Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
CLOSE

Analysis

Market Continues Sell-Off: Could Bitcoin (BTC) Form A Yearly Low Soon?

Published

on

In another series of sell-offs, the Bitcoin news today show the most dominant cryptocurrency falling (again) by 10% and reaching $3,687 at press time. Given that the drop was kind of unexpected and fast, analysts are now questioning if the series of drops on the market could translate to a new yearly low.

As a reminder, Bitcoin established a yearly low for 2019 somewhere around $3,122 (December 15th, 2018). If the price of BTC drops one or a couple more times and falls below $3,122, we will see a low that we haven’t since 2017.

The intense sell-off led the Bitcoin price to drop further. According to the prominent analyst and trader Alex Kruger and his latest Twitter statement:

“What a majestic dump. BTC back to my buying area of 3500-3600. Below $3,300 exit and reassess. I’d like to see BTC ending the day above $3,700. Consolidation below $3,600 (bottom of prior area) would tilt the balance towards further downside.”

“The Crypto Dog” was also viral with his statement about the new lows for Bitcoin. As he tweeted:

“Not setting heavy bids but I would like to see BTC at $3,400 and ETH at $115. No reaction there and I think new lows are on the table. Nothing to stress about, all par for the course, cycles matter, long Bitcoin (without leverage) and continue shorting the banks they’re REKT.”

Cryptocurrencies with lower market caps have recorded substantially larger drops than BTC and ETH throughout the past week. For example, Cardano (ADA), Stratis (STRAT), ICON (ICX) and Bitcoin Cash (BCH) have all fallen by more than 10%, with Cardano recording the biggest low of 19% on the day.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments
Advertisement

Analysis

Bitcoin Goes Below And Above $4,000 Again: What’s Causing This Fluctuation?

The latest Bitcoin news show that Bitcoin (BTC) is now under the $4,000 threshold, disappointing many after its bullish run which triggered many other altcoins to surge. The price of BTC traded to a new weekly high above $4,060 before falling sharply against the US Dollar and going below $4,000. Currently, the trend is affecting every altcoin too. Ever since the price broke the key $3,960 support level and tested the $4,000 support levels, Bitcoin looked good - but things changed and a short-term bearish trend line formed with a resistance near $4,015 on the hourly chard of the BTC/USD pair. According to analysts, it was the next key support for Bitcoin at $3,875 that prevented further declines. After a swing low was formed at $3,872 - the price bounced back sharply. The 23.6% Fibonacci retracement level fell from $4,065 to $3,872 and BTC rebounded above the $3,950 resistance level. At the moment, Bitcoin has managed to go over $4,000 again - but is very unstable. The current price that BTC is holding onto is $4,034. The main resistance is now near $4,000 and the 61.8% Fibonacci retracement level proves this instability. Looking at the chart, Buyers might now find it difficult to gain strength above the $4,000 and $4,020 levels . If there are hurdles in the future, there could definitely be another bearish reaction that could move Bitcoin back to the $3,900 waters. The current technical indicators are as following:
  • Hourly MACD – The MACD is slowly moving in the bullish zone, with a positive bias.
  • Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting higher, but it is still well below the 50 level.
  • Major Support Levels – $3,950 followed by $3,920.
  • Major Resistance Levels – $4,000, $4,020 and $4,060
According to a prominent analyst, Bitcoin has a massive potential to surge significantly higher, even to $400k in the future. Naeem Aslam, who is a popular crypto trader, has yesterday explained that the lack of buying pressure above $4,000 is likely to lead BTC to a price of $3,500 which may be reached soon if the bulls are unable to keep BTC stable above $4,000. It seems like Rager is right. However, his more controversial statement was aimed at Bitcoin's future and the $400k price level which according to him, is definitely manageable in the future - and is not a "fool's paradise" as he stated.
`
Continue Reading

Analysis

Bitcoin (BTC) Is Likely To Surge To $400k, According To Prominent Analyst

The recent price action of Bitcoin is confusing many. As the latest crypto news show, Bitcoin (BTC) is up and down on the $4,000 level, not establishing a safe ground but still being stable in the $4,000 waters. What no one can tell is if this rollercoaster is going to end or if the market will finally get in a bullish scenario. However, according to recent comments from one prominent analyst, Bitcoin's price potential is beyond awesome - and BTC has to surge significantly higher in order to reassure embattled crypto investors who have been discouraged by the recent market conditions. Josh Rager is the name of the popular cryptocurrency trader who made the news recently. In times when Bitcoin is fluctuating above and below the $4,000 mark - he believes that it is the bulls that need to maintain BTC's stability above $4,000.
“$BTC Weekly Chart. Gandalf is holding $BTC below the mid $4,200 level. Bitcoin shall not pass the current resistance. So my target for the next drop has an aim at previous support near mid $3,500s,” he explained.
https://twitter.com/Josh_Rager/status/1108205671659569152 Another chief market analyst at Think Markets UK named Naeem Aslam, also spoke about the key importance of the $4,000 level, noting that it will set a trend for which direction the markets could head next. As he said:
“Questions are being asked constantly when it comes to Bitcoin’s battle with the $4000 mark. The result of this battle sets the tone for a bullish or bearish trend. This price level has become a matter of death or life for crypto traders.”
Aslam also believes that Bitcoin could eventually surge as high as $400k, even though the current price indicators don't show that. He explained:
“I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.”
Another popular figure in the crypto industry named Ryan Selkis, spoke about the absurdity of purchasing a bottom in times when BTC has a massive potential. As he tweeted:
“I’d be extremely surprised if the bottom wasn’t in for this $BTC bear market. If you’ve been on the sidelines, what are you waiting for if not now? If you’re a long-term bull, the 5 year EV is 25-50x, and you’re going to wait to time an entry that’s 20% more attractive?”
https://twitter.com/twobitidiot/status/1108520333039058944      
`
Continue Reading

Altcoin News

Most Cryptocurrencies Report Slight Losses, Bitcoin Cash Grows Continuously

At the start of the week, today, Monday 18th, most of the top 20 cryptocurrencies are experiencing some slight losses and in today’s altcoin news we take a look at the crypto market price analysis. The number one cryptocurrency dropped down by one-tenth of a percent today and is now trading at $4,024 according to the data from CoinMarketCap. If you take a look at the weekly chart, the current price is higher about three percent than $3,906 which was the price at the start of the week. Ethereum (ETH) is still the largest cryptocurrency by a market cap which reached up to $14.6 billion. ETH is down by one percent over the past 24 hours. Currently, ETH is trading around $139 after starting the day at $140. On the weekly chart, Ethereum saw some increase action by more than four percent. The second-largest altcoin Ripple lost about three-quarters of a percent over the past 24 hours and is currently trading at $0.315. By looking at the altcoin’s weekly chart, we can see that the current price higher by a one and a half percent than $0.310 which was the starting price of the week. Among the top 20 cryptocurrencies, Bitcoin Cash (BCH) is the one altcoin that experienced growth by more than 5 percent. Dash and Maker both increased by one and a half percent. The total market cap of all cryptocurrencies is now $139.3 billion which is higher by four percent from its position a week ago. Among the other altcoins which see green are Digitex Futures and Lisk, both surging by 17% on the day. The other token of Crypto.com, MCO, is also up 17% right now. It is also important to make a comparison between the crypto and the stock market. The stock market also achieved some slight gains today after the S&P 500 increased by 0.15 percent and Nasdaq by 0.17 percent. The CBOE volatility index also gained a little less than 3 percent to press time. On the EU market, we can also notice that shares at Deutsche Bank and Commerzbank jumped by 3 percent after the banks announced a possible merger. The oil futures show mixed movements today after the WTI Crude increased up by 0.05 percent and Brent Crude increased 0.22. Opec Basket is also up by 1.04 percent.
`
Continue Reading

Altcoin News

Analysis: Bitcoin Finally Pushes Over $4,000 As Other Cryptos Experience Growth

As of today, Saturday, March 16, most of the top 20 cryptocurrencies are reporting noteworthy gains. In our latest altcoin news, the crypto market analysis shows that Bitcoin and other cryptocurrencies are in for a good weekend. Bitcoin (BTC) has gone past the $4,000 price point according to the data from CoinMarketCap. Currently, Bitcoin is up by two percent during the day and is trading at $4,022 at press time. By looking in the weekly chart, the current price is two percent higher than where the price was at the start of the week which is at $3,958. The data gathered from CoinMarketCap also shows that Bitcoin’s trading volume from yesterday, surpassed $11 billion which means that it has reached its highest value since April 25, 2018, when the price of the number one cryptocurrency was at $8,845. Ethereum, on the other hand, is still the largest altcoin by market cap which reached about $14.9 billion. Ripple, on the contrary, has a market cap of about $13 billion at the time of writing. Ethereum (ETH) is up by four percent over the past day and is currently trading around $141 after starting the day at a lower position at $135. On the weekly chart, the value of ETH seems to have increased by more than two percent from 138 which was the price at the start of the week. Ripple (XRP), as the second-largest altcoin gained more than 1.2 percent over the past 24 hours and is currently trading at $0.318. By looking at the altcoin’s weekly chart analysis, you can see that the current price is up by more than a percent which is higher than $0.314, the price at the beginning of the week. Among the top 20 cryptocurrency performers, Bitcoin Cash (BCH) is experiencing some notable growth by increasing in value over 10 percent on the day of writing. The total market cap of all cryptocurrencies combined is now reaching $140 billion which means there has also been some increase of approximately 3.7 percent higher than the value the market was at the start of the week which was $134.8 billion.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below








ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT



UPCOMING EVENTS RECOMMEND BY DC FORECASTS

april

No Events

NEWS CATEGORIES

ADVERTISEMENT



Trending Worldwide

X
X