The current position of the Bitcoin market is one of the least volatile in its history, according to the analysis of on-chain data. The last time volatility fell to this level was around the end of 2018. Similar to prior times, the price of cryptocurrencies decreased consistently throughout the year.
As a result, the December 26 Asian session Bitcoin price prediction remains unaltered. Similarly, Ethereum’s price of $1,220 has remained largely constant.
Despite a slight increase of 0.10% to $812.31 billion the previous day, the market worth of the main cryptocurrencies fluctuated on December 26. The total volume of the cryptocurrency market on the last day was $22.98 billion, a decrease of 34.28%. DeFi’s total 24-hour volume is approximately $1.55 billion, or 7.04% of the whole cryptocurrency market.
As of the right moment, the overall 24-hour volume of the cryptocurrency market is $91.07% of the $20.01 billion total volume of all stablecoins.
The hash rate of the Bitcoin network was restored to its prior level of 241.29 EH/s after falling 38% to 170.60 EH/s from a weekly high of 276.40 EH/s. The hashrate of the Bitcoin network has returned to normal levels after a small fall occurred days after icy weather throughout the United States put a strain on the country’s electrical system.
During the days leading up to Christmas, extreme cold killed at least 28 people throughout the country and left millions more Americans without electricity.
According to reports, Bitcoin miners in Texas contribute significantly to the nation’s hashrate. They have voluntarily scaled back their operations to restore electricity to the grid and permit inhabitants to keep using their heating systems.
The interruptions have reduced Bitcoin’s hashrate, which typically fluctuates between 225 and 300 EH/s. It fell to 170.60 EH/s on December 25. However, according to the hashrate mining calculator CoinWarz, as of December 26, the hashrate has returned to its previous level of 241.29 EH/s.
Bitcoin Cost
A bitcoin is currently worth $16,858 and has generated $12 billion in transaction volume during the previous day. With a $324 billion live market value, CoinMarketCap takes the top spot. Market dominance for Bitcoin increased from 39.96% to 40.01%.
For the most part, nothing has changed in the technological landscape of Bitcoin. The BTC/USD pair will almost certainly continue to rise toward $17,500 if it breaches $17,000. Bitcoin will find support at $16,320 if it drops below $16,500.
Bitcoin is currently being driven down by the 50-day moving average, even though the RSI and MACD are both in the area where a purchase is a good idea. Watch out for today’s $17,000 price, which is predicted to be a Bitcoin tipping point.
Ethereum Cost
The price of Ethereum is currently $1,220, and its 24-hour trading volume is $4 billion. With a live market valuation of $149 billion, Ethereum has increased by around 0.10% over the past 24 hours and is presently ranked second on CoinMarketCap.