{"id":640064,"date":"2024-09-06T01:30:48","date_gmt":"2024-09-06T01:30:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=640064"},"modified":"2024-09-05T13:53:45","modified_gmt":"2024-09-05T13:53:45","slug":"bitcoin-btc-price-50000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-btc-price-50000\/","title":{"rendered":"Bitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold"},"content":{"rendered":"

Bitcoin (BTC) has been on a severe <\/span>downward trend<\/span><\/a> for the past few months, experiencing multiple price fluctuations amidst <\/span>broader market volatility<\/span><\/a>. A crypto analyst has predicted that Bitcoin could witness an even steeper drop to $50,000 if its price does not hold this key support level.\u00a0<\/span><\/p>\n

Bitcoin Risks $50,000 Drop If Support Fails<\/h2>\n

Elja Boom, a crypto analyst took to X (formerly Twitter) on September 5 to <\/span>discuss<\/span><\/a> the current price trends and market movements of Bitcoin. Boom shared a price chart offering key insights into Bitcoin\u2019s future outlook, indicating that the cryptocurrency\u2019s short term uptrend has likely ended.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Says The Bitcoin \u2018Summer Chop\u2019 Is Nearing Its End, Here\u2019s Why<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The analyst expects Bitcoin\u2019s price to stay within the range of $54,000 and $54,500. However, if the cryptocurrency fails to hold this <\/span>crucial support level<\/span><\/a>, its price could witness a significant correction, potentially pushing it <\/span>down to new lows<\/span><\/a> around $50,000.\u00a0<\/span><\/p>\n

Interestingly, the analyst observed a recurring pattern in Bitcoin\u2019s price action in the last few months. He noticed that <\/span>Bitcoin has declined <\/span><\/a>significantly during the first five days of each month.\u00a0<\/span>The cryptocurrency dropped in the first week of July and August and is witnessing the same\u00a0bearish performance<\/a> in September.<\/span>\u00a0<\/span><\/p>\n

Earlier this month, <\/span>Bitcoin\u2019s price fell below $60,000<\/span><\/a>, after witnessing strong price declines that dropped its value by over 4%. CoinMarketCap reveals that Bitcoin has increased slightly by 1.2% in the last 24 hours, however bearish sentiment still persists among various market analysts.<\/span><\/p>\n

Crypto expert, Ali Martinez <\/span>disclosed<\/span><\/a> recently that <\/span>Bitcoin could drop<\/span><\/a> as low as $40,600 if it fails to maintain a price above the $51,000 support level. Martinez emphasized that Bitcoin\u2019s 2-month chart is showing a TD Sequential indicator that is presenting a sell signal. This suggests that the cryptocurrency may be gearing up for a <\/span>major price correction<\/span><\/a>.\u00a0<\/span><\/p>\n

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

Additionally, the analyst has <\/span>urged<\/span><\/a> traders to keep an eye on a <\/span>potential price breakout<\/span><\/a> around $68,000. He revealed that until Bitcoin surpassed this key level, its price may continue dipping.\u00a0<\/span><\/p>\n

Could A Bull Run Follow BTC’s Descent Towards $50,000?<\/h2>\n

Due to Bitcoin\u2019s persistent price corrections, many analysts believe that the cryptocurrency <\/span>may decline even further<\/span><\/a> before witnessing a price rebound. Michael van de Poppe, a popular crypto analyst, has shared his <\/span>price forecast for Bitcoin this September<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: XRP Price To $8: Analyst Says Repeat Of 2017 Could Drive Rally<\/a><\/div>\n

Poppe <\/span>revealed<\/span><\/a> that the Bitcoin market is currently in a steep correction phase, characterized by <\/span>widespread liquidation<\/span><\/a>s that have failed to trigger a bounce upwards. In light of this, the analyst believes that a drop to $53,000 or even as low as $49,000 could occur for Bitcoin.\u00a0<\/span><\/p>\n

After this downtrend, Poppe believes that a price reversal may be imminent. This bullish sentiment is shared by a crypto analyst, identified as \u2018Titan of Crypto,\u2019 who <\/span>predicts <\/span><\/a>that October may be the month that Bitcoin finally breaks out of its bearish cycle.\u00a0<\/span><\/p>\n

Sharing a price chart tracking Bitcoin\u2019s previous bear cycles and bull runs, the analyst predicts that <\/span>the cryptocurrency could breakout to $100,000<\/span><\/a> soon, marking the possible start of a bull run.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price at $56,000 | 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":"

Bitcoin (BTC) has been on a severe downward trend for the past few months, experiencing multiple price fluctuations amidst broader market volatility. A crypto analyst has predicted that Bitcoin could witness an even steeper drop to $50,000 if its price does not hold this key support level.\u00a0 Bitcoin Risks $50,000 Drop If Support Fails Elja Boom, a crypto analyst took to X (formerly Twitter) on September 5 to discuss the current price trends and market movements of Bitcoin. Boom shared a price chart offering key insights into Bitcoin\u2019s future outlook, indicating that the cryptocurrency\u2019s short term uptrend has likely ended.\u00a0 Related Reading: Crypto Analyst Says The Bitcoin \u2018Summer Chop\u2019 Is Nearing Its End, Here\u2019s Why The analyst expects Bitcoin\u2019s price to stay within the range of $54,000 and $54,500. However, if the cryptocurrency fails to hold this crucial support level, its price could witness a significant correction, potentially pushing it down to new lows around $50,000.\u00a0 Interestingly, the analyst observed a recurring pattern in Bitcoin\u2019s price action in the last few months. He noticed that Bitcoin has declined significantly during the first five days of each month.\u00a0The cryptocurrency dropped in the first week of July and August and is witnessing the same\u00a0bearish performance in September.\u00a0 Earlier this month, Bitcoin\u2019s price fell below $60,000, after witnessing strong price declines that dropped its value by over 4%. CoinMarketCap reveals that Bitcoin has increased slightly by 1.2% in the last 24 hours, however bearish sentiment still persists among various market analysts. Crypto expert, Ali Martinez disclosed recently that Bitcoin could drop as low as $40,600 if it fails to maintain a price above the $51,000 support level. Martinez emphasized that Bitcoin\u2019s 2-month chart is showing a TD Sequential indicator that is presenting a sell signal. This suggests that the cryptocurrency may be gearing up for a major price correction.\u00a0 Additionally, the analyst has urged traders to keep an eye on a potential price breakout around $68,000. He revealed that until Bitcoin surpassed this key level, its price may continue dipping.\u00a0 Could A Bull Run Follow BTC’s Descent Towards $50,000? Due to Bitcoin\u2019s persistent price corrections, many analysts believe that the cryptocurrency may decline even further before witnessing a price rebound. Michael van de Poppe, a popular crypto analyst, has shared his price forecast for Bitcoin this September.\u00a0 Related Reading: XRP Price To $8: Analyst Says Repeat Of 2017 Could Drive Rally Poppe revealed that the Bitcoin market is currently in a steep correction phase, characterized by widespread liquidations that have failed to trigger a bounce upwards. In light of this, the analyst believes that a drop to $53,000 or even as low as $49,000 could occur for Bitcoin.\u00a0 After this downtrend, Poppe believes that a price reversal may be imminent. This bullish sentiment is shared by a crypto analyst, identified as \u2018Titan of Crypto,\u2019 who predicts that October may be the month that Bitcoin finally breaks out of its bearish cycle.\u00a0 Sharing a price chart tracking Bitcoin\u2019s previous bear cycles and bull runs, the analyst predicts that the cryptocurrency could breakout to $100,000 soon, marking the possible start of a bull run.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":637966,"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-640064","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":"\nBitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold<\/title>\n<meta name=\"description\" content=\"Bitcoin has been on a severe downward trend for the past few months, experiencing price fluctuations amidst broader market volatility.\" \/>\n<meta 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