Bitcoin
BTC$44 194.78

1.91%

Ethereum
ETH$2 370.51

-0.24%

Tether
USDT$1.000302

0.02%

Binance Coin
BNB$244.77

4.20%

XRP
XRP$0.687779

6.90%

Solana
SOL$76.42

5.66%

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.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80% 31 $44 194.78 1.91% 13.95% $864 662 582 104 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 80.4% 36 $2 370.51 -0.24% 12.72% $284 977 242 137 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000302 0.02% 0% $90 362 894 198 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 86% 17 $244.77 4.20% 6.71% $37 130 937 126 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 84.8% 28 $0.687779 6.90% 11.78% $37 110 813 461 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 78.8% 38 $76.42 5.66% 23.68% $32 550 547 517 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000017 0% 0.01% $24 500 256 641 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 76.8% 38 $0.592594 23.64% 53.34% $20 929 830 721 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 70.8% 53 $0.103093 6.13% 22.44% $14 655 575 281 DOGE 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 76% 50 $32.21 18.70% 46.79% $11 780 639 091 AVAX 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 TRON (TRX) TRX TRON predictions 94% 7 $0.108349 2.94% 4.72% $9 585 997 392 TRX 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92.4% 7 $0.108050 3.07% 4.47% $9 559 528 631 WTRX 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 76% 38 $17.16 6.87% 10.20% $9 554 991 817 LINK 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 80% 38 $7.45 18.63% 35.64% $9 346 749 094 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2023 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.