Famous Name Expecting More Falls In Bitcoin Announced New Low Level!

Cryptocurrency market continues to struggle with the risk of DCG reaching Genesis and Grayscale following the collapse of FTX.

Leading cryptocurrency affected by what is happening in the market bitcoin It also fell to a three-week low.

BTC It fell another 2% to $16,277 today, hitting a three-week low.

However, it recovered this decline in a short time. BTCcontinues to trade at $ 16,795 at the time of writing.

Founder of Fairlead Strategies LLC, which evaluates Bitcoin’s price movements and decline Katie Stockton In an interview with Bloomberg, he said:

“We expect a retest of the $15,600 November lows in Bitcoin in the coming weeks.

Ultimately, we expect Bitcoin to bottom lower and increase the risk of long-term support near $13,900.”

Crypto winter in 2022 was harsh. For bitcoinapproximately 75% altcoinMost of them fell by 90%.

FED’s tightening in monetary policy was also effective in the declines in BTC and altcoins.
on the other hand FEDhas clearly stated that it will continue to increase interest rates throughout 2023.

Nansen Research, a blockchain analytics firm evaluating these statements by the Fed, said:If interest rate hikes continue, we can expect further corrections in the US stock markets and the cryptocurrency market, which is strongly correlated with these markets. Our baseline scenario for 2023 is US recession and US stock sales. Cryptocurrency prices may also experience another drop in this cycle before interest rates become more affordable.” said.