Bitcoin Faces Potential 50% Crash—But Analysts Say The Fear Is Overblown
Bitcoin’s recent wobble has split analysts. Some warn of a deep pullback while onchain trackers point to a mild correction that could already be ending. Related Reading: XRP On Fire: Over 21,000 New Wallets Appear In 48 Hours Traditional Analysis Shows Risk According to Bloomberg analyst Mike McGlone’s post on X, the move under $100,000 may not be finished. He called a fall from recent highs a possible “Speed Bump Toward $56,000,” and said that past rallies often reverted toward the 48-month moving average, now near $56,000. That view implies the potential for a sharp drop — almost 50%....
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Analysts fear that Bitcoin is primed to drop after the $14,000 break on Saturday. The recent price action has been spotty due to a lack of follow-through at $14,000. An analyst also added that with uncertainty in the stock market and with the U.S. Dollar Index on support, BTC has a good chance at moving lower as opposed to higher. Bitcoin Primed to Drop, Analysts Fear Analysts fear that Bitcoin is primed to retrace as […]
Financial writer and investor Robert Kiyosaki has renewed his stark warning that a deep market collapse is under way, saying a “massive crash” is in progress and that “millions will be wiped out.” Related Reading: Digital Assets Go Big: Malaysia’s 3-Year Tokenization Roadmap Revealed According to his post on X on November 1, he urged […]
Bitstamp customers on Reddit and bitcointalk are reporting that they are now able to make Bitcoin withdrawals. The price almost instantly recovered back to the $700+ level that was normal before the transaction malleability problems first began. As we reported yesterday, it seems the transaction malleability problem may have been overblown, especially when it came to the troubles at MtGox. This rally is proving that Bitcoin really is the "honey badger of money". Hourly Bitstamp chart, showing a potential double bottom around 530 - 540. Are We Back to Normal? There were a large number of....
Ethereum could drop even lower than it has over the past few weeks as it faces strong resistance. Analysts say that the crypto asset is vulnerable to a drop under $300 in the coming weeks. The asset is running up against critical resistances around $360-375. The coin will need to surmount this region, then hold it if it is to confirm more upside. Ethereum Could Soon Drop Under $300, Analysts Fear Ethereum is primed to […]
The cryptocurrency market continues its summer swoon, with major coins like Bitcoin tumbling to four-month lows. Chainlink (LINK), a key player in the decentralized oracle network space, has been especially hard-hit, dropping 25% since the beginning of June. But is this a buying opportunity, or the precipice of a steeper decline? Related Reading: Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage This Chart Pattern Looms Large Technical analysts are scrutinizing Chainlink’s chart, with a particular focus on the dreaded “Head and Shoulders” pattern.....