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Bitcoin Price Prediction Daily (09-Dec-2022) Breaking Above $17,000

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Bitcoin Price Prediction Daily (09-Dec-2022) Breaking Above $17,000

How is Bitcoin (BTC) Looking Today?

Bitcoin is currently trading around the $17,200 mark and has started to gain momentum on the lower timeframes. As highlighted in our previous analysis, Bitcoin faced strong resistance around the $17,000 mark and struggled to get above this level for the past few weeks. Right now, BTC is trading above $17,000 and has also closed multiple 4-hour candles above it. If the price manages to find strong support at $17,000, we can expect more bullishness for Bitcoin. Let’s take a quick look at Bitcoin Price Prediction Daily (09-Dec-2022) to see where the price could be headed next in the coming days.

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Analyzing the Charts

If we take a look at the latest 4-hour charts for Bitcoin, we can notice that the price has finally gotten above $17,000 after retesting it multiple times.

The resistance level we are now watching for Bitcoin in the immediate short-term is the $17,400 mark. It is a region that has pushed the price down in the past, and we can expect more resistance here in the coming hours.

Also, the next target we are expecting BTC to touch in the coming days is the $18,000 mark. The region above $18K has plenty of significance as it acted as the bottom support for BTC for most of 2022.

On the other hand, if Bitcoin fails to hold the $17,000 mark as support, the next level we will be watching is the previous support at $16,400. We could also expect a sell-off towards $15,900 in that scenario.

Conclusion: Final Verdict on Bitcoin (BTC)

Bitcoin is currently trading above the $17,000 mark and is looking bullish on the lower timeframes. The price has finally broken above a crucial resistance level and is heading towards the $18K region once again. However, the trading volume is still low, so we will not be placing any short-term trades at the moment. If the volume spikes, we will be targeting the $18,000 mark once again.

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How to Trade Bitcoin (BTC)?

To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.

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BitPay Announces Partnership With MoonPay – Bitcoin Magazine

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Bitcoin And Artificial Intelligence Frees Your Time - Bitcoin Magazine


BitPay and MoonPay, leading bitcoin and cryptocurrency payments infrastructure providers, have partnered “to provide BitPay users with significantly increased ways to buy cryptocurrency instantly, and at great rates.”

“BitPay’s unique marketplace experience also presents multiple rates for buyers, ensuring they receive the best possible price for their cryptocurrency purchases,” the press release states. “Additional benefits of the integration include fast delivery to any owned wallet address, as well as the ability for buyers to pay with their preferred method, including credit card, debit card, Apple Pay, Google Pay or a variety of local bank transfer methods.”


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Why Real Regulatory Change In Crypto Has Not Happened

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Why Real Regulatory Change In Crypto Has Not Happened



Legislators need to educate themselves on Web3 if they care about protecting consumers, Steven Eisenhauer, chief risk and compliance officer at Ramp, writes.


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South Korea to deploy cryptocurrency tracking system in 2023

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South Korea to deploy cryptocurrency tracking system in 2023


The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities.

The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.

While the system is slated to be deployed in the first half of 2023, the South Korean ministry shared plans to develop an independent tracking and analysis system in the second half of the year. A rough translation of the ministry’s statement reads:

“In response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).”

The South Korean police previously established an agreement with five local crypto exchanges to cooperate in criminal investigations and ultimately create a safe trading environment for crypto investors.

Related: South Korean prosecutors request arrest warrant for Bithumb owner: Report

The South Korean Supreme Court ruled that crypto exchange Bithumb must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017.

The finalized ruling from the supreme court ordered damages ranging from as little as $6 to around $6,400 be paid to the 132 investors involved.

“The burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service,” the court stated.


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