The broader crypto markets witnessed trends upward.
BTC surged to trade over $17000, with other cryptos also registering gains. The overall market capitalization of the crypto markets remained below $1 trillion but had increased to almost $899 billion. Other tokens, such as Ether, Polkadot, Solana, and Tether, witnessed marginal gains. Experts worldwide have noted their concerns regarding centralized exchanges, advocating for more decentralized ones.
The rally is in stark contrast to the equity markets, which ended the week at a low. Some crypto experts expected Bitcoin to rise above $19500 to induce a bullish momentum for 2023. Others do not expect BTC to rise to such levels but expect it to hold on to its present support. The key lies in long-term investors, who have helped maintain the present levels of BTC. Key regulatory frameworks expected in 2023 by countries around the world are also expected to push the positive sentiments of the markets.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $17000 on December 4, 2022, with BTC/USD up by 0.54% in the last 24 hours. BTC/USD is trading above its 20-day EMA (16,890.86), with other altcoins registering a short rally, resulting in the crypto markets witnessing small gains at the beginning of the second week of December