Bitcoin Price Prediction as BTC Spikes Up 4.7% in a Week – Time to Buy?
On November 30, the Bitcoin price prediction was bullish as BTC crossed the triple-top resistance level of $16,680. Bitcoin (BTC), the world's largest and most popular digital token, has extended its previous winning streak and reached an intra-day high above the $17,000 mark.
After beginning the week at a low of $16,054, Bitcoin BTC has risen nearly $17,000 in the last 24 hours. If the price rises further, more bulls may enter the market, pushing BTC above $17,500 in the near future. Meanwhile, Ethereum, the second-largest cryptocurrency, has risen and is now trading above the $1,270 mark.
However, the reason for its upward rally could be attributed to the positive cryptocurrency market sentiment, which tends to underpin many cryptocurrencies, including Bitcoin. The global cryptocurrency market cap was $852.17 billion, up 2% in the last 24 hours.
The global cryptocurrency market has performed admirably and has received assistance from an unknown source. However, its rise could be linked to Federal Reserve Chair Jerome Powell's upcoming speech.
In addition, other well-known cryptocurrencies such as Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) have also seen gains. The Fantom (FTM) token ended up being the biggest gainer, with a 24-hour increase of more than 9.50%. As a result, the bullish crypto market was viewed as a key factor in keeping BTC prices higher.
Genesis, a cryptocurrency brokerage in the United States, announced on Wednesday that it was attempting to avoid bankruptcy, following a report on Tuesday by Bloomberg News that the company's creditors were banding together with restructuring attorneys to avoid insolvency.
The unexpected failure of FTX, which has approximately $175 million in frozen funds in its
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