Bitcoin price threatens $19.6K as Ray Dalio predicts 30% stocks crash

Bitcoin (BTC) tried to violate native lows on Sep. 16 as the newest cross-crypto downtrend intensified.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

No aid for BTC bulls publish Merge

Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD approaching $19,600 on the time of writing, with purchaser help simply avoiding an extra drop.

The extent had remained in place as an intraday ground because the Ethereum (ETH) Merge concluded, solely to spark a sell-off, which took ETH/BTC towards three-week lows.

ETH/BTC 1-day candle chart (Binance). Supply: TradingView

Amid the gloomy temper, merchants and analysts confirmed little inclination to reassess their market outlooks.

“I really feel assured with the situation of fast pump to 23k on BTC and 1800 on ETH and large dump from there,” Il Capo of Crypto wrote, reiterating a long-held concept.

“Time will inform.”

Warning that the state of affairs “doesn’t look good,” in the meantime, in style account CryptoBullet demanded a reclaim of the 100-period transferring common (MA) to flip bullish on the 4-hour chart.

Dalio: Fed fee hikes will see shares tumble

After an extra day of losses on United States equities, in the meantime, investor Ray Dalio drew some recent bearish conclusions about what the present inflationary local weather would imply for the markets.

Associated: Ethereum merchants shorted ETH value in report numbers in the course of the Merge — 50% crash forward?

In his newest weblog publish printed on Sep. 13, Dalio predicted the mixed injury for shares would price them 30% of their present valuation.

“The rise in rates of interest can have two kinds of unfavourable results on asset costs: 1) the current worth low cost fee and a pair of) the decline in incomes produced by property due to the weaker financial system. We’ve got to take a look at each,” he defined.

“What are your estimates for these? I estimate {that a} rise in charges from the place they’re to about 4.5 % will produce a few 20 % unfavourable influence on fairness costs (on common, although better for longer period property and fewer for shorter period ones) based mostly on the current worth low cost impact and a few 10 % unfavourable influence from declining incomes.”

That will spell hazard throughout highly-correlated crypto markets, with Bitcoin thus taking intention at ranges nearer to $10,000.

As Cointelegraph reported, that quantity is at present no stranger to long-term forecasters’ radar.

The Federal Reserve is tipped to enact an extra 75-basis-point rate of interest hike at subsequent week’s assembly of the Federal Open Markets Committee (FOMC), with some market contributors even anticipating 100 foundation factors, in response to knowledge from the CME FedWatch Software.

Fed goal fee chances chart. Supply: CME Group

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