{"id":639508,"date":"2024-09-03T19:30:33","date_gmt":"2024-09-03T19:30:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=639508"},"modified":"2024-09-03T09:12:32","modified_gmt":"2024-09-03T09:12:32","slug":"bitcoin-price-crash-to-40000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crash-to-40000\/","title":{"rendered":"Analysts Predict Bitcoin Price Could Crash To $40,000, But There\u2019s Good News"},"content":{"rendered":"

Despite initial expectations of a steady price increase and a robust bull run this year, <\/span>Bitcoin (BTC)<\/span><\/a> has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency\u2019s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a <\/span>potential crash below $40,000<\/span><\/a>. However, the analyst also provides a silver lining to his bearish outlook, anticipating a major rebound after the decline.\u00a0<\/span><\/p>\n

Bitcoin May Be Headed For A $40,000 Crash<\/h2>\n

A crypto analyst known as \u2018Magog PhD\u2019 took to X (formerly Twitter) on September 1 to <\/span>share<\/span><\/a> a unique encounter he had with a supposed Bitcoin billionaire. The analyst recounted an unusual experience from his summer job as a waiter in a New York restaurant, where a Bitcoin billionaire slid a piece of paper across the table in the form of a tip.\u00a0<\/span><\/p>\n

Related Reading: Here\u2019s Why The XRP Price Plunged To $0.55<\/a><\/div>\n

Upon examination the paper revealed a chart forecasting <\/span>Bitcoin\u2019s future price trajectory<\/span><\/a>. The chart illustrated that Bitcoin\u2019s price was expected to crash below $32,000, marking a massive decline to new lows. Over the past few months the price of Bitcoin has experienced strong volatility and <\/span>widespread liquidations<\/span><\/a> which have led to severe price decline.<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

At one stage, the cryptocurrency tumbled by over 20%, <\/span>plunging below $50,000<\/span><\/a> before rebounding to nearly $60,000. The demand for <\/span>Spot Bitcoin Exchange Traded Funds (ETFs)<\/span><\/a> have also seen a sharp decline, likely playing a role in Bitcoin\u2019s recent <\/span>downward trend<\/span><\/a>.\u00a0<\/span><\/p>\n

Although the Bitcoin price chart projects that the cryptocurrency will crash below $32,000, it also illustrated that Bitcoin would <\/span>potentially witness a major breakout <\/span><\/a>above $76,000 following the decline. Similar bullish sentiment has been shared by fellow crypto analysts in the market.\u00a0<\/span><\/p>\n

According to technical analyst and Bitcoin trader, \u2018Titan of Crypto,\u2019 Bitcoin is currently forming a unique technical pattern called the \u201cCup and Handle pattern.\u201d Often recognized as a bullish continuation signal, the <\/span>Cup and Handle<\/span><\/a> is a technical chart pattern that highlights a period of consolidation after an uptrend, followed by a slight pull back and an eventual breakout to the upside.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Based on this technical pattern, the analyst <\/span>believes<\/span><\/a> that Bitcoin is likely to break out soon, reaching a potential price target of $110,000. He disclosed that this bullish price movement could happen in the <\/span>final quarter of the year<\/span><\/a>, highlighting that the cryptocurrency\u2019s rebound is \u201cgoing to be epic.\u201d<\/span><\/p>\n

BTC Achieves Historic Weekly Golden Cross<\/h2>\n

Bitcoin may have reached a historic milestone, as crypto analyst Jelle has <\/span>identified<\/span><\/a> the formation of a weekly Golden Cross on the <\/span>Bitcoin price chart<\/span><\/a> for the first time ever.\u00a0<\/span><\/p>\n

Related Reading: Crypto Market In Trouble As Analyst Predicts $1 Trillion Crash<\/a><\/div>\n
\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n<\/div>\n

The\u00a0<\/span>golden cross<\/a> occurs when a short-term Moving Average (MA) crosses above a long-term MA.<\/span>\u00a0This week, Bitcoin\u2019s 100-week MA surpassed the 200-week MA, highlighting a strong bullish signal that could potentially <\/span>trigger<\/span><\/a> a massive bull run for the cryptocurrency.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price struggling below $59,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency\u2019s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000. However, the analyst also provides a silver lining to his bearish outlook, anticipating a major rebound after the decline.\u00a0 Bitcoin May Be Headed For A $40,000 Crash A crypto analyst known as \u2018Magog PhD\u2019 took to X (formerly Twitter) on September 1 to share a unique encounter he had with a supposed Bitcoin billionaire. The analyst recounted an unusual experience from his summer job as a waiter in a New York restaurant, where a Bitcoin billionaire slid a piece of paper across the table in the form of a tip.\u00a0 Related Reading: Here\u2019s Why The XRP Price Plunged To $0.55 Upon examination the paper revealed a chart forecasting Bitcoin\u2019s future price trajectory. The chart illustrated that Bitcoin\u2019s price was expected to crash below $32,000, marking a massive decline to new lows. Over the past few months the price of Bitcoin has experienced strong volatility and widespread liquidations which have led to severe price decline. At one stage, the cryptocurrency tumbled by over 20%, plunging below $50,000 before rebounding to nearly $60,000. The demand for Spot Bitcoin Exchange Traded Funds (ETFs) have also seen a sharp decline, likely playing a role in Bitcoin\u2019s recent downward trend.\u00a0 Although the Bitcoin price chart projects that the cryptocurrency will crash below $32,000, it also illustrated that Bitcoin would potentially witness a major breakout above $76,000 following the decline. Similar bullish sentiment has been shared by fellow crypto analysts in the market.\u00a0 According to technical analyst and Bitcoin trader, \u2018Titan of Crypto,\u2019 Bitcoin is currently forming a unique technical pattern called the \u201cCup and Handle pattern.\u201d Often recognized as a bullish continuation signal, the Cup and Handle is a technical chart pattern that highlights a period of consolidation after an uptrend, followed by a slight pull back and an eventual breakout to the upside.\u00a0 Based on this technical pattern, the analyst believes that Bitcoin is likely to break out soon, reaching a potential price target of $110,000. He disclosed that this bullish price movement could happen in the final quarter of the year, highlighting that the cryptocurrency\u2019s rebound is \u201cgoing to be epic.\u201d BTC Achieves Historic Weekly Golden Cross Bitcoin may have reached a historic milestone, as crypto analyst Jelle has identified the formation of a weekly Golden Cross on the Bitcoin price chart for the first time ever.\u00a0 Related Reading: Crypto Market In Trouble As Analyst Predicts $1 Trillion Crash The\u00a0golden cross occurs when a short-term Moving Average (MA) crosses above a long-term MA.\u00a0This week, Bitcoin\u2019s 100-week MA surpassed the 200-week MA, highlighting a strong bullish signal that could potentially trigger a massive bull run for the cryptocurrency.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":639520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-639508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nAnalysts Predict Bitcoin Price Could Crash To $40,000, But There\u2019s Good News<\/title>\n<meta name=\"description\" content=\"Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines.\" \/>\n<meta name=\"robots\" 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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. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analysts Predict Bitcoin Price Could Crash To $40,000, But There\u2019s Good News","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crash-to-40000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crash-to-40000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-09-03T19:30:33Z","datePublished":"2024-09-03T19:30:33Z","dateModified":"2024-09-03T19:30:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analysts Predict Bitcoin Price Could Crash To $40,000, But There\\u2019s Good News\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-price-crash-to-40000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-price-crash-to-40000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-09-03T19:30:33Z\",\"datePublished\":\"2024-09-03T19:30:33Z\",\"dateModified\":\"2024-09-03T19:30:33Z\"}<\/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\/09\/Bitcoin.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639508","targetHints":{"allow":["GET"]}}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=639508"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/639520"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=639508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=639508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=639508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}