Bitcoin Price Forecast As BTC Stabilizes At $16,500: Time To Buy?

The major cryptocurrencies it’s red this morning on december 17 A total reduction of over 6% Showing a total market capitalization of $797.45 billion. Bitcoin is no exception to this trend and It fell a little more than 4.4% to $16,724 Ethereum, on the other hand, shows a wider loss of 7.5% at $1,180.

Over the past 24 hours, the total market volume has increased by 38.50% to $47.36 billion. The total DeFi volume is currently $2.67 billion, which is 5.6% of the total volume, and stablecoins currently have $43.54 billion in transactions in 24 hours, which is 91.92% of the total volume.

The Japanese government will reduce the 30% tax on cryptocurrencies

Whether it makes a profit or not Japanese cryptocurrency companies must pay a A flat tax rate of 30% on their assets. It appears that some local businesses have decided to relocate their operations due to increasingly onerous tax regulations in recent years.

The Liberal Democratic Party (Japan’s ruling party) has made fixing this situation a top priority because of the damage it has done to the country’s economic growth. Japan’s Liberal Democratic Party is an ally of the United States in defense and international politics and favors sweeping administrative reforms.

In Japan, this includes implementing reforms such as taxation to stand the test of time and economic stress.

Japan’s ruling party’s finance committee held a meeting on December 15 to discuss ways to boost economic growth. Discussion of agenda items was also included Possible changes to the Tax Code.

At the same time, they accepted the offer presented in August. The plan has a purpose eliminate profit taxes on the issuance or holding of tokens by cryptocurrency companies. The Japanese government wants to encourage the development of the IT and financial industry by reducing the tax burden on domestic companies in the field of cryptocurrency.

Tax legislation is more lenient about cryptocurrency will be presented to the parliament in January will be implemented during the next financial year starting from April.

Bitcoin Price Prediction

Current price of Bitcoin $16,724 and a 24-hour trading volume of $26 billion. Bitcoin price is down about 4.4% since yesterday. In fact, BTC had support at $17,250 extended by the 50-day moving average. The increased selling pressure resulted in a downward breach of this support, sending the BTC/USD pair inexorably down to $16,570.

Bitcoin Price Chart – Source: Tradingview

Traders typically rely on technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) to measure an asset’s price action and predict future trends. These indicators currently give us a bearish trend for bitcoin. However, they have entered the oversold zone: it shows high probability of slight bullish correction bitcoin in the coming days.

This is further supported by BTC closing candlesticks above the $16,550 level. Bullish correction to $17,000 and a price higher than $17,250 is relatively possible.

On the other hand, a break below the new support level of $16,555 could lead investors to lower the selling trend, i.e. $16,200 or $16,000.

Cryptocurrencies that offer high returns

The cryptocurrency market has been trading lower for several weeks, prompting some traders to find alternatives with greater short-term potential. Cryptocurrency pre-sale exposures are well known and we have selected some of them The main interesting pre-sale is currently on the market. They can allow savvy traders to invest with the prospect of strong capital gains.

FightOut (FGHT) – Pre-sale has started

Fight OutA new Move-to-Earn (M2E) program and gym chain that aims to bring fitness lifestyle to web3 has launched a pre-sale, and investors believe the project has the potential to change the current landscape of M2E.

While existing M2E apps like StepN only track steps taken and require expensive non-performance token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding users for their workouts and activities and requires no expensive purchases .

FightOut FGHT tokens are currently trading at 60.06 FGHT per 1 USDT and interested investors are encouraged. act quickly to secure the verseswhich is pre-sale has already earned more than $2.8 million in just a few days.

Dash 2 Trade (D2T) – Entering the final stage before the sale

Those looking to invest in a promising cryptocurrency trading platform startup should consider Dash 2 Trading. The thriving social analytics and trading platform with its unique features is hoping to take the cryptocurrency trading space by storm.

Trading signals, indicators, pre-sale token rating system, token list alert system and strategy testing tool are some of the features offered. The Dash 2 Commerce ecosystem will be powered by a D2T token that users must purchase and hold to use the platform’s features.

Dash 2 Trade is currently running a pre-sale at deeply discounted prices sales recently reached $10 million. The pre-sale dashboard will be ready on Friday, the development team is currently ahead of schedule. The tokens are currently trading at $0.0533 per token and will be listed on several centralized exchanges within the next month.

Calvaria (RIA) – Now in the last pre-sale phase

In 2022, mainstream blockchain-based games like Axie Infinity have lost significant traction. As a result, many investors interested in the cryptocurrency gaming universe are looking for other options.

Calvary, the new fighting card crypto game to win, can be a viable option. Calvaria aims to increase cryptocurrency by bridging the gap between the real world and cryptocurrency in the form of a fun and accessible game.

Calvaria’s RIA token presale should be considered by investors. Calvaria has now raised $2.47 million and nearing the end of the sale, with only 20% of the remaining tokens.

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Crypto news

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