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: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US
  • 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: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US

Bitcoin At $20K Could Be ‘New Bottom,’ Commodity Expert Suggests, And Here’s Why

Christian Encila
Christian Encila
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.

Bitcoin has been increasingly in a shaky state and has dropped by as much as 50% compared to its previous all-time high. All eyes are on the crypto alpha dog, watching its next price movements. 

On the other hand, many market analysts believe that the drop in BTC trading value is a jumping board towards massive growth. 

As a matter of fact, Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, on his recent tweet, said that the crypto’s plunge is normal as the coin is still trying to get the hang of it as it faces a massive test.

Suggested Reading | ‘Original Bitcoin’ Makes Surprise 24% Climb As Crypto Markets See Red

Bitcoin Decline – An Unnecessary Evil?

McGlone posted via Twitter saying:

“$20,000 Bitcoin may be the new $5,000. The fundamental case of early days for the crypto’s adoption vs. diminishing supply may prevail as the price approaches too-cold levels. It makes sense that one of the best-performing assets in history would drop in 1H.”

McGlone has always been extremely bullish about BTC believing that the king of cryptocurrency will regain its dominion and power as the most important crypto investment. In fact, the senior commodity strategist believes that once the market has stabilized, Bitcoin is set to outperform all other crypto assets.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone. Image: Elevenews.

Further, the finance experts states that BTC can’t be classified as an asset but rather a collectible. McGlone firmly stands by his own price projection that Bitcoin will reach $100,000 by 2025 and its current dip or correction is attributed to the worsening inflation. 

The majority of crypto fund managers surveyed by financial services firm PWC believe that the price of bitcoin will be between $75,000 and $100,000 by the end of the year.

The data in the report comes from a survey of 77 crypto hedge fund managers conducted in April, PWC said, adding that their total assets under management for last year amounted to $4 billion.

While McGlone has maintained his bullish stance, other crypto market strategists like Peter Schiff believes otherwise. Schiff sees Bitcoin’s decline as it is and says that it’s the long-anticipated bubble burst that is bound to make the market bleed.

BTC total market cap at $415 billion on the daily chart | Source: TradingView.com

BTC Trying To Stay Above $20K Critical Line

Currently, BTC trades at $21,200 and trying to stay above and thriving beyond $20,000. The frontrunner in crypto has also led all other cryptocurrencies in shaving off as much as $360 billion in just one week. 

Bitcoin’s price seems to do a free-fall trajectory as it nears the critical $20K level. BTC is said to be technically oversold as it has recently breached the $30K support level and going down with increased momentum and two things are bound to happen: either Bitcoin pulls back and goes for a bullish run — or head further down or what analysts refer to as the “bottom accumulation phase.”

Suggested Reading | Ethereum Drops Below $950 On Uniswap Overnight – Here’s Why

Featured image from The Naked Scientists, chart from TradingView.com
Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

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 Price Wobbles

Bitcoin Price Wobbles — Is A Sharp Downside Move On The Horizon?

Bitcoin price is struggling to settle above $113,500 and $114,000. BTC is now consolidating and might start another decline below...

Aayush Jindal 3 hours ago
mid-october-market-rebound-whales-position-3-potential-100x-altcoins-tw

10月中市場回暖前下注焦點:崩盤後的巨鯨布局3大百倍山寨幣

在經歷短暫的市場崩盤後,加密貨幣市場再度出現資金回流跡象。根據多方鏈上數據顯示,被稱為「鯨魚」的大型投資者正趁著價格下跌重新建倉,將目光聚焦在具備技術優勢與市場敘事的新興項目上。 此次復甦的核心不僅在...

Peter Chow 4 hours ago
Elon Musk

Elon Musk Ends His Bitcoin Silence With A Surprising Comment

Elon Musk’s one-word reply on X has put Bitcoin back in the headlines, even if the comment was brief. His...

Christian Encila 4 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

cardano ada adausd

Cardano (ADA) Rebounds 2.2% to $0.70 as Whales Accumulate 200M Tokens Ahead of Berlin Summit

James Halver 1 hour ago
Ethereum

Ethereum High Timeframe Open Interest Breakdown Confirms Market Reset Phase — What This Means

Godspower Owie 2 hours ago
ethereum eth

Fidelity Buys $154.6M in Ethereum as Analysts Predict Move Toward New Highs Despite Outflows

James Halver 3 hours ago

Premium Sponsors

Press Releases

  • ChatGPT-5 predpovedá, že táto minca z teba môže urobiť milionára

    ChatGPT-5 predpovedá, že táto minca z teba môže...

    12 hours ago
  • ChatGPT-5 szerint ez az érme milliomost csinálhat belőled

    ChatGPT-5 szerint ez az érme milliomost csinálhat...

    13 hours ago
  • ChatGPT-5 předpovídá, že tato mince z vás může...

    13 hours ago
  • ChatGPT-5 przewiduje, że ta moneta może uczynić Cię milionerem

    ChatGPT-5 przewiduje, że ta moneta może uczynić Cię...

    14 hours ago
  • Why Meme Coins are the Best Bets in Q4

    Meme coin tiềm năng nên mua để đạt lợi nhuận...

    15 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.