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 Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • 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 Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin Price Crash Fails to Cripple Retail Demand

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency, btc usd

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.

Bitcoin’s eccentric performance last week had it shed roughly $80 billion from its global market valuation. But investors are not giving up on the world’s first decentralized digital asset.

The bitcoin-to-dollar exchange rate rebounded by an astonishing 72 percent after bottoming out temporarily at $3,852. The pair traded near the $7,000-top early on Friday as it brought nearly $43 billion back into the system. While it corrected by circa $300 ahead of the New York morning bell, traders were already convinced about an extended price rally.

Scott Melker, a crypto trader with a huge social media following, looked through one of his technical charts to confirm a bull trend. The popular analyst projected the $6,000 price floor as an area where demand for bitcoin is typically up, stating that the cryptocurrency could jump above $8,000 if it manages to hold the said support.

$BTC

I would still love to see a retest of the 6K level as support. It would confirm the uptrend without leaving it behind to be tested further down the road. pic.twitter.com/AXSNmxAxXq

— The Wolf Of All Streets (@scottmelker) March 20, 2020

Outside the retail circles, institutional players too appeared persuaded about an extended bitcoin price rally. Naeem Aslam, the chief market analyst at AvaTrade, reiterated Mr. Melker’s technical stance in a note Friday morning, saying that bitcoin’s upward momentum could continue as long as its price stays above the $6,000 mark.

“And,” he added, “if the price crosses the 200-day moving average on a daily time frame, it would be a huge buy signal.”

Bitcoin’s jump above the long-term moving average in 2019 had led its price upward by circa 190 percent.

Safe Haven Narrative

Online exchanges, which allow traders to buy and sell bitcoin, logged a spike in daily trading volumes on Friday. According to data aggregator CryptoCompare, leading platforms including Coinbase, Binance, BitFinex, and BitStamp reported an average of 12 percent growth in their intraday trade traffic.

Executives associated with cryptocurrency firms pitted bitcoin’s volume and price growth as evidence that investors are considering it as safe-haven. Changpeng Zhao, the CEO/co-founder of Binance, retweeted a tweet that projected bitcoin’s bullish case against the central banks’ ongoing stimulus measures against the Coronavirus pandemic.

Federal Reserve just printed $700B

European Central Bank just printed €750B

Bank of England just printed £400B

Bank of Japan just printed ¥12T

People’s Bank of China just printed ¥550B

South Korea just printed ₩11.7T

This is why Bitcoin was created.

— Vis (@Vis_in_numeris) March 19, 2020

Bitcoin bulls believe that the central banks’ effort to tackle economic crises with additional fiat liquidity could drive money into the cryptocurrency market. They treat Gold – a traditional hedging asset – as their benchmark for Bitcoin, which they popularly call “digital gold.” Gold has proven to be a defacto post-crisis beneficiary. Therefore, bitcoin should follow suit.

Ryan Watkins of crypto data aggregator Messari noted that bitcoin “maybe” the only monetary asset in the world with a “credible assurance of an absolutely fixed supply.”

“In a world with zero percent interest rates, quantitative easing, and modern monetary theory this assurance may be more important than ever,” the researcher wrote.

Retail investors are not leaving the bitcoin market anytime soon, even as the Coronavirus pandemic shows no sign of stopping.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

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

LGNS Liquidity featured image

ORIGIN’s LGNS Token Shatters Records

ORIGIN, the trailblazing DeFi 3.0 platform backed by the Anubis Foundation, is rewriting the rules of decentralized finance and they’ve...

NewsBTC 5 hours ago

Blockchain.com Valuta la Quotazione in Borsa Tramite SPAC. Segnale Positivo per il Mercato Crypto? Di Seguito Le Migliori Crypto del Momento.

Fondata nel 2011, Blockchain.com è una delle piattaforme crypto più longeve, con servizi di wallet, trading e custodia per milioni...

Orfeo Barone 6 hours ago
Bitcoin Trapped On Binance: The Battle Between $107K and $119K Heats Up

Bitcoin Trapped On Binance: The Battle Between $107K and $119K Heats Up

Bitcoin is struggling to establish a clear direction as volatility tightens and traders face increasing uncertainty. After weeks of indecisive...

Sebastian Villafuerte 6 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

Analyst Predicts Dogecoin Price Is Headed To $3.25, Here’s When

Scott Matherson 1 hour ago
3 altcoins à acheter pour devenir millionnaire en 2026 — shortlist, critères et risques

3 altcoins à acheter pour devenir millionnaire en crypto en 2026

evanss 2 hours ago
Dogecoin news

Dogecoin Faces Final Boss At 0.886 Fib As Bulls Eye $0.25 Reclaim

Jake Simmons 4 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後の価格予測:12月に史上最高値の可能性、新興プレセール銘柄が注目を集める

    イーサリアム...

    7 hours ago
  • ビットコイン 今後:12億ドル規模のETF資金流出で10万7,000ドルのサポートが注目点に

    ビットコイン...

    7 hours ago
  • シバコイン 今後の価格予測:2025年強気相場に向けて再浮上の兆し、トークンバーンは上昇の鍵となるか

    シバコイン...

    7 hours ago
  • パイネットワーク価格予測:メインネットの噂で注目上昇、初期投資家に利益の可能性はあるか?

    ...

    8 hours ago
  • Have Dogecoin - Count It Toward Your Mortgag

    Có Dogecoin? Dùng để trả thế chấp – và lý do...

    8 hours 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.