The post Bitcoin Price Could Drop To $57k Amid Israel’s ‘Imminent’ Attack appeared on BitcoinEthereumNews.com.

The Bitcoin price could drop to as low as $57,000, according to a recent prediction by popular analyst Justin Bennett. Israel’s imminent attack against Iran could be what leads to this price decline, considering how the flagship crypto dropped to $60,000 following Iran’s missile attacks against Israel. However, BTC’s long-term outlook is still bullish as several tailwinds lie ahead in this fourth quarter. Bitcoin Price To Drop To $57,000 Bennett predicted on his X platform that BTC could drop to $57,000. This came following his statement that the range between $57,000 and $58,000 is the area to watch for Bitcoin to stay “constructive.” The analyst also indicated that the flagship crypto was in bearish territory, stating that the only way for the BTC price to flip bullish is if it reclaims $62,000. The analyst claimed that the bears are in control until then and that dropping below $60,000 is possible. The Bitcoin price and altcoins are currently facing huge selling pressure thanks to the escalation in the Israel-Iran conflict. Although BTC dropped to as low as $60,000 following Iran’s strike on Israel, it has since enjoyed a relief rally back above $61,000. However, Bennett warned market participants to be careful with this rally. The analyst stated that the failure at $64,700 has opened up a sell-side liquidity. He noted that the BTC price already dropped to his first target of $60,000 and remarked that $57,000 “remains open for business.” Interestingly, he added that a case could be made for a price drop to $51,000, but he said it is unlikely at the moment. Israel’s Imminent Strike Against Iran Could Spark Price Decline Israel’s imminent strike against Iran could cause the Bitcoin price to drop to $57,000. Reports coming out of Israel are that the country plans to respond to the…

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Filed under: News - @ October 2, 2024 9:25 pm