Bitcoin price crash after FOMC marked September low. So, is it time to buy BTC now? We examine eight analysts’ predictions for Bitcoin, ETH, SOL and LUNA…
Bitcoin, SOL, LUNA collapse: What happened?
As the FOMC was about to close its day on Wednesday, Bitcoin price dropped as low as $18,125 on Binance. The previous September low was $18,232 this Monday’s low. cryptocoin.com As we have also reported, the FED announced a 75 basis point rate hike at the FOMC meeting earlier today. Initially, the stock market and Bitcoin rally. BTC even hit an intraday high just under $20,000.
However, both SPX and Bitcoin later crashed. Short rebounded with a strong bounce to liquidate positions and eventually dropped back to new daily lows. The S&P 500 fell as low as 3,789. Many market participants predicted that if a rate of 100 basis points were to be announced, Bitcoin would crash on bad news. A common estimate was that 75 basis points were priced in. Therefore, as the expected bad news did not come, analysts thought that BTC could make a small rally.
What were the analysts’ expectations?
Crypto analyst Ted Talks Macro said that the result would be a 75 basis point increase, with the Bitcoin price rising in the short term on the FOMC day, but would be limited to a hawkish price conference later on. That’s what happened for Bitcoin – while Fed chairman Jerome Powell maintains a hawkish and “restrictive” stance for the US economy, the price of Bitcoin has failed to rise above $20,000.
Furthermore, trader Crypto Chase had predicted that the Bitcoin price would “run liquidity in both directions” before moving to its “true direction” as determined by Powell’s speech. Other crypto Twitter analysts pointed out that in the days following the FOMC meeting, real Bitcoin price action took place after the markets had time to react correctly and pick a direction.
Current price estimates
Michaël van de Poppe is cautious but optimistic as the crypto markets seem to be pricing in the worst possible outcome. He thinks we are in a good time to buy Bitcoin before 2023. The analyst uses the following statements:
Will Bitcoin go to the moon now? Will he see the apocalypse? After such an event, we cannot say right away, it takes some time. Markets are priced in the worst way. But all I’m saying is – the accumulation period until 2023.
Trader Mayne, who has 326k followers, made an accurate Bitcoin price prediction before the FOMC meeting that 75 basis points will be announced, the BTC price will go up and the pump should go out. He was right so far. According to the analyst, if this situation continues, it could break $ 17,600 in the coming days. Mayne used the following statements in her later tweet:
I think people who accumulate BTC between $10-20k and ETH between $500-1000 will look pretty smart in the next cycle.
Bearish Bitcoin predictions gain popularity: LUNA, SOL also lose momentum
BigCheds, which has 285,000 followers, published a Bitcoin price prediction of $12,000 for 2022 in March. It kept repeating this before and after the FOMC. After Bitcoin bottomed out, he made a long-term Bitcoin price prediction of $100,000. The analyst shared his 12,000-dollar argument in his tweet dated March 6, 2022, in the past months:
MacnBTC, which has 236,000 followers, also shared a $12,000 Bitcoin price target for the bottom of the bear market. Terra suggested that the LUNA would go to zero. He also tweeted a $700 Ethereum price prediction with Solana going to $17. He didn’t comment on Terra Classic (LUNC), which rose earlier this week before the FOMC meeting. The analyst shared his bottom level forecasts as follows:
Crypto Chase, which has 99k followers, shared its pre-FOMC Bitcoin price prediction of $12,000 with a meme as follows:
Altcoin Sherpa, which has 183 thousand followers, says that Bitcoin will see a downward trend in the coming days, inevitably breaking support. He predicts that it will bring liquidity below the $17.5k level. The analyst’s tweet includes the following statements:
BTC: It seems like it’s only a matter of time before this support level is broken. The next two wicks are the next fields. There is too much liquidity below the 17.5k level. Many are looking for 16,000 or less. What are you thinking? Where is the bottom?
Bull and bear scenarios for BTC, SOL, LUNA
Trading Tank has a more optimistic Bitcoin price forecast towards the election season. It predicts a medium-term rally based on the FOMC split between 100 – 125 bps for the remainder of 2022. This daily close could be on the upside as it is a near-recovery of the price level of $18,510, the daily low from September 7.
However, the macro trend is still bearish. Crypto prices have not yet dropped as much as the stock market – while some interpret this as strength, analysts like TraderKoz think the cryptocurrency has just lagged behind and has yet to catch up with stocks.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.