Bitcoin and Ethereum Prices at Risk of Correction

Renowned analyst Markus Thielen evaluated the current price movements of Bitcoin and Ethereum. Thielen predicted that Bitcoin could rise to $63,000, but he also foresaw a potential drop in price due to structural weaknesses in the cryptocurrency market. Following the approval of the Bitcoin ETF, Thielen predicted that the cryptocurrency could drop to $38,000, and his previous accurate predictions are noteworthy. Economic Data and Market Volatility Uncertain values such as inflation and employment data in the US economy, as well as the overvalued stocks of MicroStrategy through Bitcoin, reinforce the possibility of correction in Bitcoin and Ethereum prices. The uncertainty surrounding the Fed’s interest rate cut creates pressure on the market. Thielen’s report indicates that despite low trading volumes, the rising price of Bitcoin is dragging the market into a weak structure. Meme Coin Warning for Investors While Ethereum shows weak performance after the London upgrade, the rally of meme […]

Bitcoin and Ethereum Prices at Risk of Correction

Renowned analyst Markus Thielen evaluated the current price movements of Bitcoin and Ethereum. Thielen predicted that Bitcoin could rise to $63,000, but he also foresaw a potential drop in price due to structural weaknesses in the cryptocurrency market. Following the approval of the Bitcoin ETF, Thielen predicted that the cryptocurrency could drop to $38,000, and his previous accurate predictions are noteworthy.

Economic Data and Market Volatility

Uncertain values such as inflation and employment data in the US economy, as well as the overvalued stocks of MicroStrategy through Bitcoin, reinforce the possibility of correction in Bitcoin and Ethereum prices. The uncertainty surrounding the Fed’s interest rate cut creates pressure on the market.

Thielen’s report indicates that despite low trading volumes, the rising price of Bitcoin is dragging the market into a weak structure.

Meme Coin Warning for Investors

While Ethereum shows weak performance after the London upgrade, the rally of meme coins seems to have peaked. The increase in trading volumes in South Korea indicates the end of the meme coin frenzy and could signal the beginning of a significant correction process.

In conclusion, according to Thielen’s analysis, the likelihood of price changes in both Bitcoin and Ethereum is increasing, and the end of the increase in the meme coin market is a sign for investors to be cautious.

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how to buy crypto?
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