Cryptocurrency markets continue to fluctuate as we are approaching an important week. The Fed will announce its decision after days. We cannot say that this is the most exciting meeting because interest rates are expected to remain unchanged in this meeting with a probability of nearly 99% (according to FedWatch data). So, what are the cryptocurrency price predictions of experts?
Top Cryptocurrency Analysts
We can use the term “potential turning point” because the interest ceiling may be declared in this meeting. If the Fed does not want to keep interest rates at the ceiling until the middle of next year, it will have to announce its interest decision at the meeting on Wednesday. If it fails to do so, the deadline seems to be November 1st. If there is further delay, this will result in very bad outcomes for risk markets, including cryptocurrencies, as the Fed will go beyond excessive tightening.
So, what are the predictions of cryptocurrency experts for the markets?
Credible Crypto’s Bitcoin Analysis
The expert, who shared his latest market evaluation on his X account (formerly known as Twitter), mentioned the battle at $26,500 with satisfaction. The expert, stating that buyers in this region are defending the critical zone strongly, wrote the following;
“There are some seller absorptions here, and this level is currently being defended. I will be looking for more closes above $26,600.”
Skew’s Cryptocurrency Analysis
Another expert who examined the markets was Skew. The expert, who stated that short-term traders responded to price jumps with selling, is not yet convinced about the recent price recovery. The expert, who previously warned about the risk of a drop to the $23,500 range, missed the target. Crypto Tony, on the other hand, expects a new rally from the $26,100 region.
Crypto Santa
Beyond the weekly close, cryptocurrency market participants are focused on the upcoming interest rate decision next week. The cryptocurrency analyst known as Crypto Santa predicted that the price of Bitcoin (BTC) will move between $25,000 and $27,000 during the next week.
For now, the price remains around $26,500, and according to the consensus of different experts, it can reach $27,500 and $28,300 levels with closes above $26,800. Investors are happy for now as the Fed did not bring the expected negativity. However, they are not sure if this is a trap or not.
