Bitcoin Price Prediction as BTC Completes 61.8% Fibonacci Retracement - Time to Buy the Dip?
On Friday, the Asian session saw more selling in the cryptocurrency market as the US Federal Reserve and the European Central Bank raised interest rates. Despite the BTC sell-off, the Bitcoin price prediction remains bullish as long as it remains above the $17,000 support zone.
The global crypto market worth decreased 1.18% to $850.21 billion in the previous day, as major cryptocurrencies plummeted early on December 16. Over the last 24 hours, the total crypto market volume plummeted 26.85% to $33.96 billion.
The entire volume in DeFi is currently $1.79 billion, accounting for 5.26% of the overall 24-hour volume in the crypto market. The overall volume of all stablecoins is now $31.45 billion, accounting for 99.60% of the total 24-hour volume of the crypto market.
Let's have a look at the fundamental side of the market.
After being banned from Twitter last year, Donald Trump turned to a new network called Truth Social, where he teased a "big surprise" earlier this week. A number of people theorized that Trump will reveal his vice presidential pick for the 2024 race.
Some of Trump's most ardent supporters were let down by the revelation that there would soon be an NFT collection with Trump as the subject. On Thursday, he announced, "My official Donald Trump Digital Trading Card collection is here!"
Despite the fact that Trump never referred to "NFT" in the article, that is exactly what the "digital trading cards" are:
There will be 45,000 NFTs on the Polygon blockchain, and they will cost $99 apiece.
All 45,000 NFTs were purchased in just 12 hours, according to statistics from OpenSea, despite receiving widespread ridicule from both Trump supporters and adversaries. This amounts to $4.45 million if each donation was $99.
Furtherm
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