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

Despite Bitcoin Surge Towards $10k, Analyst Thinks a Drop to $7k Is Possible

Nick Chong
Nick Chong
1 year ago
3 mins read
Bitcoin price

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.

It’s been an impressive past few days for the Bitcoin market. The leading cryptocurrency started the week at around $9,200, but now BTC trades at $9,700 after managing to benefit from a rally in the price of Ethereum.

With the recent price action, analysts argue that Bitcoin is primed to see an explosive move higher reminiscent of October 2019. But, not everyone is convinced that is the case.

Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH

Bitcoin Could Still Correct to the $7,000s, Analyst Says

Bob Loukas, an analyst that has been covering the Bitcoin price for years, is not 100% convinced the asset breaks higher from here.

Referencing the chart below, he said that the asset could still fall towards the $7,000s as BTC faces strong resistance overhead:

“Continue to believe in bullish accumulation #bitcoin. Timing ripe (new cycle) for significant move higher here. Cannot rule out another 40day consolidation though, which ends with sharp V pattern from $7k’s or a volatility surge. Sorry to those looking for exact prediction.”

Image

Analysis of Bitcoin's price action over the past year by analyst Bob Loukas (@BobLoukas on Twitter). Chart from TradingView.com

Loukas isn’t the only trader that believes a correction could transpire before Bitcoin breaks into a macro bull market.

A trader shared the chart below last week, arguing that Bitcoin will likely see “one last set of cycle lows” before moving to a new all-time high.

Image

Macro BTC analysis by trader “TraderXO” (@TraderX0X0) on Twitter). Chart from TradingView.com

The trader who predicted Bitcoin would bottom at $6,400 in 2019 also thinks that Bitcoin could move to the $6,000s and $7,000s once again.

Expansion Is Coming

Analysts are divided over how Bitcoin trends in the coming weeks, but most agree that the trading range will expand. That’s to say, a large number of analysts expect volatility to soon increase dramatically.

As NewsBTC has covered extensively over recent weeks, Bitcoin has effectively flatlined over recent weeks. Volatility indicators, such as the historical volatility index and the width of the Bollinger Bands, have reached multi-year lows in some instances.

Yet with the recent price action, there has been a growing expectation of an expansionary move that will establish Bitcoin’s medium-term trend. One trader commented on July 25th:

“Yellow dot on BTCUSD daily. Yellow dot implies that price is still in a squeeze (BB inside KC), but BB expanding, for a potential breakout. It’s not perfect (you can see a few yellow dots that didn’t break out). But on a longer timeframe, yellow dot generally gives good entry.”

How Bitcoin breaks out, as aforementioned, does remain to be seen.

Related Reading: On-Chain Metric Signals the Bitcoin Market Isn’t Overheated: Why This Is Bullish
Featured Image from DepositPhotos
Charts from TradingView.com
Price tags: xbtusd, btcusd, btcusdt
Despite Bitcoin Surge Towards $10k, Analyst Thinks a Drop to $7k Is Possible
Tweet123Share206ShareSend
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.

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

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

Ethereum continua a mostrare un movimento di prezzo limitato verso l’alto, nonostante i guadagni registrati la scorsa settimana. Negli ultimi...

clararosati 4 hours ago
Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 4 hours ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

Web3 gaming’s FUNToken emerges with strengthened fundamentals following smart contract lock implementation and CertiK audit clearance. Trading at $0.009894 as...

News BTC 5 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 price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Jake Simmons 3 minutes ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 3 hours ago
buy bitcoin Arthur Hayes

Buy Bitcoin Before Jackson Hole—Or Regret It Forever, Says Arthur Hayes

Jake Simmons 4 hours ago

Premium Sponsors

Press Releases

  • The smartest way to make money in 2025: Invest in cloud...

    1 hour ago
  • 仮想通貨プレセール注目|ビットコイン、2025年第3・第4四半期が最良期と予測

    ...

    1 hour ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    1 hour ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    1 hour ago
  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    3 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.