X

William from Philadelphia

Signed up at ETH Play 41 minutes ago.

» Try ETH Play too
Do not show again

Bitcoin and most of the major cryptocurrencies dropped again this Thursday alongside equities after the US reported that consumer price inflation for August came in hotter than expected, fuelling expectations for an aggressive interest-rate hike at the Federal Reserve’s September 20-21 meeting.

But where is the price of Bitcoin (BTC) going next, in the fourth quarter of 2022? Today, Crypto Lists will discuss Bitcoin price estimates for Q4, 2022 from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk and how much margin you have if trading Bitcoin with leverage.

The signs of decelerating price pressures in July proved to be short-lived

The last several months have been extremely taff for the cryptocurrency market, and cryptocurrencies have been suffering from heavy selling due to hawkish signals from central banks and uncertainty because of the Ukraine crisis.

Bitcoin and most of the other major cryptocurrencies dropped this Tuesday again alongside equities after the US reported that consumer price inflation for August came in hotter-than-expected, fuelling expectations for an aggressive interest-rate hike at the Federal Reserve’s September 20-21 meeting. Will the FED raise 1% instead of 0.75% as initially expected? That can be dangerous for those long in BTC.

According to the Bureau of Labor Statistics, the consumer price index rose 0.1% in August (against the expectation of a 0.1% dip) following a flat reading in July, while the core inflation accelerated more than expected. On a year-on-year basis, the consumer price index increased by 8.3%, while economists were anticipating a rise of 8.1%, according to a Reuters poll. Shelter, food, and medical care were “the largest of many contributors to the broad-based” headline increase, and Morgan Stanley Chief US Economist Ellen Zentner wrote in a report:

“The August report clearly sends a hawkish message as the signs of decelerating price pressures in July proved to be short-lived. A 75 basis-point increase is likely for next week’s rate decision.”

No pause for FED

Federal Reserve Chair Jerome Powell also confirmed that the Federal Open Market Committee would not pause its campaign to bring price growth down, while Federal Reserve Bank of St. Louis President James Bullard said that he is open to the idea of another outsized interest-rate increase at the central bank’s meeting this month.

Investors are worried that an aggressive interest rate hike policy could trigger an even bigger sell-off, and in light of this, Bitcoin (BTC) might have a hard time holding above the $20000 level. It is important to mention that the cryptocurrency market is correlated with the stock market, and if a downtrend is witnessed in the stock market, the same is replicated in the crypto-sphere as well.

Analysts at Nomura Securities now believe that the Fed will go as far as announcing a 100-basis point hike, and according to them, market sentiment will stay overwhelmingly bearish in the fourth quarter.

Jeong Seok-moon, the head of South Korean exchange Korbit, said that crypto winter could end before the end of 2022, but he also thinks that the US Federal Reserve’s attempts to fight high inflation would continue to influence crypto markets in the meantime.

Rating: 9.5/10
Supply: 18,925,000 / 21,000,000
Release date: January 3, 2009

Description: Discover where you can trade BTC and other cryptocurrencies. See the latest news about Bitcoin here at Crypto Lists.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Technical analysis for Bitcoin

After recovering in July, the price of Bitcoin dropped by roughly 15% in August. The current price stands above $20000 support, but a break below this level would indicate that Bitcoin could probably test the price level at $19000.

On the chart below, I marked the trendline, and as long the price of Bitcoin is below this trendline, we can’t talk about a trend reversal, and the price of BTC remains in the SELL-ZONE.

Bitcoin graph over bear market trend

Main support & resistance levels for Bitcoin

bitcoin support and resistance levels, Q3-Q4, 2022

On this chart (the period from January 2022), I marked the main support and resistance levels that can help traders to understand where the price could move. The more often price tests a level of resistance or support without breaking it, the stronger the area of resistance or support is. When the price passes through the resistance, that resistance could potentially become support. Bitcoin remains in the “bearish phase, “but if the price advances above $25000, it could be a sign of the trend reversal, and the next target could be located around $27000. The current support level is $20000, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $19000. If the price drops below $17500, which represents very strong support, the next target could be located around $15000. If the interest rates keep rising, and if the economy is starting to slow down into a deeper recession,

What speaks for the rise in the Bitcoin price

Bitcoin has surged more than 25% since the beginning of July, rising from $18960 to a high of $25212 reached on August 15. The sudden upswing took Bitcoin to test the $25000 level multiple times, but it did not show enough strength to stabilize above it. The current price stands above $20000 support, but a break below this level would indicate that Bitcoin could probably test the price level at $19000. Many surveys show that institutional investors still remain bearish on Bitcoin, especially because of the fact that the aggressive interest rate hike policy from the US central bank could trigger an even bigger sell-off. Bitcoin remains in the “bearish phase, “but if the price advances above $25000, it could be a sign of the trend reversal, and the next target could be located around $27000. It is important to mention that Bitcoin is usually correlated with the US stock market, and if an uptrend is witnessed in the stock market, the same is replicated in the crypto-sphere as well.

What indicates further downfall for Bitcoin

Bitcoin and most of the major cryptocurrencies dropped this Tuesday alongside equities after the US reported that consumer price inflation for August came in hotter than expected, fueling expectations for an aggressive interest-rate hike at the Federal Reserve’s September 20-21 meeting. The current BTC price stands above $20000 support, but a break below this level would indicate that Bitcoin could probably test the price level at $19000.

Bitcoin price expectations from analysts and experts

Bitcoin and most of the major cryptocurrencies dropped this Tuesday again after the US reported that consumer price inflation for August rose more than expected. According to the Bureau of Labor Statistics, the consumer price index rose 0.1% in August against the expectation of a 0.1% dip. Morgan Stanley Chief US Economist Ellen Zentner said that the signs of decelerating price pressures in July proved to be short-lived, and a 75 basis-point increase is likely for next week’s rate decision. Investors are worried that an aggressive interest rate hike policy could trigger an even bigger sell-off, and in light of this, Bitcoin (BTC) might have a hard time holding above the $20000 level. Analysts at Nomura Securities now believe that the Fed will go as far as announcing a 100-basis point hike, and according to them, market sentiment will stay overwhelmingly bearish in the fourth quarter.

by Our Certified Author
Bitcoin Newsflash
    When Bitcoin HODLing doesn't pay, is it time to play?When Bitcoin HODLing doesn't pay, is it time to play?
    Monday, 15 Jan 2024 2:24 pm
    Although the Bitcoin ETF has been priced in for quite some time, it looks like the epic bull run predicted for January might not come to fruition. In fact, some analysts have said that we might actually see a downturn between now and the halving (due sometime in April) to correct for the boost in price in the run up to the SEC's approval. In circumstances like this, many people find online Bitcoin casinos a great way to spend their crypto when HODLing isn't bringing in the big bucks. If you want to sign up to a casino that you can sign up to in seconds without any KYC then we recommend signing up to LTC Casino which is one of our firm favorites...
    Read the full newsflash


    Spin to win 1 BTC on Crypto Games IO todaySpin to win 1 BTC on Crypto Games IO today
    Wednesday, 8 Nov 2023 12:50 pm
    Want to experience a truly thrilling experience where anything could happen and there's 1 beautiful Bitcoin up for grabs? Does it sound too good to be true? Well your dreams can materialize with Crypto Games IO (review) and their magic crypto spin wheel. Played it before? No problem as you can do it once per day! And don't forget about their Tether welcome bonus of up to 20,000 USDT - and remember you can also use other crypto coins too if you'd prefer. What's not to love about this awesome new kid on the block? Sound like a casino you wanna give a spin? Play on Crypto Games IO now and experience a really cool Web3...
    Read the full newsflash


    Bitcoin jackpot opportunity at Crypto Games IOBitcoin jackpot opportunity at Crypto Games IO
    Thursday, 26 Oct 2023 12:33 pm
    Are you having too little Bitcoin (BTC)? Probably most of us think so, except Michael J. Saylor perhaps. But Crypto Lists have good news for you. The newly launched BTC Casino called Crypto Games IO (see review) have a surprise for secret players. You can spin the Bitcoin Jackpot wheel, where you can win up to 1 BTC, straight in your pocket. Sign-up now and give it a try - it's too good opportunity to...
    Read the full newsflash


    BTC bounces above $30k for first time since JulyBTC bounces above $30k for first time since July
    Monday, 23 Oct 2023 7:36 am
    In good news for Bitcoin maximalists and HODLers around the world, Bitcoin (BTC) has surged over the past 24 hours riding a profit wave all the way up to $30k+ for the first time in three months. Some big-name Twitter (X) analysts such as Bob Loukas think December could see rather large lows. Not going down as much as December 2022, but below $20k. Others think it should end the year strong at around the $30k price. Only time will tell. If you're keen to get your hands on some BTC then sign up to Coinbase now as it's a very easy to use platform that's good for both beginners and experienced...
    Read the full newsflash


    Bitcoin breaks $28,000 barrier as bullish trends brewBitcoin breaks $28,000 barrier as bullish trends brew
    Monday, 2 Oct 2023 6:11 am
    Bitcoin and the altcoins that follow in its wake has been on a surge this weekend, breaking the $28,000 barrier for the first time in well over a month. There are rumblings that an ETF may be approved in the coming months, which would see the price likely explode, however this jump is certainly not yet on that kind of scale. Where the price moves next is anyone'e guess, and the price has stabilized at the time of writing at 08:08 CET. Want to jump in and get involved with the world's biggest crypto coin? Sign up to Coinbase now and trade easily...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • Gorilla logo
     Gorilla
    ETHEREUM-TOKEN
  • Dynasty Wars logo
     Dynasty Wars
    SOLANA-TOKEN
  • Kaspa logo
     Kaspa
    NATIVE-COIN
  • IOTA logo
     IOTA
    NATIVE-COIN
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top