• 2022 is set to be the second worst year for Bitcoin since 2011, with a year-to-date (YTD) performance of -65%.
• According to Arcane Research, the crypto winter was fueled by tightening macroeconomic conditions and crypto-specific leverage, as well as poor risk management.
• Arcane Research predicts that Bitcoin will trade in a mostly flat range in 2023, but finish the year with a higher price than it started.

The year 2022 is shaping up to be one of the worst years for Bitcoin since its inception in 2011, with a year-to-date (YTD) performance of -65%. This performance is only topped by 2018, when the price of Bitcoin lost -73% in one year. According to a year-end report from Arcane Research, physical gold (-1% YTD) has significantly outperformed digital gold, Bitcoin, in a period of high inflation. This has led the analytics firm to conclude that the ‘digital gold’ narrative was premature.

The report further explains that the ‘crypto winter’ of 2022 was fueled by tightening macroeconomic conditions and crypto-specific leverage, as well as poor risk management by core market participants. As a result, Bitcoin followed the US equity markets closely, with only two distinct events in 2022 which led to significant underperformance – June (3AC, Celsius etc.) and November (FTX).

Looking ahead to 2023, Arcane Research believes that contagion effects will “probably” continue in the early stages of the year, however they predict that the majority of the year will be less frantic and more uneventful compared to the last three years. As such, they anticipate that Bitcoin will trade in a mostly flat range in 2023, but will end the year with a higher price than it did at the start.

• Algorand price has been on a downward trend for the last few months, losing 1.8% in the past 24 hours.
• The coin has lost 4.7% in the past week and has failed to break the $0.28 price floor.
• The market capitalization of Algorand has seen a considerable decline, indicating that sellers have taken control of the market.

Algorand (ALGO) has been on a downward trend for the last few months, with its price dropping 1.8% in the past 24 hours. Algorand has lost 4.7% in the past week and has failed to break the $0.28 price floor. This price floor acted as a crucial level for the altcoin, but the consistent lateral trading has pushed the bulls out of the market. The technical outlook has sided with the bears, with no clear indication of the price turning around in the coming trading sessions. The market capitalization of Algorand has seen a considerable decline, indicating that sellers have taken control of the market.

Ever since ALGO lost the $0.28 price level, the coin has been unable to stop its downtrend. The coin had been consolidating on its chart over the last few weeks, but the lateral trading has pushed the buyers out of the market. The coin has also remained unaffected by positive changes in major market movers‘ prices. Since the altcoin was rangebound for a while, buyers lost interest and rushed to sell the altcoin. Algorand has lost over 30% in the month of December itself.

At the time of writing, the ALGO price is 96% below its all-time high from 2021. The coin was priced at $0.166 at press time. The immediate resistance for the altcoin was at $0.172. The coin has attempted to test the overhead price ceiling, but the bearish strength has taken over the market. Since demand for Algorand has fallen substantially, the altcoin can fall to $0.163 before the bulls can make a comeback.

The coin is currently trading below its 50-day moving average, and the MACD indicator shows that the coin is in a bearish territory. The RSI indicator has also dipped below 40, which is a bearish sign. The coin needs to break the $0.17 price level soon to turn the tide in its favor.

Overall, the coin has not been able to make a substantial recovery in the last few months. A break above the $0.17 price level is essential for the bulls to take control of the market. Until then, the coin is likely to remain in a bearish territory.

• Bitcoin price has finally shown signs of life, although to the downside, which may be the dominant direction in 2023.
• The cryptocurrency is currently trading at $16,600 with a 1% loss in the last 24 hours.
• Historically, the first month of the year is among the worst performers for Bitcoin, with the cryptocurrency trading in the red for 60% of its monthly performance during January.

The Bitcoin price has finally shown signs of activity, although the direction appears to be towards the downside. After being stuck at a single level during the holidays, the cryptocurrency is now trading at $16,600 with a 1% loss in the last 24 hours. Across the cryptocurrency market, red is the predominant colour, with many assets following BTC into the downside.

Despite this bearish momentum, the bulls may have difficulty pushing the price beyond local resistance at around $17,500 and $19,200, which used to serve as critical support. Historically, the first month of the year has been one of the worst performers for Bitcoin. Since 2013, the cryptocurrency has traded in the red for 60% of its monthly performance during January.

This period is also known to see a spike in volatility, which often favours the selling side. This is due to the decline in trading volume due to the holiday season, which is poised to change in early January when market participants return to active trading.

With these factors in mind, it’s important for traders to be aware of the potential for sudden changes in the Bitcoin price. By taking precautions such as having a risk management plan in place, traders can protect themselves from the volatility that often comes along with the first month of the year.

• Bitcoin price is still trading in a range below the $17,000 resistance.
• There was a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC/USD pair.
• The pair could decline further if there is a clear move below the $16,550 support zone.

The cryptocurrency market has been in an exciting state as of late, with Bitcoin price continuing to remain in a range below the $17,000 resistance. Currently, the price is trading below $16,800 and the 100 hourly simple moving average. Recently, there was a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC/USD pair. If the current trend continues, the pair could decline further if there is a clear move below the $16,550 support zone.

Bitcoin made another attempt to clear the $17,000 resistance zone but failed to gain enough momentum to make a decisive move. As a result, the price has been trading in a range below the resistance level. However, the bulls managed to defend the $16,800 support and the 100 hourly simple moving average, preventing any major decline.

Unfortunately, the bears were able to take control and drive the price below the $16,840 support level. There was also a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC/USD pair. As a result, the pair tested the key $16,550 support zone. A low is formed near $16,561 and the price is now consolidating losses. It tested the 23.6% Fib retracement level of the downward move from the $16,962 swing high to $16,561 low.

On the upside, an immediate resistance is near the $16,720 zone. The first major resistance is near the $16,800 zone and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the downward move from the $16,962 swing high to $16,561 low. The main barrier is still near the $17,000 zone. If the bulls are able to break the $17,000 barrier, the price could start a strong rally. On the other hand, a clear break below the $16,550 support zone could start a bearish wave in Bitcoin. If so, the price could decline towards the $16,000 level in the near term.

• Dogecoin (DOGE) is currently trading at $0.074 with a 1% loss in the last 24 hours.
• A report from DollarGeek suggests that cryptocurrencies remain some of the most searched digital financial assets of 2022 with over 7 million monthly searches in the United States and over 40 million global searches.
• Bitcoin remains the most popular cryptocurrency with an estimated 4,500,000 monthly searches in the U.S. and 28,400,000 monthly searches globally.

The crypto market is currently experiencing a period of stagnation due to the holiday season, leading to sideways activity for digital assets like Dogecoin (DOGE). As of this writing, DOGE is trading at $0.074 with a 1% loss in the last 24 hours. In the previous seven days, DOGE has seen some small profits with a 5% gain. Other cryptocurrencies in the top ten by market cap are similarly performing.

Despite the persistent downside trend in its prices and unfavorable macroeconomic conditions, digital assets remain popular. A report from DollarGeek suggests that cryptocurrencies remain some of the most searched digital financial assets of 2022 with over 7 million monthly searches in the United States and over 40 million global searches. Bitcoin remains the most popular cryptocurrency with an estimated 4,500,000 monthly searches in the U.S. and 28,400,000 monthly searches globally. The benchmark crypto’s decentralized nature, combined with the declining trust in a central authority, has made it a popular alternative to traditional financial assets.

Other cryptocurrencies have also been gaining popularity, such as Shiba Inu and Chiliz. Shiba Inu is a decentralized, open source cryptocurrency that’s built on Ethereum’s blockchain. It’s been gaining traction in the market due to its low transaction fees and high speed of transaction. Similarly, Chiliz is a digital asset designed to be used as a medium of exchange in the sports and entertainment industry. It’s been gaining traction due to its use of blockchain technology to facilitate the exchange of digital tokens.

Overall, the crypto market is continuing to experience a period of stagnation due to the holiday season. Despite the bearish trend in prices, the sector is still popular due to the decentralized nature of cryptocurrencies, as well as the declining trust in a central authority. As such, Bitcoin, Shiba Inu and Chiliz are some of the most popular cryptocurrencies as of 2022.

• Japan’s Financial Services Agency (FSA) is set to lift the ban on foreign-issued stablecoins in 2023.
• Japan’s new stablecoin act aims to regulate all virtual currencies and limit their issuance to banks and fund transfer companies, which can present collateral assets.
• All local entities wanting to engage in the management and distribution of stablecoins have been mandated to submit information to the regulator’s feedback assessments exercise.

The Japanese Financial Services Agency (FSA) has announced the upcoming lifting of the ban on foreign-issued stablecoins in 2023. The move is part of the new stablecoin act, which sets out to regulate all virtual currencies and limit their issuance to banks and fund transfer companies, who can present collateral assets.

The FSA plans to put in place a set of regulations that will give domestic entities the power to handle foreign stablecoin transactions, as well as establish guidelines for asset management and anti-money laundering measures. According to the agency, the remittance limit per transaction will be set at $7,500 (1 million yen).

In order to ensure compliance with the new regulations, all local entities engaging in the management and distribution of stablecoins have been mandated to submit information about their users to the regulator’s feedback assessments exercise, which is scheduled to start after December 26.

The upcoming lifting of the ban on foreign-issued stablecoins in 2023 is expected to open up the Japanese market to a variety of new products and services. As a result, the FSA has put in place measures to ensure that the transition is orderly and secure. This includes a feedback exercise to assess how well local entities are adhering to the new regulations and a set of guidelines for asset management and anti-money laundering measures.

The FSA is confident that the lifting of the ban on foreign-issued stablecoins in 2023 will create an environment conducive to the growth of the crypto industry. With the help of the feedback assessments exercise, the FSA is sure that it can ensure that local entities are following the regulations and that the transition is orderly and secure.

• Litecoin price remained well bid above the $60 support zone against the US Dollar.
• There is a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC/USD pair.
• The price could start a decent increase if there is a clear move above the $72 resistance.

Litecoin (LTC) has been on a rollercoaster ride in the past month, with prices dropping to as low as $60.00 while attempting to recover from its losses. The cryptocurrency is currently trading above the $60 level, and there is a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC/USD pair.

The price has been trading in a range between the $60.00 and $70.00 levels for the past few days, indicating a lack of momentum. A break below the $60.00 support could push Litecoin price lower towards the $55.00 and $50.00 levels.

On the upside, an initial resistance is near the $70.00 level. The bears are likely to put up a strong fight near the $72.00 and $73.00 resistance levels. If the price fails to clear the $72.00 resistance, it could start a fresh decline.

The main support is near the $60.00 level. A successful close below the $60.00 level could open the doors for a larger decline towards the $55.00 support area. Any further losses might cause a bearish reaction towards the $50.00 support.

Looking at the chart, Litecoin price is clearly trading in a bearish zone below the $72.00 and $73.00 resistance levels. To start a strong upward move, the bulls need to gain strength above the $73.00 resistance. If the price fails to break the $73.00 resistance level, it could drop further towards the $60.00 and $55.00 support levels. On the other hand, if the bulls succeed in pushing the price above the $73.00 level, it could start a strong rally towards the $80.00 resistance area.