NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Falls Below $4,000 Yet Again, What are the Factors?

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In spite of a number of positive industry developments, namely the announcement of a Nasdaq and VanEck-backed “crypto 2.0” futures plan, Bitcoin (BTC) continued to toss and turn on Monday morning. At first, many thought BTC was going to hold $4,000, as the market tried and failed to breach the aforementioned level of technical and psychological support. Eventually, however, the bears gained the upper hand over the bulls, pushing the asset quickly below $4,000 to a daily low of $3,900 on Coinbase to the chagrin of cryptocurrency optimists.

Like BTC’s previous sell-offs, analysts weighed in on the price action, aiming to determine where cryptocurrencies will step next.

Bitcoin Analyst: “More Chop, Less Drop”

On Sunday evening, prominent crypto trading extraordinaire, The Crypto Dog, took to Twitter to convey his most recent insight on the cryptocurrency market to his 105,000 followers. This update, issued when BTC was situated above $4,150, expressed that the analyst wasn’t convinced that a foray to the upside was in store for Bitcoin. Backing his claim, Crypto Dog drew a chart that accentuated to BTC’s inability to break out of a short-term ascending triangle, a foreboding sight for those not in the know.

The trader, who divulged he opened a short position at $4,160, jokingly added that he was “fairly confident” he’d have an opportunity to cover “below $4,150 between now and 2020.”

Although some originally laughed at his play, with one commenter expressing that the long-term Bitcoin bottom was potentially established below $3,500, his short-side bet became a winning play, as BTC fell under $4,000 as aforementioned.

Following the recent sell-off, which took crypto’s common Joes aback, Crypto Dog revisited his original thread on Dec. 2nd/3rd’s price action to discuss BTC’s prospects moving forward.

https://twitter.com/TheCryptoDog/status/1069428478473355264

The self-proclaimed “full-time blockchain investor and market commentator” drew attention to the 50% level for the Fibonacci Retracement indicator, a common technique utilized by technical-centric traders. Crypto Dog noted that if BTC holds above the Fibonacci level in question, currently situated at $3,928, he expects widespread capitulation to be put on hold, but for the incessant stormy up and down movement to resume. He added that there wasn’t enough selling pressure to warrant a call for further sell-side action, nor a prediction for lower lows.

Still, in his eyes, current price action doesn’t hide the fact that crypto remains in a wounded state, no matter how some desire to paint or spin it. Crypto Dog released the following statement, an evidently disheartening message for short to mid-term bulls, in tandem with his aforementioned analysis:

“We are still in a bear market. We are much nearer towards the end of it, I imagine, but there is no sense being net positive BTC above $4k at this point. A bear market doesn’t end and we go straight up. If the bottom is in, then I still imagine we at least re-test the lows.”

Interestingly, however, since he posted the aforementioned analysis piece, BTC has held strong above the level he singled out, recovering to a smidge under $4,000. So as it stands, Bitcoin bears may need to delay their gruesome crusade for a little while longer.

Zealous Crypto Believers Maintain Long-Term Faith

Eric Thies, a crypto-friendly managing partner at UTC Equities, took Bitcoin’s most recent drawdown in stride, taking to his social media soapbox to double-down on his unbridled faith in the decade-old asset.

https://twitter.com/KingThies/status/1069431477874548736

Thies, evidently referencing the speculation regarding where Bitcoin will eventually bottom, noted that scrutiny over small nuances in purchase price is meaningless. The investors added that he expects for BTC’s next floor to be above $20,000, making a few percent difference in buy-side cost basis near-negligible in the grand scheme of things.

The UTC Equities representative isn’t alone in his touting of such bullish sentiment. As reported by NewsBTC previously, Tom Lee, head of research at Fundstrat Global Advisors, recently stated that while 2018’s downtrend has deterred a majority of prospective investors, Bitcoin still has big shoes to fill in the digital payment realm, and is only “bent, not broken.”

Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

cronos

Cronos cenová predikce: Cena CRO raketově vyletěla po investici Donalda Trumpa

Cronos (CRO) se stal jednou z nejdiskutovanějších kryptoměn posledních dní poté, co oznámená miliardová investice společnosti Trump Media vystřelila jeho...

Lenka Hanzlíková 2 hours ago
cardano

Cardano: Γιατί μπορεί να ξεπεράσει τα $15 έως το 2030

Μέσα σε έναν κόσμο κρυπτονομισμάτων που λειτουργεί με ταχύτητα, hype και συχνά πρόχειρες λύσεις, το Cardano επιμένει να ακολουθεί έναν...

Ιωάννης Ριζόπουλος 2 hours ago
Bitcoin

No Fireworks, Just Grind: Bitcoin Could Drift To $1M Over 7 Years: Analyst

According to pseudonymous Bitcoin analyst PlanC, the road to $1,000,000 per coin might look a lot less pronounced than many...

Christian Encila 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price news

Dogecoin Bull Run Could Start On September 13, Analyst Predicts

Jake Simmons 21 minutes ago
Shiba Inu

Shiba Inu Active Addresses Crash Over 50% In 3 Months, What About SHIB Price?

Scott Matherson 1 hour ago
ethereum koers, bitcoin koers, eth koers, ethereum vs bitcoin, wat gaat ethereum doen, altcoin season, altseason

ETH verslaat BTC volgens SharpLink CEO – altseason in september?

Lars Diederiksen 1 hour ago

Premium Sponsors

Press Releases

  • シバコイン...

    5 minutes ago
  • パイネットワーク...

    15 minutes ago
  • XRP проби ключово съпротивление — дали Token6900 ще бъде следващият, който ще избухне?

    XRP проби ключово съпротивление...

    53 minutes ago
  • Top Meme Coin

    ICO Meme Coin tốt nhất để mua trước mùa Altcoin...

    56 minutes ago
  • So sánh nhanh - TOKEN6900 và các meme coins hàng đầu trên thị trường

    Presale Crypto tốt nhất để mua: TOKEN6900 ra mắt...

    1 hour ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.