{"id":402168,"date":"2019-10-24T12:00:44","date_gmt":"2019-10-24T12:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=402168"},"modified":"2024-06-11T13:31:26","modified_gmt":"2024-06-11T13:31:26","slug":"bitcoin-price-bottom-mid-november-6500-analysis","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-bottom-mid-november-6500-analysis\/","title":{"rendered":"Bitcoin Price to Bottom in Mid-November at Around $6,700: Analysis"},"content":{"rendered":"

Bitcoin<\/a> took an absolute beating on Wednesday. For those who missed the memo, the cryptocurrency saw a 10% drop within an hour or two, plunging under the key level of $7,700<\/a> for the first time in around five months.\u00a0This dramatic move came after countless analysts expected volatility to hit markets<\/a>, citing the Bollinger Band amongst other indicators.<\/p>\n

Related Reading: Bitcoin Price En Route to Descending Triangle Target of $5,000<\/a><\/h6>\n
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Bitcoin to Bottom in Three Weeks… at ~$6,500<\/strong><\/h2>\nIf you have followed NewsBTC’s coverage of the crypto markets over the past few months, you likely would have noticed a name recurring in our pieces: Dave the Wave.<\/a><\/p>\n
Throughout the micro-bull run seen earlier this year, when Bitcoin rallied from $3,000 to $14,000, Dave kept on reminding his followers and the broader cryptoverse that a correction is likely. He incessantly posted predictions of a correction to the $6,000 region, which he claimed would be healthy for BTC. Of course, when Bitcoin was trading in the five digits, Dave’s calls were laughed off as the ramblings of a bear.<\/p>\n
Related Reading: Is There a Bitcoin Bull Case After 10% Plunge to $7,400?<\/a><\/h6>\n
But, the analyst has stuck to his guns throughout the volatility and skepticism. And now, it seems that his prediction of a drop to the key price region of $6,000 is coming true. As mentioned earlier in this article, Bitcoin has found itself at $7,400, seemingly on the verge of yet another breakdown, potentially to the high-$6,000s.<\/p>\n
So, what does Dave say is next for Bitcoin?<\/p>\n
Well, according to one of his most recent tweets, a further move lower. This move lower, he claimed citing a geometric\/fractal analysis of the last market cycle and the current, will end with Bitcoin bottoming in mid-November \u2014 just three weeks away.<\/p>\n
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Bottom mid November on the basis of this geometry. pic.twitter.com\/dglPZikBPZ<\/a><\/p>\n
— dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) October 24, 2019<\/a><\/p><\/blockquote>\n