{"id":502902,"date":"2022-09-20T23:00:03","date_gmt":"2022-09-20T23:00:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=502902"},"modified":"2024-06-11T14:26:22","modified_gmt":"2024-06-11T14:26:22","slug":"bitcoin-price-recovers-above-19000-but-is-the-onslaught-over","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-recovers-above-19000-but-is-the-onslaught-over\/","title":{"rendered":"Bitcoin Price Recovers Above $19,000, But Is The Onslaught Over?"},"content":{"rendered":"

Bitcoin has been able to regain some of its footings over the last 24 hours after it had fallen to the $18,000 level, taking the entire crypto market down with it. Now, as the Tuesday trading day opens, the digital asset has made its way above $19,000. But despite bitcoin looking to be forming support just above $19,200, questions still abound in the market if this is a false recovery.<\/p>\n

Is The Onslaught Over?<\/h2>\n

Bitcoin\u2019s move above $19,000 has been a 4% increase over the past 24 hours. Given the tendency of the market to form a takeout after such massive losses, the possibility that the downtrend is not over continues to loom over the market.\u00a0<\/span><\/p>\n

Related Reading: More Than 125,000 Crypto Traders Liquidated, Here\u2019s How Much They Lost<\/a><\/strong><\/em><\/div>\n

However, in the one-week timeframe, the digital asset continues to point towards sell pressure. It is the same thing recorded in the 2020 market just before the bull rally. But it is important to note that the digital asset had gone through a full-blown bear market at that point, priming it for recovery.<\/p>\n

This time around, bitcoin is still just entering its bear market phase, meaning that any buying pressure will not lead to significant growth. It was the case in the month of August, where even though accumulation trends had grown, bitcoin was still unable to break above $25,000.<\/p>\n

\"Bitcoin<\/p>\n

BTC settles above $19,200 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n

The market movements do point to the possibility of bitcoin forming a cycle bottom, which would mean that the buying pressure could be an indicator of a bull rally. But the market remains too volatile for a significant upwards swing.<\/p>\n

Bitcoin In The Weeds<\/h2>\n

There is still a lot of strong sentiment surrounding the fact that bitcoin has yet to reach its bottom. Most of these analyses are taken from previous bull and bear cycle trends where the digital asset had lost at least 80% of its value before starting on another bull market trend. Putting the bottom of the current bear market around the $12,000 price point.<\/p>\n

Related Reading: Cardano (ADA) Price Fails To Break $0.5 Despite Vasil Hype<\/a><\/strong><\/em><\/p>\n

Chief Market Strategist at InTheMoneyStocks.com, Gareth Soloway, has also echoed this forecast. In a recent interview with Stansberry Research<\/a>, Soloway explained that he expected the price of the digital asset to drop between $12,000-$13,000 before the bear market is over. The market strategist points to the dollar’s strength in recent times, which chases investors away from risk assets. \u201cEvery uptick in the dollar, you\u2019ll see the opposite occurring in the Bitcoin chart,\u201d Soloway said.\u00a0<\/span><\/p>\n

Bitcoin\u2019s price had dropped by about 85% from its all-time high after the last bull market of 2017-2018. It was a similar case after the 2013-2014 bull market. So given bitcoin\u2019s likelihood to stick closely to historical patterns, Soloway\u2019s prediction of a $12,000-$13,000 bottom price remains a viable forecast as it would constitute an around 85% drop from bitcoin\u2019s all-time high of $69,000.<\/p>\n

Featured image from CNBC, chart from TradingView.com<\/pre>\n

Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has been able to regain some of its footings over the last 24 hours after it had fallen to the $18,000 level, taking the entire crypto market down with it. Now, as the Tuesday trading day opens, the digital asset has made its way above $19,000. But despite bitcoin looking to be forming support just above $19,200, questions still abound in the market if this is a false recovery. Is The Onslaught Over? Bitcoin\u2019s move above $19,000 has been a 4% increase over the past 24 hours. Given the tendency of the market to form a takeout after such massive losses, the possibility that the downtrend is not over continues to loom over the market.\u00a0 Related Reading: More Than 125,000 Crypto Traders Liquidated, Here\u2019s How Much They Lost However, in the one-week timeframe, the digital asset continues to point towards sell pressure. It is the same thing recorded in the 2020 market just before the bull rally. But it is important to note that the digital asset had gone through a full-blown bear market at that point, priming it for recovery. This time around, bitcoin is still just entering its bear market phase, meaning that any buying pressure will not lead to significant growth. It was the case in the month of August, where even though accumulation trends had grown, bitcoin was still unable to break above $25,000. BTC settles above $19,200 | Source: BTCUSD on TradingView.com The market movements do point to the possibility of bitcoin forming a cycle bottom, which would mean that the buying pressure could be an indicator of a bull rally. But the market remains too volatile for a significant upwards swing. Bitcoin In The Weeds There is still a lot of strong sentiment surrounding the fact that bitcoin has yet to reach its bottom. Most of these analyses are taken from previous bull and bear cycle trends where the digital asset had lost at least 80% of its value before starting on another bull market trend. Putting the bottom of the current bear market around the $12,000 price point. Related Reading: Cardano (ADA) Price Fails To Break $0.5 Despite Vasil Hype Chief Market Strategist at InTheMoneyStocks.com, Gareth Soloway, has also echoed this forecast. In a recent interview with Stansberry Research, Soloway explained that he expected the price of the digital asset to drop between $12,000-$13,000 before the bear market is over. The market strategist points to the dollar’s strength in recent times, which chases investors away from risk assets. \u201cEvery uptick in the dollar, you\u2019ll see the opposite occurring in the Bitcoin chart,\u201d Soloway said.\u00a0 Bitcoin\u2019s price had dropped by about 85% from its all-time high after the last bull market of 2017-2018. It was a similar case after the 2013-2014 bull market. So given bitcoin\u2019s likelihood to stick closely to historical patterns, Soloway\u2019s prediction of a $12,000-$13,000 bottom price remains a viable forecast as it would constitute an around 85% drop from bitcoin\u2019s all-time high of $69,000. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":502904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84132,679,1119,1144,78790],"class_list":["post-502902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-movement","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Price Recovers Above $19,000, But Is The Onslaught Over?<\/title>\n<meta name=\"description\" content=\"Bitcoin has been able to regain some of its footings over the last 24 hours after it had fallen to the $18,000 level, taking the entire crypto market down\" \/>\n<meta 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Recovers Above $19,000, But Is The Onslaught Over?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovers-above-19000-but-is-the-onslaught-over\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovers-above-19000-but-is-the-onslaught-over\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-3-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-3-scaled.jpeg?fit=2560%2C1659"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin movement","bitcoin price","btc","btcusd","btcusdt"],"dateCreated":"2022-09-20T23:00:03Z","datePublished":"2022-09-20T23:00:03Z","dateModified":"2024-06-11T14:26:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovers Above $19,000, But Is The Onslaught Over?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovers-above-19000-but-is-the-onslaught-over\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovers-above-19000-but-is-the-onslaught-over\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-3-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-3-scaled.jpeg?fit=2560%2C1659\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin movement\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2022-09-20T23:00:03Z\",\"datePublished\":\"2022-09-20T23:00:03Z\",\"dateModified\":\"2024-06-11T14:26:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-3-scaled.jpeg?fit=2560%2C1659","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/502902"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=502902"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/502902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/502904"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=502902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=502902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=502902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}