Analyst's BTC Prediction: Potential to Be $13,800 To $10,350

Panic and fear created in the market, leading to a sharp sell-off that brought the price of BTC down away from US$20,000 towards US$16,000.

BTC Price Prediction According to AnalystAccording to a U Today report, a veteran and prominent analyst on Twitter, Peter Brandt, sees the potential for continued declines in the prices of major cryptocurrencies.

Based on BTC market history, the price “has gotten used to” falling around 80 to 90 percent before bouncing back and rallying to print new all-time highs (ATH).

Drawing on the basis of the technical analysis, Brandt sees the potential for Bitcoin price to drop again to reach US $ 13,800, if it experiences an 80 percent decline, and reach US $ 10,350, if it experiences an 85 percent decline from the latest ATH.In addition to Brandt, analysts from JPMorgan also see the possibility of a decrease in the price of Bitcoin to US $ 13,000 due to selling sentiment in the last few days, supported by problems at FTX, which triggered a massive sell-off because investors felt very scared.

“What makes the new phase of crypto deleveraging caused by the collapse of Alameda Research and FTX even more problematic is that the number of entities with stronger balance sheets, capable of rescuing those with low capital and high leverage, [has] dwindled in the crypto ecosystem,” said lead analyst team at JPMorgan, Nikolaos Panigirtzoglou, quoted by Market Watch.Inflation Data Saves

However, the negative views of some of the analysts above seem to have been broken by crypto investors when the US inflation data was released.

The Block reports that Bitcoin and Ether (ETH) prices have risen as the US inflation data fell to 7.7 percent, lower than observer expectations.The data indicates that the Fed is unlikely to be aggressive in raising interest rates this month, so risk appetite is starting to grow, big money is starting to look to crypto again.

"Interest rate traders are now pricing in an 80 percent chance of a 50 basis point hike at the December meeting," said CME's FedWatch tool.Finbold melaporkan bahwa, berkat data inflasi yang merosot, kapitalisasi pasar Bitcoin kembali meningkat, mendapatkan tambahan US$15 milyar hanya dalam waktu 15 menit saja. Pasar aset digital mulai bersuka cita sejak Kamis malam (10/11/2022).