{"id":540879,"date":"2023-01-19T12:49:59","date_gmt":"2023-01-19T09:49:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-can-pass-30k-before-setting-new-bear-market-low-forecast\/"},"modified":"2023-01-19T12:49:59","modified_gmt":"2023-01-19T09:49:59","slug":"bitcoin-can-pass-30k-before-setting-new-bear-market-low-forecast","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-can-pass-30k-before-setting-new-bear-market-low-forecast\/","title":{"rendered":"# Bitcoin can pass $30K before setting new bear market low \u2014 forecast"},"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-6a26b7330fd4d\" 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-6a26b7330fd4d\" 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-can-pass-30k-before-setting-new-bear-market-low-forecast\/#%E2%80%9D_Bitcoin_can_pass_30K_before_setting_new_bear_market_low_%E2%80%94_forecast_%E2%80%9C\" >&#8221; Bitcoin can pass $30K before setting new bear market low \u2014 forecast &#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-can-pass-30k-before-setting-new-bear-market-low-forecast\/#Research_warns_of_%E2%80%9Cfinal_Wave_5_selloff%E2%80%9D\" >Research warns of &#8220;final Wave 5 selloff&#8221;<\/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-can-pass-30k-before-setting-new-bear-market-low-forecast\/#WEF_accompanies_shaky_BTC_price_action\" >WEF accompanies shaky BTC price action<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_can_pass_30K_before_setting_new_bear_market_low_%E2%80%94_forecast_%E2%80%9C\"><\/span>&#8221; Bitcoin can pass $30K before setting new bear market low \u2014 forecast &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts.<\/p>\n<p>In the latest edition of its regular markets <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter, \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/qcp.capital\/featured-article\/the-crypto-circular-9-frightful-fours\/\">The Crypto Circular<\/a>,\u201d trading firm QCP Capital delivered a grim warning to those who believe that crypto winter is over.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Research_warns_of_%E2%80%9Cfinal_Wave_5_selloff%E2%80%9D\"><\/span>Research warns of &#8220;final Wave 5 selloff&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has surprised by retaining new support levels abruptly reclaimed in its week-long bull run, so far topping out at $21,650.<\/p>\n<p>Despite widespread suspicion over the \u201cchoreographed\u201d move, BTC\/USD has nonetheless clawed back key trend lines and psychological price points.<\/p>\n<p>For QCP, there is still plenty of fuel to send the pair higher, but that still does not mean that the bear market overall is done and dusted.<\/p>\n<p>Updating its long-term Elliott Wave price analysis, it argued that the current upside constitutes a Wave 4 for Bitcoin \u2014 essentially a bear market relief move.<\/p>\n<p>\u201cMake no mistake, what we are seeing now in risk markets are characteristic of Wave 4s,\u201d it wrote. <\/p>\n<blockquote><p>\u201cWe are sticking with our view that this bounce since November 2022 lows, is just a Wave 4 correction and we have a final Wave 5 selloff to go.\u201d <\/p><\/blockquote>\n<p>Such a final capitulation would be no joke; Wave 5, a previous chart from December <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/qcp.capital\/market-updates\/market-update-17-dec-22\/\">showed<\/a>, would mean both Bitcoin and Ether (ETH) potentially dropping to below their 2022 floor.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/023ae685-b737-4a34-9963-e25523a142de.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD annotated chart (screenshot). Source: QCP Capital<\/em><\/figcaption><\/figure>\n<p>\u201cThe extension we are currently seeing so far in 2023 falls within the parameters of the Wave 4, even if it has broken some near-term technical levels to the topside, thereby increasing bullish momentum,\u201d the newsletter continued.<\/p>\n<p>Elliott Wave theory states that the 20%, 38.2% and 50% Fibonacci retracement levels are of particular importance in Wave 4. Since Bitcoin has already corrected almost 20% from the recent macro lows, two remaining price targets are now in play: $27,100 and $31,850.<\/p>\n<p>\u201cTechnically until these levels are broken, Wave 4 is still in play and a final Wave 5 for these markets that break the lows should not be ruled out,\u201d QCP said. <\/p>\n<blockquote><p>\u201cWithout a doubt, the pain trade is lower right now.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"WEF_accompanies_shaky_BTC_price_action\"><\/span>WEF accompanies shaky BTC price action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, Bitcoin has sw<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>ed its &#8220;up only&#8221; trading behavior for some much-needed consolidation in recent days.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin sees new 4-month high as US PPI, retail data posts \u2018big misses\u2019<\/em><\/strong><\/p>\n<p>This was helped by panic centered on the United States&#8217; takedown of crypto exchange Bitzlato, this coming amid <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fintechmagazine.com\/crypto\/wef-great-reset-could-fail-if-crypto-remains-regulated\">fresh regulatory concerns<\/a> over Bitcoin from participants at the World Economic Forum, now underway in Davos, Switzerland.<\/p>\n<p>BTC\/USD traded at around $20,800 at the time of writing on Jan. 19, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> showed.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/b325eb53-6175-4aa0-bc2d-c254a2727a3c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\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 News 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-can-pass-30k-before-setting-new-bear-market-low-forecast\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin can pass $30K before setting new bear market low \u2014 forecast &#8220; Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts. In the latest edition of its regular markets newsletter, \u201cThe Crypto Circular,\u201d trading firm QCP Capital delivered a grim warning to those&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/884ab8f6-1478-4152-9987-d0f536dc5986.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785,68637],"class_list":["post-540879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540879","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=540879"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540880"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}