform’s roadmap, Dash 2 Trade aims to get a CEX/DEX listing and launch its Dashboard by the next quarter. Consequently, given the chances of an increase in price, investors should consider buying the tokens while they are still at a relatively low price.
While Bitcoin’s pathway keeps getting wobbly, investors hope to find the next crypto to explode. To enable this, Dash 2 Trade’s strategy builder helps investors build solid trading strategies. Moreover, the platform’s backtesting portal creates a conducive environment for investors to test the effectiveness of their strategies.
D2T Subscription Structure and Tokenomics
The analytics platform has developed a dynamic subscription structure for its users. The structure is split into the following tiers:
- Free Tier: The users aren’t required to hold any D2T Tokens while they gain access to Dash 2 Trade’s tier-1 pricing information, and limited market/social metrics. While users will have access to limited features on the platform, this tier can entice them to consider other subscription tiers.
- Starter Tier (400 D2T/month): Users can explore The platform’s cutting-edge on-chain analytics, backtesting platform, and automated trading tools among other things.
- Premium Tier (1000 D2T/month or 9600 D2T/year at a 20% discount): In this tier, users will have access to all the platform’s features including access to trading competitions, whale alerts, and so on.
Dash 2 Trade’s tokens have an upper limit of 1 billion tokens. Given heightened investor interest and the success of its previous presale stages, investors should consider buying the D2T tokens while they still have a chance.
Der Beitrag Bitcoin Price Prediction – Can BTC Find a Breakout Rally? erschien zuerst auf Crypto News Flash.
