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Knowing the current slump, the analyst shared his goal for Bitcoin and 3 Altcoins! ›CoinTurk

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A famous analyst who accurately predicted the recent market decline shared new price targets for Bitcoin (BTC) and 3 altcoins.

The analyst updates the ADA, SOL and ETH forecasts

The analyst, known as the “Boss” in the cryptocurrency market, warned in March that several cryptocurrencies would drop by 50%. The analyst, who was right in his predictions, has 423,200 followers on Twitter with Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and wither (SOL) evaluated. According to the analyst, BTC: Could drop between $ 15,800 and $ 16,200. ETH, on the other hand, could drop to $ 650- $ 750 levels. Analyst, who says ADA will lose momentum towards $ 0.29, $ 0.32 levels, predicts SOL could plummet to levels from $ 18.00 to $ 20.00.

Head previously slated for Bitcoin and Ethereum on June 17. The analyst warned that the decline could intensify after BTC lost the critical support level at $ 20,000. The analyst painted a gloomy picture after ETH lost support at $ 1,000. Chief said on June 27 that Ethereum will maintain the new support level in the $ 700- $ 800 range. While Bitcoin is showing no signs of recovery, there are many reasons why the price could drop further in the near term, according to experts. . The Ethereum investor is waiting for the “Merge” update. Thanks to this update, described as a milestone, more investors are expected to enter the ecosystem. ETH is still at the forefront of the NFT industry. As Cardano counts the days for the Vasil Hard Fork, hopes remain that ADA can reach new heights in the long run.

Macro factors and failed companies!

Fed Chairman Jerome Powell reiterated the Fed’s commitment to raise interest rates to reduce inflation. In his speech at the ECB meeting, Powell said he was more concerned about the risks posed by inflation than about the possibility of high interest rates pushing the US economy into recession. According to Reuters, Powell PoweredHe said interest rates need to be raised quickly. Rate hikes are not expected to lose momentum until next year. Central Banks Around the World Raise Interest Rates Amid Rising Inflation Spain earlier this week broke a 37-year record with inflation of 10%. India and China are at risk of economic contraction.

Such concerns bitcoin It increases the sales pressure which already has a paralyzing effect on it. BTC has been trading similarly to risky tech stocks in recent months, losing around 58% this year. Crises like Three Arrows Capital, Celsius and Earth were other factors that wreaked havoc in the market. Bitcoin’s downtrend over the past seven months combined with the collapse of Terra LUNA and UST last month, $ 40 billion was vaporized from the market overnight. Experts warn that the decline in the cryptocurrency market could deepen, as many other decentralized finance projects have also suffered heavy losses in recent months.

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