Daily Bitcoin Price Analysis: Bitcoin vs. Dollar – Is the Parity Found?

Daily Bitcoin Price Analysis, December 23, 2015.

206 Total views
32 Total shares
Daily Bitcoin Price Analysis: Bitcoin vs. Dollar – Is the Parity Found?

Throughout yesterday Bitcoin’s price was shivering between $430 and $440. Strengthening of the Dollar continues to pressure Bitcoin. Furthermore, after two weeks of Bitcoin growth from $380 to $458, we should now expect a price correction.

US GDP data released yesterday turned out to be higher than predicted, but still were lower than in the previous period (actual 2.0%, forecasted 1.9%, but previous 2.1%).

Today an important block of Statistics that should highlight the main index for personal consumption expenditures in November (forecasts 0.1% against previous 0.0%) will be published in the United States at 1:30 p.m. London time (GMT). Data on changes in the volume of orders for durable goods in November (forecast -0.6%, previous 0.3%) should also be published today. Also at 3:00 p.m. we expect the release of data on real estate sales in November (forecast 505,000, previous 495,000), and at 3:30 p.m. new data on crude oil stocks (forecast 1,433M. 4,801M the previous value). Each of these releases may have a specific effect on the Bitcoin price at the time of publication.

Today December 23, we expect a continued sideways trend in the corridor of $430 - $450. The resistance level is $450. Support levels are $425 and $420.

In the currency market, investors expect sustainable long-term parity in the currency pair EUR:USD, and it seems to be at $1.10. Probably, such a price will be the same until the end of the year. If we take into account the ratio of cryptocurrency to fiat money, there is a basic pair BTC:USD. So, is the price of BTC:USD $450 a parity before the end of the year? How long can it hold such a parity price for in 2016?

This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell Bitcoins

Are you interested in bitcoin? Find it in our cryptocurrencies ratings and learn more.


Hottest Bitcoin News Daily

For updates and exclusive offers, enter your e-mail below.