Will Bitcoin Price Go to $65,000 or $55,000?
The leading cryptocurrency has suffered a serious loss of value due to sales of #Bitcoin countries, interest rate announcements and many other news.
#btc US PCE is witnessing huge fluctuations and uncertainties due to inflation data and quarterly options expiry. JPMorgan, Goldman Sachs and Morgan Stanley predict PCE inflation will cool.
IMF Managing Director Kristalina Georgieva called on the Fed to keep interest rates unchanged until the end of the year. Markus Thielen There is a risk that the BTC price will fall to 55 thousand dollars. Options traders are buying BTC and open interest has increased in the last 24 hours.
Markus Thielen, CEO of crypto market research company 10xResearch, predicts that the BTC price will drop to $55 thousand. He listed 10 factors that could cause Bitcoin to drop to $55,000, including the double top pattern at $BTC price.
Other reasons that pose a risk of a major decline in the BTC price include the decline of the weekly RSI despite investors buying at the bottom, the lack of institutional buying seen in spot Bitcoin ETFs, and increasing selling pressure due to macroeconomic reasons.
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The next launch of the Spot #Ethereum✅ ETF could prevent a major decline in the #BTC☀️ price as sentiment slowly improves. Investors should look for an increase in trading volumes, but a sudden recovery to $65,000 is challenging.