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

Data: Bitcoin Is In Accumulation, and That Means $10k Could Soon Break

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
bitcoin btcusd btcust xbt xbtusd crypto

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 price continues to trade sideways for several weeks now, bringing the asset’s notorious volatility to a chilling halt. This type of price action often indicates accumulation, which typically takes place at lower prices.

Additional data reflecting crypto exchange BTC balance also suggests that accumulation is taking place, all while Bitcoin trades just below $10,000. If this really is an accumulation phase, what comes next for the first-ever cryptocurrency?

Is The Next Cryptocurrency Bull Market Upon Us?

The leading cryptocurrency by market cap appears to be at an impasse. The asset’s halving is long behind us, yet no new bull market is here as many had claimed.

The longer it takes for the cryptocurrency to surge, the more naysayers come out of the woodwork to bash valuation models such as stock-to-flow, and others.

Bitcoin price predictions range from zero to over $1 million per BTC eventually. The ultra-scarce digital asset could someday replace all of the world’s fiat money, or it could fizzle out completely. There is little room for in-between scenarios.

Related Reading | Bitcoin’s Perfect Storm On The Horizon As Analyst Calls For ‘Inevitable’ Dollar Collapse

The asset has been in a long-term uptrend and secular bull market, with few downtrends in between. The cryptocurrency is now at that critical moment where either a new bull market is set to begin, or a deeper fall into the depths of the ongoing bear market could be next.

Bitcoin has thus far been unable to break above $10,000 and remains that way even today. But the major difference between now and then, is that data suggests this latest visit to $10,000, is an accumulation phase and not distribution.

Data Signals Bitcoin Accumulation Phase Despite Prices Near $10,000

According to Wyckoff theory, markets go through four distinct phases: accumulation, mark up, distribution, and markdown. Investors accumulate large holdings of assets at lows, then prices surge during the markup phase. That’s when the early investors begin to distribute their assets, taking profit, and starting a markdown phase. The cycle then repeats all over again.

Due to Bitcoin’s hard-coded digital scarcity, when and at what price the asset is accumulated at may be drastically different than other assets.

Bitcoin was accumulated full force when the asset fell to $3,200 in December 2018. Then prices were marked up, and distribution took place all throughout the second half of 2019.

Distribution also took place each time Bitcoin price reached $10,000 or more. But now, the key price level could be where accumulation is unfolding.

We are in the #BTC accumulation phase.

The 30- and 90-day moving average gap of all exchanges' reserve represents the downside risk. It hit a record low in May this year and is still below zero. pic.twitter.com/IsljYG6h0Z

— Ki Young Ju (@ki_young_ju) July 13, 2020

New data depicting the 30- and 90-day moving average “gap of all exchanges’ reserve” BTC, shows that the Black Thursday collapse sent Bitcoin reserves to a record low. Reaching such lows historically has acted as a powerful buy signal.

Related Reading | Bitcoin Closing Above This Level Triggers The Most Profitable Buy Signal Ever

Zooming out further reveals that each time the moving average of exchange reserve BTC supply, Bitcoin went on a powerful rally shortly thereafter.

bitcoin btcusd

Source: CryptoQuant

The metrics indicate that Bitcoin is being accumulated full bore, much like it was when the asset fell to its bear market low at $3,200. That low may have been the point of maximum financial return during this bear and bull cycle.

The next stop could be a new record peak in BTCUSD before the entire cycle repeats all over again.

Tweet123Share196ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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

Dogecoin

Dogecoin Ready To Bark Again? Analyst Sees Path To $0.45

An analyst has pointed out how Dogecoin could see a rally to $0.36 or even $0.45 if its price can...

Keshav Verma 4 hours ago
Bitcoin

Countdown To ‘Bitcoin Bottom Day’: Why September 21 Could Change Everything

Bitcoin (BTC), the leading cryptocurrency, has experienced a notable decline, erasing the gains it achieved following the recent decision by...

Ronaldo Marquez 5 hours ago

Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test

Earlier this week, the US Federal Reserve (Fed) cut interest rates by 25 basis points, providing the much-required impetus to...

Ash Tiwari 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

Ethereum

Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy

Christian Encila 14 minutes ago

Analyst Says XRP Price Not Reaching $10+ Due To Market Cap Is Irrelevant

Scott Matherson 1 hour ago
Cardano, ADA, Charles Hoskinson

ADA Holds $0.90 Support As Hoskinson Says Cardano Will ‘Break The Internet’

Rubmar Garcia 3 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後 の価格予測:ETF発足で新たな成長ステージへ

    ドージコイン 今後...

    19 hours ago
  • リップル 今後の価格予測:現物ETF効果で4ドル到達を狙うXRP

    リップル...

    19 hours ago
  • 仮想通貨プレセール:専門家が次の有望ミームコイン候補を予測

    ...

    19 hours ago
  • 仮想通貨おすすめ:次のブルランでシバイヌを超える成長候補の4トークン

    ...

    19 hours ago
  • 新しい仮想通貨トレーディングボット、エコシステム大型アップグレード前にICOで400万ドル突破目前

    ...

    20 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.