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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Analyst: After $10,000, Bitcoin Price Will Never Again Trade at Four Digits

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
2 mins read

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While it was only a little more than six months ago that Bitcoin price was trading in the low $3,000s, where it set its bear market bottom and multi-year low, already the crypto asset is trading at over three times the value it was such a short time ago.

With such rapid growth, the first-ever cryptocurrency shows no signs of stopping, has avoided any significant corrections, and if such a growth rate keeps up, Bitcoin may never again trade below four digits, making right now potentially the “last opportunity to buy BTC below $10K.”

Crypto Analyst: Last Chance to Buy Four-Digit Bitcoin

We’ve all heard it before. Bitcoin will never again go below $XXXX price. It was a common thread after each rally began throughout the bear market, but each ultimately ended with an increasingly lower top, creating a descending triangle that broke down and brought Bitcoin to lows nobody expected.

The plummet left bulls in disbelief, and a short trip below $6,000 enabled whales to accumulate the crypto asset. Just as nobody expected support at $6,000 to break, they also never expected to leave bear market lows in Bitcoin’s dust so soon after the bearish meltdown.

Related Reading | Crypto Billionaire Tyler Winklevoss Calls for $15K BTC Once Bitcoin Price Breaks $10K

But here we are, and Bitcoin is once again flirting with critical psychological resistance at $10,000, and a break above could spark a brand new bull run.

In fact, the momentum Bitcoin has built up thus far has caused its 200-week moving average – the same important indicator that acted as support near the bottom – has begun to grow at such a high rate, that the price per BTC may never again trade below $10,000 soon after it goes above it.

#bitcoin 200 week moving average growing 5.6% per month … last opportunity to buy #BTC below $10k pic.twitter.com/uEKl24TEYt

— PlanB (@100trillionUSD) June 21, 2019

According to crypto analyst PlanB – a reference to Bitcoin – the asset’s 200-week moving average has once again started to grow at a rate of 5.8%. Past patterns have shown that this rate only increases during a bull trend – and arguably, the next bull trend hasn’t fully even started yet.

The analyst suggests that this might be the last time ever anyone can buy four-digit Bitcoin.

Related Reading | Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K 

During the last bull run, once Bitcoin broke back above its previous all-time high of $1,000, it never returned to three digits ever again. The last bull run also peaked at $20,000, making a break back above that even more likely to never revisit four digits.

Interest in the crypto market is clearly picking up, with the likes of Facebook bringing additional attention to the sector through its Libra crypto – both negative and positive. Bitcoin could very well go on another bull run, which would eclipse the previous bull run due to the increases support from major finance hubs, and added interest from institutions.

Featured image from Shutterstock 

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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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.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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