
Bitcoin Faces Final Capitulation Risk: Could $40,000 Be Next?
Summary
Major cryptocurrencies experienced a downward trend this week as Bitcoin dropped under the seventy thousand dollar threshold. Analysts suggest this market movement might represent a final capitulation phase ahead of a four-year cycle bottom. Historical patterns indicate that sharp selloffs often occur following midterm elections in the United States.
Bitcoin (CRYPTO: BTC) slipped below $70,000 this trading week, Ethereum (CRYPTO: ETH) fell 4%, while XRP (CRYPTO: XRP) held near $1 — the potential final capitulation phase before reaching a four-year cycle bottom, according to Benjamin CowenIn his latest Into The Cryptoverse analysis, the analyst highlighted Bitcoin’s historical tendency to experience sharp selloffs following U.S. midterm elections.He pointed to November…
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