As 2022 draws to a close, SHIB and Bitcoin prices are well below their November highs. The market will now have one more chance against the Fed, which says it will gradually lower interest rates ahead of the new year.
At what levels can Shiba Inu (SHIB) close 2022?
In particular, the Shiba Inu (SHIB) manages to stay profitable year over year despite strong sales in 2022. According to the forecasts compiled by CoinCodex.com from technical indicators, SHIB continues its downward trend towards the end of the year. The forecasting platform expects Shiba to trade at $0.0000090 on December 25. This means current levels will drop slightly. SHIB is currently trading one step above this zone at $0.000009191.
CoinMarketCap’s community survey, on the other hand, revealed a more positive picture for SHIB. In the survey, which was attended by 3,130 people, the price that SHIB would reach by December 31 was $0.000011. This represents a 19% gain from current levels.
Bitcoin price predictions for Christmas day 2022
As for Bitcoin, the leading crypto is currently struggling to stay above $17,000 after peaking in November 2021. According to the technical forecasts of CoinCodex.com, the price of Bitcoin will not be able to start the new year on the rise as it will be trading at $12,117 on December 25.
By the way, if we look at its prices on previous Christmas days, Bitcoin has always managed to rise 2x from year to year. At $7,192 on December 25, 2019, it registered an increase of 83.85% compared to 2018. Another spike followed, with Bitcoin trading 243.49% higher on the annual chart recorded on December 25, 2020.
#Bitcoin Price on Christmas Day:
2019: $7,192
2020: $24,704
2021: $50,720🎄🚀
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) December 25, 2021
As with Shiba, most results from CoinMarketCap were optimistic within Bitcoin. The survey, in which 18,101 people participated, revealed a price prediction of $20,086 for Bitcoin by December 31, 2022. This means roughly 25% gain from current levels.
cryptocoin.com As you follow, Bitcoin is currently about to close its 12th-week candle in red. Some analysts suggest that a possible green candle will signal the end of the bear market.
Analysts lower the bar on price predictions
It is worth noting that as we approach the new year, the market situation shows a downward trend compared to 2021. Last year, the crypto market was recording one of the biggest bull runs in history. SHIB was climbing historic heights, emerging as one of the top earners. It also operates in an environment of a series of high-profile bankruptcies and skyrocketing inflation. For example, SHIB was hit by the Terra (LUNA) ecosystem crash and the FTX crypto exchange crash.
Amid market conditions, SHIB has yet to take advantage of the small recent gains. Only after Elon Musk bought Twitter did he have the opportunity to rally with Dogecoin. Along with the acquisition, there was speculation that Musk, a SHIB supporter, might include the token on the social media platform.
