- Economists of Goldman Sachs had raised their predictions for the Federal Reserve interest rate hikes, which could risk Bitcoin falling to $11,000.
- The US central bank would increase rates by 0.75% in September and 0.5% in November.
- BTC has a potential to reach $11,000 but the sell volume is getting smaller.
Economists of Goldman Sachs had raised their predictions for the Federal Reserve interest rate hikes, which reportedly could risk Bitcoin falling to $11,000.
According to Goldman Sachs, the US central bank would increase rates by 0.75% in September and 0.5% in November. The Federal Reserve’s rising rates could affect Bitcoin’s price trends.
A crypto analyst called Doctor Profit said that Bitcoin had entered the Bottom‘ phase, expecting targets between $18.000 and $25.000 till March 2023. But, Bitcoin’s positive correlation with NASDAQ could pose increased risks for BTC.
#Bitcoin enters the ‚Bottom‘ phase, expecting targets between $18.000 and $25.000 till March 2023. The bottom is being formed. I will keep accumulating at these prices
This is based on TA only. Please consider FEDs next decisions. 0.75 already priced in, 1bps and we see blood. pic.twitter.com/LRAgoBl6va
— Doctor Profit 🇨🇭 (@DrProfitCrypto) September 18, 2022
According to the creator of Decentrader, Filbfilb:
A lot rests on the [crypto] winter and the dynamic with how Europe deals with the winter; I expect a bad winter dynamic to result in testing the previous volume range highs of $10,000–$11,000. Dialogue between NATO and Russia seems imperative with what happens next; the sooner that happens, the higher the low for Bitcoin.
The analyst predicts that BTC’s price could dump to $11,000 but looking at the volume indicators, the sell pressure volume is not that high in the $20,000- $10,000 area. This also means that the price could reverse from this area depending on other financial factors such as the US interest rate and Europe financial news.
According to the 4-hour chart of BTC, the price is below the 200 EMA (Moving Average Exponential), which means sellers are looking to sell BTC. This also means that buyers should wait for a few confirmation candles to enter the market.
At the time of writing, Bitcoin is priced at $18,420.48, with a fall of 16.94% in seven days, while an 8.02% decrease was noticed in 24 hours.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
