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

2 Key Reasons Why Bitcoin Could Soon Crash 30% to Fall Under $6,000

Nick Chong
Nick Chong
1 year ago
3 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.

Since topping at $10,500 two weeks ago, Bitcoin hasn’t fared well. The price of the leading cryptocurrency has fallen off a proverbial cliff, falling as low as $8,520 in the past 24 hours on the back of millions in liquidations, marking a drop of 19% since the aforementioned top.

With this move, Bitcoin has found itself forming a downtrend. Although there are some sure that a bounce is imminent, citing the asset’s ability to bounce off crucial technical support at the 200-day exponential moving average, two analysts are warning of a deeper retracement that may take BTC below the $6,000s.

Bitcoin Could Plunge Under $6,000, Analysts Warn

The first analyst on Wednesday shared the below chart, showing that there are clear similarities between Bitcoin’s price action in the 2013-2015 bubble and the price action over the past year; both periods saw a vertical run-up into a blow-off top, a death cross after the price started retracing, and a subsequent golden cross when the price started to show signs of a recovery.

Bitcoin following the trail blazed by its historical price action in 2014 and 2015, which is possible due to the similarities of the 50-day and 200-day moving averages, will see it fall in the coming months to fresh lows under $6,000s.

This isn’t the only factor that has analysts worried the seeming long-term bottom established in December 2019 might be a false bottom.

Per previous reports from NewsBTC, Mac, a prominent crypto trader, mused that the market structure on BitMEX suggests that “$6k might not have been the bottom after all”:

“Legit boys, $6k might not have been the bottom after all. This OI, Basis, Funding is worse than Oct 2018,” he bearishly noted.

He was referring to the fact that these three metrics suggests bulls are still overleveraged, which means that to equalize the market, Bitcoin will need to fall a lot further than where it is currently trading at.

Bearish Sentiment Might Be a Sign of A Bottom

While there exist these analyses, some have said the overly bearish calls that have been posited by traders suggest a near-term bottom is imminent. This is in reference to the somewhat unorthodox market trick that suggests buyers should be optimistic when the majority is overly bearish, and vice-versa. As said by (Bitcoin skeptic) Warren Buffett:

“[Be] fearful when others are greedy and greedy when others are fearful.”

This has proven to be a prudent investment strategy in the past: in late-2018, when BTC was trading at $3,200, many analysts were expecting for the cryptocurrency to unravel to the $2,000s, with one trader even suggesting a price of $800. But, Bitcoin reversed after bottoming in that region, shooting past $4,000 by April, then up and up and up.

Also, the $20,000 peak seen in December 2017 was marked by a mania of buying pressure from the world’s investors, who thought Bitcoin would surge higher and higher without abating. Of course, the rug underneath the investors was pulled by whales, resulting in the subsequent crash.

Featured Image from Shutterstock
Tweet123Share210ShareSend
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

BTC, Bitcoin

Bitcoin Near Historic Weekly Close Despite Drop – Analyst Warns Of Volatile Weekend

As the market sees a Friday retrace, Bitcoin (BTC) is attempting to reclaim a crucial area as support. An analyst...

Rubmar Garcia 3 hours ago
ethereum

Ethereum Approaches Wyckoff ‘Liftoff’ Phase – Can ETH Reach A New High?

Ethereum (ETH) is up 4.2% over the past seven days, trading in the mid-$2,500 range at the time of writing....

Ash Tiwari 5 hours ago
Giełda krypto Bitunix laptop interfejs

Giełda Bitunix integruje TradingView. Nowy lider na rynku krypto?

Rynek kryptowalut zmienia się w zawrotnym tempie. W środowisku, gdzie czas to pieniądz, niezbędna staje się platforma, która nie tylko...

News BTC 7 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

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Sebastian Villafuerte 46 minutes ago

比特幣ETF年化收益超越標普500 7月最值得買入預售項目錯過升10倍肯定後悔 

Kelvin Lee 47 minutes ago
Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction

Ethereum Wave Count Predicts Price Crash To $1,800 — But $6,000 Is Still In Play

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 hour ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    2 hours ago
  • 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

    ...

    19 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

    ...

    19 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?

    ...

    19 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.