On November 14, the so-called Trump pump, which began on November 6, ended, so investors are interested in the answer to the question of how much the price will fall in the future. Bitcoin и Ethereum (ETH).
This Thursday, for the first time since November 6, when it became known that Donald Trump had won the US presidential election, cryptocurrency issuers ETF fixed capital outflow. Bitcoin-based funds lost $400,7 million in a day, while derivatives based on Ethereum lost $3,2 million.
Due to the negative trend, the capitalization level of BTC- ETF fell to $55,9 billion, and ETH's market cap ETF fell to $9,7 billion. These facts clearly indicate the end of the bull rally that arose due to Trump's victory.
During the correction that began on November 13, Bitcoin fell in price up to $86,693 on the stock exchange Bitstamp . But, as can be seen on the chart, the bears have not yet managed to gain a foothold under the support barrier at $87,712, which coincides with the 23,6% Fibonacci level. However, due to a significant drop in trading volume, sellers are highly likely to storm this barrier, and BTC will fall in price to about $84,000, that is, the asset price will decrease to 38,2% Fibonacci level, but is unlikely to fall to the 220-hour moving average, which is currently around $82,900.
Probable change in Bitcoin exchange rate
In the market Ethereum a more dangerous situation has developed. After reaching a peak of $3451, the coin's rate collapsed to $3018 and broke through the 23,6% Fibonacci level. The cryptocurrency price is currently hovering near the 220-hour moving average line, which coincides with the 38,2% Fibonacci level.
Due to the drop in trading volume, buyers are not expected to become active, so the downward trend will continue, and the ETH price will fall below $3000. However, the bearish trend should fade away after the altcoin rate falls to $2927, as sellers are unlikely to break through the 50% Fibonacci level.
Possible price fluctuations Ethereum
True, analysts at CryptoQuant are of the opinion , that the demand for Bitcoin remains high as new investors continue to enter the market, eliminating selling pressure and price declines.
