Bitcoin Price and Ethereum Prediction; Can BTC Fall to $15,500 Today?
BTC fell nearly 2% to $16,480 on December 30, making Bitcoin price prediction bearish. Similarly, Ethereum is having a bearish moment, possibly due to the release of US unemployment claims figures, which increased demand for the US dollar, driving a selling trend in the negatively corrected crypto market.
In the week ending December 24th, the number of new claims for unemployment benefits filed by Americans increased by 9K to 225K, which was in line with market expectations of 225K. The 4-week moving average, which considers weekly changes, stayed the same at 221K, which shows that the job market is tight.
A news announcement dated December 29 announced the resignation of Bitfarms co-founder and CEO Emiliano Grodzki. The mining firm was established in 2017 by Emiliano Grodzki and Nicolas Bonta.
According to the rumors, while Grodzki will continue to serve as a director, Bonta will now serve as the board's chairman. In the wake of Grodzki's departure, Geoffrey Morphy, previously President and COO, has been promoted to CEO.
Morphy said:
“Challenging times are precisely why our emphasis on operating efficiency, cost controls, corporate governance and a diversified portfolio of underutilized energy sources are so important and position us for success in all environments."
Bitcoin miners have been hit hard by the market downturn, seeing their daily earnings hit historic lows. Neither Bitfarms nor any other company has been immune to the present market condition, as the company has posted consecutive quarterly losses for the past two months. This has the potential to drive Bitcoin and other altcoin prices even lower.
The current price of a bitcoin is $16,503, and the volume of trades in the last 24 hours is $14 billion. On the
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