COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Bitcoin Faces Decline as Market Volatility Rises
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Bitcoin (BTC) > Bitcoin Faces Decline as Market Volatility Rises
Bitcoin (BTC)

Bitcoin Faces Decline as Market Volatility Rises

In Brief

  • Bitcoin drops below $58,000 amidst rising market volatility.

  • Peter Schiff warns of a potential Bitcoin crash to $20,000.

  • Political chaos and Fed rate cut discussions heighten investor caution.

Fatih Uçar
Fatih Uçar 8 months ago
Share
SHARE

Bitcoin (BTC) $103,745 has fallen below $58,000, raising concerns of a deeper correction in the cryptocurrency market. In the past 24 hours, the leading cryptocurrency had surpassed the $60,300 level, providing investors with hope for a recovery. However, increasing market volatility has also amplified worries regarding the potential impact of this week’s Federal Reserve interest rate cut.

Contents
Peter Schiff Predicts a $20,000 BitcoinFed Interest Rate Cut and BTC

Peter Schiff Predicts a $20,000 Bitcoin

Bitcoin critic Peter Schiff issued another warning about the future of the largest cryptocurrency by market cap amid ongoing market uncertainty. In a recent post on social media, Schiff pointed to a possible Bitcoin crash, suggesting that the cryptocurrency is on the brink of a significant decline. He likened the current price movement to a “triple top” formation, typically signaling a downward reversal.

Peter Schiff: “The triple top formation in Bitcoin charts could herald a downturn.”

Schiff indicated that a drop to around $42,000 might be imminent, stressing that this level may not hold for long. He warned that Bitcoin could plunge further, potentially reaching between $15,000 and $20,000. Known for his long-standing criticism of cryptocurrencies, Schiff argues that Bitcoin’s value is inflated and unsustainable, sharing similar catastrophic predictions for years.

Fed Interest Rate Cut and BTC

The already volatile cryptocurrency markets are negatively impacted by political chaos in the U.S. A recent assassination attempt on Donald Trump has created shockwaves, raising concerns in the political arena. The repercussions of these political events may resonate further in the headlines.

Consequently, investors are adopting a cautious approach, preferring to stay on the sidelines during this turbulence. The unpredictable nature of such events adds another layer of risk to financial markets.

On the other hand, discussions about a potential 50 basis point interest rate cut by the Federal Reserve are unsettling investors. This week’s FOMC meeting could be pivotal for BTC and the broader crypto market. A significant rate cut might provide relief, while the opposite could trigger a larger sell-off. Rapid rate cuts could also risk instilling fears of a Fed-induced recession, putting pressure on cryptocurrencies in either scenario.

As of the writing, BTC is trading at $57,600, down over 4%, with trading volume increasing by 130% to $30.8 billion. Additionally, open positions in futures have declined by 4% to $30.7 billion, confirming investor concerns.

Recent analyses suggest that BTC could continue its decline, potentially dropping to $54,201 in the near term. Some analysts worry that sales could persist even below this level, reaching down to $50,000.

These developments necessitate caution among investors. Given the uncertainty and volatility in the markets, careful monitoring of market trends is essential when making investment decisions.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Méliuz Boosts Shareholder Value with Bold Bitcoin Purchase

Bitcoin Surges to Power Past Gold with Institutional Boost

Bitcoin Hits $1 Million: A Bold Prediction Ignites Intrigue

Ukraine Embraces Bitcoin as a Strategic National Reserve Asset

Twenty One Capital Bu Yatırım Hamlesiyle Dikkatleri Üzerine Çekti!

Fatih Uçar 17 September, 2024 - 1:06 am 17 September, 2024 - 1:06 am
Share This Article
Facebook Twitter
Share
Previous Article Investors Anticipate Fed’s Interest Rate Decision as Markets React
Next Article Circle CEO Jeremy Allaire Highlights U.S. Leadership in Crypto Innovation
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

HYPE Coin Rockets Up with Surging Volume and Interest
Altcoin News
Altcoin Season Surges with Critical Signals Aligning for a Bull Run
Altcoin News
The GENIUS Act Defines New Limits for Stablecoin and Gives US Digital Finance a Boost
Cryptocurrency News
Méliuz Boosts Shareholder Value with Bold Bitcoin Purchase
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?