On December 21, the price of Bitcoin remained relatively stable near $16,750. BTC/USD began trading at $ 16,925 on December 21. It is currently trading at $ 16,857, up 0.19% in the last 24 hours. BTC/USD has ranged from a high of $16,934 to a low of $16,794. Furthermore, its value has fallen by approximately 5.2% in the last week.
Bitcoin Miner Core Scientific Files for Bankruptcy
Core Scientific is one of the largest publicly traded cryptocurrency mining companies in the United States. Core Scientific, according to reports, has filed for Chapter 11 bankruptcy protection in Texas due to declining revenue and Bitcoin prices. Some of the holders of the miner’s convertible notes are expected to support a restructuring plan.
Due to a prolonged bear market, Core Scientific was forced to sell 9,618 BTC in April in order to continue operations. The crypto winter continues to have a negative impact on the business. As a result, the company filed for Chapter 11 bankruptcy in the Southern District of Texas.
The miner’s projected liabilities range from $1 billion to $10 billion, according to the filing. It has between 1,000 and 5,000 creditors, with the largest unsecured claim held by investment bank B. Riley.
According to reports, Core Scientific has no plans to liquidate and will continue to operate its mining operations. Following B. Riley’s assistance, the company’s stock briefly increased by about 200%, but has since been steadily declining.
Several cryptocurrency companies have declared bankruptcy this year. Many well-known brands, ranging from blockchain development firms to cryptocurrency lenders and large exchanges, failed the 2022 slippery slope test. Core Scientific, the world’s largest Bitcoin mining company, is currently in decline. It could have a negative impact on the cryptocurrency market and the BTC/USD exchange rate.
Bitmain Achieved Quickest Sellout
Bitmain is the world’s largest manufacturer of ASIC bitcoin mining rigs. The company has a history of selling out mining rigs, such as the Bitmain S19 Antminers, which sold out in under 24 hours. However, it has now sold out in record time. The Antminer HNS HS3 mining device has sold out faster than any other in the company’s history.
Bitmain announced on December 21 that the $2,092 Antminer HNS HS3 sold out in less than 27 seconds. The hash rate of the Bitmain HNS HS3 Antminer is 9 TH/s (terahashes per second) and the power rating is 2,079 watts. It yields an energy rating of 231 joules per terahash.
Despite this year’s declining profitability, the rapid sale of Bitmain’s new Antminer shows that there is still interest in Bitcoin mining. As a result, we can expect the price of BTC/USD to rise due to the high level of interest among miners and investors.
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. After a dip to the $16,300 level, Bitcoin’s price has rebounded to the $16,700 trading area. For now, the immediate resistance level for Bitcoin is above $16,800, and any closing prices below this level may suggest a bearish trend.
Bitcoin’s immediate support is at $16,250 or $16,100; a bearish breakthrough of this level might expose BTC to $15,650.
According to the MACD and RSI indicators, there is currently a mixed bias in the market. The RSI is indicating that the market is oversold, while the MACD indicates that there may be upward momentum. These conflicting signals may make it difficult to predict the direction of the market trend.
Finally, the closure of candles below the 50-day simple moving average suggests that the downturn may continue.
Altcoins Offering Quicker Returns
Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.18 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
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Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hope to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $10.26 million. The pre-sale dashboard will be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.
Visit Dash 2 Trade here
Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.51 million, with a crypto whale scooping up $97.5K in one purchase earlier this month. The presale is in the final stage, with only 19% of the tokens left.
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