Bitcoin on the verge of collapse! BTC price will crash to $13,584 in 2 days, Coincodex warns

Significant fluctuations in the price of the king of cryptocurrencies

According to an analysis conducted by the Coincodex platform, currently as many as 15 out of 28 observed technical indicators indicate a bearish outlook for the cryptocurrency market. On this basis, analysts forecast that the prices of Bitcoin and Ethereum will fall by 20% and almost 26% respectively in the near future.

The price of Bitcoin will drop by 20 percent

According to the projections of experts from Coincodex, the price of Bitcoin will fall by December 14, 2022 to $ 13,584 from over $ 16,900 currently, which means a potential drop of about 20 percent in just two days.

Source: coincodex.com

It is worth noting here that the level of USD 13,584 for BTC would be the lowest price level for this cryptocurrency since the beginning of November 2020.

The price of Ethereum will fall by almost 26 percent

Experts from Coincodex also predict that the fall in BTC will also hit Ethereum, the price of which will fall to $924.04 by December 14, 2022 from over $1,240 today. This represents a potential drop of almost 26 percent in just two days.

Source: coincodex.com

It is worth noting that the level of USD 924.04 for ETH would be the lowest price ceiling for this cryptocurrency since June 18 this year, when its exchange rate dropped for a while to the region of USD 881 and one of the lowest since the beginning of January 2021.

Experts from Coincodex assume, however, that Ethereum will not stay below the level of USD 1,000 for too long and on the next day, i.e. on December 15 this year, it will return above this psychological barrier.