Bitcoin price prediction is little changed from yesterday as BTC remains above the important support level of $16,550 and remains relatively stable at $16,761, up just 0.1%. Given the bullish technical signs, the market is waiting for a critical signal sooner to enter a typical uptrend. Nevertheless, the general climate of anxiety in the market keeps Bitcoin and other cryptocurrencies under pressure.
Sam Bankman-Fried cancels appeal against extradition
The former CEO of FTX, Sam Bankman-Fried, plans to appear in Bahamas court on Monday to withdraw his opposition to extradition to the United States, where he is charged with fraud. While dominating the crypto market by owning one of the largest exchanges in the world, Bankman-Fried acquired an estimated fortune of over $20 billion.
The 30-year-old cryptocurrency mogul was charged in Manhattan federal court Tuesday to steal billions of dollars from FTX customers and use that money to pay off debt, cover personal expenses, and invest in his crypto hedge fund, Alameda Research LLC.
If he agrees to extradition, he could face charges of computer fraud, money laundering and misuse of campaign funds in a US court.
Bankman-Fried will have to choose a plea and the judge will decide whether to release him on bail during his first trial in Manhattan, according to Margulis-Ohnuma. This hearing should take place within 48 hours of Bankman-Fried’s arrival in the United Statesthe lawyer said, adding that it would likely happen even sooner.
Mazars ends cooperation with cryptocurrency companies: Binance in danger?
Sam Bankman Fried’s fall from grace has been completed, and his rival, Changpeng Zhao, founder of cryptocurrency exchange Binance, is coming under increasing scrutiny.
Concerns were raised again on Friday then the auditing firm Mazars Group has suspended its cooperation on Binance and other cryptocurrency companies about reports purporting to show that the companies maintain sufficient reserves to cover any potential increases in consumer withdrawals.
Zhao has often stated that Binance does not embezzle customer funds, as FTX allegedly does, and his exchange can handle any amount of withdrawals. Binance has been around longer than FTX, meaning it has weathered past “crypto winters” such as the 80% drop in Bitcoin’s value between December 2017 and December 2018.
Anyway, these few days have been difficult. That’s enough lack of market confidence in “proof of reserve” reports de Mazars, which caused the company to cease all this work. This latest action by Mazars threatens to blur an accounting picture that many already thought was opaque.
Binance’s market dominance in the wake of FTX’s collapse does not sit well with an industry that preaches decentralization and diversification, even for those who ostensibly support CZ and its exchange.
The recent drop in cryptocurrency prices in response to news from CZ’s company is adding fuel to the fire, sending Bitcoin and other top altcoins down.
Bitcoin price prediction
The current price of Bitcoin is $16,761, almost stable compared to the previous day. Its 24-hour trading volume is $11 billion, which is a little and confirms the stability of the currency, but this volume usually remains for a weekend.
The BTC/USD pair is likely to find immediate support at $16,560 this Sunday. BTC prices may reach the 23.6% Fibonacci retracement level at $17,000 as the RSI and MACD indicators are in the oversold zone. We can therefore expect an upward correctiontoday or more likely tomorrow.
If it goes up, BTC is likely to face new resistance at $17,250, a level confirmed by the 38.2% Fibonacci retracement point and the 50-day simple moving average.
A break below $16,570, on the other hand, could expose BTC to a price decline towards $16,150.
Other high profit cryptos
A few cryptos are in the news due to the current turmoil in the cryptocurrency market. In fact, traders then look for other assets with potential, and these are often the case the pre-sale of new cryptos that offer these great opportunities. Let’s see them in more detail.
FightOut (FGHT) – Pre-sale launched
FightOut, a brand new Move-to-Earn (M2E) app and fitness channel that aims to bring a fitness lifestyle to the web3, has opened its pre-sales and investors believe the project has the potential to transform the existing landscape in M2E.
While existing M2E apps like StepN only track steps taken and require expensive NFT (non-fungible token) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity and does not require anything expensive purchase.
FightOut FGHT Tokens currently selling at 60.06 FGHT per 1 USDTand interested investors are encouraged to act quickly to secure their tokens, the presale has already raised more than $2.8 million in a few days.
Dash 2 Trade (D2T) – Presale enters its final phase
Dash 2 Trade is a startup cryptocurrency trading platform to invest in. With its unique features, the upcoming social analytics and trading platform intends to take the crypto trading industry by storm. Trading signals, on-chain indicators, a pre-sale token rating system, a token list warning system and a strategy backtesting tool are some of the features offered by this platform.
The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold to use the platform’s services. Dash 2 Trade is currently holding a pre-sale of tokens at significantly reduced prices, sales in excess of 10 million dollars. Tokens can currently be purchased for $0.0533 per token and will be available on several centralized exchanges over the next month.
Calvaria (RIA) – Final pre-sale phase now
A new game to earn combat crypto card game, RIA, is soon to become a reality. Calvaria’s mission is to increase the acceptability of crypto by building a bridge between the real world and cryptocurrency in the form of a fun and easy to play crypto game. Investors may then consider participating in Calvaria’s RIA token presale.
With only 20% tokens remaining, Calvaria has now earned $2.48 million and is nearing the end of its fundraising campaign.