BTC Price Today: Can Bitcoin Hold $17k?
After falling from more than $21k on 6 November, 2022, to less than $16k on 20 November, Bitcoin has had a good start to December. The BTC price rose as high as $17,413.89 yesterday and was holding $17k into the Wall Street open today.
Source: TradingView (BTC/USD)
BTC is trading at $17,002 at the time of writing. Will the BTC price today surpass $17.5k? With the festive season in full flow, how high will BTC trade by the end of this year?
BTC price today: will Bitcoin cross $17.5k?
Having hit three-week highs, according to TradingView data, Crypto Twitter (CT) certainly is upbeat!
According to Michael van de Poppe, CEO of the trading platform Eight, if Bitcoin cracks $17.4-17.6k, it is likely to gain momentum and rise to $19k. Having crossed $17.4k yesterday (5 December, 2022), it remains to be seen whether Bitcoin can sustain its price levels and continue to increase in price.
Source: @CryptoMichNL (Twitter)
Davinci Jeremie, a public speaker and crypto educator, posted an interesting tweet asking CT for their BTC price prediction this Christmas.
Source: Davinci Jeremie (Twitter)
Now, what makes this tweet interesting is the (mostly) positive outlook of CT heading into Christmas and, in particular, what Whale Coin Talk, a Web3 media group, had to say on the matter:
“So hard to put a number on this current market - would be best to see the volatility subside as we enter the New Year. Then maybe we can start discussing price predictions!"
While most of CT expects an upturn by Christmas, the Whale Coin Team feels it is currently difficult to predict the BTC price. That said, if volatility subsides as we head into the New Year, as has been the case in early December, we could predict how Bitcoin may fare in early 2023.
What to expect from BTC heading into the New Year
2022 has been nothing short of a rollercoaster ride, with all that has transpired with the Terra ecosystem and FTX in particular.
Many projects are building towards a bull market. If Bitcoin holds its price levels, we may see a return to $20k sooner rather than later. If we don't have another calamitous project downfall this month, we could be in for a green Christmas and New Year (DYOR, NFA)!
Author: Surajdeep Singh
Surajdeep Singh has been working in the tech sphere as a marketing guru and journalist for over 6 years, with his speciality laying in blockchain and Web3. He has donned several hats in marketing and journalism over the years and worked with many reputable brands. Feel free to reach out to him on LinkedIn!