Bitcoin Price Plunges: Market Fear Peaks as Analyst Eyes BTC’s Potential Rebound

2024-8-4 13:30

Bitcoin has had a price crash this weekend as reported by analyst Crypto Rover in a YouTube video. The leading asset traded below $60k, sparking fears of a broader market downturn. 

However, the analyst suggests this extreme fear could signal a buying opportunity.

Market Sentiment Shifts 

The crypto market has entered a state of extreme fear, historically seen as a potential indicator for investors. This sentiment shift comes amid cooling recession fears and changing expectations for Federal Reserve policy as noted by Crypto Rover. 

Consequently, the analyst observes that prior projections of a more aggressive 50 basis point decrease have been replaced with the possibility of a 25 basis point rate cut.

With the close price of bitcoin hanging around $61,200, the price movement has established a fresh CME gap.

On the 4-hour timescale, BTC is also exhibiting indications of a bullish divergence. 

Macroeconomic Factors at Play 

The strength of the Japanese Yen against the US Dollar has emerged as a critical indicator for market watchers. A stronger Yen could potentially signal a bearish period for the US stock market. 

Moreover, this currency movement might foreshadow a recession, further complicating the global economic sector.

Analysts expect the Federal Reserve to implement interest rate cuts within the next six weeks. Historical data suggests that markets tend to peak two to four months after the Fed initiates rate cuts. 

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} Next Big Airdrop?.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

Notcoin airdrop on Telegram made millions to people. Don’t miss out on the next TG airdrop by the same team – Dogs on Ton!

Show more +Show less –

Read also: Solana Price Prediction – When Will SOL Break $200?

Consolidation Phase and Future Outlook 

Bitcoin appears to be in a consolidation phase, which could persist for up to 250 days based on past patterns.  The analyst anticipates an explosive breakout following this period of sideways movement. 

Furthermore, the four-year cycle post-Bitcoin halving indicates that a substantial price run-up may be on the horizon.

Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.

We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Bitcoin Price Plunges: Market Fear Peaks as Analyst Eyes BTC’s Potential Rebound appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

analyst price bitcoin market fear broader fears

analyst price → Результатов: 126


Фото:

Ether September Price Lows Could Signal End of Bitcoin Bear Market: Analyst

Ether (ETH) prices “capitulating” in September was “significant” to ending the 2018 cryptocurrency bear market, according to a new theory from one cryptocurrency analyst.   Thies: ‘We Were Looking In The Wrong Place’ In a series of tweets, UTR Equity’s crypto market commentator Eric Thies postulated that Bitcoin’s run to all-time price highs in December 2017 came as a result of Ether investment during the ICO phenomenon.

2018-10-9 16:00


Short-Term Traders Responsible for Ranging Bitcoin Price, Says Analyst

As the price of Bitcoin remains stuck between $5,500 and $8,500 for three months now, the Bitcoin trading community wonders when the spell will break and in which direction. Kevin Lu, the director of quantitative research at Element Digital Asset Management, a full-service advisor for the digital asset economy, said the Bitcoin market is in a reflexive state.

2018-9-1 21:00


Фото:

HODL On A Minute: CNBC Claims Popular Bitcoin Term Is ‘Acronym’ In New Film

US media network CNBC has already courted controversy prior to airing a documentary dedicated to Bitcoin and cryptocurrency. Dubious Facts Set The Tone Just a week after an analyst poked fun at the network, which frequently covers the industry, over its record of correctly predicting Bitcoin’s future price moves, the announcement of ‘Bitcoin: Boom or Bust’ has set a curious tone.

2018-8-27 19:00


Фото:

CNBC as Reverse Indicator of Bitcoin Price ’95 Percent Accurate’

Mainstream media network CNBC has become an unlikely Bitcoin hero this week after an analyst showed its bull and bear forecasts were, in fact, signs the cryptocurrency would do the opposite. Bulls, Bears, And CNBC In a submission on TradingView, Jacob Canfield noted how various tweets from CNBC about Bitcoin going higher or lower coincided with abrupt U-turns in the cryptocurrency’s price direction.

2018-8-25 01:00