LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
CryptocCompare Adds Commercial API Market Data Service to Existing Free Service
Bitcoin News

Could Bitcoin Drop All Over Again in the Next Few Weeks?

by Nick Marinoff
April 21, 2020
in Bitcoin News, News
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Bitcoin has exploded in recent days, jumping all the way to the $7,000 mark for the second time in a month. This is a solid improvement over where it stood just last week, and yet some are predicting that things are about to fizzle out all over again.

Bitcoin May Take Another Dip

This seems to be a running theme in the bitcoin arena. While BTC does well and many people seem to jump on board, there are others that refuse to see the light. Many still view bitcoin as a failing asset that has yet to make a serious mark on the financial industry. They were haters before, and they’ll continue to be that way until the final BTC unit is mined.

However, others predict nastiness for BTC not out of spite, but due to technical prowess, which they claim to possess. Some believe that technical indicators are suggesting the world’s number one crypto by market cap is about to drop all over again.

If this is true, it can be said the currency can’t seem to catch a break. Bitcoin has already taken a few huge stumbles in the past few months. In February, the asset was trading for well over $10,300, but by early March, it had fallen into the high $8,000 range. From there, the coronavirus pandemic began thrashing itself against the global economy, which ultimately (albeit briefly) brought bitcoin down into the high $3,000 range, thereby knocking close to $7,000 off its total price.

BTC has since gained nearly $4,000 more, but the asset still has plenty of room for improvement if it’s going to regain all it has lost since February.

One technical analysis says the convergence divergence indicator shows bitcoin encountering hardcore resistance at $7,500, which could potentially lead to the asset losing steam over the next few weeks. In addition, bitcoin and other forms of crypto appear to be moving in correlation with U.S. stocks, which are presently down, so the chart suggests digital currency could potentially move in the same direction.

Jerry Braakman – chief investment officer of First American Trust – explained in an interview:

When equity markets sell off, all people want to own is cash. When things are good, money will flow there and when things are bad, it’s going to have that downside.

Some Are Still Major Believers

Despite all the negative press, bitcoin still seems to be attracting legions of fans, including Mike McGlone of Bloomberg Intelligence. A longtime advocate of bitcoin and crypto, he believes bitcoin is on the verge of making a serious comeback and says:

In the third year since its peak, we expect bitcoin to continue doing what it has been – appreciating, but at a languid pace. Bitcoin’s 2020 average price… is the highest annual measure ever, indicating a market that is simply marking time.

Related Posts

Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Could Take Major Hit Below $1,600

Ethereum price is struggling below the $1,650 resistance against the US Dollar. ETH price is now trading below $1,600...

by Aayush Jindal
September 26, 2023
Brandon Mintz of Bitcoin Depot on the Many Changes to the ATM Industry
Bitcoin ATMs

Brandon Mintz of Bitcoin Depot on the Many Changes to the ATM Industry

Brandon Mintz is the CEO of Bitcoin Depot, one of the largest crypto ATM firms in the world. He...

by Nick Marinoff
September 25, 2023
Bitcoin Suisse Sees Big Things Happening for Crypto Soon
Bitcoin News

Alyse Killeen: Bitcoin is Becoming Much More Mainstream

Is bitcoin – the world’s number one digital currency by market cap – finally gaining mainstream traction and attention?...

by Nick Marinoff
September 25, 2023
Six Additional BTC ETF Applications Are Being Examined by the SEC
Bitcoin News

Mike Novogratz: A Bitcoin ETF is Right Around the Corner

Mike Novogratz – the billionaire hedge fund manager of Galaxy Digital and one of the biggest BTC bulls the...

by Nick Marinoff
September 25, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • Ibiza NXT 2023 – Heading toward a purpose-driven Web3 innovation journey

  • Alaya: The Pioneer of Artificial Intelligence Data

  • Zeebu Secures $25 Million in Presale Funding for World’s First On-chain Invoice Settlement...

  • Reef Labs $10M Accelerator Program COHORT 1 Begins, Paving the Way for Web3 Innovators

  • Registration for the Finance Magnates London Summit 2023 is officially open!

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…

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. 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.
Go to mobile version