{"id":446513,"date":"2022-05-13T19:16:05","date_gmt":"2022-05-13T16:16:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\/"},"modified":"2022-05-13T19:16:05","modified_gmt":"2022-05-13T16:16:05","slug":"bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\/","title":{"rendered":"# Bitcoin macro bottom &#8216;not in yet&#8217; warns analyst as BTC price holds $30K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a3df3b4eaade\" 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-6a3df3b4eaade\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\/#%E2%80%9D_Bitcoin_macro_bottom_%E2%80%98not_in_yet_warns_analyst_as_BTC_price_holds_30K_%E2%80%9C\" >&#8221; Bitcoin macro bottom &#8216;not in yet&#8217; warns analyst as BTC price holds $30K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\/#Dollar_declines_stocks_bounce_at_weeks_end\" >Dollar declines, stocks bounce at week&#8217;s end<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\/#Hayes_I_would_buy_Bitcoin_at_20000_Ethereum_at_1300\" >Hayes: I would buy Bitcoin at $20,000, Ethereum at $1,300<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_macro_bottom_%E2%80%98not_in_yet_warns_analyst_as_BTC_price_holds_30K_%E2%80%9C\"><\/span>&#8221; Bitcoin macro bottom &#8216;not in yet&#8217; warns analyst as BTC price holds $30K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) failed to clinch $31,000 by the Wall Street open on May 13 as new warnings forecast a continuation of the downside.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/e60062f0-56a9-4de0-8eda-7113912cdc83.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_declines_stocks_bounce_at_weeks_end\"><\/span>Dollar declines, stocks bounce at week&#8217;s end<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD consolidating after reaching just short of $31,000 earlier on the day.<\/p>\n<p>United States stock markets saw some relief, the S&amp;P 500 up 2.2% and the Nasdaq gaining 3.3% on the open.<\/p>\n<p>The conspicuous exception was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> stock, which at the time of writing traded down 7.7% on the day, thanks to Elon Musk delaying his takeover bid.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/91ad98ed-bd3e-4ded-9c49-ea660e0c1a70.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>In parallel to the renewed equities strength came a declining U.S. dollar, with the U.S. dollar index (DXY) coming off fresh twenty-year highs to decline 0.2% \u2014 traditionally a boon for Bitcoin and risk assets more broadly.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DXY<\/a> &#8211; Finally showing some sort of chance for a pullback. This would help <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Stocks?src=hash&amp;ref_src=twsrc%5Etfw\">#Stocks<\/a>. Still early to tell but it&#8217;s better than seeing another green candle. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/WZ3vSUwZsd\">pic.twitter.com\/WZ3vSUwZsd<\/a><\/p>\n<p>\u2014 IncomeSharks (@IncomeSharks) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IncomeSharks\/status\/1525020350106451968?ref_src=twsrc%5Etfw\">May 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As optimism around Bitcoin slowly returned in the midst of the Terra LUNA blowout, some sources still argued that it was far from guaranteed that a deeper BTC price crash would be avoided.<\/p>\n<p>Among them was on-chain analytics platform Material Indicators.<\/p>\n<p>&#8220;This BTC rally could continue, but before you FOMO in, ask yourself what has changed fundamentally?&#8221; part of its latest Twitter update <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1525137838601379842\">stated<\/a>. <\/p>\n<blockquote><p>&#8220;IMO, the macro bottom is not in yet.&#8221;<\/p><\/blockquote>\n<p>An accompanying order book chart from major exchange Binance showed moderate support in place below the spot price, this nonetheless being little in comparison to the main wall at this week&#8217;s $24,000 lows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/9a77b30c-1cb8-4f27-b481-5a36a556e6ca.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Equally wary was popular trading account HornHairs, which demanded a reclaim of up to $50,000 on the weekly chart to avoid a capitulation event.<\/p>\n<p>&#8220;Until then, there is a real chance we could chop around &amp; dead cat bounce here for a few weeks into another flush down to $20k for accumulation bottom,&#8221; a recent tweet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoHornHairs\/status\/1525128061636730880\">read<\/a>.<\/p>\n<p>As Cointelegraph reported, a further theory suggested that to preserve its tradition of 80% drawdowns from all-time highs, BTC\/USD would need to dive to just $14,000.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hayes_I_would_buy_Bitcoin_at_20000_Ethereum_at_1300\"><\/span>Hayes: I would buy Bitcoin at $20,000, Ethereum at $1,300<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the dust settled on markets this week, another voice reiterated his existing concerns over a fresh meltdown to come.<\/p>\n<p><strong><em>Related:\u00a0Canadian Bitcoin ETF adds 6.9K BTC in one day as GBTC discount hits record low<\/em><\/strong><\/p>\n<p>In his latest blog post concerned primarily with the LUNA phenomenon, Arthur Hayes, former CEO of crypto derivatives platform BitMEX, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/entrepreneurshandbook.co\/luna-brothers-inc-712ec5abe199\">called<\/a> for $20,000.<\/p>\n<p>&#8220;The crypto capital markets must be allowed time to heal after the bloodletting concludes. Therefore, it is asinine to attempt to fathom legitimate price targets. But I shall say this \u2014 given my macro view about the inevitability of more money being printed, I will close my eyes and trust the Lord,&#8221; he wrote.<\/p>\n<blockquote><p>&#8220;Therefore, I am a buyer at Bitcoin $20,000 and Ether $1,300. These levels roughly correspond to the all-time highs of each asset during the 2017\/18 bull market.&#8221;<\/p><\/blockquote>\n<p>Hayes had previously called for $30,000 to hit in June, before this week&#8217;s shake-up unfolded. Longer-term, however, he had likewise told readers to prepare for an extended period of pain across crypto-assets and stocks alike.<\/p>\n<p>By 2030, he said, Bitcoin should cost &#8220;in the millions&#8221; of dollars.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/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-macro-bottom-not-in-yet-warns-analyst-as-btc-price-holds-30k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin macro bottom &#8216;not in yet&#8217; warns analyst as BTC price holds $30K &#8220; Bitcoin (BTC) failed to clinch $31,000 by the Wall Street open on May 13 as new warnings forecast a continuation of the downside. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar declines, stocks bounce at week&#8217;s end Data from Cointelegraph&#8230;<\/p>\n","protected":false},"author":1,"featured_media":446514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNGMzNTMzZDgtNzFmNC00OTljLWJiZjgtNjk1YWJhMDM5OGRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,39394,73785,68637,10401],"class_list":["post-446513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-elon-musk","tag-markets","tag-predictions","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446513","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=446513"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/446514"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=446513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=446513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=446513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}