Bitcoin Price Prediction As BTC Stabilizes At $16,500 – Time To Buy?
Bitcoin price prediction for December 17 is likely to reverse as BTC stabilizes above the $16,500 support zone. Major cryptocurrencies traded in the negative early in the Asian session, with the global crypto market worth falling 6.11% to $797.45 billion on the day for.
In the last 24 hours, the total crypto market volume has increased by 38.50% to $47.36 billion. DeFi’s total volume is currently $2.67 billion, accounting for 5.63% of the total 24-hour crypto market volume.
The total volume of all stablecoins is now $43.54 billion, accounting for 91.92% of the total 24-hour volume of the crypto market.
Japanese Government Cuts 30% Crypto Tax: Good Move?
Regardless of whether they generated profits in 2018 or not, Japanese crypto companies must pay a flat 30% corporate tax on their assets. Some local crypto companies apparently decided to relocate their operations as a result of the increasingly onerous tax rules in recent years.
The LDP has made correcting this situation a top priority because of the damage it has done to the country’s economic progress. The Japanese Liberal Democratic Party (LDP) cooperates with the United States on defense and international policy and prioritizes administrative reform.
In different contexts across the country, the term “administrative reform” can mean different things. Such ideas include implementing reforms such as taxation to withstand the test of time and economic stress.
The Tax Committee of Japan’s ruling party (LDP) met on December 15 to discuss ways to boost economic growth. Agenda items included a discussion of potential changes to the tax code.
At the same time, they adopted a proposal that had been introduced back in August. The plan aims to eliminate paper capital gains tax on token issuance or custody by crypto businesses. The Japanese government wants to encourage the development of the IT and financial industry by reducing the tax burden on local crypto companies.
The more forgiving crypto tax legislation will begin to be introduced to parliament in January, with implementation in the next financial year starting in April.
Bitcoin price prediction
Bitcoin’s current price is $16,742, and its 24-hour trading volume is $26 billion. Bitcoin’s price has fallen almost 4% since yesterday. On Friday, the BTC/USD pair found support at $17,250, which was extended by the 50-day moving average. Increased negative pressure, on the other hand, produced a bearish crossover below $17,200, sending the BTC/USD pair plunging towards $16,570.
Traders typically use technical indicators such as Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) to assess an asset’s price movement and predict future trends. These indicators currently indicate a bearish trend for Bitcoin, but these have entered the oversold zone, suggesting that we may see a slight bullish correction in Bitcoin.
This is further supported by the fact that BTC/USD has closed Doji candles above the $16,550 level, indicating that a bullish correction to $17,000 and even higher to $17,250 is possible.
A bearish breakout below the $16,555 support level, on the other hand, could extend the selling trend to $16,200 or $16,000.
Alternative coins with high profitability
The crypto market has been trading bearish for several weeks, prompting some traders to consider alternatives with greater short-term potential.
The following are some of the market leading pre-sales, which allow investors to get in on the ground floor.
FightOut (FGHT) – Pre-launches
FightOut, a brand new move-to-earn (M2E) fitness app and fitness chain that aims to bring the fitness lifestyle to the web3, has opened its pre-sales, and investors believe the project has the potential to transform the existing web3 M2E landscape.
While existing M2E apps like StepN only track steps and require expensive non-fungible token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding users for their exercise and activity, requiring no expensive purchases. ins.
FightOut’s FGHT tokens are currently selling for 60.06 USDT per 1 USDT, and interested investors are encouraged to act quickly to secure their tokens, with the pre-sale raising over $2.8 million in just a few days. The FightOut crypto ecosystem will be powered by the FGHT token.
Visit FightOut Now
Dash 2 Trade (D2T) – Pre-sale enters final phase
Those looking to invest in a promising crypto trading platform startup should consider Dash 2 Trade. With its unique features, the upcoming analytical and social trading platform hopes to take the crypto trading space by storm.
Trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy backtesting tool are among the features. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users must purchase and hold to use the platform’s features.
Dash 2 Trade is currently holding a token pre-sale at deeply discounted prices, with sales recently reaching $10 million. The pre-sale dashboard will be available on Friday, with the development team currently ahead of schedule. Tokens are currently selling for $0.0533 per token and will be listed on several centralized exchanges within the next month.
Visit Dash 2 Trade here
Calvaria (RIA) – last pre-sale phase now
By 2022, major blockchain-based games like Axie Infinity lost significant traction. As a result, many investors interested in the cryptocurrency gaming space are looking for other options.
Calvaria, a new game to earn fighting card crypto game, could be a viable option. Calvaria aims to increase crypto adoption by building a bridge between the real world and crypto, in the form of a fun and accessible crypto game.
Calvaria’s RIA token presale should be considered by investors. Calvaria has now raised $2.47 million and is nearing the end, with only 20% of tokens remaining.
Visit Calvaria now
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