{"id":427030,"date":"2020-06-11T11:00:42","date_gmt":"2020-06-11T11:00:42","guid":{"rendered":"https:\/\/wncen.com\/?p=427030"},"modified":"2024-06-11T09:44:06","modified_gmt":"2024-06-11T09:44:06","slug":"a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","title":{"rendered":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why"},"content":{"rendered":"<ul>\n<li>Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday.<\/li>\n<li>The cryptocurrency&#8217;s sharp pullback from the crucial resistance level has raised its possibilities of falling towards $8,800.<\/li>\n<li>One prominent analyst sees the breakdown as an opportunity to launch a bull run above $10,000.<\/li>\n<\/ul>\n<p>Bitcoin could be at risk of crashing towards $8,800 this month, according to a pseudonymous analyst.<\/p>\n<p>The downside prediction came after the <a href=\"https:\/\/wncen.com\/2020\/06\/10\/bitcoin-price-taps-10000-btcusd\/\">cryptocurrency&#8217;s latest failed attempt at breaking above $10,000<\/a>. On Wednesday, the BTC\/USD exchange rate briefly closed above the said resistance level. Nevertheless, the pair shed gains quickly after topping near $10,018, falling by more than $300 within just five minutes.<\/p>\n<figure id=\"attachment_427043\" aria-describedby=\"caption-attachment-427043\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-5.png\"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427043 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-5.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427043\" class=\"wp-caption-text\">BTCUSD corrects lower after testing $10,000 | Source: TradingView.com, Coinbase<\/figcaption><\/figure>\n<p>It was Bitcoin&#8217;s sixteenth attempt at closing above $10,000 since February 2020. The cryptocurrency&#8217;s repeated failure to establish a bullish bias in the six-figure range led some analysts to predict a breakdown scenario.<\/p>\n<p>One of them noted that bitcoin could hold above $9,800 for a while. But if the level fails as support, the cryptocurrency could extend its downside momentum by another $1,000. As shown in the chart above, bitcoin broke below the $9,800-support in the early morning London trade Thursday.<\/p>\n<h2>First $9,200, Then $8,800<\/h2>\n<p>The pseudonymous analyst highlighted Bitcoin&#8217;s extended move below $9,800 could first test $9,200 as its potential bounce-back level. The horizontal line \u2013 so far in June 2020 \u2013 served as a <a href=\"https:\/\/wncen.com\/2020\/05\/24\/nearly-20-million-of-bitmex-longs-liquidated-as-bitcoin-tumbles-below-8800\/\">crucial support<\/a> to Bitcoin&#8217;s repeated pullbacks from $10,000.<\/p>\n<figure id=\"attachment_427045\" aria-describedby=\"caption-attachment-427045\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-6.png\" target=\"_blank\" rel=\"noopener \"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427045 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-6.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427045\" class=\"wp-caption-text\">BTCUSD potential support levels after $10,000-rejection | Source: <a href=\"https:\/\/twitter.com\/CredibleCrypto\/status\/17915137\" target=\"_blank\" rel=\"noopener nofollow\">Credible Crypto<\/a><\/figcaption><\/figure>\n<p>Failure to hold $9,200 would expose Bitcoin to retest $8,800, a level that capped the cryptocurrency from extending its pullbacks throughout April 2020 and May 2020.<\/p>\n<p>&#8220;If 9.8k fails here, [it] might be time to complete the final leg of this flat,&#8221; the analyst wrote, adding that the support levels could allow traders to recoup back towards $10,000. Excerpts:<\/p>\n<blockquote><p>&#8220;It will likely be the last time you will get a chance to buy sub 10k for a while. Because after this flat completes, we should FINALLY take out 10.5k and push onwards above $14K.&#8221;<\/p><\/blockquote>\n<p>Prominent analyst <a href=\"https:\/\/wncen.com\/2020\/06\/04\/bitcoins-monthly-open-points-to-fomo\/\">Mohit Sorout<\/a> also made a similar prediction earlier Thursday. The India-based cryptocurrency trader said that there is evidence of high buying interest among traders near $9,445 and $8,622.<\/p>\n<figure id=\"attachment_427046\" aria-describedby=\"caption-attachment-427046\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-3.png\" target=\"_blank\" rel=\"noopener \"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427046 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-11062020-3.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427046\" class=\"wp-caption-text\">BTCUSD testing $9,445 and $8,632 as supports | Source: <a href=\"https:\/\/twitter.com\/singhsoro\/status\/18216449\" target=\"_blank\" rel=\"noopener nofollow\">Mohit Sorout<\/a><\/figcaption><\/figure>\n<blockquote><p>&#8220;This level got front run on recent dumps,&#8221; said Mr. Sorout. &#8220;Sellers just don&#8217;t have what it takes to push price down. Longed.&#8221;<\/p><\/blockquote>\n<h2>The $10K Bitcoin Glitch<\/h2>\n<p>Bitcoin&#8217;s $10,000-level has become a battleground for spot and derivative traders. While the retail-demand pushes the cryptocurrency spot rate towards the six-figure valuation, it stays above the level only for a brief period. Part of the reason is over-leveraged buy liquidations near $10,000.<\/p>\n<p>It happened on Wednesday. As spot bitcoin closed above $10,000, it ended up causing a $15 million buy liquidation. That means derivative traders did not expect the price to breach the resistance level and, therefore, closed their short positions forcibly.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Multiple significant <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> inflows from <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Binance<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/BItMEX?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BItMEX<\/a> a few hours before the dip <a href=\"https:\/\/t.co\/Dynu2t2Ean\" rel=\"nofollow\">pic.twitter.com\/Dynu2t2Ean<\/a><\/p>\n<p>&mdash; Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/06278400?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 2, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The same happened on June 2, wherein BitMEX liquidated $133 million worth of buy liquidations.<\/p>\n<p>Nevertheless, Chris Thomas of Swiss Quote Bank believes that bitcoin will overcome the glitch to attempt a close above $10,500. The\u00a0head of digital assets <a href=\"https:\/\/www.livebitcoinnews.com\/btcs-brief-rise-to-10k-proves-big-for-bitmex\/\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a>:<\/p>\n<p>&#8220;There\u2019s a little resistance around $10,500, then our next targets are $12,300 and $13,000.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency&#8217;s sharp pullback from the crucial resistance level has raised its possibilities of falling towards $8,800. One prominent analyst sees the breakdown as an opportunity to launch a bull run above $10,000. Bitcoin could be at risk of crashing towards $8,800 this month, according to a pseudonymous analyst. The downside prediction came after the cryptocurrency&#8217;s latest failed attempt at breaking above $10,000. On Wednesday, the BTC\/USD exchange rate briefly closed above the said resistance level. Nevertheless, the pair shed gains quickly after topping near $10,018, falling by more than $300 within just five minutes. It was Bitcoin&#8217;s sixteenth attempt at closing above $10,000 since February 2020. The cryptocurrency&#8217;s repeated failure to establish a bullish bias in the six-figure range led some analysts to predict a breakdown scenario. One of them noted that bitcoin could hold above $9,800 for a while. But if the level fails as support, the cryptocurrency could extend its downside momentum by another $1,000. As shown in the chart above, bitcoin broke below the $9,800-support in the early morning London trade Thursday. First $9,200, Then $8,800 The pseudonymous analyst highlighted Bitcoin&#8217;s extended move below $9,800 could first test $9,200 as its potential bounce-back level. The horizontal line \u2013 so far in June 2020 \u2013 served as a crucial support to Bitcoin&#8217;s repeated pullbacks from $10,000. Failure to hold $9,200 would expose Bitcoin to retest $8,800, a level that capped the cryptocurrency from extending its pullbacks throughout April 2020 and May 2020. &#8220;If 9.8k fails here, [it] might be time to complete the final leg of this flat,&#8221; the analyst wrote, adding that the support levels could allow traders to recoup back towards $10,000. Excerpts: &#8220;It will likely be the last time you will get a chance to buy sub 10k for a while. Because after this flat completes, we should FINALLY take out 10.5k and push onwards above $14K.&#8221; Prominent analyst Mohit Sorout also made a similar prediction earlier Thursday. The India-based cryptocurrency trader said that there is evidence of high buying interest among traders near $9,445 and $8,622. &#8220;This level got front run on recent dumps,&#8221; said Mr. Sorout. &#8220;Sellers just don&#8217;t have what it takes to push price down. Longed.&#8221; The $10K Bitcoin Glitch Bitcoin&#8217;s $10,000-level has become a battleground for spot and derivative traders. While the retail-demand pushes the cryptocurrency spot rate towards the six-figure valuation, it stays above the level only for a brief period. Part of the reason is over-leveraged buy liquidations near $10,000. It happened on Wednesday. As spot bitcoin closed above $10,000, it ended up causing a $15 million buy liquidation. That means derivative traders did not expect the price to breach the resistance level and, therefore, closed their short positions forcibly. Multiple significant #BTC inflows from #Binance and #BItMEX a few hours before the dip pic.twitter.com\/Dynu2t2Ean &mdash; Ki Young Ju (@ki_young_ju) June 2, 2020 The same happened on June 2, wherein BitMEX liquidated $133 million worth of buy liquidations. Nevertheless, Chris Thomas of Swiss Quote Bank believes that bitcoin will overcome the glitch to attempt a close above $10,500. The\u00a0head of digital assets said: &#8220;There\u2019s a little resistance around $10,500, then our next targets are $12,300 and $13,000.&#8221;<\/p>\n","protected":false},"author":50,"featured_media":427047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,1558,76835],"class_list":["post-427030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-cryptocurrency","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency&#039;s sharp pullback from the crucial resistance level\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#039;s Why\" \/>\n<meta property=\"og:description\" content=\"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency&#039;s sharp pullback from the crucial resistance level\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\" \/>\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=\"2020-06-11T11:00:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T09:44:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1920\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yashu Gola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yashu Gola\" \/>\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:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\"},\"author\":{\"name\":\"Yashu Gola\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f\"},\"headline\":\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why\",\"datePublished\":\"2020-06-11T11:00:42+00:00\",\"dateModified\":\"2024-06-11T09:44:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\"},\"wordCount\":563,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\",\"keywords\":[\"bitcoin\",\"btcusd\",\"BTCUSDT\",\"cryptocurrency\",\"xbtusd\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\",\"Technical analysis\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\",\"url\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\",\"name\":\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\",\"datePublished\":\"2020-06-11T11:00:42+00:00\",\"dateModified\":\"2024-06-11T09:44:06+00:00\",\"description\":\"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency's sharp pullback from the crucial resistance level\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\",\"width\":2560,\"height\":1920,\"caption\":\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f\",\"name\":\"Yashu Gola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/28bbfac767d31469cf5062a0d68508d3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/28bbfac767d31469cf5062a0d68508d3?s=96&d=mm&r=g\",\"caption\":\"Yashu Gola\"},\"description\":\"Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 \u2013 and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.\",\"url\":\"https:\/\/wncen.com\/author\/gola-yashu\/\"}]}<\/script>\n","yoast_head_json":{"title":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why","description":"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency's sharp pullback from the crucial resistance level","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:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","og_locale":"en_US","og_type":"article","og_title":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why","og_description":"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency's sharp pullback from the crucial resistance level","og_url":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-06-11T11:00:42+00:00","article_modified_time":"2024-06-11T09:44:06+00:00","og_image":[{"width":2560,"height":1920,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","type":"image\/jpeg"}],"author":"Yashu Gola","twitter_card":"summary_large_image","twitter_creator":"@newsbtc","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Yashu Gola","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/"},"author":{"name":"Yashu Gola","@id":"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f"},"headline":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why","datePublished":"2020-06-11T11:00:42+00:00","dateModified":"2024-06-11T09:44:06+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/"},"wordCount":563,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","keywords":["bitcoin","btcusd","BTCUSDT","cryptocurrency","xbtusd"],"articleSection":["Bitcoin","Cryptocurrency Market News","Technical analysis"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","url":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","name":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","datePublished":"2020-06-11T11:00:42+00:00","dateModified":"2024-06-11T09:44:06+00:00","description":"Bitcoin failed at yet another attempt to break bullish above $10,000 on Wednesday. The cryptocurrency's sharp pullback from the crucial resistance level","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","width":2560,"height":1920,"caption":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here's Why"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f","name":"Yashu Gola","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/28bbfac767d31469cf5062a0d68508d3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/28bbfac767d31469cf5062a0d68508d3?s=96&d=mm&r=g","caption":"Yashu Gola"},"description":"Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 \u2013 and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.","url":"https:\/\/wncen.com\/author\/gola-yashu\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why","url":"http:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Yashu Gola"}],"creator":["Yashu Gola"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","cryptocurrency","xbtusd"],"dateCreated":"2020-06-11T11:00:42Z","datePublished":"2020-06-11T11:00:42Z","dateModified":"2024-06-11T09:44:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"A Bitcoin Crash Towards $8.8K Likely Before Price Breaks $10K; Here&#8217;s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/a-bitcoin-crash-towards-8-8k-likely-before-price-breaks-10k-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_696619960-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Yashu Gola\"}],\"creator\":[\"Yashu Gola\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"cryptocurrency\",\"xbtusd\"],\"dateCreated\":\"2020-06-11T11:00:42Z\",\"datePublished\":\"2020-06-11T11:00:42Z\",\"dateModified\":\"2024-06-11T09:44:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_696619960-scaled.jpg?fit=2560%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427030"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=427030"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/427047"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=427030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=427030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=427030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}