Bitcoin, Ethereum, Dogecoin Extend Losses As Market Remains Pessimistic: Analyst Forecasts King Crypto's Plunge Before A Rise To $98,000 By October
Portfolio Pulse from Aniket Verma
Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, extended their losses amid pessimistic market projections. Bitcoin fell to $65,701.78, Ethereum to $3,470.89, and Dogecoin to $0.127. Analyst Timothy Peterson predicts Bitcoin may drop to $52,000 before rising to $98,000 by October.
June 18, 2024 | 1:57 am
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NEGATIVE IMPACT
Bitcoin's price has dropped to $65,701.78, with analysts predicting a further decline to $52,000 before a potential rise to $98,000 by October.
Bitcoin's price decline and the prediction of a further drop to $52,000 suggest a bearish short-term outlook. However, the potential for a significant rise to $98,000 by October provides a mixed long-term perspective.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's price has dropped to $0.127, reflecting the broader market's pessimistic outlook on cryptocurrencies.
Dogecoin's price decline is part of the broader negative trend in the cryptocurrency market, suggesting a bearish short-term outlook.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum's price has fallen to $3,470.89, impacted by the broader cryptocurrency market decline and the delay in spot ETF approvals.
Ethereum's price decline is influenced by the overall negative sentiment in the cryptocurrency market and the delay in spot ETF approvals, indicating a bearish short-term outlook.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80