{"id":625972,"date":"2024-06-23T01:00:04","date_gmt":"2024-06-23T01:00:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=625972"},"modified":"2024-06-22T16:57:10","modified_gmt":"2024-06-22T16:57:10","slug":"bitcoin-crash-to-52000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-crash-to-52000\/","title":{"rendered":"Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000"},"content":{"rendered":"

A crypto analyst has disclosed reasons why the price of Bitcoin could <\/span>witness more declines<\/span><\/a> to $52,000 lows. According to the analyst, Bitcoin has <\/span>broken key support levels,<\/span><\/a> which indicates a potential shift from a bullish to a bearish position.\u00a0<\/span><\/p>\n

Analyst Projects Bitcoin Crash To $52,000<\/h2>\n

In a <\/span>post on X<\/span><\/a> (formerly Twitter) on June 21, crypto analyst, Justin Bennett predicted that <\/span>Bitcoin could witness a price crash<\/span><\/a> to key ranges between $52,000 and $54,000. He shared a price chart illustrating Bitcoin\u2019s recent decline,\u00a0 highlighting that its price remains range-bound, showing no clear downward or upward trend as it trades between support and resistance.<\/span><\/p>\n

Related Reading: XRP Exhibiting Unusual On-Chain Behavior, How Will This Affect Price?<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

While Bennett believes that Bitcoin could plummet to $52,000, the analyst cited several reasons for this <\/span>bearish outlook<\/span><\/a>. He revealed that Bitcoin has broken past a key trend line from October 2023, suggesting a shift to more bearish territory. Additionally, the analyst noted market imbalances between February 26 and 27, indicating the possibility of less accumulation and more <\/span>selling pressure for Bitcoin<\/span><\/a>.\u00a0<\/span><\/p>\n

Bennett also highlighted the presence of <\/span>significant liquidity<\/span><\/a> below the $56,500 price threshold for BTC. He suggested that markets often move towards areas with higher liquidity due to the concentration of buying and selling of Bitcoin. As a result, the potential for Bitcoin to drop below $60,000 is greater.\u00a0<\/span><\/p>\n

On the upside, Bennett has disclosed the possibility for Bitcoin to have a <\/span>bullish turnaround<\/span><\/a> above $72,000, potentially capturing liquidity at these levels. However, the analyst also considers this a less likely scenario given the current state of the Bitcoin chart.\u00a0<\/span><\/p>\n

\u201cI’ve been a supporter of crypto since I got involved in 2020, but facts are facts. The charts don’t look great, and the stock market is the only thing keeping crypto from falling off a cliff,\u201d Bennett <\/span>stated<\/span><\/a>.\u00a0<\/span><\/p>\n

Investor Interest In BTC Is Waning<\/h2>\n

In one of his latest <\/span>X posts<\/span><\/a>, crypto analyst, Ali\u00a0<\/span>Martinez disclosed that investors’ interest in Bitcoin has begun to diminish. According to the analyst, BTC is <\/span>experiencing a significant downturn<\/span><\/a> in exchange-related on-chain activities.\u00a0<\/span>Additionally, the pioneer cryptocurrency is presently witnessing a substantial drop in its network usage, suggesting a <\/span>shift in demand for Bitcoin<\/span><\/a>.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Martinez has suggested that the crypto market may be <\/span>turning their attention to Ethereum<\/span><\/a>, the world\u2019s largest altcoin. He disclosed that the \u201ccrowd was growing more optimistic about Ethereum,\u201d highlighted by the surge in the cryptocurrency\u2019s social media mentions.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Whale Withdraws 2.2 Billion SHIB From Robinhood, Should You Follow The Whales?<\/a><\/div>\n

This change in investor sentiment could be attributed to the imminent launch of <\/span>Ethereum Spot ETFs<\/span><\/a>, which is expected to attract significant inflows into Ethereum\u2019s market and potentially drive up the cryptocurrency\u2019s price. Martinez also shares similar sentiments with crypto analyst Bennett, predicting a possible <\/span>price correction for Bitcoin<\/span><\/a> toward new lows at $54,930.\u00a0<\/span><\/p>\n

At the time of writing, the price of Bitcoin is trading at $64,265, reflecting a 2.87% decline over the past week, according to CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC bulls reclaim control of price | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A crypto analyst has disclosed reasons why the price of Bitcoin could witness more declines to $52,000 lows. According to the analyst, Bitcoin has broken key support levels, which indicates a potential shift from a bullish to a bearish position.\u00a0 Analyst Projects Bitcoin Crash To $52,000 In a post on X (formerly Twitter) on June 21, crypto analyst, Justin Bennett predicted that Bitcoin could witness a price crash to key ranges between $52,000 and $54,000. He shared a price chart illustrating Bitcoin\u2019s recent decline,\u00a0 highlighting that its price remains range-bound, showing no clear downward or upward trend as it trades between support and resistance. Related Reading: XRP Exhibiting Unusual On-Chain Behavior, How Will This Affect Price? While Bennett believes that Bitcoin could plummet to $52,000, the analyst cited several reasons for this bearish outlook. He revealed that Bitcoin has broken past a key trend line from October 2023, suggesting a shift to more bearish territory. Additionally, the analyst noted market imbalances between February 26 and 27, indicating the possibility of less accumulation and more selling pressure for Bitcoin.\u00a0 Bennett also highlighted the presence of significant liquidity below the $56,500 price threshold for BTC. He suggested that markets often move towards areas with higher liquidity due to the concentration of buying and selling of Bitcoin. As a result, the potential for Bitcoin to drop below $60,000 is greater.\u00a0 On the upside, Bennett has disclosed the possibility for Bitcoin to have a bullish turnaround above $72,000, potentially capturing liquidity at these levels. However, the analyst also considers this a less likely scenario given the current state of the Bitcoin chart.\u00a0 \u201cI’ve been a supporter of crypto since I got involved in 2020, but facts are facts. The charts don’t look great, and the stock market is the only thing keeping crypto from falling off a cliff,\u201d Bennett stated.\u00a0 Investor Interest In BTC Is Waning In one of his latest X posts, crypto analyst, Ali\u00a0Martinez disclosed that investors’ interest in Bitcoin has begun to diminish. According to the analyst, BTC is experiencing a significant downturn in exchange-related on-chain activities.\u00a0Additionally, the pioneer cryptocurrency is presently witnessing a substantial drop in its network usage, suggesting a shift in demand for Bitcoin.\u00a0 Martinez has suggested that the crypto market may be turning their attention to Ethereum, the world\u2019s largest altcoin. He disclosed that the \u201ccrowd was growing more optimistic about Ethereum,\u201d highlighted by the surge in the cryptocurrency\u2019s social media mentions.\u00a0 Related Reading: Shiba Inu Whale Withdraws 2.2 Billion SHIB From Robinhood, Should You Follow The Whales? This change in investor sentiment could be attributed to the imminent launch of Ethereum Spot ETFs, which is expected to attract significant inflows into Ethereum\u2019s market and potentially drive up the cryptocurrency\u2019s price. Martinez also shares similar sentiments with crypto analyst Bennett, predicting a possible price correction for Bitcoin toward new lows at $54,930.\u00a0 At the time of writing, the price of Bitcoin is trading at $64,265, reflecting a 2.87% decline over the past week, according to CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":625975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-625972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000<\/title>\n<meta name=\"description\" content=\"A crypto analyst has disclosed reasons why the price of Bitcoin could witness more declines to $52,000 lows.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000","url":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-crash-to-52000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-crash-to-52000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_7e2aa8.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_7e2aa8.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-06-23T01:00:04Z","datePublished":"2024-06-23T01:00:04Z","dateModified":"2024-06-23T01:00:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-crash-to-52000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-crash-to-52000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin_7e2aa8.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin_7e2aa8.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-06-23T01:00:04Z\",\"datePublished\":\"2024-06-23T01:00:04Z\",\"dateModified\":\"2024-06-23T01:00:04Z\"}<\/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\/2024\/06\/Bitcoin_7e2aa8.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625972"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=625972"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/625975"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=625972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=625972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=625972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}