Advertisement
Advertisement
Advertisement
BTC Price Prediction: Today’s Bitcoin Price, 25th Nov 2022

BTC Price Prediction: Today’s Bitcoin Price, 25th Nov 2022

BTC Price Prediction: Today’s Bitcoin Price, 25th Nov 2022

BTC Price Prediction: Today’s Bitcoin Price, 25th Nov 2022

Advertisement

Bitcoin’s upward trend was unable to be sustained, and it dropped below $16,650. But Bitcoin is moving in a bullish direction now that the dovish FOMC meeting minutes have been made public.

The FOMC minutes state that a “Substantial Majority” of Fed officials anticipate a “soon” slowdown in rate increases. The majority of participants in the Open Market Desk survey believed that the most likely outcome of the December meeting was a hike in the federal funds rate target range of 50 basis points.

Additionally, a rise in Bitcoin prices was precipitated by the passage of legislation by New York Governor Kathy Hochul banning some bitcoin mining operations that use carbon-based energy.

Today Bitcoin Price

DATEBTCUSD
Today0116,565.71

Bitcoin Price Prediction

The price of Bitcoin is currently $16,509, and $33 billion worth of transactions take place every day. In the past day, Bitcoin has increased by more than 3%. With a live market cap of $348 billion, CoinMarketCap is now ranked first. 19,215,037 BTC coins are now in circulation out of a total supply of 21,000,000 BTC coins.

Advertisement

Since it first started trading at $16,215, the BTC/USD pair has fluctuated between a high of $16,648 and a low of $ 16,168. Near the $16,300 mark, Bitcoin is currently finding rapid support. The chance of a bullish reversal is raised by candles that close above this level.

A bullish engulfing that breaks past the $16,350 resistance and closes above it suggests that the bullish trend may continue. Consequently, additional purchasing pressure may cause an upswing to reach resistance at $17,180.

There can be additional buying chances up till the $18,650 level, which is extended by the 38.2% Fibonacci retracement level, if the $17,180 level is broken once again.

The RSI and MACD are both in a purchasing zone, therefore we can anticipate the rally to continue. BTC might reach the $17,600 level if the $17,000 threshold is breached.

A break of this level could push Bitcoin as low as $15,670. On the downside, Bitcoin’s support is still at $16,000.

Also Read

ETH Price Prediction: Today’s Ehereum Price, 25th Nov 2022
ETH Price Prediction: Today’s Ehereum Price, 25th Nov 2022

With a 7.4% increase in mid-week trade, the price of Ethereum has...

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Live News.


End of Article
BOL Stories of the day
Cryptocurrency Price Prediction: ETH, BTC, Cardano, 5th Dec 2022
Cryptocurrency Price Prediction: ETH, BTC, Cardano, 5th Dec 2022
Decentraland Price Prediction: Today’s Decentraland (Mana) Price, 5th Dec 2022
Decentraland Price Prediction: Today’s Decentraland (Mana) Price, 5th Dec 2022
Doge Price Prediction: Today’s Dogecoin Price, 5th Dec 2022
Doge Price Prediction: Today’s Dogecoin Price, 5th Dec 2022
Quant Price Prediction: Today’s Quant Price, 4th-Dec-2022
Quant Price Prediction: Today’s Quant Price, 4th-Dec-2022
Litecoin Price Prediction: Today’s LTC Price, 4th-Dec-2022
Litecoin Price Prediction: Today’s LTC Price, 4th-Dec-2022
Gold Rate in Kuwait – Today’s Gold Price in Kuwait – 04 Dec 2022
Gold Rate in Kuwait – Today’s Gold Price in Kuwait – 04 Dec 2022

Next Story