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

Analysis: Bitcoin Could be Headed to $1,000 Amid Unexpected Liquidity Crisis

Samuel Wan
Samuel Wan
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.

Since Black Thursday, which saw Bitcoin bottom at $4.6k on the day, the number one cryptocurrency has since been range-bound with strong resistance at the $6.8k level.

Although it’s been able to post definite gains since that recent low, some analysts expect to see a further breakdown as the knock-on effects of the pandemic wreak havoc on the global economy.

Bitcoin Under Pressure in the Near Term From Wider Economic Factors

At present, Bitcoin is trading at $6.3k, having posted a 2% loss over the last 24-hours. It’s much the same with the rest of the high-caps, with only Ether and XRP posting minute gains.

Over the last three weeks, Bitcoin has faced strong resistance at $6.8k. With rejections on four separate occasions occurring at this level.

Bitcoin daily chart
Bitcoin daily chart with 50-day and 200-day MA. (Source: tradingview.com)

On top of which, the coming months look extremely bearish for Bitcoin. That’s according to Intuit Trading, whose Elliot Wave analysis shows we are currently in a downswing during the corrective (lettered) phase.

This puts BTC at a deep retracement on the wave-c leg, with £1k incoming by late November.

Bitcoin Elliot Wave Analysis
Image from Intuit Trading

Intuit Trading attributes this scenario to worsening economic conditions. Whereby the crisis deepens, and more people lose jobs, and asset valuations continue to tumble, meaning the flight to cash will accelerate.

“This includes people who hold cryptocurrencies. Crypto is not immune to a liquidity crisis… until liquidity comes back into the market en mass, BTC will likely head towards $1000 by November.”

Is This Game Over For BTC?

Despite that, it’s important to note that Intuit Trading is still long term bullish for the future of Bitcoin. Indeed, based on the above scenario playing out, post-2022 is expected to be a strong bull run period.

“This is by no means a death sentence for BTC or cryptocurrency and will simply be the largest correction ever experienced.

On top of this, the recent stimulus-response may well be another critical factor in favor of Bitcoin in the long term.

Recent actions by governments and central banks have seen unprecedented levels of stimulus implemented. Sadly, mainstream media outlets continue to skip over the implications of injecting trillions of dollars into the global economy.

But one figure, who’s unafraid to speak his mind, is John McAfee. He took to Twitter recently to share his crypto prediction by saying the stimulus-response will cause hyperinflation. Which, in turn, will benefit cryptocurrency, in particular privacy coins, as people scramble to safe havens.

https://twitter.com/officialmcafee/status/1244656080438923264

And while Bitcoin has been in the firing line of late, it’s important to note that these are extraordinary times. That being said, the central banks have played their hand, it’s now a question of whether Bitcoin and other cryptocurrencies, can live up to their fundamentals in the long term.

Tweet123Share225ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

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 Must Hold $106,000 And $98,000 To Avoid Breakdown

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July....

Scott Matherson 9 hours ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Bitcoin’s climb past $110,000 this week has reignited a fresh round of bullish calls. Prices hit $110,150 on July 3...

Christian Encila 10 hours ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Bitcoin (BTC) prices showed a sideways movement in the past day producing no significant changes. Following the recent rejection at...

Semilore Faleti 12 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

Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

Opeyemi Sule 4 hours ago
Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Christian Encila 6 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Opeyemi Sule 7 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    5 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    6 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    21 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day 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.