• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin
Nexo

Bitcoin Could Have Seen Its Last Ever Dip Below $10k

Emilio Janus by Emilio Janus
3 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0
Advertisement

The past week saw bitcoin price pull-back 30%, and then quickly recover. But historical analysis suggests we may have seen the end of the sub-$10k bitcoin for good.


Pullbacks During Bitcoin Bull Runs

While the recent pullback from 2019 highs may have been concerning for some, a look back through bitcoin price history shows that they are actually pretty commonplace.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

From mid-2015 through to the December 2017 all-time high, there were 8 such pullbacks occurring every 98 days on average. Each of these was followed by a new surging uptrend, which eventually drove BTC to $20,000.

Bitcoin just had its first >30% pullback, down from $13,850.

There were 8 pullbacks of this magnitude in the last bull market with an average of 98 days between them.

This could be the last dip until November. #bitcoin

Chart credit @Josh_Rager pic.twitter.com/qadQyd5bvb

— James Todaro (@JamesTodaroMD) July 2, 2019

As pointed out by Blocktown Capital managing partner, James Todaro, this could mean that we may have seen the last major dip until November – and potentially the last time we’ll ever see Bitcoin under $10,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Last Chance To Buy At Under $10k

As we are still in the early stages of this bull market, most analysts believe we still have a long way to go.

The most recent pullback saw bitcoin briefly dip back under the psychologically significant $10k level. Shortly after however, it was snapped up by eager buyers who managed to force momentum back in the opposite direction.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

So with bullish sentiment still high, it seems unlikely that we will witness another opportunity to buy at under $10,000 this time around. But could bitcoin price ever go back to four figures?

Considering Yearly Lows

To determine this we could possibly look to yearly lows. These indicate the growth of HODLers, and the price below which they will not sell under any circumstances.

In 2018 the yearly low was $3200, off the back of an 85% crash in bitcoin price from its all-time high. This was still a full 4 times the previous yearly low of $780, off the back of both a monumental bull and bear market.

As we are at the start of a new bull market cycle right now, it seems very unlikely that we will dip as low again – even if the price does crash later on in the year.

But what of our all-time high? Prolonged bear markets have historically wiped around 85% off previous ATHs. Where would the end of this bull run have to be, in order to put $10k back in reach of a crash of this magnitude?

Folks of a religious disposition may want to look away now. The magic number which would see an 85% drop take us back to $10k, is $66.6k.

So as long as we moon by Christmas, we’ll be fine.

Do you think we’ll ever see sub-£10K bitcoin again? Let us know your thoughts in the comment section below!


Images courtesy of Twitter @JamesTodaroMD, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Emilio Janus

Emilio Janus

Related Posts

Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

3 hours ago
Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

8 hours ago
UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

3 days ago
Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

3 days ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

3 days ago
Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.