Instead of calling for more regulation, a leading member of the U.S. Congress is looking for answers to the recent issues facing the cryptocurrency market.
Bitcoin (BTC) was trading near a recent price floor as the weekend began on a bearish note. Bitcoin is trading slightly lower on Saturday, below the 23.6% Fibonacci retracement level, with resistance at $17,250.
Bitcoin’s (BTC) price has been moving sideways since its price drop on November 9 as it faces rejection at $17K.
Bitcoin price is struggling below $18,000 against the US Dollar. BTC might extend losses if it stays below the $17,500 and $18,500 resistance levels.
After touching the daily high of $21,365, the Bitcoin price prediction is down to touch a low of $21,143; no quick recovery seems possible.
Bitcoin is trading down 2% on the day after a wider pullback in the global markets. At the time of writing, BTC has been rejected from the $21,000 level and is looking to consolidate at the $20,000 zone before starting the next leg up.
Bitcoin bulls fended off a bearish onslaught and recaptured support at $20,600, while altcoins traded flat despite big gains in the traditional market.
Bitcoin price is rising above $19,000 against the US Dollar. BTC might gain bullish momentum if there is a clear move above the $19,550 zone.
The bitcoin price could reach as high as $100,000 or more by 2025 if the popular Bitcoin Rainbow Chart model is to be believed.
The current Bitcoin price is $19,351.72, and the 24-hour trading volume is $20.35 billion. Bitcoin has fallen by 0.88% in the last 24 hours. CoinMarketCap now ranks first…