Bitcoin (BTC) price At the time of writing, it is attempting a rapid return to $57,500. Will it be permanent? It is unknown, but we shared 50 minutes before the article was written that JOLTS data would produce such a result. So what do the current market predictions of 3 popular analysts indicate?
Analysts’ Comments on Cryptocurrency
The new week did not start well, and the demoralizing historical performance of September was already preparing investors for such a nightmare. Three popular analysts have shared their assessments of the markets in the last few hours. Poppe is the first in line and expects ETH prices to rise against BTC. At the time of writing, ETH is still below the $2,500 support. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“Ethereum and markets are giving back the gains from the recent rally. However, ETH is still struggling to hold on to the support level and momentum could pick up if it breaks 0.043.”
Lark Davis last month spot BTC ETF He draws attention to the negative flows and advises to stay away from the noise and not to panic.
“Don’t get caught up in the noise. Spot BTC ETFs have generally seen negative flows in the past month. This was a significant drop from March, when the BTC price was rising and ETFs were in a booming phase.
“However, you shouldn’t be overly concerned about ETF impact on markets. Data shows that ETF volumes only represent 20% of the market. There’s still a lot going on beyond ETFs.”
The last analyst, The Moon Carl, thinks that the technical formation he drew attention to, despite the last correction, will eventually trigger an upward break. The target marked on the chart and highlighted in his analysis is $4,000. Despite ETF approval for ETH BTC The irony is that while ATH has been seen, $4,000 is still being talked about.
Latest Situation in Cryptocurrencies
BTC The price is positive that it has gained roughly a thousand dollars as the expectation of a September rate cut climbs to the 50bp level. However, if we are talking about a real turnaround, we cannot be sure of it until we see a weekly close above $61,700. The fact that investors are wearing out the sell button at every attempt to rise shows that the short-term trading impulse has reached a demoralizing point.
Although most analysts are optimistic, we should not forget that September has brought new lows in crypto many times. Especially for altcoin investors, unnecessary appetite can cause you to experience annoying days.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
