Cryptocurrency Analyst Predicts Bitcoin Could Crash to $9,000

2019-6-30 17:59

While the crypto community is looking forward to a huge bullish Bitcoin move that will take it to a new all-time high, an analyst, ‘Financial Survivalism’, in a TradingView market analysis says the top cryptocurrency is likely to experience a much more severe pullback than it has experienced in the last few days. He says Bitcoin could crash to $9,000 once it rises to $12,400 again.

Financial Survivalism who said the market was overdue for a correction right from $5,800 through $8,000, cited three technical reasons why this is possible. First, he said Bitcoin will get the uptrend support it had from April till recently, thus preparing it for another big move.

Via @Sawcruhteez Analysis

Secondly, he affirmed longs may need to close their positions as BitMex hits very high levels. He also cited a weakness from the Average Directional Index which is likely to affect the daily price.

Most analysts have predicted the opposite of what Financial Survivalism is saying though. Bitcoin is in fact expected to reach a new all-time high soon and although the market isn’t getting the kind of attention that was anticipated, these analysts still believe it is a sign that Bitcoin could go even higher.

Tom Lee of Fundstrat is one of such analysts. He had predicted earlier that the huge FOMO would hit the market once Bitcoin got to $10,000. The FOMO did not happen as expected and described this as an indication that Bitcoin is meant to go higher. Veteran trader Peter Brandt also agrees with this school of thought and is positive that Bitcoin could be going that high.

Bitcoin has already turned red at the time of writing this article although it is yet to recover to $12,400. It is currently trading at $11,938 but it is not clear if this trend will continue. According to Financial Survivalism’s prediction, the trend should change shortly until $12,400.

It is however left to the market to decide if Bitcoin crashes to $9,000 from $12,400 or keeps going to new highs, either way, some Bitcoin holders could benefit by taking profits and buying the dip while those who haven’t bought at all could have another chance to buy at a lower price.

The post Cryptocurrency Analyst Predicts Bitcoin Could Crash to $9,000 appeared first on ZyCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Global Cryptocurrency (GCC) 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
Цена в час новости $ 0.0038508 (-100%)

cryptocurrency bitcoin analyst says predicts could crash

Источник: zycrypto.com

cryptocurrency bitcoin → Результатов: 126


Фото:

Current Bitcoin Whale Population Looks Exactly Like September 2017, Just As BTC Ascended To $20K

Over the last few days, bitcoin’s price action has been quite dramatic. On June 15, the bellwether cryptocurrency tumbled below $9k alongside the US stock market which also took a dive. A few hours later, however, the cryptocurrency rebounded to as high as $9,500 after the Fed announced it will begin purchasing individual corporate debt. […]

2020-6-17 14:26


Bitcoin’s Uptrend Could End if It Stays Below $10,000; Here’s Why

Bitcoin’s overnight swing to highs of over $9,900 has led the cryptocurrency to enter a firm bout of sideways trading that has persisted throughout the past day. The cryptocurrency’s market structure has been bolstered by its ability to find some stability in the mid-$9,000 region despite the multiple rejections it has faced at $10,000. Analysts...

2020-5-19 04:00


Five Years of Bitcoin Trendlines All Lead to This One Point; “Fireworks” Inbound

Since Bitcoin’s genesis block was first mined, the cryptocurrency has been caught within a whirlwind that has allowed BTC to post gains that defy historical precedent. Although the past couple of years have tempered the excitement surrounding the cryptocurrency, it is important to note that multiple bullish factors are fast approaching on the horizon, and... The post appeared first on NewsBTC.

2020-1-24 04:02


Why Has Bitcoin SV (BSV) Plunged By 40% From Its $450 Peak?

Aside from Bitcoin, there’s almost no other crypto asset that has been talked about as much as the Satoshi Vision fork (BSV) over the past week. The past seven days for the now-fifth largest cryptocurrency by market capitalization have been rather tumultuous, with the cryptocurrency starting the week off flat to explode higher from just... The post appeared first on NewsBTC.

2020-1-18 09:00


Фото:

Getting In and Out of the Cryptocurrency Economy Can Be Costly

Since bitcoin and digital currencies have become popular, fiat on and off-ramps have sprung up that allow investors to enter and exit the cryptoconomy. However, many of the entryways into cryptocurrency markets have a hefty fee between 1-4% of the overall purchase and in order to obtain fiat for crypto the fees are just as […] The post Getting In and Out of the Cryptocurrency Economy Can Be Costly appeared first on Bitcoin News.

2019-12-24 18:00


Фото:

Cryptocurrency and Blockchain Regulations Clarified in Rocky Mountain U.S. States

In a bid to provide regulatory clarity to issuers and buyers of distributed ledger technology (DLT) based virtual currencies in the area, Wyoming, Colorado, and Montana states have taken the bold step to draft bills pertaining to the use of bitcoin and altcoins,  reports Natlawreview  on August 1, 2019 The Pro-Crypto Trio Per sources closeRead MoreRead More.

2019-8-3 01:00


Bitcoin’s price dominance over altcoins’ surge speculated to restore balance to the cryptocurrency market

Bitcoin’s resurgent behavior over the week has riled up the community again, with many sharing hopes that this time around the world’s largest cryptocurrency will break its all-time highs.  During these fluctuations, many patterns have also been noticed that contributed to the overall behavior of the cryptocurrency market.

2019-7-4 10:04


Bitcoin [BTC]: Select Scotland cycle-rickshaws now accept cryptocurrency as payment via Lightning Network

Bitcoin, the world’s largest cryptocurrency, has been having a field day lately as the king coin crossed multiple resistances in just two weeks to inch closer to the $6,000 mark. On May 7, the coin was trading at around $5,900, and the bull run seems to have positively impacted global adoption of the cryptocurrency.

2019-5-8 23:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin May Hit $1.5 Million By 2035 According To Metcalfe’s Law, Analyst Predicts

As Bitcoin (BTC) continues its pullback into the low $90,000 range, analysts are divided on how much further the top cryptocurrency might fall before a potential bounce. However, long-term market observers remain confident, emphasizing that short-term price action does not alter their belief in BTC’s eventual rise to a million dollars or more in the coming years.

Finder’s Panel Predicts 11% Growth For Bitcoin By Year-End

Finder’s panel has always shared thoughts regarding bitcoin and where they see the price going over the next months, and even years to come. In the last year, there have been some bullish predictions from the panels, but as time has gone on, these experts have begun to adjust their predictions to fit the current market.

Bitcoin On The Verge Of Experiencing An 80% Correction – Peter Brandt

The bitcoin price movement has become quite complex and most analysts are not sure where it could be going next. The pattern has been unstable since the last week and the future seems to be getting bleaker as Bitcoin has failed to reach $12,000 again since the 30% correction experienced recently.