Bitcoin (BTC) continued its losses throughout 2022. However, Dogecoin (DOGE) suffered less from the FTX collapse than other altcoin projects. So how will these two major cryptocurrencies perform in the coming period? Here are the analyst views and charts…
Bitcoin (BTC)
Bitcoin regained the critical $18,000 position. However, experts said that small gains could be a factor in its possible rally. However, Bitcoin failed to drop its position below $17,000. Machine learning-based algorithms at PricePredictions show that the moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), among others, will prolong Bitcoin’s bearish sentiments until January 1, 2023. he predicted.
According to estimates, Bitcoin will be traded at $ 16,722 on the first day of 2023. After the price correction, the summary of Bitcoin one-day technical analysis showed the decline. Analysis suggests ‘sell’ at 16, while moving averages point to strong selling at 13. Cryptocurrency analyst Jim Wycoff pointed out the ongoing correction. He also noted that Bitcoin bulls have managed to maintain a short-term technical advantage. The analyst also said:
Bitcoin-US dollar prices are lower in early US trading on Friday, with a routine downside correction late this week after hitting a five-week high on Wednesday. Prices are still in an uptrend on the daily chart. Bulls still generally have slight short-term technical advantage
Dogecoin (DOGE)
Machine learning algorithms on crypto tracking platform PricePredictions predicted that Dogecoin would trade at $0.079835 on January 1, 2023. Taking into account technical indicators such as moving averages (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB) and others, the platform pointed to a 3.49% drop from Dogecoin price. In particular, sentiment expressed in 1-day indicators on TradingView is also largely negative. Oscillators pointed to ‘neutral’ at 8 and moving averages to ‘strong sell’ at 12. Summary is currently in the ‘sell’ zone at 14.
The bearish estimates came after around $1 million in whale trades at a price level of $0.087. On the other hand, the crypto community on CoinMarketCap announced that at the beginning of the year, DOGE was bullish on its price. The collective votes of its members showed that the price of Dogecoin on December 31, 2022 will be at the level of $ 0.098. With a market cap of $10.98 billion, Dogecoin is the eighth largest cryptocurrency among the top 100 cryptocurrencies. As we reported as Kriptokoin.com, Cardano was previously the 8th cryptocurrency.
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