Is the Bitcoin Crash over? Or will Bitcoin price reach $10,000?

After a brief consolidation, most crypto enthusiasts expected crypto prices to recover. However, this did not occur as the crypto market continued its bearish trend. Crypto prices have been on a decline since November 2021 with no sign of ending. However, Bitcoin prices reached an important area that might send prices upwards again. Is Bitcoin crash over? Will BTC prices go back up or will Bitcoin price reach $10,000? In this Bitcoin price prediction article, we analyze Bitcoin prices from a technical perspective and assess what might happen soon.

Bitcoin price lost -50% YTD: What happened?

The year 2022 started on a bad note. After Bitcoin reached an all-time high price of $69,500, prices retraced heavily down to $47,000. From there, prices slowly started to fall and went on a bearish trend. In a previous article, we predicted a crash in Bitcoin prices towards $20,000-22,000 as prices managed to breach the strong support of $28,000. This is exactly what happened, as current prices are sitting around $22,300.

Why is Bitcoin crashing?

There are many factors that contributed to the decline in cryptocurrency prices. Since Bitcoin has a relatively high dominance over the cryptocurrency market, it is natural that Bitcoin leads the way in the bearish trend. However, there are many fundamental factors that also contribute to the overall decline:

Bitcoin Price Prediction – is Bitcoin crash over?

It is still very early to say that the crypto crash and Bitcoin’s crash in specific is over. Usually, in order to assess whether a crash ended, we need many technical confirmations. The first one would be a consolidation around a key price area. For Bitcoin, if the crash was to end, we will see in the coming days or even weeks a consolidation around the current price of $22,000.

Additionally, we will see small green days bringing crypto prices slightly higher and breaking the downtrend line. In figure 2, we can see that this yellow line can signal a halt to the downtrend after a medium-term consolidation.

Will Bitcoin Price reach 10,000 $?

On the flip side, if prices fail to consolidate higher than the $20,000 price mark, they will most likely break this support price lower and reach the next support areas delimited by the following important prices:

  • $15,500
  • $12,000
  • $10,000


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
On Key

Related Posts

Top 3 Reasons why the current Crypto Crash is a GOOD THING!

The cryptocurrency market has been crashing since November 2021. Bitcoin and Ethereum fell from their respective all-time high prices of $69,700 and $4,850. Despite all the negative sentiment in the market, many other crypto enthusiasts are looking forward to the end of this dark tunnel. Are there any benefits to this crashing crypto market? In

Will Bitcoin Price reach $10,000? Very Possible, Here’s why!

It seems like the crypto crash is still going strong. After a slight rebound upwards, most cryptos tanked again, losing more than 3% in the past 24 hours alone. Bitcoin should’ve kept its $20,000 price mark intact. However, BTC just breached this area for the second time, raising the alarm for crypto investors. Now that