Bitcoin
BTC$29 191.52

-2.06%

Ethereum
ETH$1 954.39

-4.11%

Tether
USDT$0.998880

0%

USD Coin
USDC$0.999973

-0.01%

Binance Coin
BNB$295.49

-1.54%

XRP
XRP$0.409560

-4.29%

Bitcoin has further to fall before BTC attacks $70K


10 Nov 2021

#Bitcoin

Bitcoin and altcoins see retracement amid a short-term target of April’s all-time highs to act as support for BTC/USD. Bitcoin (BTC) remains bullish but has “one more leg down” to complete before a resurgence, one trader argues. In an analysis on Nov. 10, popular Twitter account Crypto Ed said that the pullback from this week’s all-time highs above $68,500 was turning out to be deeper than anticipated.

Target $65,000 for Bitcoin

“Going a bit deeper as I was expecting yesterday. Looks like it will do 1 more leg down to complete that ABC,” he said alongside a forecast price trajectory chart. “Lines up with 2nd chart: taking out those lows and retest support. When bounce, going for 70k.”

BTC/USD could thus fall to as low as $65,000 in the short term, marking retention of April’s old highs as support.  Others framed Monday’s record as a record slump for the United States dollar against Bitcoin, among them longtime trader Peter Brandt.

“$1 when I was born is worth 8 cents today. $1 today will likely to be worthless when my grand kids are my age,” part of a Twitter post read Wednesday.

BTC/USD circled $66,800 at the time of writing, data from Cointelegraph Markets Pro and TradingView showed, having bounced at $66,250 hours previously.

Consolidation takes hold of major cryptocurrencies

Altcoins, meanwhile, copied Bitcoin in its modest comedown, with Ether (ETH) also correcting from all-time highs. None of the top 10 cryptocurrencies by market capitalization showed positive performance over the past 24 hours.

The rout seemed to be fuelled by Tesla stock, which experienced a sudden 12% sell-off shortly after the start of trading Tuesday.

The destination of CEO Elon Musk’s 10% stock sale worth $23 billion also remained a topic of debate amid hopes that Bitcoin would see a fresh commitment from the world’s richest man.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60.8% 82 $29 191.52 -2.06% 2.70% $555 914 015 832 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64% 82 $1 954.39 -4.11% -1.82% $236 158 317 873 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.998880 0% 0.42% $74 130 049 611 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $0.999973 -0.01% -0.03% $52 352 625 225 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 63.2% 83 $295.49 -1.54% 15.82% $48 246 384 325 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 68% 71 $0.409560 -4.29% 6.64% $19 799 416 736 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $1.001666 0.20% -0.19% $18 443 180 310 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 64% 77 $0.518507 -7.30% 14.16% $17 500 944 869 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 58.4% 84 $50.68 -8.06% 10.69% $17 098 227 484 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 61.2% 87 $0.084476 -4.75% 5.40% $11 207 554 336 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 62.8% 78 $9.71 -7.67% 16.86% $9 589 547 375 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 59.6% 82 $29 143.47 -2.27% 2.60% $8 158 800 980 WBTC 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 82 $29.81 -10.49% 2.50% $8 022 029 630 AVAX 7 days price change
14 TRON (TRX) TRX TRON predictions 73.6% 55 $0.071895 0.68% -3.97% $7 014 123 058 TRX 7 days price change
15 Dai (DAI) DAI Dai predictions 95.2% 1 $1.000661 0.07% 0.23% $6 504 642 637 DAI 7 days price change

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