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Popular analysts anticipated Bitcoin’s price drop before it began to decline rapidly. Moreover, BTC has not yet reached its target point. Earlier, we discussed that short-term investor profitability signaled an early warning for a possible decline. Subsequently, BTC made its last move towards $69,500 and then began to decrease.
Crypto Analyst Predicts Downward Trend
The potential decline in Bitcoin’s price was first announced on October 18, just three days ago. Today, the analyst reiterated that sales could accelerate. At the time of writing, the price of BTC dropped below $67,000, but further declines may be possible. An analyst named TraderXO shared a graph to warn about these developments.
If time proves the analyst right again, we might see a new low between $65,000 and $66,000. Below this level, there could be catastrophic results for altcoins.
Price Predictions for BNB and CAT Coin
The price of BNB Coin fell below $600. An analyst named Crypto Tony took risks based on the altcoin‘s closing above $605, but this move resulted in a failure. If the decline continues, support levels may gradually be tested down to $458.
If the significant price level is reclaimed, targets will be set at $680 and $700. TraderSZ mentioned that the deepening BTC decline would inadvertently push CAT Coin prices higher.
While this expectation was not unreasonable due to the breakdown of the downward trend, the decline in BTC price could disrupt this structure and lead to a pullback at the support point.
We will experience a calm week on the macro front. The approaching elections are significant, and volatility in cryptocurrencies may increase further.
$84,168 price drops below $67,000 as analysts predict further decline.
