Bitcoin

<p class="p1" style="text-align: justify"><strong><a href="https://en.coin-turk.com/paypal-appoints-a-10-year-bitcoin-investor-as-ceo/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a></strong> started October with a rapid rise, but the failure to overcome the $28,000 level triggered increased selling. This, along with geopolitical issues, has caused fear and concern among investors. Despite this, an analyst made an intriguing prediction for Bitcoin.</p>
<h2 class="p1" style="text-align: justify" id="us-data-causes-concern">US Data Causes Concern</h2>
<p class="p1" style="text-align: justify">According to data from <strong>TradingView</strong>, weakness in the price of <a href="https://coin-turk.com/2-unlu-analiz-firmasi-bitcoinde-balinalari-isaret-etti-bakin-5-ocakta-ne-olmus" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/the-biggest-obstacle-ahead-of-bitcoin-liquidity-contraction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> continues to increase, and the most critical level for analysts is currently observed at $27,000. At the time of writing, Bitcoin was trading at $26,661.</p>
<p class="p1" style="text-align: justify">The movement in the price of BTC started with the Producer Price Index (PPI) coming in higher than expected, causing concerns about ongoing inflation pressures in the country. As a result, the US dollar continued to strengthen, and there were increased outflows from risky assets.</p>
<h2 id="img-decoding-async-class-aligncenter-wp-image-265505-size-full-src-https-coin-turk-com-wp-content-uploads-2023-10-uretici-fiyat-endeksi-webp-alt-width-1400-height-1080"><img decoding="async" class="aligncenter wp-image-265505 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/uretici-fiyat-endeksi.webp" alt="" width="1400" height="1080"></h2>
<h2 class="p1" style="text-align: justify" id="bitcoin-analysis-by-analysts">Bitcoin Analysis by Analysts</h2>
<p class="p1" style="text-align: justify">Michael van de Poppe, the founder and CEO of MN Trading and a renowned analyst, shared the following statement on the matter:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“The PPI is coming in hotter than expected, which means the dollar index (DXY) will likely make a upward jump, and Bitcoin will make some corrections.”</p>
</blockquote>
<p class="p1" style="text-align: justify">Bitcoin, which has lost nearly $1000 in value since the beginning of the week, has reached its lowest level since September 29. As a result, Bitcoin, which has reset its gains in October, has lost its “Uptober” characteristic for now. However, according to Van de Poppe, this drop is the final stage for the crypto market:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“This situation may reverse in October and we may enter an upward trend in November or reverse for a pre-halving or ETF rally in late December. Bitcoin has good days ahead.”</p>
</blockquote>
<p class="p1" style="text-align: justify">In line with all these developments, another popular analyst, Skew, drew attention to the $26,800 level for Bitcoin in a post. According to the analyst, this level is critical for Bitcoin. In the post, Skew made the following comment along with a four-hour chart:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“Bitcoin will wait for closure, but so far it looks like a rejection, and the $26,800 level is the last area for bulls to do something.”</p>
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-whales-attack-these-altcoins-investors-beware/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-whales-attack-these-altcoins-investors-beware/</a>

Bitcoin Whales Attack These Altcoins – Investors Beware

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