{"id":417745,"date":"2020-03-11T18:00:23","date_gmt":"2020-03-11T18:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=417745"},"modified":"2024-06-11T13:43:12","modified_gmt":"2024-06-11T13:43:12","slug":"grim-observation-shows-bitcoin-could-crash-50-towards-4000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/grim-observation-shows-bitcoin-could-crash-50-towards-4000\/","title":{"rendered":"Grim Observation Shows Bitcoin Could Crash 50% Towards $4,000"},"content":{"rendered":"
After making multiple attempts to propel Bitcoin past $8,000 yesterday, the cryptocurrency\u2019s bulls appear to have lost their tempered momentum, as BTC is now drifting down towards its key near-term support at $7,700.<\/p>\n
This ongoing bout of consolidation has done little to offer clarity into which direction the crypto will trend next, but the potency of its recent downtrend coupled with the degrading technical strength seems to favor bears.<\/p>\n
Furthermore, one bearish observation also suggests that the ongoing selloff could extend significantly further, although a potential drop to lows of roughly $4,000 may only be catalyzed by a global recession or a significant extension of the ongoing turbulence in the traditional markets.<\/p>\n
Bitcoin at Risk of Seeing Significant Losses Due to These Two Key Levels<\/strong>\u00a0<\/strong><\/h2>\n