{"id":564958,"date":"2023-12-12T09:45:50","date_gmt":"2023-12-12T09:45:50","guid":{"rendered":"https:\/\/ktsl888.com\/?p=564958"},"modified":"2024-06-11T07:45:19","modified_gmt":"2024-06-11T07:45:19","slug":"bitcoin-price-crash-not-bad","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-crash-not-bad\/","title":{"rendered":"Crypto Expert Explains Why The Bitcoin Price Crash To $40,000 Is Not A Bad Thing"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A crypto expert has explained why a <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-to-40000-heres-what-needs-to-happen\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin pullback<\/span><\/a><span style=\"font-weight: 400\"> (possibly to around $40,000) isn\u2019t a bad thing. This comes as there is a <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-major-events\/\"><span style=\"font-weight: 400\">growing concern<\/span><\/a><span style=\"font-weight: 400\"> that the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-short-term-holders-4-5-profits-nov-2021\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">flagship cryptocurrency<\/span><\/a><span style=\"font-weight: 400\"> could soon lose all the gains it has achieved in recent times.\u00a0<\/span><\/p>\n<h2>A Bitcoin Correction Is Necessary<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/x.com\/WClementeIII\/status\/47023543?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> on his X (formerly Twitter) platform, William Clemente, the co-founder of Reflexivity Research, suggested this correction was necessary as it would \u201cshake out \u201cweak hands\u201d and leverage, allowing for a stronger foundation for eventual moves higher.\u201d He further mentioned that Bitcoin\u2019s volatility \u201cis a feature, not a bug.\u201d\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/crypto-analyst-xrp-price-18\/\">Crypto Analyst Predicts Short-Term XRP Price Rally To $18<\/a><\/div>\n<p><span style=\"font-weight: 400\">He made this statement in relation to his assertion that the crypto token has doubled in two months with no pullbacks. Although <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/blackrock-bitcoin-spot-etf-approval\/\"><span style=\"font-weight: 400\">it hasn\u2019t exactly doubled<\/span><\/a><span style=\"font-weight: 400\">, Bitcoin has, however, experienced a significant surge these past few months. This has come on the back of the possibility of the Securities and Exchange Commission (SEC) approving the <\/span><a href=\"https:\/\/bitcoinist.com\/sec-demands-spot-bitcoin-etf-kill-switch-experts\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">pending Spot BTC ETF applications<\/span><\/a><span style=\"font-weight: 400\">.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This impressive rally has indeed happened, with the flagship cryptocurrency hardly experiencing any pullback. The bulls have firmly remained in control, with the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bulls-crush-shorts-181-wiped-crypto-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">bears having to bear the brunt<\/span><\/a><span style=\"font-weight: 400\"> of this as many continue to experience heart-wrenching liquidations. However, just like with every other asset, a correction is always expected at some point, and that could be now.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/UuvyZ3ZV\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price recovers above $42,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD On Tradingview.com<\/a><\/pre>\n<h2>A BTC Correction is Already Happening<\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\"> is already facing a retracement as more longs than shorts have liquidated in the last 24 hours, according to <\/span><a href=\"https:\/\/www.coinglass.com\/currencies\/BTC\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from Coinglass. In an earlier <\/span><a href=\"https:\/\/x.com\/WClementeIII\/status\/47746130?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">X post<\/span><\/a><span style=\"font-weight: 400\">, Clemente had warned that there would \u201cbe sharp corrections along the way as the market shakes off greedy leveraged longs.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the reason for the breather from Bitcoin could also be a result of those waiting on the sidelines to see the outcome of the <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-major-events\/\"><span style=\"font-weight: 400\">macroeconomic events happening this week<\/span><\/a><span style=\"font-weight: 400\">. This includes the CPI inflation data that is set to be released on December 12, which will be closely followed by the FOMC meeting happening on that same day and December 13.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-down-2200\/\">Why Is Ethereum Price Down To $2,200 Today?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Many will be hoping that the outcome of those events is rather positive as that would further ignite the bullish sentiment that is currently reverberating throughout the crypto community. Irrespective of what happens, this sentiment isn\u2019t expected to dwindle as many still have their sights set on January when a <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year\"><span style=\"font-weight: 400\">Spot Bitcoin ETF could be approved<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Liquidity is also flowing into the ecosystem, with digital asset investment products <\/span><a href=\"https:\/\/blog.coinshares.com\/volume-161-digital-asset-fund-flows-weekly-report-0944e1003fdf\" rel=\"nofollow\"><span style=\"font-weight: 400\">experiencing<\/span><\/a><span style=\"font-weight: 400\"> their 11th straight week of inflows at $43 million. Bitcoin remains the major focus of these investors, with the flagship crypto token seeing $20 million in inflows.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is trading at around $42,000, down in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Navi, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A crypto expert has explained why a Bitcoin pullback (possibly to around $40,000) isn\u2019t a bad thing. This comes as there is a growing concern that the flagship cryptocurrency could soon lose all the gains it has achieved in recent times.\u00a0 A Bitcoin Correction Is Necessary In a post on his X (formerly Twitter) platform, William Clemente, the co-founder of Reflexivity Research, suggested this correction was necessary as it would \u201cshake out \u201cweak hands\u201d and leverage, allowing for a stronger foundation for eventual moves higher.\u201d He further mentioned that Bitcoin\u2019s volatility \u201cis a feature, not a bug.\u201d\u00a0 Related Reading: Crypto Analyst Predicts Short-Term XRP Price Rally To $18 He made this statement in relation to his assertion that the crypto token has doubled in two months with no pullbacks. Although it hasn\u2019t exactly doubled, Bitcoin has, however, experienced a significant surge these past few months. This has come on the back of the possibility of the Securities and Exchange Commission (SEC) approving the pending Spot BTC ETF applications.\u00a0\u00a0 This impressive rally has indeed happened, with the flagship cryptocurrency hardly experiencing any pullback. The bulls have firmly remained in control, with the bears having to bear the brunt of this as many continue to experience heart-wrenching liquidations. However, just like with every other asset, a correction is always expected at some point, and that could be now.\u00a0 BTC price recovers above $42,000 | Source: BTCUSD On Tradingview.com A BTC Correction is Already Happening Bitcoin is already facing a retracement as more longs than shorts have liquidated in the last 24 hours, according to data from Coinglass. In an earlier X post, Clemente had warned that there would \u201cbe sharp corrections along the way as the market shakes off greedy leveraged longs.\u201d Meanwhile, the reason for the breather from Bitcoin could also be a result of those waiting on the sidelines to see the outcome of the macroeconomic events happening this week. This includes the CPI inflation data that is set to be released on December 12, which will be closely followed by the FOMC meeting happening on that same day and December 13.\u00a0 Related Reading: Why Is Ethereum Price Down To $2,200 Today? Many will be hoping that the outcome of those events is rather positive as that would further ignite the bullish sentiment that is currently reverberating throughout the crypto community. Irrespective of what happens, this sentiment isn\u2019t expected to dwindle as many still have their sights set on January when a Spot Bitcoin ETF could be approved.\u00a0 Liquidity is also flowing into the ecosystem, with digital asset investment products experiencing their 11th straight week of inflows at $43 million. Bitcoin remains the major focus of these investors, with the flagship crypto token seeing $20 million in inflows.\u00a0 At the time of writing, Bitcoin is trading at around $42,000, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Navi, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,506,656,679,90843,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-564958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-crash","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Crypto Expert Explains Why The Bitcoin Price Crash To $40,000 Is Not A Bad Thing<\/title>\n<meta name=\"description\" content=\"A crypto expert has explained why a Bitcoin pullback (possibly to around $40,000) isn\u2019t a bad thing as 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Matherson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"caption\":\"Scott Matherson\"},\"description\":\"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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