Interest rate hikes in the US, economic uncertainty, inflation, etc. Adding FTX’s collapse to macroeconomic problems cryptocurrency triggered uncertainty in the world. Although the small-scale rally that started with Bitcoin recently raised hopes, analysts remain negative. On the other hand, some analysts stated that the bottom price has come a lot.
bitcoin The price continues to be under pressure due to the risks of capitulation by miners. Ethereum, on the other hand, targeted the $1500 level while trying to stay stable.
FED Chairman Jerome Powell’s statement that we will reduce interest rates from December triggered a small-scale rally. Bitcoin rallied to $17,378 while Ethereum rallied as high as $1302. However, these levels did not hold for long and could not prevent a decline.
Koinfinans.com As we have reported, according to the prediction of Analyst Michael van de Poppe, Bitcoin price has the power to continue its rise. If the move fails to meet any hurdles, it could rally as high as $18,300. However, before this rise, the $16,600 level needs to be subject to a ‘retest’. The analyst, pointing to the bottom levels in the price; stated that the bottom price may have been reached. Therefore, there may not be much of an obstacle to the upward movement.
According to analyst Ethereum It has as much bullish power as Bitcoin. The analyst noted that after the $1150 low, Ethereum price gained strength. The analyst believes that the $1225 level will be surpassed. He noted that $1350 and $1550 levels are possible if the upbeat outlook persists.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.