Crypto Analyst Says Altcoins Could See Steeper Declines Than Bitcoin
Portfolio Pulse from Murtuza Merchant
Crypto analyst Jason Pizzino warns of potential steep declines in altcoins if Bitcoin's value drops to test $26,700 and potentially even $24,900. He suggests that such a scenario would have dire consequences on altcoins. While Ethereum is a separate concern, Pizzino highlights its struggling state amidst the current market volatility. He suggests that if Bitcoin breaches its $26,700 support, altcoins will continue to struggle and might see even steeper declines if Bitcoin hits the $25,000 mark.
October 13, 2023 | 3:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Bitcoin's potential drop to $26,700 and potentially even $24,900 could have a negative impact on its price.
The analyst's prediction of a potential drop in Bitcoin's value to $26,700 and potentially even $24,900 could lead to a decrease in its price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Ethereum is struggling amidst the current market volatility and could be negatively impacted if Bitcoin's value drops.
Ethereum is currently struggling in the volatile market and could be negatively impacted if Bitcoin's value drops, as suggested by the analyst.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80