{"id":570287,"date":"2024-01-19T09:35:21","date_gmt":"2024-01-19T09:35:21","guid":{"rendered":"https:\/\/ktsl888.com\/?p=570287"},"modified":"2024-06-11T10:07:47","modified_gmt":"2024-06-11T10:07:47","slug":"crypto-analyst-bitcoin-price-plunge-even-lower","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","title":{"rendered":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower"},"content":{"rendered":"

The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the correction. In a recent analysis<\/a>, Canfield warned that more downside could be on the cards in the short-term.<\/p>\n

The analyst, known for accurately predicting the local top of Bitcoin, addressed the prevailing uncertainty in the market. “The question that everyone is asking now is ‘where do we go from here?'” the analyst posed, acknowledging the community’s growing concern.<\/p>\n

A significant factor in the current market dynamics is the approval of a Bitcoin ETF, which has led to speculation about Grayscale Bitcoin Trust (GBTC)<\/a> investors selling their holdings to evade the associated fees. The narrative is compounded by revelations from court filings that the FTX bankruptcy<\/a> estate holds a substantial number of GBTC shares, approximately 22,280,720 (worth $744 million), poised for liquidation.<\/p>\n

Related Reading: Bitcoin Price In Danger? This Terrible Story Could Happen Again<\/a><\/div>\n

Conversely, signs of market optimism emerge with BlackRock’s ETF<\/a>, IBIT, reportedly accumulating spot Bitcoin aggressively, adding up to 25,067 bitcoins in under a week. The analyst suggests that this buying momentum from BlackRock may eventually counterbalance the selling pressure from GBTC, especially when considering the impact of the upcoming Bitcoin halving<\/a>, creating a ‘delayed impact’ event potentially tipping the scale towards demand over supply.<\/p>\n

How Low Can Bitcoin Price Drop?<\/h2>\n

The chart analysis provides a more immediate and grim perspective. The Bitcoin 4-hour chart indicates a lost trend that’s now acting as resistance, historically a foreboding sign for short to mid-term price movements.<\/p>\n

\u201cThe 4 hour trend on bitcoin has been lost and tested as resistance. This is not great as the 4 hour trend historically has been a good indicator for short term\/mid term price movements, the analyst remarked.<\/p>\n

Canfield further points out, “If I was looking for a level for a short term bounce, it would probably be at a sweep of the $40,000 liquidity,” hinting at potential downward pressure on the price.<\/p>\n

Related Reading: Economist Foresees $115,000 Bitcoin Peak, Followed By Largest Crash Since 1929<\/a><\/div>\n

The Bitcoin daily chart presents a narrow path, with significant levels at $48.7k, marked by the 61.8% Fibonacci retracement and weekly resistance, and a notable support level at $38.7k. \u201cAs I’ve noticed in former posts, after BTC taps the 61.8, it tends to sell off 18-22%, which would give us another crack at that $38.7k level as well,\u201d warns Canfield.<\/p>\n

\"Bitcoin
Bitcoin price analysis | Source: X @JacobCanfield<\/figcaption><\/figure>\n

Furthermore, the daily 200’s (EMA\/MA) are currently trending upwards, having previously acted as support, suggesting they might cushion a further price fall.<\/p>\n

The analyst concludes with a word of caution, emphasizing the need for vigilance in the current market characterized by low volume and volatility, conditions that often precede substantial market movements: \u201cBiggest thing I can stress is that caution is needed during low volume\/low volatility environments as a big move typically follows.\u201d<\/p>\n

At press time, BTC traded at $41,178.<\/p>\n

\"Bitcoin
BTC price, 4-hour chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the correction. In a recent analysis, Canfield warned that more downside could be on the cards in the short-term. The analyst, known for accurately predicting the local top of Bitcoin, addressed the prevailing uncertainty in the market. “The question that everyone is asking now is ‘where do we go from here?’” the analyst posed, acknowledging the community’s growing concern. A significant factor in the current market dynamics is the approval of a Bitcoin ETF, which has led to speculation about Grayscale Bitcoin Trust (GBTC) investors selling their holdings to evade the associated fees. The narrative is compounded by revelations from court filings that the FTX bankruptcy estate holds a substantial number of GBTC shares, approximately 22,280,720 (worth $744 million), poised for liquidation. Related Reading: Bitcoin Price In Danger? This Terrible Story Could Happen Again Conversely, signs of market optimism emerge with BlackRock’s ETF, IBIT, reportedly accumulating spot Bitcoin aggressively, adding up to 25,067 bitcoins in under a week. The analyst suggests that this buying momentum from BlackRock may eventually counterbalance the selling pressure from GBTC, especially when considering the impact of the upcoming Bitcoin halving, creating a ‘delayed impact’ event potentially tipping the scale towards demand over supply. How Low Can Bitcoin Price Drop? The chart analysis provides a more immediate and grim perspective. The Bitcoin 4-hour chart indicates a lost trend that’s now acting as resistance, historically a foreboding sign for short to mid-term price movements. \u201cThe 4 hour trend on bitcoin has been lost and tested as resistance. This is not great as the 4 hour trend historically has been a good indicator for short term\/mid term price movements, the analyst remarked. Canfield further points out, “If I was looking for a level for a short term bounce, it would probably be at a sweep of the $40,000 liquidity,” hinting at potential downward pressure on the price. Related Reading: Economist Foresees $115,000 Bitcoin Peak, Followed By Largest Crash Since 1929 The Bitcoin daily chart presents a narrow path, with significant levels at $48.7k, marked by the 61.8% Fibonacci retracement and weekly resistance, and a notable support level at $38.7k. \u201cAs I’ve noticed in former posts, after BTC taps the 61.8, it tends to sell off 18-22%, which would give us another crack at that $38.7k level as well,\u201d warns Canfield. Furthermore, the daily 200’s (EMA\/MA) are currently trending upwards, having previously acted as support, suggesting they might cushion a further price fall. The analyst concludes with a word of caution, emphasizing the need for vigilance in the current market characterized by low volume and volatility, conditions that often precede substantial market movements: \u201cBiggest thing I can stress is that caution is needed during low volume\/low volatility environments as a big move typically follows.\u201d At press time, BTC traded at $41,178. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":570309,"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":[428,679,680,1119,1122,1144],"class_list":["post-570287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-price-analysis","tag-btc","tag-btc-price","tag-btcusd"],"acf":[],"yoast_head":"\nCrypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower<\/title>\n<meta name=\"description\" content=\"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-19T09:35:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T10:07:47+00:00\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower\",\"datePublished\":\"2024-01-19T09:35:21+00:00\",\"dateModified\":\"2024-06-11T10:07:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\"},\"wordCount\":557,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin price\",\"Bitcoin price analysis\",\"btc\",\"btc price\",\"btcusd\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\",\"url\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\",\"name\":\"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\",\"datePublished\":\"2024-01-19T09:35:21+00:00\",\"dateModified\":\"2024-06-11T10:07:47+00:00\",\"description\":\"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?\",\"breadcrumb\":{\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\",\"width\":1792,\"height\":1024,\"caption\":\"Bitcoin price\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ktsl888.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ktsl888.com\/#website\",\"url\":\"https:\/\/ktsl888.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ktsl888.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ktsl888.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/ktsl888.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/ktsl888.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower","description":"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower","og_description":"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?","og_url":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-01-19T09:35:21+00:00","article_modified_time":"2024-06-11T10:07:47+00:00","author":"Jake Simmons","twitter_card":"summary_large_image","twitter_image":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#article","isPartOf":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower","datePublished":"2024-01-19T09:35:21+00:00","dateModified":"2024-06-11T10:07:47+00:00","mainEntityOfPage":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/"},"wordCount":557,"publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"image":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","keywords":["bitcoin","bitcoin price","Bitcoin price analysis","btc","btc price","btcusd"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/ktsl888.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","url":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","name":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Lower","isPartOf":{"@id":"https:\/\/ktsl888.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage"},"image":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","datePublished":"2024-01-19T09:35:21+00:00","dateModified":"2024-06-11T10:07:47+00:00","description":"The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Can it go lower?","breadcrumb":{"@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#primaryimage","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","width":1792,"height":1024,"caption":"Bitcoin price"},{"@type":"BreadcrumbList","@id":"https:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ktsl888.com\/"},{"@type":"ListItem","position":2,"name":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower"}]},{"@type":"WebSite","@id":"https:\/\/ktsl888.com\/#website","url":"https:\/\/ktsl888.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ktsl888.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ktsl888.com\/#organization","name":"NewsBTC","url":"https:\/\/ktsl888.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower","url":"http:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/crypto-analyst-bitcoin-price-plunge-even-lower\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","bitcoin price analysis","btc","btc price","btcusd"],"dateCreated":"2024-01-19T09:35:21Z","datePublished":"2024-01-19T09:35:21Z","dateModified":"2024-06-11T10:07:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-analyst-bitcoin-price-plunge-even-lower\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-analyst-bitcoin-price-plunge-even-lower\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/DALL\\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/DALL\\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"bitcoin price analysis\",\"btc\",\"btc price\",\"btcusd\"],\"dateCreated\":\"2024-01-19T09:35:21Z\",\"datePublished\":\"2024-01-19T09:35:21Z\",\"dateModified\":\"2024-06-11T10:07:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/DALL\u00b7E-2024-01-19-09.18.50-An-image-representing-a-news-report-title-about-the-fluctuating-price-of-Bitcoin-in-a-wide-format.-The-image-should-show-a-wide-graph-with-rising-and-.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/570287"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=570287"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/570287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/570309"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=570287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=570287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=570287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}