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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Just Plunged to the $6,800s: 3 Reasons Why Price Could Bounce

Nick Chong
Nick Chong
1 year ago
2 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.

Unfortunately for Bitcoin bulls, the cryptocurrency market isn’t starting 2020 off on the right foot. According to data from CoinMarketCap, the price of BTC has fallen by 3.5% in the past 24 hours, tumbling below $7,000 to trade around $6,800 for the umpteenth time in a few weeks’ time.

This latest move to trade in the $6,800s is the second leg of a decline that began on Thursday morning, when Bitcoin suddenly lost the support of $7,000 after trading above that key level through Christmas and New Year’s Day.

Despite this bearish price action, analysts are convinced that BTC is ready to bounce.

Related Reading: Ethereum is In for a Big Drop, but the Rally That Follows Could Be Massive

Why Bitcoin Price May Soon See Strong Bounce

On Tuesday, prominent cryptocurrency trader Filb Filb published the below chart to his Telegram feed, showing that he expects for Bitcoin to retrace to see a wave correction to $6,777 in the week following the date of his prediction.

The chart notes that after that correction takes place, a nearly 15% bounce could be seen that will bring BTC back to the high-$7,000s by the middle of January.

Yes, Filb Filb’s timing on the move to the $6,800s is off per the chart.  However, the trader has been extremely accurate in calling the directionality of this market over recent months, calling the pop-up to $7,500 and the reversal just earlier this week. Also, Filb Filb called the move to the $6,000s in October, further adding credence to his latest forecast that Bitcoin is poised to bounce back to the $7,000s.

Secondly, the funding rate on BitMEX has begun to drift well into the negative (predicted funding is -0.0045% in ten hours), implying that a short squeeze could take place that will likely send Bitcoin back above $7,000.

And lastly, per previous reports from NewsBTC, Bitcoin’s hash rate — the measure of computational power processing BTC transactions — hit a new all-time high on the 1st day of 2020. The all-time high, 119 exahashes per second, or 119 with 18 zeroes after it.

This metric validates the idea that miner capitulation is over, and that now is a prime time to start accumulating the leading cryptocurrency before a recovery higher.

Related Reading: 2020 Will Be a Great Year for Bitcoin; These Factors Could Fuel an Insane Bull Run
Featured Image from Shutterstock
Tweet123Share227ShareSend
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

Bitcoin

Bitcoin Price Trajectory To $155,000: Why No Major Dips Are Expected From Here

The Bitcoin price is once again commanding the spotlight as bullish momentum propels the leading cryptocurrency to new all-time highs....

Scott Matherson 2 hours ago
portofel crypto multi-chain non-custodial

De ce ai nevoie de un portofel crypto de calitate?

De ani buni, portofelele crypto au devenit o componentă esențială pentru oricine explorează lumea DeFi a criptomonedelor. Astăzi, zeci de...

antonio 2 hours ago
Bitcoin

Bitcoin Ignites Intraday Optimism With A Step Past $119,000 Threshold

Shaco AI, in a fresh update, highlighted that Bitcoin is showing off its moves, dancing upwards past both the 25-hour...

Godspower Owie 3 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

비트코인 12만 돌파... 99비트코인 보고서가 짚은 '2025 상승장의 핵심 동력'

비트코인 11만 돌파… 99비트코인 2분기 보고서가 짚은 ‘2025 상승장의 핵심 동력’

Soyeon Lee 1 minute ago

From Token Chat to 10 Cents: How FUNToken’s Group-Driven Growth Is a Model for Web3 Community Building

News BTC 8 minutes ago
$30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early?

$30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early?

Sebastian Villafuerte 47 minutes ago

Premium Sponsors

Press Releases

  • 新BTCレイヤー2プロジェクト、仮想通貨プレセールで250万ドルを調達 — 今買うべき暗号資産とは?

    ...

    56 minutes ago
  • BTC breaks through $122,300, GoldenMining users earn...

    57 minutes ago
  • 仮想通貨 おすすめ|0.0015ドル以下の安価トークンがDOGEを上回り、4ヶ月で0.30ドル到達へ

    仮想通貨...

    1 hour ago
  • 2 criptomonede accesibile cu potențial de 9.000%, asemănătoare cu achiziția Ethereum la 35 lei în 2017

    2 criptomonede accesibile cu potențial de 9.000%...

    1 hour ago
  • ビットコイン120,000ドル突破、恐怖と欲望指数74:新しい仮想通貨がBTCの急騰を後押しする可能性

    ...

    2 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.