At the time of writing, BTC is stalling at $98,130 and losses in altcoins have exceeded 7 percent. XRP Coin Even despite today’s ETF launch, it continues the day with a 2 percent loss. Ali Martinez is Bitcoin 
$103,128.64 He shared the level that the price will reach in 328 days. If he is right, we could see losses in altcoins exceeding 80 percent from their current levels.
How Many Dollars Will Bitcoin Fall To?
Ali Martinez compared his current cycle with previous cycles. Four-year cycle experience shows in which periods cryptocurrencies will decline or rise. We have been seeing sales accelerating for about 40 days now, as many metrics say the cryptocurrency bull market is over as of October.
Martinez is of BTC He thinks that the market bottom range of $38,000-$58,000 will be reached within 328 days. Although many bullish predictions have been made, the analyst’s bear scenario is quite surprising.
“Bitcoin“There are 328 days left for BTC to reach its market bottom between $38,000 and $50,000.”
On October 24, we shared the 1064 day prophecy shared by Martinez. Accordingly, BTC completed its ATH level in October in 1064 days, just like in previous cycles, and now it had to decline. For now, Ali Martinez seems to be right, but time will tell us whether he continues to be right as the ongoing negative atmosphere dissipates and risk appetite increases with interest rate cuts next year.
Cryptocurrencies Will Fall
We talked about this issue a lot today, but the decline in cryptocurrencies and the ongoing sales wave in technology stocks are directly linked. Expectations for interest rates changed in December and the Fed is expected to keep rates constant as the data will be delayed. Nvidia Bitcoin is currently struggling to hold $98,200 as chip stocks such as China and Broadcom take a hit. Moreover, this time the decline seems to be more permanent because stocks are not recovering and we have not seen a bounce in BTC.
The October unemployment rate will not be released, but some employment numbers will be forthcoming, a White House official said Thursday. So the Fed will make a blind decision again. Since the November data will be mostly announced after the December 10 interest rate decision, it looks like we will close the year with interest rates at this level. Let’s see if the Supreme Court announces its decision against Trump in the short term.
In short, the news flow is much more important these days and there is still the potential for the wind to reverse due to new hot developments. For this reason CryptoAppsy The free news section of the application can make it easier for you to stay up to date.
