Bitcoin price prediction seems to have turned bearish after that the breakout of the $16,660 level on January 3. Candles that close below $16,660 have the potential to drive the downtrend in BTC.
One of the senior contributors to the Bitcoin Core team, Luke Dashrj, has done just that reported that he lost more than 200 BTC (about $3.34 million) last weekend after the keys to his wallet were stolen. The developer tweeted about the incident on Monday, January 1, adding:
“My PGP key has been hacked and many of my bitcoins have been stolen. I don’t know how. Please help me.”
PGP, short for “Pretty Good Privacy”, is a popular and secure encryption tool. To prevent unauthorized access to sensitive information stored on a server, it can encrypt that information. Before losing his keys, Dashrj allegedly used PGP to check if malware had been introduced into the Bitcoin Knots and Bitcoin Core downloads.
Bitcoin Core is the most widely used software to connect and manage a node on the Bitcoin network. Bitcoin Knots, on the other hand, has more advanced features than Bitcoin Core but is less tested, making it more vulnerable to attacks.
The developer eventually tracked down the address of the stolen bitcoins, but hadn’t received any help so far. He had complained in the past that the FBI and local authorities ignored his requests for assistance. Hours later, he wrote, “It doesn’t matter. To put it simply, it’s pretty much forgotten.”
Six months later, bitcoin’s market share has grown to 40%
As of July 2022, bitcoin’s market share was 40.16% and that was the last time it exceeded 40%. Since October 2020, BTC has dominated the market as shown by the orange line in the chart above.
From the year 2021, BTC had already achieved over 70% dominance. In January 2022, however, that figure dropped to just over 40% and continued to decline throughout the first half of the year.
There was a brief period in late June where BTC dominance reached 48%, but otherwise remained consistently below 40%.
The current price of bitcoin is $16,658, with trading volume of $14 billion in the past 24 hours. Technically, bitcoin faces significant resistance at $16,660, and a positive break from this level could impact future market trends.
The immediate barrier for BTC is $16,750 and a bullish break above this level could take the token to $16,950.
The RSI and MACD indicators have entered the buy zone, indicating the likelihood of a pullback, but the 50-day moving average serves as a significant headwind.
So, failure to breach the 50-day simple moving average (SMA) could lead to further selling towards $16,500. Therefore, BTC could find immediate support in the $16,350-$16,100 range.
Profitable cryptocurrencies to watch
Investors are looking for safer and higher yielding alternatives due to the market’s fear of losing out. Early investors have access to the most important pre-sales in the market.
The platform Fight (FGHT) works similar to a personal trainer, except that the FGHT token is proactively allocated for training time. All activity is logged and can be used to improve metaverse avatar stats.
Earning FGHT tokens encourages users to maintain a healthy lifestyle and practice enjoying the benefits of blockchain technology.
FightOut has thrived and attracted investors despite the general lack of liquidity in the bitcoin market. It has already raised over $2.59 million through its token sale, which started last week. The current sale price of 60.06 FGHT per $1 (FGHT can be purchased with ETH or USDT) will increase as the sale progresses.
Click 2 Exchanges (D2T)
Dash 2 Trade will be an Ethereum-based platform that will provide real-time analytics and social trading data when it launches in early 2023. Trading signals, on-chain analysis, strategy building tools, and news feed will be among the first features, helping new and experienced traders monitor bitcoin market volatility.
Only two days left of the end of the pre-sale, Dash 2 Trade, one of the most important ICOs of 2022, has unveiled the beta version of its dashboard. D2T has raised approximately $12.8 million in venture capital to date. D2T is the system’s entry coin and is now worth $0.0533 in presale after being sold to investors for $0.0476 previously.
C+Load (CCHG) is a Binance blockchain-based peer-to-peer payment system for electric vehicle (EV) charging stations.). It aims to widen customers’ access to carbon credits by rewarding people who recharge their electric vehicles at its terminals, which will go live in the second quarter of next year.
To demonstrate its scalability, the platform has already agreed to add 20% of Turkey’s electric vehicle chargers to its network. 1 CCHG costs $0.013 and can be purchased with BNB or USDT. So far, the initiative has raised over $62,000 in pre-sale funds.