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Bitcoin Price Prediction as BTC Touches $16,300 Support – Here Are Some Key Levels to Look Out For

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Bitcoin Price Prediction as BTC Touches $16,300 Support – Here Are Some Key Levels to Look Out For

On December 20, Bitcoin price prediction is more or less unchanged as BTC continues to trade choppy near the $16,800 level. It is currently trading at $16,808, up 0.21% in the last 24 hours. The BTC/USD pair has ranged from a high of $16,858 to a low of $16,413 and its value has fallen by approximately 2.5% in the last week.

Bitcoin Wallet Maker Foundation Raises $7 Million to Promote Self-custody

Foundation Devices, a Bitcoin-focused company, announced on December 19 that it had completed a $7 million initial fundraising round in response to rising demand for self-custody solutions. The Boston-based company plans to use the funds to continue developing hardware and software wallets for cryptocurrencies under the “digital sovereignty” branding.

Greenfield Capital, Lightning Ventures, Unpopular Ventures, Warburg Serres, and Bolt were among the other investors in the round, which was led by blockchain investment firm Polychain Capital.

Foundation’s main product is Passport, a Bitcoin hardware wallet with “air-gapped security” that excludes external USB or wireless communications. Instead, it has a color display built-in, a camera, and QR codes for interaction. Envoy, the company’s mobile software wallet, is also available. In the last 18 months, the company claims to have sold “thousands” of Passport wallets.

The funding comes as more companies work to improve the usability and appeal of hardware wallets. Users can use hardware wallets, a physical storage option for Bitcoin and other cryptocurrencies, to disconnect their private keys from the internet and store them offline.

Protecting freedom and privacy is more important than ever in light of global censorship, privacy violations, and irresponsible banking and monetary policies. As a result, advancements in hardware wallets are encouraging investors to trust their crypto holdings, which may benefit BTC/USD.

Kazakhstan Increases Bitcoin Mining Regulations

A bill was approved by the Kazakh parliament last week. It will levy a corporation tax on bitcoin miners and impose national energy usage limits on the industry. The bill, titled “On Regulating Digital Assets in Kazakhstan,” was one of three pieces of crypto-related legislation approved by Kazakhstan’s lower house, known as the Mazhilis, last Thursday, according to the parliament website.

The law, according to current negotiations, will give miners access to approximately 500 MW. Furthermore, government-registered miners will be allowed to purchase electricity from the grid only when there is an oversupply. The bill will now be sent to the Senate for review and a second vote session. If the bill is also approved by the Senate, it must be signed into law by the president.

If the Senate votes on amendments, it may be referred back to the Mazhilis. The new law, according to Didar Bekbau, founder of the local mining company, may discourage investment.

Bekbau claimed that trust has already been eroded, that many investors have fled Kazakhstan, and that development plans have been scrapped. Despite the bill and power rationing, miners are bullish on Kazakhstan’s future in the crypto sector and the BTC/USD.

Bitcoin Price 

Bitcoin’s current price is $16,810, and the 24-hour trading volume is $22 billion. The BTC/USD pair has gained nearly 0.30% in the last 24 hours, while CoinMarketCap currently ranks first with a live market cap of $323 billion.

Bitcoin Price & Tokenomics – Source: coinmarketcap

Bitcoin has rebounded to the $16,700 trading area, after a bearish breakout of the $16,550 to $16,800 trading range. Bitcoin’s immediate barrier remains above $16,800 for the time being, and candle closings below this level continue to imply the probability of a bearish trend. 

Bitcoin’s immediate support is at $16,250 or $16,100, and a bearish breakthrough of this level might expose BTC to $15,650.

Bitcoin Price Chart – Source: Tradingview

The MACD and RSI indicators suggest a mixed bias, with the RSI remaining in the selling zone and the MACD crossing into the buying zone.

Finally, the closure of candles below the 50-day simple moving average suggests that the downturn may continue.

High-Profitability Alternative Coins

Although the entire cryptocurrency market is negative, only a few coins are making news. Let’s explore them! 

FightOut (FGHT) – Presale Launches

FightOut, a new move-to-earn (M2E) fitness app and gym chain intending to bring the fitness lifestyle to web3, has opened its presale, drawing investors who perceive the initiative as having the potential to disrupt the present web3 M2E landscape.

While other M2E applications like StepN only count steps and require pricey non-fungible token (NFT) buy-ins to participate, FightOut takes a more comprehensive approach to tracking and paying users for exercise and activity that does not require any such buy-ins.

Investors are urged to act soon to acquire their FGHT tokens at the current price of 60.06 USDT per 1 USDT, since the presale raised more than $2.82 million in just a few days.

The FightOut crypto ecosystem will be powered by the FGHT token.

Visit FightOut Now

Dash 2 Trade (D2T) – Final Stage of PreSale

Dash 2 Trade is an intriguing cryptocurrency trading platform firm to invest in. The new analytics and social trading platform are expected to take the crypto trading industry by storm due to its unique features. The features include trading signals, social sentiment, and on-chain indicators, a presale token scoring system, a token listing alert system, and a strategy back-testing tool.

The D2T token, which users must purchase and retain in order to use the platform’s services, will fuel the Dash 2 Trade ecosystem.

Dash 2 Trade is now having a token presale at significantly discounted pricing, with sales just topping $10.2 million. Tokens are now available for purchase at $0.0533 per token and will be offered on a variety of centralized exchanges over the following month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final Presale Stage Now

RIA, a new play-to-earn battle card crypto game, could become a reality. Calvaria’s mission is to enhance bitcoin acceptability by constructing a bridge between the real world and cryptocurrencies in the form of a fun and easy-to-play crypto game. 

Investors may be interested in Calvaria’s RIA token presale. With only 19% of tokens remaining, Calvaria has received $2.5 million and is reaching the finish of its fundraising campaign.

Visit Calvaria Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

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Kim Cardanoshian

Journalist. I am interested in Games, GameFi, Play-to-Earn, Money and Entertainment

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