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Experienced cryptocurrency analyst and trader Tone Vays issued a warning, stating that <a href="https://en.coin-turk.com/bitcoin-halving-what-investors-should-know/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent rally may end before reaching a crucial level, urging investors to be cautious of FOMO (fear of missing out). The analyst also issued warnings for the altcoin king <a href="https://en.coin-turk.com/he-paid-120000-to-buy-156000-of-this-altcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) and the popular altcoin Litecoin (LTC).
<h2 style="text-align: justify" id="strong-critical-fomo-warning-for-bitcoin-investors-strong">Critical FOMO Warning for Bitcoin Investors</h2>
Vays, during his recent strategy session, expressed that despite Bitcoin’s rise of over 10% this week, he does not expect the largest cryptocurrency to reach $32,000. The analyst stated, “At this point, we need to remain calm. I still expect the price to drop in November. I don’t expect Bitcoin to reach $32,000.”
<img decoding="async" class="aligncenter size-full wp-image-268994" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-BTC-kripto-Para-1-scaled.jpeg" alt="" width="2560" height="1103">
Looking at the Bitcoin chart shared by the analyst, it can be seen that he predicts the largest cryptocurrency to drop to around $28,000 without surpassing the $31,000 threshold, which is the peak of the range in which <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-a-possible-downward-sweep-for-btc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> is currently moving. As of the time of writing, BTC is trading at $29,987 with a 1.23% increase in the last 24 hours.
<h2 style="text-align: justify" id="strong-analyst-s-warnings-for-ethereum-and-litecoin-strong">Analyst’s Warnings for Ethereum and Litecoin</h2>
After Bitcoin, Vays first looked at Ethereum and noted that the altcoin king has formed a double bottom pattern against Bitcoin (ETH/BTC), but he does not expect this pattern to result in an uptrend. Although the double bottom pattern is typically seen as a bullish formation, the analyst does not expect it to serve as support for ETH/BTC and believes that the trading pair will move downwards.
<img decoding="async" class="aligncenter size-full wp-image-268995" src="https://coin-turk.com/wp-content/uploads/2023/10/Altcoin-Ethereum-Bitcoin.jpeg" alt="" width="2284" height="1268">
Lastly, Vays evaluated the peer-to-peer payment network Litecoin and mentioned that historical data shows a downward trend for LTC against Bitcoin (LTC/BTC) following the block reward halving. He stated that he expects a decline in the LTC/BTC trading pair.
<img decoding="async" class="aligncenter size-full wp-image-268996" src="https://coin-turk.com/wp-content/uploads/2023/10/Altcoin-Litecoin-Bitcoin.jpeg" alt="" width="2294" height="1351">
According to the analyst, the LTC/BTC trading pair is on the verge of a major collapse, which would result in an 80% drop in the price of the popular altcoin. Vays supported his collapse expectation by citing the 80% drop that occurred after the block reward halvings in 2015 and 2019. Continue Reading: <a href="https://en.coin-turk.com/critical-fomo-warning-for-bitcoin-investors-expert-analyst-predicts-bitcoins-rally-may-end-before-reaching-a-key-level/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/critical-fomo-warning-for-bitcoin-investors-expert-analyst-predicts-bitcoins-rally-may-end-before-reaching-a-key-level/</a>

Critical FOMO Warning for Bitcoin Investors: Expert Analyst Predicts Bitcoin’s Rally May End Before Reaching a Key Level

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