{"id":247527,"date":"2021-05-11T12:09:40","date_gmt":"2021-05-11T09:09:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next\/"},"modified":"2021-05-11T12:09:40","modified_gmt":"2021-05-11T09:09:40","slug":"bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next\/","title":{"rendered":"# Bitcoin support wobbles amid warning BTC price could hit $40K next"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a279af8b2bf8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a279af8b2bf8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next\/#Balani_doubts_altcoins_resilience_to_BTC_dip\" >Balani doubts altcoins\u2019 resilience to BTC dip<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next\/#Altcoins_come_down_from_highs\" >Altcoins come down from highs<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin support wobbles amid warning BTC price could hit $40K next <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) could see a price drop to as low as $40,000 if higher support levels fail to hold, an industry CEO said.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-11\/stalled-bitcoin-rally-brings-a-drop-to-40-000-into-view-chart\">Speaking<\/a> to Bloomberg on Tuesday,\u00a0Pankaj Balani, CEO of digital asset derivatives exchange Delta Exchange, warned that there is a danger of fresh significant losses for BTC\/USD.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Balani_doubts_altcoins_resilience_to_BTC_dip\"><\/span>Balani doubts altcoins\u2019 resilience to BTC dip<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin shed around 5% overnight on Monday, the latest in a familiar cycle of dips and rebounds below crucial resistance, which begins at around $59,500.<\/p>\n<p>At the time of writing, the largest cryptocurrency traded at just above $55,000.<\/p>\n<p>For Balani, $50,000 now forms a significant line in the sand for bulls, and a failure to hold it would open up a new lower trading corridor with a floor at $40,000.<\/p>\n<p>Cryptocurrencies in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, he added, \u201cshould move lower\u201d under such a scenario.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/17060f63-dd38-458e-b713-8b7b075ac0d7.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The perspective jars with the more optimistic projections from data-based analytics this week. As Cointelgraph reported, whale buying was previously tipped to keep BTC\/USD at a minimum of $52,000.<\/p>\n<p>A major cluster of support from whales \u2014 120,000 BTC at $58,000 \u2014 nonetheless failed to stop short-term losses, leaving a question mark over the ability of smaller clusters lower down to do likewise.<\/p>\n<p>Cointelegraph additionally noted that exchange order book support only begins at $50,000, with few bids between that boundary and all-time highs of $64,500.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_come_down_from_highs\"><\/span>Altcoins come down from highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reacting to the latest price action, however, popular commentators were as cool as ever, noting the overall volatility of the market was very much acting within defined contours.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> prices plummet to levels not seen since last week!!!<\/p>\n<p>\u2014 Lark Davis (@TheCryptoLark) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheCryptoLark\/status\/1392016548936577029?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On altcoins, a sense of a reset being underway was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent on the day, with Ether (ETH) taking a breather after hitting new all-time highs repeatedly in recent days.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Do you want Tesla to accept Doge?<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392030108274159619?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Fresh <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> action from Elon Musk, CEO of Tesla and SpaceX, had the potential to release a new spate of growth for Dogecoin (DOGE), which had paired almost a week of gains to drop to around $0.50.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-support-wobbles-amid-warning-btc-price-could-hit-40k-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin support wobbles amid warning BTC price could hit $40K next &#8221; Bitcoin (BTC) could see a price drop to as low as $40,000 if higher support levels fail to hold, an industry CEO said. Speaking to Bloomberg on Tuesday,\u00a0Pankaj Balani, CEO of digital asset derivatives exchange Delta Exchange, warned that there is a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":247528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZjQwZWVhZWQtNmU1Ni00ZjVhLWEyNDgtMGYyMDYxYWRjNDQyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,86883,39394,73785],"class_list":["post-247527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dogecoin","tag-elon-musk","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/247527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=247527"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/247527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/247528"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=247527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=247527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=247527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}