Bitcoin Price and Ethereum Prediction; Economic Downturn Concerns for 2023
On Sunday, Bitcoin is trading sideways, maintaining a narrow range of $17,000 to $17,350 level. Similarly, Ethereum has risen above the $1,250 level, a support level that's extended by an ascending triangle pattern.
Major cryptocurrencies were trading in the red early on December 11 as the global crypto market cap increased 0.9% to $855.49 billion on the previous day. Over the last 24 hours, the total crypto market volume has decreased by 31.20 percent to $23.76 billion.
Let's take a look at the top 24-hour altcoin gainers and losers.
Osmosis (OSMO), ApeCoin (APE), and Stacks (STX) are three of the top 100 coins that have gained value in the last 24 hours. OSMO's price has risen nearly 12% to $1.01; APE's price has risen more than 7% to $4.23; STX's price has risen nearly 4.65%.
Three of the top 100 coins that have lost value in the last 24 hours include Chain (XCN), Celo (CELO), and Uniswap (UNI) is down roughly 5% to $0.0360, while CELO has down about 4% to trade at $0.5960. At the same time, UNI price is down more than 1% to $5.10.
As investors reduce their exposure to potential losses in anticipation of next week's newsworthy events, Bitcoin's price shows no sign of life. The US Congress will hold its first hearing into the FTX collapse on December 13, with the Senate Banking Committee following suit the next day.
Sam Bankman-Fried, the former CEO of FTX, has consented to appear before the panel on Friday in response to the subpoena. Due to their regulated nature, crypto values are likely to be affected long-term by the investigation, which is expected to last for weeks.
The outcome of the Federal Open Market Committee (FOMC) meeting scheduled for December 14 also has investors' attention. Markets appear to have already
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