{"id":612000,"date":"2024-06-08T02:30:35","date_gmt":"2024-06-08T02:30:35","guid":{"rendered":"https:\/\/wncen.com\/?p=612000"},"modified":"2024-06-11T07:42:09","modified_gmt":"2024-06-11T07:42:09","slug":"bitcoin-crash-below-50000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/","title":{"rendered":"Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities"},"content":{"rendered":"<p class=\"p2\">The Bitcoin price has stalled <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-surges-past-71000-but-td-sequential-sell\/\">after hitting the $71,000 level<\/a>, floating in what is essentially a limbo of indecisiveness. Naturally, periods like these act as a predecessor to a massive move, but what direction the price might be headed in is another thing entirely. In an effort to pinpoint <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-coinbase-premium\/\">where Bitcoin is going<\/a>, crypto analyst Alan Santana has analyzed the Bitcoin chart and come up with a possible direction.<\/p>\n<h2 class=\"p2\">Bitcoin Could Be Headed Downward<\/h2>\n<p class=\"p2\">Alan Santana\u2019s <a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSDT\/6GgFCCPE-Are-We-Still-Expecting-A-Correction\/\" rel=\"nofollow\">analysis<\/a> looks at the Bitcoin performance over the past year in a bid to tell where the price might be headed. As the analyst points out, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-dips-again-70k\/\">the Bitcoin price<\/a> has been in a bullish wave for more than one year, 479 days to be exact, since November 2022 through to March 2024.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/inverted-hammer-xrp-price-chart\/\">Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75<\/a><\/div>\n<p class=\"p2\">Naturally, when bullish waves like these last for so long, it is expected that there will be a crash downward as investors begin to sell off their holdings. The problem is that bearish waves after a bullish wave move faster, and with the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-climbs-70k\/\">bullish wave<\/a> lasting for 16 months, the bearish wave is expected to unravel quickly. As the crypto analyst points out, it is often 2x or 2.5x faster than the bullish wave.<\/p>\n<p class=\"p2\">Explaining the reason behind this, Alan Santana said that, \u201cWhen the market is rising, people are buying, slowly but surely, building up a position and enjoying the market and profits as everything grows. This is not the case when the market turns.\u201d<\/p>\n<p class=\"p2\">He further explains that \u201cWhen a correction happens, people either prepare in advance or sell when they realize that the upward potential has been exhausted. So instead of \u2018building a position,\u2019 when the majority of players realize that the wave is over they tend to close the entire position, and thus, the down move can really speed up, and that&#8217;s why the down move is faster than when prices grow.\u201d<\/p>\n<p class=\"p2\">Given this, the crypto analyst expects the bearish wave to come with a sharp crash for Bitcoin. This, by extension, would affect the rest of the market, which is known to suffer more than Bitcoin.<\/p>\n<h2 class=\"p2\">Where Is The BTC Price Headed From Here?<\/h2>\n<p class=\"p2\">In the bearish wave expected by the crypto analyst, he believes that the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-surge-to-71000\/\">Bitcoin price could crash<\/a> more than 30% from its current price of $71,000. The chart shows a possible initial crash down to the $60,000 levels, and then he expects it to continue further.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-global-liquidity-100\/\">Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH<\/a><\/div>\n<p class=\"p2\">At the bottom of this crash is the $47,943 level, presumably where the analyst expects the crash to end. If this does happen, then the <a href=\"https:\/\/wncen.com\/news\/crypto-on-watch-will-ecb-rate-cut-fuel-bitcoin-rally\/\">BTC price<\/a> could be looking at an approximately 33% crash, something that could be incredibly bearish for the market.<\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/tagvkPGI\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">BTC price falls below $70,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price has stalled after hitting the $71,000 level, floating in what is essentially a limbo of indecisiveness. Naturally, periods like these act as a predecessor to a massive move, but what direction the price might be headed in is another thing entirely. In an effort to pinpoint where Bitcoin is going, crypto analyst Alan Santana has analyzed the Bitcoin chart and come up with a possible direction. Bitcoin Could Be Headed Downward Alan Santana\u2019s analysis looks at the Bitcoin performance over the past year in a bid to tell where the price might be headed. As the analyst points out, the Bitcoin price has been in a bullish wave for more than one year, 479 days to be exact, since November 2022 through to March 2024. Related Reading: Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75 Naturally, when bullish waves like these last for so long, it is expected that there will be a crash downward as investors begin to sell off their holdings. The problem is that bearish waves after a bullish wave move faster, and with the bullish wave lasting for 16 months, the bearish wave is expected to unravel quickly. As the crypto analyst points out, it is often 2x or 2.5x faster than the bullish wave. Explaining the reason behind this, Alan Santana said that, \u201cWhen the market is rising, people are buying, slowly but surely, building up a position and enjoying the market and profits as everything grows. This is not the case when the market turns.\u201d He further explains that \u201cWhen a correction happens, people either prepare in advance or sell when they realize that the upward potential has been exhausted. So instead of \u2018building a position,\u2019 when the majority of players realize that the wave is over they tend to close the entire position, and thus, the down move can really speed up, and that&#8217;s why the down move is faster than when prices grow.\u201d Given this, the crypto analyst expects the bearish wave to come with a sharp crash for Bitcoin. This, by extension, would affect the rest of the market, which is known to suffer more than Bitcoin. Where Is The BTC Price Headed From Here? In the bearish wave expected by the crypto analyst, he believes that the Bitcoin price could crash more than 30% from its current price of $71,000. The chart shows a possible initial crash down to the $60,000 levels, and then he expects it to continue further. Related Reading: Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH At the bottom of this crash is the $47,943 level, presumably where the analyst expects the crash to end. If this does happen, then the BTC price could be looking at an approximately 33% crash, something that could be incredibly bearish for the market. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":612001,"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":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-612000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities<\/title>\n<meta name=\"description\" content=\"The Bitcoin price has stalled after hitting the $71,000 level, floating in what is essentially a limbo of indecisiveness.\" \/>\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\/bitcoin-crash-below-50000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is A Bitcoin Crash Below $50,000 Still Possible? 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Crypto Analyst Shares The Possibilities\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_51cdf6.jpeg?fit=1024%2C1024\",\"datePublished\":\"2024-06-08T02:30:35+00:00\",\"dateModified\":\"2024-06-11T07:42:09+00:00\",\"description\":\"The Bitcoin price has stalled after hitting the $71,000 level, floating in what is essentially a limbo of indecisiveness.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_51cdf6.jpeg?fit=1024%2C1024\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_51cdf6.jpeg?fit=1024%2C1024\",\"width\":1024,\"height\":1024,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-crash-below-50000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Is A Bitcoin Crash Below $50,000 Still Possible? 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is A Bitcoin Crash Below $50,000 Still Possible? 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