Beware of the Bears! Bitcoin and Ethereum Prices Expected to Plunge Soon

Investors are watching closely as Bitcoin and Ethereum prices prepare to make their next move. After a recent rally, most investors expect the prices of both cryptocurrencies to take a bearish turn in the coming weeks.

However, it’s important to note that a decrease in transaction volume on the Bitcoin network doesn’t necessarily mean that the market is headed for a downturn. Reduced network activity can be a sign of fear, uncertainty, and doubt (FUD) among traders, but it doesn’t always lead to lower prices.

Is Ethereum Headed Down?

A recent market report from Santiment, an on-chain intelligence platform, suggests that the Ethereum price is likely to continue its downward trend in the coming weeks. The report found that Ethereum whales and sharks have been selling heavily since the price of Ether surged above $2,000 following the Shanghai upgrade earlier this year.

Santiment analysts believe that Ethereum’s price could reach a critical support level of around $1,500. They also expect to see a surge in trading volume once the asset reaches this level, as investors look to buy at lower prices.

Bitcoin’s Price Outlook

Meanwhile, prominent crypto analyst Captain Faibik is forecasting a bearish outlook for Bitcoin in the coming weeks. He has identified a bearish pennant pattern on the 4-hour time frame, which suggests that the Bitcoin price could continue to decline to around $24,500 before the end of September.

What does this mean for investors?

The outlook for Bitcoin and Ethereum prices is uncertain in the short term. However, investors should be aware of the potential for further declines in the coming weeks. If you’re considering investing in cryptocurrencies, it’s important to do your research and understand the risks involved.

What are your investment strategies for the coming weeks?