Bitcoin Price Threatens $19.6K As Ray Dalio Predicts 30% Stock Crash
The aftermath of the Ethereum merger gives no respite to crypto bulls, who face continued market pressure as stocks also tend to fall.
Market Update
Bitcoin (BTC) attempted to breach local lows on September 16 as the latest inter-crypto downtrend intensified.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,600 at the time of writing, with support from buyers just avoiding further decline.
The level had remained in place as an intraday floor at the end of the Ethereum merger, only to trigger a sell-off, which took Ether (ETH)/BTC to three-week lows.
ETH/BTC 1-Day Candle Chart ( Binance ). Source: TradingViewAmid the gloom, traders and analysts have been reluctant to reassess their market outlook.
"I'm confident with the scenario of a quick pump to 23k on BTC and 1800 on ETH and a big dump from there," Crypto's Il Capo wrote, reiterating a long held theory:
The aftermath of the Ethereum merger gives no respite to crypto bulls, who face continued market pressure as stocks also tend to fall.
Market Update
Bitcoin (BTC) attempted to breach local lows on September 16 as the latest inter-crypto downtrend intensified.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,600 at the time of writing, with support from buyers just avoiding further decline.
The level had remained in place as an intraday floor at the end of the Ethereum merger, only to trigger a sell-off, which took Ether (ETH)/BTC to three-week lows.
ETH/BTC 1-Day Candle Chart ( Binance ). Source: TradingViewAmid the gloom, traders and analysts have been reluctant to reassess their market outlook.
"I'm confident with the scenario of a quick pump to 23k on BTC and 1800 on ETH and a big dump from there," Crypto's Il Capo wrote, reiterating a long held theory:
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