• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
bitcoin btc price drop

Bitcoin Price Tanks $250 In Minutes But Analysts Say Bullish Trend Intact

Esther Kim by Esther Kim
5 years ago
in Bitcoin Price, Altcoin News, Altcoins, Bitcoin, Bitcoin Cash, Ethereum, News, News teaser
0

The Bitcoin price abruptly fell $250 January 10 as a fresh wave of volatility washed away the calm which had characterized markets this week.


Easy Come, Easy Go

Data from Bitcointicker shows a curious retracing for Bitcoin Thursday, the largest cryptocurrency dropping from $4050 to $3800 in minutes.

The move down cancels out gains from January 7, which saw BTC/USD [coin_price] make an identical move in the other direction – from $3830 to $4020.

Bitcoin remains 11 percent up on the month to date, while more broadly, its price remains down by over a third compared with three months ago.

On social media, commentators were speculating as to why Monday’s gains had disappeared, with theories appearing to favor moves by exchanges.

Bitcoin Price Plan Still On Track

As Bitcoinist reported, volatility amounting to hundreds of dollars becomes immaterial taken within the wider context of Bitcoin price activity in recent months.

Despite falling below $4000, BTC/USD remains well above the worst case scenario forecast by analysts such as Tone Vays, who warned the pair could yet fall to $1300 or even lower. The clinching factor, he said in December, was Bitcoin staying above its 200-week moving average.

Having since managed to do just that, attention is now focusing on 2019 and a potential slow run-up to new all-time highs later.

On Twitter, the account known as planB suggested the Bitcoin price to maintain a shorter-term goal – the 200-day moving average – this year, followed by growth to $100,000 in 2021. By the time of the May 2020 block reward halving, however, Bitcoin will still only trade around $8000.

My 2 cents on #bitcoin price:
– 2019: btc stays above 200-week moving average (now $3200 and historically never declining)
– 2020 halving: will be around $8000 (blue), on trend-line like 2012 & 2016
– 2021: bull run starts after the halving (red) and tops $100k in 2021 (orange) pic.twitter.com/UpRKDPRswM

— planɃ [Bitcoin] (@100trillionUSD) January 9, 2019

Fellow analyst and Bitcoinist contributor Filbfilb was additionally eyeing support at $3600 and $3100.

“Fail at that level and we confirm an M top and [Bitcoin price] will retest 3.1k,” he noted.

Meanwhile, altcoins continue to follow and react to Bitcoin’s movements. Ether (ETH) dropped 8.3 percent in the 24 hours to press time compared with Bitcoin’s 5.4 percent, while Bitcoin Cash (BCH) delivered 10.6 percent losses.

Only TRON’s TRX token appeared to weather the storm, despite moderate losses still posting a 17 percent daily improvement.

What do you think about Bitcoin’s latest price moves? Let us know in the comments below!


Images courtesy of Shutterstock, bitcointicker.co

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Esther Kim

Esther Kim

Related Posts

Bitcoin price $30,000

Bitcoin Price Sets Sights On $30,000 As Holder Metric Hits New All-Time High

12 hours ago
Bitcoin

Bitcoin Long-Term Metrics Point To A Different Scenario Than 2019 Fakeout: Top Analyst

14 hours ago
Bitcoin

Bitcoin Hash Rate: Public Miners Account For Just 28% – Is Decentralization In Jeopardy?

17 hours ago
Ethereum ETFs SEC

SEC Dashes Hopes As It Delays These Two Ethereum ETFs Despite Unique Approach

2 days ago
Bitcoin

Bitcoin Recent Hiccup: Understanding The Invalid Block 

2 days ago
Ethereum Fees Generated

Developer: Ethereum Is Not Slow Because Of Geth Client

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Prepare for the Next Bull Market: The 5 Best Cryptos to Buy...

    3 hours ago
  • Meta Force and Lado Okhotnikov Presented the Results of...

    15 hours ago
  • Bitcoin (BTC) and Litecoin (LTC) Ascending – Is it a...

    19 hours ago
  • Ethereum (ETH) and Ripple (XRP) Facing Key Levels –...

    20 hours ago
  • While Stellar And Avalanche Falter, Bitcoin Spark Heading...

    23 hours 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
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 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.