Main navigation

Wall Street Veteran Believes Bitcoin and Ethereum Look "Ominously" Bearish

Fri, 09/16/2022 - 16:04
article image
Alex Dovbnya
Prominent technical analyst Carter Worth predicted that price of Bitcoin and Ethereum would head lower
Wall Street Veteran Believes Bitcoin and Ethereum Look "Ominously" Bearish
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

American stock market strategist and financial analyst Carter Worth has noted that Bitcoin (BTC) and Ethereum (ETH) are both "hovering ominously" at a breakdown juncture.

BTC
Image by @CarterBWorth

Worth believes that both of these cryptocurrencies will likely fall lower.

The Wall Street veteran's doom-laden warning comes after the price of Bitcoin dropped to an intraday low of $19,458 on the Bitstamp exchange.

Related
Cardano Founder Says He Cannot Force Vasil Hard Fork

The largest cryptocurrency showed some signs of recovery earlier this September, but its modest rally was upended by higher-than-expected inflation data that was published on Tuesday.

On Thursday, the top cryptocurrency slipped below the make-it-or-break-it $20,000 level once again due to another downturn in the U.S. equities market.

Earlier this September, technical analyst Scott Redler predicted that the price of Bitcoin could end up dropping to $10,000 if it fails to hold the $17,600 support level.

Bitcoin's market capitalization currently stands at $376 billion. The cryptocurrency is down 71.48% from its record high that was logged last November.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.