BTC Price Prediction: Today’s Bitcoin Price, 18th Nov 2022

Web Desk

18th Nov, 2022. 01:00 am
Share

On November 18, Bitcoin is largely unchanged, but it is still under pressure since Genesis Trading, a provider of cryptocurrency financial services, has stopped allowing withdrawals from its lending section due to “extreme market turbulence” brought on by Sam Bankman’s FTX collapse.

Major cryptocurrencies declined early on November 17 as a result of the previous day’s over 1% decline in the market cap of all cryptocurrencies to $835 billion. The entire volume of the crypto market dropped more than 3% during the past 24 hours to $60.72 billion.

DeFi recorded a $3.30 billion total volume, or 5% of the cryptocurrency market’s overall 24-hour volume. $57.26 billion was the combined volume of all stablecoins, which represents more than 94% of the whole 24-hour volume of the cryptocurrency market.

Today Bitcoin Price

DATE	BTC	USD
Today	01	16,696.29

Bitcoin Price Prediction

Bitcoin is currently trading at $16,526 and has a $34 billion 24-hour trading volume. In the past 24 hours, Bitcoin has grown by less than 2%. Currently in first place, CoinMarketCap has a live market valuation of $349 billion, up from $324 billion.

19,208,887 BTC coins are now in circulation, with a maximum supply of 21,000,000 BTC coins.

The technical characteristics of Bitcoin haven’t altered much because it still trades exactly in line with our earlier Bitcoin price forecast. The price of bitcoin is consolidating between $18,000 and $16,000, with a breakout determining future price movement.

In the last four hours, Bitcoin has stabilized near the $18,100 level after finishing a 38.2% Fibonacci retracement. When the cost rises over $18,100, a positive crossover occurs.

The 61.8% Fibonacci level of $19,350 may now be revealed as the price of bitcoin. If Bitcoin is unable to surpass the $18,250 threshold of the 38.2% Fibonacci retracement, it may drop below $15,965.

The 50-day moving average and the relative strength index (RSI) are still negative, but the MACD has entered the buy zone. The currency’s decline is likely to continue if Bitcoin’s closing prices remain below $18,000; nearby levels of support are $16,000 and $15,850.