We are heading towards the end of the last business day of the week and today’s inflation report is cryptocurrencies was supportive of. Investors’ appetite is weak due to concerns about the developments that will occur next week. Moreover, we see that some analysts share bearish predictions due to the possibility of increasing tensions with China and retaliation. Martinez is one of them.
Bitcoin Will Fall 70 Percent
Martinez today due to MACD signal BTC price He mentioned that it could drop by 70%. In fact, there is another reason why he did this right after the US market open today. I can summarize these items as follows:
- Next Thursday, Trump and Chinese President Xi will meet.
- If the negotiations do not yield results by November 1, China and the USA will impose mutual customs duties and tariffs. The US threatened 155% additional tariffs and export restrictions.
- On November 5, the Supreme Court will decide whether the tariffs are within Trump’s authority.
- Next Wednesday, the Fed will announce its interest rate decision, and mentioning concerns that issues such as increasing global trade tensions and Russian sanctions causing the oil price to jump may push inflation up will cause disappointment about the interest rate reduction process.
- The government shutdown will continue next week.
- BTC is struggling to maintain $110,500 as support and a close below $107,000 would be very bad for the 1.5-year uptrend.
In other words, it is extremely comfortable to predict that there will be a decline next week for at least 6 reasons. Ali Martinez also pointed out the MACD downward trend on the monthly chart, probably to experience the pleasure of being right. The analyst who shared previous examples attaches importance to this signal due to its average loss score of 70%.
Yesterday, Martinez BTC He said that the bull peak has now been determined as it reached the new ATH level 1064 days after the bear bottom, as in the last 2 cycles. If BTC pushes $150k+ this year, Martinez could become a laughing stock.
PENGU Coin Chart Commentary
Since Bitcoin 
$111,463.88 It will drop by 70%, so it’s a short selling opportunity. to Pengu Coin Let’s take a look. As uncertainty increases these days, the number of analysts expecting a decline is high, but when fear becomes dominant, many news that are supportive for the rise are forgotten. So studying the opinions of different analysts is good, but copying their strategy exactly is bad.
Sherpa in today’s review pengu He shared the chart above for . He thinks that he will perform better as we move towards the end of this quarter and mentions that he can evaluate the support points he marked on the chart.
