Bitcoin update price BTC flat crypto mix problem and Christmas

Bitcoin lunch: price BTC and crypto flat. Weekly forecast, next bull?

After a volatile week, we are ready for the last Bitcoin lunch of the week. First we look at the live Bitcoin price and the prices of the top 25 crypto. Then we look at the liquidations resulting from yesterday’s crash. Next, we analyze the expected Bitcoin price for next week and see when we can expect the next record bull run.

We start of course with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price and prices top 25 crypto are flat

At the time of writing, the live Bitcoin price is quoting EUR 19,873.10 ($20,906.10). This is 0.68% lower than during our Bitcoin lunch yesterday.

After all the volatility of the past week, we also see remarkably flat prices for the top 25 crypto. There are outliers up and down. Polkadot (DOT) records the biggest loss at -3.85% at the moment. The biggest gain is for FTX token (FTC), which is recording +3.85%. On the website of you can analyze all live crypto prices 24 hours a day, including the whole weekend.

Bitcoin nears magic limit, liquidations to follow

We have now seen Bitcoin (BTC) come dangerously close to $20,000 on a number of occasions. After the uptrend resulting from the Fed’s interest rate decision, this was a bit of a scare for many investors. We therefore see that many long positions are again being liquidated. In the last 24 hours alone, more than $ 200 million dollars disappeared.

By the way, up to now the price always bounces back when we approach this psychologically important limit of $20,000. The question is whether the market will sustain this.

Bitcoin price week forecast

Currently, the price of Bitcoin is below its simple 200-day moving average (around $21,527). This happened only 5 times before in the history of the BTC and each time a quick recovery followed.

The market conditions are significantly different this time. For example, the correlation with equity markets (which are in a downturn) is now much higher. Also, the macroeconomic outlook is poor and there are fears of a recession.

For now, the market does not seem to have any immediate intention to buy the dip and bring the price back above the 200 week SMA. Indeed, the largest crypto is in danger of falling below $20,000 and that could trigger a massive sell-off. The forecast for the coming week is therefore bearish. You can see this in the video analysis below.

If the price indeed shoots below this critical limit there is a “last line of defense” at $19,804 (the 2017 price record). If this is not enough to support the price, a free fall to the zone between $ 12,383 and $ 11,753 is imminent. In a worst case scenario, we can even expect the price to fall towards the so-called Pont of Control (POC), which lies at $9,467.

Reliable analyst also predicts BTC fall

Jeffrey Grundlach is CEO of investor DoubleLine. He previously correctly predicted the price’s decline to $20,000. Yesterday he gave an interview to CNBC about his new price prediction. As you can see below, he supports the technical analyses and also takes into account a price drop of 50%.

When will the next BTC record bull run come?

With that, the next question is of course when will the poison cup be empty and we can expect the next record rally. The positive is that many experts still foresee it. The negative is that we may have to wait until 2024 for it.

Indeed, it is expected that by then we will be able to iron out a number of uncertainties. For example, the new crypto law should be clear by then and the FED should have inflation under control so that interventions in financial markets are not necessary. Also, the next Bitcoin halving will take place in that year.

We are curious and eagerly await all developments.

Want to stay up to date on the latest stock price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”

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