The price forecast for Bitcoin 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 before 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 once morest extradition
The former CEO of FTX, Sam Bankman-Fried, plans to appear in Bahamian court on Monday to withdraw his opposition to extradition to the United States, where he faces fraud charges. While dominating the crypto market by owning one of the largest exchanges in the world, Bankman-Fried acquired an estimated wealth of over $20 billion.
The 30-year-old cryptocurrency mogul was charged in Manhattan federal court on Tuesday for stealing billions of dollars from FTX clients and using that money to pay off debts, cover personal expenses, and invest in his crypto hedge fund, Alameda Research LLC.
If he agrees to extradition, he might 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 court proceeding in Manhattan, according to Margulis-Ohnuma. This hearing should take place within 48 hours of Bankman-Fried’s arrival in the United Statessaid the lawyer, adding that it was likely to take place even more quickly.
Mazars interrupts its collaboration with cryptocurrency companies: Binance in danger?
Sam Bankman Fried’s fall from grace has been finalized and his rival, Changpeng Zhao, founder of cryptocurrency exchange Binance, is coming under increasing scrutiny.
Concerns were raised once more on Friday when the audit firm Mazars Group has suspended its collaboration concerning Binance and other cryptocurrency companies on reports purporting to show the companies are maintaining sufficient reserves to cover any potential increases in consumer withdrawals.
Zhao has frequently stated that Binance does not embezzle customer funds like FTX allegedly does and his exchange can handle any amount of withdrawals. Binance has been around longer than FTX, which means it has weathered previous “crypto winters,” such as the 80% drop in Bitcoin’s value between December 2017 and December 2018.
Anyway, these few days have been difficult. Indeed, it is probably lack of market confidence in “proof of reserve” reports de Mazars which prompted the company to suspend all this work. This latest action by Mazars threatens to blur an accounting table that many already thought opaque.
Binance’s market dominance in the wake of FTX’s collapse doesn’t 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 adds fuel to the fire, sending Bitcoin and other top altcoins down.
Bitcoin Price Prediction
The current bitcoin price is of 16 761 dollars, almost stable compared to the previous day. Its 24-hour trading volume is $11 billion, which is little and confirms the stability of the currency, but this volume remains normal for a weekend.
The BTC/USD pair is likely to find immediate support at $16,560 this Sunday. The prices of BTC might reach the 23.6% Fibonacci retracement level of $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, may expose BTC to a price descent towards $16,150.
Other High Profit Cryptos
A few cryptos are in the news due to the current unrest in the cryptocurrency market. Indeed, traders then look for other assets with potential and these are often the pre-sales of new cryptos that offer these great opportunities. Let’s see them in more detail.
FightOut (FGHT) – Presale launched
FightOuta brand new Move-to-Earn (M2E) app and gym chain that aims to bring a fitness lifestyle to web3, has opened its pre-sale, and investors believe the project has the potential to transform the existing landscape of the M2E.
While existing M2E apps like StepN only track steps taken and require expensive non-fungible token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and does not require any expensive purchase.
FightOut FGHT Tokens are currently selling at 60.06 FGHT per 1 USDTand interested investors are encouraged to act quickly to secure their tokens, the pre-sale having already raised more than 2.8 million dollars in just a few days.
Dash 2 Trade (D2T) – Presale enters its final phase
Dash 2 Trade is an up-and-coming cryptocurrency trading platform startup to invest in. With its unique features, the upcoming social trading and analytics platform intends to take the crypto trading industry by storm. Trading signals, on-chain indicators, a pre-sale token rating system, a token list alert 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 exceeding $10 million. 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 presale phase now
A new play-to-earn battle 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 simple to play crypto game. Investors can 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.
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