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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • 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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Scarily Accurate Analyst Gives 4 Reasons Why Bitcoin Price Won’t Crash at $8,500

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.

Once Bitcoin (BTC) started to incur strong losses in the second half of 2019, analysts were once again making extremely low price predictions.

Per previous reports from NewsBTC, long-time Bitcoin skeptic and CEO of Euro Pacific Capital Peter Schiff said in a tweet that the price of the leading cryptocurrency could “dump” to $1,000 to complete a chart pattern.

Related Reading: XRP Analyst Suggests IPO Could Be Game-Changing for Ripple: Here’s How

And even recently, despite the price of digital assets rallying by dozens of percent since the December bottom, a number of traders have asserted that a $3,000 Bitcoin price is in the books.

But, according to a prominent crypto analyst who called BTC’s decline to the $6,000s, the idea that BTC is extremely bearish right now is somewhat irrational.

4 Reasons Why Bitcoin Price Unlikely to Crash Right Now

Legendary analyst Dave the Wave recently laid out four reasons why he is “surprised at the bearish sentiment” he is seeing on Crypto Twitter:

  • In the past 12 months, since the end of January of 2019, the price of the leading cryptocurrency has surged by 160% — this is a performance that effectively outpaces all other crypto assets, stocks, and commodities.
  • BTC has seen a “solid retracement as long as the parabolic spike up, which has held the 0.5 Fibonacci Retracement of the entire move, suggesting bulls remain in control.
  • Bitcoin has just broken “out of a long downward trend line.”
  • Prices have recently posted a higher high.

Bit surprised at the amount of bearish sentiment I'm seeing on CT [not really as a contrarian]. A recap of this year –

– price up 160%
– solid retracement as long as the parabolic spike up
– break out of the long downward trend line
– higher high
– looking for higher low pic.twitter.com/Gev1iaAi6N

— dave the wave🌊🌓 (@davthewave) January 26, 2020

Long-Term Bottom Signals Continue to Flash

Dave isn’t the only analyst expecting for Bitcoin to start to form an uptrend once again.

Willy Woo — partner at Bitcoin fund Adaptive Capital — said in December that per his analysis of on-chain data, he believes the macro price bottom was established in the low-$6,000s. Woo did say, however, that there is an opportunity for a drop below that bottom, but noted that it would just be a blip in the grand scheme of things.

Related Reading: Crypto Tidbits: Elon Musk Talks Bitcoin, Ripple IPO Coming, Facebook’s Blockchain Loses Another Member

Also, analyst Cryptokea recently noted that the worldwide Google Trends, well, trends for the search term “Buy Bitcoin” have recently hit a seven-month high — the highest since June 2019 — at “10.”

1/ Googling for "Buy Bitcoin" just reached a 7 months high (Score 9). The long-term upwards trend is undeniable. The last time the score reached a 10 was:
Nov '13 (bull top),
May '17 (price on parabolic run-up),
Jun '19 (medium-term top)
>Feb '20 (price on parabolic run-up?) pic.twitter.com/tkdXIEvM3Q

— CryptoKea (@CryptoKea) January 20, 2020

The latest Google Trends “10,” Kea said, likely marks the start of a parabolic run-up that will bring prices much higher than the $14,000 high.

He added that the “long-term upwards trend” for this metric, which is correlated with growth in the price of Bitcoin, is “undeniable,” pointing to a logarithmic corridor confirming that over time, more and more people want to buy the cryptocurrency.

Featured Image from Shutterstock
Tweet123Share226ShareSend
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

TOKEN6900已募資突破53萬美元 達成硬頂10%

當你把毫無計畫、類似邪教的追隨者,以及加密貨幣混在一起會發生什麼? 令人滿意的是,僅用了兩周,你就能看到超過 53萬美元 的融資成果。 但如果你以為 TOKEN6900(T6900) 的崛起歸功於某個...

estherw 2 hours ago
Bitcoin

If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says

Bitcoin climbed past $122,000 this week, marking its fourth straight month of gains. It even touched $123,000 Monday before dipping...

Christian Encila 2 hours ago
Bitcoin

This Analyst Predicted Bitcoin’s Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast

A crypto analyst who accurately predicted the Bitcoin (BTC) price surge to $120,000 months ago has returned with a bold...

Scott Matherson 3 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 Price Attempts a Comeback

Bitcoin Price Dips — Is This the Calm Before the Surge or the Storm?

Aayush Jindal 18 minutes ago
On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

Samuel Edyme 50 minutes ago

Google AI預測2025年山寨幣千倍幣:XRP、Pi幣與Snorter強勢爆發

Mark Mak 2 hours ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    6 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    12 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    12 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    12 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    13 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.