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: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • 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: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

If $7,700 Holds, Bitcoin Price Could Soon Surge by 20%

Nick Chong
Nick Chong
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.

On Saturday evening, the Bitcoin price started to show hints of weakness after a short bout of consolidation. As of the time of writing this, the leading cryptocurrency has dipped to $8,300 — a level which analyst Josh Rager has indicated as key for BTC to hold in order to maintain a formation of consecutively higher lows.

Although there are some expecting for Bitcoin to soon break under $8,300, potentially to establish new multi-month lows under $7,000, an argument has been posed that as long as $7,700 holds, $10,000 is within BTC’s grasp.

Related Reading: Buterin in ‘Beast Mode’ as Work on Ethereum 2.0 Continues

Bitcoin Price Ready to Retake $10,000?

Josh Olszewicz, Brave New Coin analyst, recently took to Twitter to lay out Bitcoin’s current chart structure, posing the question if BTC will hit $5,000 or $10,000 to his followers. He observed a confluence of both bullish and bearish factors, seemingly hinting that the market is undecided about where it should head next.

Due to this, Olszewicz was asked by a follower if he is leaning long or short. Despite a few harrowing signs — namely Bitcoin being rejected by the 200-day exponential moving average and the Aligator indicator trending neutral/bearish — the analyst quipped that he expects for Bitcoin to rally by some 20% to $10,000 “as long as $7,700 holds.”

10k as long as 7.7 holds

if 7.7 doesnt hold it's gunna get ugly

sideways for another week would be good here imo

— #333kByJuly2025 (@CarpeNoctom) October 11, 2019

While Olszewicz’s opinion may sound too optimistic to some cynical analysts, there are other tidbits of technical evidence to suggest that Bitcoin soon starts to move back to five-digit territory.

Related Reading: Analysts Expect Altcoins to Outperform as Bitcoin Price Stagnates

Bitcoin’s one-day Moving Average Convergence Divergence (MACD), a lagging indicator that tracks market trends and momentum,  has crossed into the green after a precipitous drop to the most oversold levels since the December crash.

An analyst noted in reference to this technical indicator that bullish MACD crosses “always were followed by price rises [previously],” before adding that Bitcoin has the potential to reach $12,000 by November.

Also, Santiment found that Bitcoin’s social volume [has] continu[ed] its quiet decline after hitting a recent two-year low.” Indeed, BitInfo recently noted that the use of the “Bitcoin” hashtag fell to a three-year low after peaking earlier this year during the pseudo-bull run in May/June.

#Bitcoin $BTC's social volume continues its quiet decline after hitting its recent 2-year low. Historically, low social volume has preceded large price upswings and bull runs, and high social volume has been fairly reliable as a top indicator. https://t.co/4kl8hsb9Pk pic.twitter.com/z84qpJpk79

— Santiment (@santimentfeed) October 8, 2019

While many see this as a sign that Bitcoin will only fall further, even further than 40% from the year-to-date top of $14,000, Santiment argues that this can be interpreted as bullish. They wrote that historically, “low social volume has preceded large price upswings and bull runs, and high social volume has been [a] fairly reliable top indicator.”

Featured Image from Shutterstock
Tweet123Share196ShareSend
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

XRP

Analyst Predicts XRP Price Will Definitely Reach $10,000, Gives Reasons Why

Crypto analyst Xena has declared that the XRP price will definitely reach $10,000. The analyst further gave reasons why she...

Scott Matherson 3 hours ago
Bitcoin

Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

The cryptocurrency market began the week with a notable downturn, as total sector capitalization dipped toward $3.8 trillion. Bitcoin (BTC),...

Ronaldo Marquez 3 hours ago
crypto

More Than 6 In 10 Use Crypto For Passive Income, 46% To Beat Inflation – Study

According to MEXC’s H1 2025 user survey, nearly half of users now say they turned to crypto to protect against...

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

Bitcoin

Bitcoin Falls Below $113,000, But This Indicator Says It’s Time To Buy

Keshav Verma 15 minutes ago
Dogecoin

Dogecoin Remains In The Green As This Historic Indicator Still Points To Gains

Godspower Owie 1 hour ago
Bitcoin

Metaplanet Snaps Up 5,419 BTC, Becomes 5th Largest Corporate Holder

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    4 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    5 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    5 hours ago
  • 5 монети, които биха могли да...

    6 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    7 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.