{"id":508376,"date":"2022-11-10T01:37:10","date_gmt":"2022-11-09T22:37:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/"},"modified":"2022-11-10T01:37:10","modified_gmt":"2022-11-09T22:37:10","slug":"bitcoin-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/","title":{"rendered":"# Bitcoin price hits multi-year low at $15.6K, analysts expect further downside"},"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-6a3b39abbffc5\" 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-6a3b39abbffc5\" 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-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/#%E2%80%9D_Bitcoin_price_hits_multi-year_low_at_156K_analysts_expect_further_downside_%E2%80%9C\" >&#8221; Bitcoin price hits multi-year low at $15.6K, analysts expect further downside &#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-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/#Analyst_expects_downside_continuation_with_brief_support_at_12K\" >Analyst expects downside continuation with brief support at $12K<\/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-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/#Will_Bitcoin_price_drop_below_key_multi-year_moving_averages\" >Will Bitcoin price drop below key multi-year moving averages?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\/#Fear_is_growing_and_investors_are_selling_at_a_loss\" >Fear is growing and investors are selling at a loss<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_hits_multi-year_low_at_156K_analysts_expect_further_downside_%E2%80%9C\"><\/span>&#8221; Bitcoin price hits multi-year low at $15.6K, analysts expect further downside &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMWU3YjAxYjYtZjI0OC00YjFjLWI3ZmMtNWYyNzU3ZGUwMjhjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Investor sentiment in the crypto market is floundering after Binance decided to nix its agreement with FTX to purchase the distressed cryptocurrency exchange. The events have sent Bitcoin to a new yearly low, while other altcoins have also taken a sharp downturn.\u00a0<\/p>\n<p>Data from Cointelegraph shows Bitcoin (BTC) declining to $15,698 amid the chaos caused by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/youtu.be\/7-FTQ-fqRSQ\">FTX\u2019s potential insolvency<\/a> and the failure of the Binance deal. Analysts are turning to technical charts to try and find the next price path. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_expects_downside_continuation_with_brief_support_at_12K\"><\/span>Analyst expects downside continuation with brief support at $12K<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Independent market analyst, CanteringClark said that BTC price could possibly find a short-term bounce at $15,000. Citing an assortment of indicators, the analysts suggested that Bitcoin could eventually settle around the $12,000 level.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is as clean of a continuation break as you are going to get, and this time we have a catalyst to really send it.<\/p>\n<p>15k might provide brief support, but the next major area for price to settle seems to be around the 12k handle.<\/p>\n<p>Cheap Bitcoin coming. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/aDDMJIMRDh\">pic.twitter.com\/aDDMJIMRDh<\/a><\/p>\n<p>\u2014 Clark (@CanteringClark) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1590408225765355520?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Will_Bitcoin_price_drop_below_key_multi-year_moving_averages\"><\/span>Will Bitcoin price drop below key multi-year moving averages?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analyst Caleb Franzen explained that the estimated moving average (EMA) is an indicator utilized to gauge price over a certain period of time. According to Franzen, if Bitcoin price continues to fall, it would be the first time in its history that the 52 week and 104 week EMA&#8217;s crossed below the 156 week EMA.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> analysis using annual EMA&#8217;s on weekly candles:<\/p>\n<p>52-week EMA  = 1 year<br \/>104-week EMA  = 2 years<br \/>156-week EMA  = 3 years<\/p>\n<p>We&#8217;ve never seen the 52 or 104 EMA&#8217;s cross below 156 EMA, but we&#8217;re getting very close this cycle.<\/p>\n<p>Is a new first coming for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/knUwdAnqvb\">pic.twitter.com\/knUwdAnqvb<\/a><\/p>\n<p>\u2014 Caleb Franzen (@CalebFranzen) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1590396071897083907?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Read more: <\/em><\/strong><strong><em>Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into contagion<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fear_is_growing_and_investors_are_selling_at_a_loss\"><\/span>Fear is growing and investors are selling at a loss<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dave the wave, an independent market analyst, highlights the growing market fear surrounding Bitcoin utilizing the logarithmic growth curve. According to Dave, if the monthly Bitcoin monthly candle closes below $16,907, Bitcoin\u2019s growth will have detracted using this important long-term metric. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The LGC being tested here.<\/p>\n<p>Let&#8217;s see where <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&amp;ref_src=twsrc%5Etfw\">#btc<\/a> closes on the monthly candle, which is of most significant for long-term models. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/nM79cVNhjs\">pic.twitter.com\/nM79cVNhjs<\/a><\/p>\n<p>\u2014 dave the wave (@davthewave) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/davthewave\/status\/1590425650703523840?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Citing the aSOPR on-chain metric, Glassnode analysis shows that spenders are selling at a 10% loss, something which has not h<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>ened since the June 2022 sell-off.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The last 48hrs have seen a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of dramatic events unfold related to FTX and Binance exchanges<\/p>\n<p>In response, we have seen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> aSOPR drop to 0.9, signalling the average spender was realizing a 10% loss.<\/p>\n<p>This is as severe as June sell-off, when prices first fell to $17.5k. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/p2vmhzEy8Y\">pic.twitter.com\/p2vmhzEy8Y<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1590241907019755521?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts across the market were hopeful that Binance\u2019s bid to acquire FTX would stop the bleeding of the current sell-off and now that the deal is nixed, investors are likely to amplify their risk-off stance.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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.<\/p>\n<\/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-price-hits-multi-year-low-at-15-6k-analysts-expect-further-downside\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price hits multi-year low at $15.6K, analysts expect further downside &#8220; Investor sentiment in the crypto market is floundering after Binance decided to nix its agreement with FTX to purchase the distressed cryptocurrency exchange. The events have sent Bitcoin to a new yearly low, while other altcoins have also taken a sharp downturn.\u00a0&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMWU3YjAxYjYtZjI0OC00YjFjLWI3ZmMtNWYyNzU3ZGUwMjhjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,74862,74937,74863,74860,135234,127241,75150,73785],"class_list":["post-508376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-ftx-token","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508376","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=508376"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508377"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}