Market Reactions to Bitcoin’s Price Drop Affect Altcoin Predictions

Crypto investors faced panic selling in several altcoins as Bitcoin (BTC) $110,867 dropped to $61,000. The potential spread of conflict has also led to declines in U.S. stock markets. What are the current predictions for XRP, CHZ, and CEEK Coin? What should crypto investors expect now?

XRP Coin Insights

After falling to $61,000, BTC rebounded to $62,000. Time is running out for XRP Coin. If the SEC does not appeal by October 7, a positive trend could commence due to excitement surrounding the lawsuit’s conclusion. While former SEC officials are optimistic about the appeal process, another loss could severely damage the institution’s reputation.

XRP Coin managed to maintain a relatively strong position at $0.59, as previously mentioned. If it closes below $0.577, a decline to the $0.55 to $0.52 range may occur. On the upside, the target remains above $0.64, with closing prices of $0.74 and $0.93 visible.

Chiliz (CHZ) Insights

Today, many cryptocurrencies, including CHZ, were classified as risky assets by Binance. This decision, stemming from changes in tokenomics, led to a price drop. The price fell to $0.061 but is currently holding onto support at $0.0585. If Bitcoin experiences a swift rebound, CHZ Coin could surpass $0.07 and return to prices above $0.10.

Closing above $0.1042 may lead to a rise towards $0.1541. CHZ Coin’s advantage lies in Socios’s dominance in the fan token market, with no significant competition and long-term agreements with teams. Therefore, it’s not difficult to expect a strong upward trend, especially as league excitement builds in the coming months.

CEEK Coin Insights

Interest in the Metaverse has dwindled, and CEEK has drawn community anger for selling land only with stablecoins instead of its token. How should CEEK Coin perform in this environment? It should still aim for new all-time low levels, like today.

If we witness a comeback reminiscent of former days, the Metaverse may regain its previous hype. Without this event, discussing a bright future for CEEK Coin becomes challenging.