Prominent technical analyst Carter Worth predicted that the price of Bitcoin and Ethereum would head lower
US stock market strategist and financial analyst Carter Worth has noted that both bitcoin (BTC) and ethereum (ETH) “unlucky hovering” at the point of breaking.
Worth believes that both of these cryptocurrencies will likely fall lower.
The doom-filled warning from the Wall Street giant comes after the bitcoin price hit an intraday low of $19,458 on the Bitstamp exchange.
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-$2-0.000 level, triggered by another bearish in the US stock 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.
The market capitalization of bitcoin is currently $376 billion. The cryptocurrency is down 71.48% from its all-time high it logged last November.
