{"id":427171,"date":"2020-06-12T11:00:34","date_gmt":"2020-06-12T11:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=427171"},"modified":"2024-06-11T14:03:53","modified_gmt":"2024-06-11T14:03:53","slug":"70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","title":{"rendered":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#8217;s Why"},"content":{"rendered":"<ul>\n<li>Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday&#8217;s sell-off.<\/li>\n<li>The cryptocurrency retraced upward from a convincing support trendline.<\/li>\n<li>It now appears to be trending inside a technical pattern, which has a 70 percent success rate in sending prices higher.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/wncen.com\/2020\/06\/12\/massive-bitcoin-buy-wall-9000s-bullish\/\">Bitcoin rallied<\/a> a day after experiencing a significant sell-off that sent its price down by 6.33 percent.<\/p>\n<p>The benchmark cryptocurrency surged 1.96 percent to $9,449 as traders bought the intraday dip. The pullback move appeared near a short-term ascending trendline: this upward slope has repeatedly capped bitcoin&#8217;s downtrend attempts from flourishing into more massive breakdown actions.<\/p>\n<figure id=\"attachment_427176\" aria-describedby=\"caption-attachment-427176\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-3.png\"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427176 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-3.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, crypto\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427176\" class=\"wp-caption-text\">BTCUSD jumps after testing a short-term technical support | Source: TradingView.com, Coinbase<\/figcaption><\/figure>\n<p>Earlier this week, the bitcoin price was looking to <a href=\"https:\/\/wncen.com\/2020\/06\/12\/bitcoin-price-melt-faces-surges-10000\/\">break above the horizontal trendline<\/a> (red) in the chart above. That price ceiling sits roughly near $10,000, a level that has stopped bitcoin from attaining a full-fledged breakout since February 2020.<\/p>\n<p>Looking at both the rising and the horizontal trendline together makes an Ascending Triangle. Technically, the pattern forms during an asset&#8217;s uptrend continuation. It is typically a bullish indicator, with a 70 percent success rate in sending the asset&#8217;s price higher.<\/p>\n<h2>Bitcoin Retesting $10,000<\/h2>\n<p>Bitcoin&#8217;s latest retracement from $10,000 landed the price right near the Ascending Triangle support. Traders convincingly validated the trendline as their place of accumulation as the price rose higher. The price action overall raised bitcoin&#8217;s possibility of retesting the horizontal resistance at $10,000.<\/p>\n<p>At least that is what an Ascending Triangle indicates. The asset fluctuates between its ranges unless it nears or hits the pattern&#8217;s apex \u2013 where the trendlines converge. Then, 7 out of ten times, it breaks bullish above the resistance.<\/p>\n<figure id=\"attachment_427177\" aria-describedby=\"caption-attachment-427177\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/asctri-conti-wag.png\" target=\"_blank\" rel=\"noopener \"><img data-recalc-dims=\"1\" height=\"460\" width=\"460\" decoding=\"async\" class=\"size-medium wp-image-427177\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/asctri-conti-wag.png?fit=460%2C460\" alt=\"ascending triangle, bitcoin\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427177\" class=\"wp-caption-text\">Example of Ascending Trendline breakout | Source: <a href=\"https:\/\/school.stockcharts.com\/doku.php?id=chart_analysis:chart_patterns:ascending_triangle_continuation\" target=\"_blank\" rel=\"noopener nofollow\">StockCharts.com<\/a><\/figcaption><\/figure>\n<p>Bitcoin&#8217;s current moves fit the description of an <a href=\"https:\/\/wncen.com\/2020\/04\/22\/bullish-ascending-triangle-formation-breakout-takes-bitcoin-back-above-7000\/\">Ascending Triangle<\/a> so far. Meanwhile, its daily volume is falling as price rises overall, which further hints at a potential breakout as the cryptocurrency nears the Triangle&#8217;s apex.<\/p>\n<figure id=\"attachment_427178\" aria-describedby=\"caption-attachment-427178\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-4.png\" target=\"_blank\" rel=\"noopener \"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427178 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-4.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, crypto\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427178\" class=\"wp-caption-text\">BTCUSD breakout targets | Source: TradingView.com, Coinbase<\/figcaption><\/figure>\n<p>Under ideal circumstances, Bitcoin should break to the upside by as much as the maximum height of the Triangle. That is roughly $1,800. It means Bitcoin could go as far as $11,800 should the Ascending Triangle stays true to its technical description.<\/p>\n<p>Meanwhile, the pattern could also lead the price down below the Triangle support. Such a breakdown move would land the price down by at most $1,800. That roughly puts Bitcoin&#8217;s downside target between $7,352 and $8,185, measured from the point of negative breakout.<\/p>\n<h2>The Fundamental Mix<\/h2>\n<p>Bitcoin&#8217;s short-term price actions are also mirroring moves of the U.S. stocks. Its sell-off on Thursday coincided with <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-6-12-4?mod=markets_lead_pos1\" target=\"_blank\" rel=\"noopener nofollow\">similar drops across the Dow Jones, the Nasdaq Composite, and the benchmark S&amp;P 500<\/a>.<\/p>\n<p>The U.S. stock market suffered because of the Federal Reserve&#8217;s warning about a slower-than-expected economic growth, bulldozed further with slower recovery in the job sector. Both stocks and Bitcoin were rallying since March, buoyed by <a href=\"https:\/\/wncen.com\/2020\/05\/14\/bitcoin-gets-massive-boost-democrats-propose-3-trillion-extra-stimulus\/\">Fed&#8217;s aggressive stimulus measures<\/a>.<\/p>\n<p>On Friday, the U.S. stocks pared part of its recent losses, with the S&amp;P 500 futures hinting to open the day 1 percent higher. Bitcoin, like a true correlated asset, surged in tandem.<\/p>\n<figure id=\"attachment_427181\" aria-describedby=\"caption-attachment-427181\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-6.png\" target=\"_blank\" rel=\"noopener \"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"wp-image-427181 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-price-12062020-6.png?fit=860%2C860\" alt=\"bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, crypto\" loading=\"lazy\"><\/a><figcaption id=\"caption-attachment-427181\" class=\"wp-caption-text\">Correlation between Bitcoin and the S&amp;P 500 | Source: TradingView.com, Coinbase<\/figcaption><\/figure>\n<p>The mounting influence of Wall Street on Bitcoin could spoil the Ascending Channel narrative. Nevertheless, the correlation could break if the market decides to hedge into bitcoin against the stock market. Some investors, including veteran hedge fund manager <a href=\"https:\/\/wncen.com\/2020\/06\/11\/tudor-jones-inflation-bitcoin\/\">Paul Tudor Jones<\/a>, have followed a similar strategy lately.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday&#8217;s sell-off. The cryptocurrency retraced upward from a convincing support trendline. It now appears to be trending inside a technical pattern, which has a 70 percent success rate in sending prices higher. Bitcoin rallied a day after experiencing a significant sell-off that sent its price down by 6.33 percent. The benchmark cryptocurrency surged 1.96 percent to $9,449 as traders bought the intraday dip. The pullback move appeared near a short-term ascending trendline: this upward slope has repeatedly capped bitcoin&#8217;s downtrend attempts from flourishing into more massive breakdown actions. Earlier this week, the bitcoin price was looking to break above the horizontal trendline (red) in the chart above. That price ceiling sits roughly near $10,000, a level that has stopped bitcoin from attaining a full-fledged breakout since February 2020. Looking at both the rising and the horizontal trendline together makes an Ascending Triangle. Technically, the pattern forms during an asset&#8217;s uptrend continuation. It is typically a bullish indicator, with a 70 percent success rate in sending the asset&#8217;s price higher. Bitcoin Retesting $10,000 Bitcoin&#8217;s latest retracement from $10,000 landed the price right near the Ascending Triangle support. Traders convincingly validated the trendline as their place of accumulation as the price rose higher. The price action overall raised bitcoin&#8217;s possibility of retesting the horizontal resistance at $10,000. At least that is what an Ascending Triangle indicates. The asset fluctuates between its ranges unless it nears or hits the pattern&#8217;s apex \u2013 where the trendlines converge. Then, 7 out of ten times, it breaks bullish above the resistance. Bitcoin&#8217;s current moves fit the description of an Ascending Triangle so far. Meanwhile, its daily volume is falling as price rises overall, which further hints at a potential breakout as the cryptocurrency nears the Triangle&#8217;s apex. Under ideal circumstances, Bitcoin should break to the upside by as much as the maximum height of the Triangle. That is roughly $1,800. It means Bitcoin could go as far as $11,800 should the Ascending Triangle stays true to its technical description. Meanwhile, the pattern could also lead the price down below the Triangle support. Such a breakdown move would land the price down by at most $1,800. That roughly puts Bitcoin&#8217;s downside target between $7,352 and $8,185, measured from the point of negative breakout. The Fundamental Mix Bitcoin&#8217;s short-term price actions are also mirroring moves of the U.S. stocks. Its sell-off on Thursday coincided with similar drops across the Dow Jones, the Nasdaq Composite, and the benchmark S&amp;P 500. The U.S. stock market suffered because of the Federal Reserve&#8217;s warning about a slower-than-expected economic growth, bulldozed further with slower recovery in the job sector. Both stocks and Bitcoin were rallying since March, buoyed by Fed&#8217;s aggressive stimulus measures. On Friday, the U.S. stocks pared part of its recent losses, with the S&amp;P 500 futures hinting to open the day 1 percent higher. Bitcoin, like a true correlated asset, surged in tandem. The mounting influence of Wall Street on Bitcoin could spoil the Ascending Channel narrative. Nevertheless, the correlation could break if the market decides to hedge into bitcoin against the stock market. Some investors, including veteran hedge fund manager Paul Tudor Jones, have followed a similar strategy lately.<\/p>\n","protected":false},"author":50,"featured_media":427182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,6664,1558,76835],"class_list":["post-427171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-crypto","tag-cryptocurrency","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday&#039;s sell-off. The cryptocurrency retraced upward from a\" \/>\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\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#039;s Why\" \/>\n<meta property=\"og:description\" content=\"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday&#039;s sell-off. The cryptocurrency retraced upward from a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-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=\"2020-06-12T11:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:03:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\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\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\"},\"author\":{\"name\":\"Yashu Gola\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f\"},\"headline\":\"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#8217;s Why\",\"datePublished\":\"2020-06-12T11:00:34+00:00\",\"dateModified\":\"2024-06-11T14:03:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\"},\"wordCount\":619,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667\",\"keywords\":[\"bitcoin\",\"btcusd\",\"BTCUSDT\",\"crypto\",\"cryptocurrency\",\"xbtusd\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\",\"url\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\",\"name\":\"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667\",\"datePublished\":\"2020-06-12T11:00:34+00:00\",\"dateModified\":\"2024-06-11T14:03:53+00:00\",\"description\":\"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday's sell-off. The cryptocurrency retraced upward from a\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667\",\"width\":1000,\"height\":667,\"caption\":\"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"70% Chance Bitcoin Reclaims $11.8K by July 2020; 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":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why","description":"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday's sell-off. The cryptocurrency retraced upward from a","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\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","og_locale":"en_US","og_type":"article","og_title":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why","og_description":"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday's sell-off. The cryptocurrency retraced upward from a","og_url":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-06-12T11:00:34+00:00","article_modified_time":"2024-06-11T14:03:53+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667","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\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/"},"author":{"name":"Yashu Gola","@id":"https:\/\/wncen.com\/#\/schema\/person\/5525937b173cfbe70c9793968201315f"},"headline":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#8217;s Why","datePublished":"2020-06-12T11:00:34+00:00","dateModified":"2024-06-11T14:03:53+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/"},"wordCount":619,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667","keywords":["bitcoin","btcusd","BTCUSDT","crypto","cryptocurrency","xbtusd"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","url":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","name":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667","datePublished":"2020-06-12T11:00:34+00:00","dateModified":"2024-06-11T14:03:53+00:00","description":"Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday's sell-off. The cryptocurrency retraced upward from a","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667","width":1000,"height":667,"caption":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here's Why"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"70% Chance Bitcoin Reclaims $11.8K by July 2020; 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":"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#8217;s Why","url":"http:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_355786172.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","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","crypto","cryptocurrency","xbtusd"],"dateCreated":"2020-06-12T11:00:34Z","datePublished":"2020-06-12T11:00:34Z","dateModified":"2024-06-11T14:03:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"70% Chance Bitcoin Reclaims $11.8K by July 2020; Here&#8217;s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_355786172.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_355786172.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"crypto\",\"cryptocurrency\",\"xbtusd\"],\"dateCreated\":\"2020-06-12T11:00:34Z\",\"datePublished\":\"2020-06-12T11:00:34Z\",\"dateModified\":\"2024-06-11T14:03:53Z\"}<\/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_355786172.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427171","targetHints":{"allow":["GET"]}}],"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=427171"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/427182"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=427171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=427171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=427171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}