{"id":391594,"date":"2019-07-30T09:00:47","date_gmt":"2019-07-30T09:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=391594"},"modified":"2019-07-30T08:52:34","modified_gmt":"2019-07-30T08:52:34","slug":"big-bitcoin-corrections-expected-and-normal-could-btc-drop-to-8k-soon","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/big-bitcoin-corrections-expected-and-normal-could-btc-drop-to-8k-soon\/","title":{"rendered":"Big Bitcoin Corrections Expected and Normal, Could BTC Drop to $8k Soon?"},"content":{"rendered":"

The doom merchants immediately start rejoicing as soon as Bitcoin begins to dump but in reality this is simply a normal and expected component of the market cycle. At the moment BTC is down just over 30 percent from its 2019 high but it could drop even further.<\/p>\n

Bitcoin Holds $9,500<\/h2>\n

There has been very little movement<\/a> in Bitcoin prices over the past 24 hours. It has ranged between $9,600 and $9,430 in a very tight channel with little indication of a breakout in either direction. Volume is dropping off however and is currently down to $13 billion.<\/p>\n

\"bitcoin\"<\/a>
BTC prices 24 hours – Coinmarketcap.com<\/figcaption><\/figure>\n

BTC is holding on to support at the moment as the two day consolidation rolls into a third. From its peak of $13,800 last month BTC has declined 31 percent to current prices. This would be a perfectly normal reaction from the parabolic price rise in recent weeks. In fact, BTC has experienced greater corrections of up to 40 percent so further losses could be imminent.<\/p>\n

A decline of this magnitude would send Bitcoin prices<\/a> back down to the low $8,000 price range. Crypto trader \u2018Crypto Hamster\u2019 has eyed previous pullbacks during the last bull run, and there were quite a few over the two year period.<\/p>\n

\u201c#Bitcoin used to have 30-40% corrections.
\nThere is usually a lower low after the initial sell-off followed by a recovery.
\nIt always seems that we are going much lower.
\nBut we never do, unless it is a global bull-to-bear transition.
\nWhy now we shall drop more?\u201d<\/p><\/blockquote>\n

\n

#Bitcoin<\/a> used to have 30-40% corrections.
There is usually a lower low after the initial sell-off followed by a recovery.
It always seems that we are going much lower.
But we never do, unless it is a global bull-to-bear transition.
Why now we shall drop more?$BTC<\/a> $BTCUSD<\/a> pic.twitter.com\/2c49JEc0kB<\/a><\/p>\n

— CryptoHamster (@CryptoHamsterIO) July 30, 2019<\/a><\/p><\/blockquote>\n