BTC Price Prediction: Today’s Bitcoin Price, 1st Jan 2023

Bitcoin price prediction stays constant as the cryptocurrency consolidates in a narrow range of $16,450 to $16,750. After failing to break out of their consolidation zones, the two most valuable cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are currently trading at about $16,500 and $1,100, respectively.

The currency’s downward rise could be attributed to the dismal cryptocurrency market, which normally supports riskier assets like Bitcoin (BTC) and Ethereum.

In 2022, the price of cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), has steadied, and for the first time in months, the market capitalization of all cryptocurrencies has fallen below $800 billion. Geopolitical unpredictability, growing COVID concerns, the Fed’s tightening of policies, and the collapse of the Terra/Luna ecology are a few causes of this.

Today Bitcoin Price

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DATE	BTC	USD
Today	01	$ 16,578.74

Bitcoin Price Prediction

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The price of one bitcoin is currently $16,564, while in the previous day, $15 billion worth of trading was conducted. On the 4-hour time scale, Bitcoin is finding strong support at $16,460, which is being extended by an outward trend line that can be seen in the chart below.

If the $16,720 level is successfully broken, the price of bitcoin may rise to the next resistance level of $16,990. A bearish breakout of the $16,460 level might expose Bitcoin to quick support levels of $16,200 or $16,000 because the RSI and MCD are negative.

BTC might be exposed to the $15,500 level if today’s unfavorable collapse of $16,000 continues.

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