{"id":635486,"date":"2024-08-14T17:30:48","date_gmt":"2024-08-14T17:30:48","guid":{"rendered":"https:\/\/wncen.com\/?p=635486"},"modified":"2024-08-14T16:09:49","modified_gmt":"2024-08-14T16:09:49","slug":"bitcoin-price-return-to-20000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-return-to-20000\/","title":{"rendered":"Will The Bitcoin Price Return To $20,000? Crypto Analyst Provides Answers"},"content":{"rendered":"

Bitcoin has not been in the $20,000 range going on two years now and some believe that the pioneer cryptocurrency will never revisit this level again. However, according to one analyst, the Bitcoin price<\/a> falling back to $20,000 is a matter of when, not if. While they do not expect that this crash will happen anytime soon<\/a>, they have warned that the possibility should not be ruled out at this point.<\/p>\n

Bitcoin Price Could Go For $20,000<\/h2>\n

Crypto analyst \u201cWithout Worries\u201d, in a new analysis<\/a> on the TradingView website, has outlined the possibility for the Bitcoin price to crash to $20,000 once again. The analysis focuses on the Bitcoin price on the 3-week chart, which showed some interesting insights into the movement of the digital asset.<\/p>\n

Related Reading: Analyst Says XRP Price Will Rally 10,400% To $60, Here\u2019s When<\/a><\/div>\n

According to the crypto analyst, there are some important events that have taken place, giving birth to the expectation that this will happen. One of these has to do with the Stochastics RSI that has made some notable moves. As the crypto analyst points out, the Stochastic RSI had moved above 80 and then eventually crossed back down to 50.<\/p>\n

This move in the Stochastic RSI, which happens to be one of the most important indicators of bull and bear cycles<\/a>, shows resistance is building. At this point, the analyst advises investors to watch out for confirmation of resistance that could signal the start of the downtrend.<\/p>\n

Looking back, the crypto analyst revealed that resistance had previously appeared back in 2018 and 2019. What followed was a downtrend. Then again, in 2021, the resistance appeared, and each time, there was an average 70% decline following the resistance.<\/p>\n

If this resistance were to reappear, then historical performance would suggest that the Bitcoin price would follow the same trend. In that case, a 70% decline from the current all-time high price would mean that the BTC price<\/a> does return to the $20,000 level once again. However, this is months away from playing out, according to the analyst.<\/p>\n

Will BTC Rally Into 2025?<\/h2>\n

Touching on the topic of the Bitcoin bull run<\/a> continuing into the year 2025, the crypto analyst does not believe this is possible. He believes that with so many calls for the pioneer cryptocurrency to reach new peaks, it is not going to happen.<\/p>\n

Related Reading: Ethereum Price Ready For 75% Breakout To $4,723, Here\u2019s Why<\/a><\/div>\n

However, the analyst does not believe that the market has topped at this point. They point out that the market is still in fear, which is not an ideal time for the market to reach its top. Instead, the top will come when the market is in euphoria. \u201cWhen this RSI resistance confirms, there will be no long opportunities in the market until 2027 at the earliest,\u201d the analyst said in closing.<\/p>\n

\"Bitcoin
BTC price struggles with bears | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has not been in the $20,000 range going on two years now and some believe that the pioneer cryptocurrency will never revisit this level again. However, according to one analyst, the Bitcoin price falling back to $20,000 is a matter of when, not if. While they do not expect that this crash will happen anytime soon, they have warned that the possibility should not be ruled out at this point. Bitcoin Price Could Go For $20,000 Crypto analyst \u201cWithout Worries\u201d, in a new analysis on the TradingView website, has outlined the possibility for the Bitcoin price to crash to $20,000 once again. The analysis focuses on the Bitcoin price on the 3-week chart, which showed some interesting insights into the movement of the digital asset. Related Reading: Analyst Says XRP Price Will Rally 10,400% To $60, Here\u2019s When According to the crypto analyst, there are some important events that have taken place, giving birth to the expectation that this will happen. One of these has to do with the Stochastics RSI that has made some notable moves. As the crypto analyst points out, the Stochastic RSI had moved above 80 and then eventually crossed back down to 50. This move in the Stochastic RSI, which happens to be one of the most important indicators of bull and bear cycles, shows resistance is building. At this point, the analyst advises investors to watch out for confirmation of resistance that could signal the start of the downtrend. Looking back, the crypto analyst revealed that resistance had previously appeared back in 2018 and 2019. What followed was a downtrend. Then again, in 2021, the resistance appeared, and each time, there was an average 70% decline following the resistance. If this resistance were to reappear, then historical performance would suggest that the Bitcoin price would follow the same trend. In that case, a 70% decline from the current all-time high price would mean that the BTC price does return to the $20,000 level once again. However, this is months away from playing out, according to the analyst. Will BTC Rally Into 2025? Touching on the topic of the Bitcoin bull run continuing into the year 2025, the crypto analyst does not believe this is possible. He believes that with so many calls for the pioneer cryptocurrency to reach new peaks, it is not going to happen. Related Reading: Ethereum Price Ready For 75% Breakout To $4,723, Here\u2019s Why However, the analyst does not believe that the market has topped at this point. They point out that the market is still in fear, which is not an ideal time for the market to reach its top. Instead, the top will come when the market is in euphoria. \u201cWhen this RSI resistance confirms, there will be no long opportunities in the market until 2027 at the earliest,\u201d the analyst said in closing. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":635493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-635486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nWill The Bitcoin Price Return To $20,000? 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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":"Will The Bitcoin Price Return To $20,000? 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