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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Weekly BTC Gains Wiped Out, Has Bitcoin’s Big Dump Just Begun?

Martin Young
Martin Young
5 years ago
2 mins read
bitcoin

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.

The signals have all been pointing to a large downwards move for Bitcoin and it may have just initiated as BTC drops below $8k yet again. Could this be the move that spells the return of the bear market and crypto winter, or will Bitcoin cling to support for another day?

Bitcoin Back in The $7k Range

Within the past hour Bitcoin has fallen back below $8,000 for the fifth time this month. According to Tradingview.com BTC began its slide in late US trading yesterday and continued into the Asian session this morning. It bottomed out at just above $7,900 and appears to be holding just above that at the time of writing.

bitcoin
BTC prices hourly – Tradingview.com

The bearish signals have been mounting up as the month long consolidation period has drawn out. A big move has been expected as one usually follows the accumulation of these signals.

As trader and analyst Josh Rager pointed out, historical volatility is descending to levels that would indicate a breakout.

“With a slow sideways market, we’ll see descending HV that indicates a strong reaction in price action ahead and rise in volatility”

Yesterday the popular analyst observed a Bollinger band squeeze which has also led to breakouts historically. He added that with price still below the 20 day moving average a downwards move has higher probability.

Then there is the death cross on the daily chart which is about to form as the 50 day moving average falls below the slow 200 day. This one is more ominous as it spells a long term trend reversal which could be the end of this year’s rally and the return of crypto winter.

That cross is likely to occur today or tomorrow if there is no upside momentum.

Crypto Market Cap About to Crumble

Altcoins clearly have not been able to decouple from Bitcoin as it has corrected 42% from its peak this year. There has been no altseason and a sea of red is engulfing them all again today.

The ‘Trading Room’ crypto twitter account has identified a trendline for total market cap that if broken could result in a massive dump below $200 billion.

“This one Trendline is holding the entire Market’s fortune for next few weeks.”

Closing all open Positions and staying flat until i see a clear bounce from this trendline. Will open SHORTS if the Treandline breaks down

This one Trendline is holding the entire Market's fortune for next few weeks. Keep an eye#Bitcoin $BTC $Total MarketCap pic.twitter.com/0x1GYiLQNA

— Trading Room (@tradingroomapp) October 23, 2019

After today’s losses total market cap is currently at $217 billion having dumped $7 billion on the day. It has not fallen below $200 billion since early May when things were clearly bullish for Bitcoin and its brethren.

All altcoins are dumping today with Ethereum plunging below $170 in a 4% slide and XRP dropping back below $0.29 as momentum wanes.

Bigger losses of over 5% are going on at Bitcoin Cash, BSV, Tron, Cardano, Chainlink and Tezos. If altcoins are losing this much before BTC drops below support, they will get obliterated when the big dump finally occurs.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

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

Bitunix bonus krypto giełda promocja USDT

Бонусная программа Bitunix: как зарабатывать на криптовалютах с максимумом прибыли в 2025?

Bitunix – инновационная платформа для профессионального деривативного трейдинга. Она представляет собой современную торговую платформу, объединяющую широкий арсенал инструментов с продуманной...

lisachaikina 6 hours ago
Bitcoin

Bitcoin Price To See 52% Increase To $166,000, Analyst Reveals Tight Timeline

Bitcoin has been gaining strength over the past several days, with price action relaying the buying interest from institutional players....

Scott Matherson 7 hours ago
Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Ethereum is trading above the $2,500 mark but continues to struggle with strong resistance near $2,600, a key level that...

Sebastian Villafuerte 9 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

Giełda krypto Bitunix laptop interfejs

Giełda Bitunix integruje TradingView. Nowy lider na rynku krypto?

News BTC 2 hours ago
Whales Are Loading Up on Chainlink (LINK), But Retail Investors Are Still Missing the Signal

Whales Are Loading Up on Chainlink (LINK), But Retail Investors Are Still Missing the Signal

Samuel Edyme 2 hours ago
Ethereum

Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

Scott Matherson 4 hours ago

Premium Sponsors

Press Releases

  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    13 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    14 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    14 hours ago
  • 仮想通貨おすすめ|米下院が大型法案可決、7月4日にビットコインが急騰

    ...

    14 hours ago
  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.