Bitcoin Price and Ethereum Prediction: What Are The Chances Of BTC Reaching $22,000?

cryptonews.com:

On January 18th, Bitcoin began to experience a bearish correction. It obtained support close to $20,500 and its trend seems sustainable. In this article, you will find the latest information regarding BTC and ETH's fundamental outlook and more. Read ahead for additional details!

Bitcoin, the world's largest and most well-known cryptocurrency, failed to extend its 14-day bullish rally, falling to around $20,759 as the current risk-off wave in the cryptocurrency market weakened riskier assets, such as Bitcoin and other cryptos.

According to the most recent figures, the global crypto market valuation has dropped by nearly 4% in the last 24 hours, from $999 billion to $969 billion.

Meanwhile, Ethereum, the second-largest cryptocurrency, failed to sustain its rally and lost more than 4% of its value, dropping to $1,526. 

 The US Justice Department and Treasury Department have accused Bitzlato Ltd. of money laundering and detained the company's creator in Miami, according to officials. 

Deputy Attorney General Lisa Monaco recently announced that the Hong Kong-based platform Bitzlato had been shut down and its creator, Anatoly Legkodymov, had been taken into American custody. 

This will prevent Bitzlato from providing services to criminals with ties to Russia.

The US initiated the Bitzlato campaign as the most comprehensive crackdown on crypto-criminal activities, so far. Its ripple effect caused a downturn in the global cryptocurrency market and shook investor confidence.

As data from the United States suggests, there could already be a recession with industrial production and retail sales both dropping in December by 0.7% and 1.1%, compared to the previous month. 

In the meantime, the Producer Price Index (PPI), which had previously