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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • 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: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Statistics: Bitcoin Will Tumble to $6,000, Maybe Lower, If Bears Take Control Now

Nick Chong
Nick Chong
1 year ago
3 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.

Despite the tepid price action over the past two days, Bitcoin has been on a remarkable rally over the past five weeks.

As this outlet reported recently, the cryptocurrency has done so well that as of Monday morning, BTC had printed five — yes, five — green weekly candles in a row for the first time since 2019’s small bull run, as analyst JofDom noted. The candles represent a rally of nearly 100%.

This is a stunning rally that has had analysts wanting more upside. For instance, a trader published the below chart, showing that there are remarkable similarities between the bottom that transpired in December 2019 to January 2020 and now. He went as far as to suggest that should history repeat itself, $9,500 is imminent.

Bitcoin BTC

The thing is, it’s well too early to tell if this trend will be followed.

Already two days into the week, Bitcoin is lower than the weekend highs and the weekly close, which may result in the first red weekly candle in over a month. And statistics show that if bears continue to assert control, BTC is about to tumble even lower.

Statistics: Bitcoin Could Tank In Coming Days

Crypto statistician JofDom noted that each time Bitcoin has ended a five-week winning streak, it has been marked by a strong move lower of an average of -11.69%, with a minimum move of -1.23% and a maximum move of -27.11%.

This would suggest that should Bitcoin bears manage to end the bull streak, the cryptocurrency is statistically likely to fall to $6,200, 12% lower than the weekly open, which would be in line with JofDom’s data. The data also suggests that an even greater reversion lower is possible, but not as likely.

 

It’s important to note that the bearish scenario is not confirmed. While Bitcoin has slid 4% since the weekly open, the statistician confirmed that only 50% of the time over history did BTC fail to print a sixth weekly candle in the row that was green.

That 50% is not great odds, to say the least, but it is workable for bulls.

Related Reading: Last Time This Trend Transpired, Bitcoin Rallied 2,700%. It’s Back Yet Again

Stock Crash Could Cement Bear Case

With stocks reversing from their 30% bull rally, however, it seems the bear case is about to be cemented.

After reaching just under 2,900 points late last week, the S&P 500 has started to reverse, with futures falling to 2,770 as the effects of a negative oil price reverberate around global markets.

Bitcoin could easily be hurt by such a reversal in the stock market if it continues. 

In a note published last week on April 15th, the Federal Reserve Bank of Kansas City claimed that Bitcoin is decisively not a safe haven, noting that the asset has acted more like a risk asset than digital gold.

The central bank branch cited Bloomberg data, which shows that Bitcoin, during periods of “stress,” shows that Bitcoin operates with a positive correlation to the S&P 500 index to a level “significant at the 5% level.”

This research would suggest that should the stock market and other markets sell-off once again, BTC and the rest of the cryptocurrency market won’t be spared.

Related Reading: This One Financial Trend Will Make Bitcoin Succeed: Billionaire
Photo by Karl Lee on Unsplash
Tweet123Share213ShareSend
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 aproape de 120.000$ – vine un nou ATH?

După ultimul ATH de la mijloc de august, când Bitcoin a atins 124.500$, a urmat o corecție ce a venit...

antonio 10 hours ago
Ethereum

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Ethereum remains one of the most controversial tokens in the present market cycle, considering its status as the second-largest cryptocurrency...

Semilore Faleti 13 hours ago
altcoins, bull run, altseason, trump crypto, crypto verwachting

Altcoins trekken miljarden na Fed cuts – altseason staat voor de deur

Nu bekend werd gemaakt dat de Federal Reserve renteverlagingen door gaat voeren, vonden er een aantal interessante ontwikkelingen plaats binnen...

Lars Diederiksen 13 minutes 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 Price On The Verge Of Explosive Move: Here’s The Only Condition

Opeyemi Sule 5 hours ago
Ethereum

BlackRock Leads Spot ETH ETF Inflows With Over $500M, Ethereum Possibly On Track To $5,000

Scott Matherson 7 hours ago
Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

Opeyemi Sule 9 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    2 days ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    2 days ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    2 days 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.