As the year came to its last week, the crypto markets remained flat and subdued, with hopes for better prospects in 2023.
BTC continued to remain devoid of volatility as it entered the holiday season at earlier levels. Analysts did not expect prices to show any significant movement in the next few days as crypto markets have broadly maintained their market capitalization at the same levels for the past few days. A few had predicted a Christmas rally earlier, but that did not happen as the markets carried on to trade flat.
A few experts termed the recent lack of movement in the crypto market as a positive occurrence since Bitcoin and other major altcoins did not dip to lower levels as a few critics had expected. The flat movement could be credited to uncertainty in the market and the stressed global economic scenario, with the bulls reluctant to take any step before receiving clarity. With court proceedings underway for a prominent exchange that recently went bankrupt, the crypto space expects it to lead to more regulations for the industry in 2023.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16800 on December 23, 2022, with BTC/USD down by 0.07% in the last 24 hours. BTC/USD is trading below its 20-day EMA (16,982.37), with most altcoins trading within their previous range in the last 24 hours. BTC continues to trade tightly, but analysts and experts expect it to rally further once it crosses its resistance at $17000.