[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-bitcoin-forecast-btc-price-cou730191c504-2780-74a2-9a2d-4e3b61ebd5c6":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":9,"asset":18,"tagsCategories":19,"totalComments":20,"lang":21,"unique_views_count":22,"enrichStatus":18,"triageKind":9,"triageImportance":9,"expandEligible":9,"summarizeEligible":9,"eventEligible":9,"eventType":9,"eventAction":9},"bitcoin-forecast-btc-price-cou730191c504-2780-74a2-9a2d-4e3b61ebd5c6","1725586248000","Bitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold","\u003Cp>Bitcoin (BTC) has been on a severe \u003Ca href=\"https://www.newsbtc.com/analysis/btc/bitcoin-price-lower-57200/\">downward trend\u003C/a> for the past few months, experiencing multiple price fluctuations amidst \u003Ca href=\"https://bitcoinist.com/bitcoin-active-addresses-decline-sharply/\">broader market volatility\u003C/a>. A crypto analyst has predicted that Bitcoin could witness an even steeper drop to $50,000 if its price does not hold this key support level. \u003C/p>Bitcoin Risks $50,000 Drop If Support Fails\u003Cp>Elja Boom, a crypto analyst took to X (formerly Twitter) on September 5 to \u003Ca href=\"https://x.com/eljaboom/status/1831242780665950594?s=46\">discuss\u003C/a> the current price trends and market movements of Bitcoin. Boom shared a price chart offering key insights into Bitcoin’s future outlook, indicating that the cryptocurrency’s short term uptrend has likely ended. \u003C/p>\u003Cimg src=\"https://www.newsbtc.com/wp-content/uploads/2024/09/Bitcoin-1-2.jpg?w=460&resize=460%2C455\" alt=\"Bitcoin 1\" />\u003Cp>The analyst expects Bitcoin’s price to stay within the range of $54,000 and $54,500. However, if the cryptocurrency fails to hold this \u003Ca href=\"https://www.newsbtc.com/analysis/btc/bitcoin-price-slips-63500/\">crucial support level\u003C/a>, its price could witness a significant correction, potentially pushing it \u003Ca href=\"https://bitcoinist.com/has-bitcoin-bottomed-out-what-trader-sentiment/\">down to new lows\u003C/a> around $50,000. \u003C/p>\u003Cp>Interestingly, the analyst observed a recurring pattern in Bitcoin’s price action in the last few months. He noticed that \u003Ca href=\"https://www.newsbtc.com/analysis/btc/bitcoin-price-dips-65500/\">Bitcoin has declined \u003C/a>significantly during the first five days of each month. The cryptocurrency dropped in the first week of July and August and is witnessing the same \u003Ca href=\"https://bitcoinist.com/bitcoin-hashrate-btc-price-continues-bearish-action/\" target=\"_blank\">bearish performance\u003C/a> in September. \u003C/p>\u003Cp>Earlier this month, \u003Ca href=\"https://bitcoinist.com/bitcoin-price-keeps-falling-under-60k-here-is-why/\">Bitcoin’s price fell below $60,000\u003C/a>, after witnessing strong price declines that dropped its value by over 4%. CoinMarketCap reveals that Bitcoin has increased slightly by 1.2% in the last 24 hours, however bearish sentiment still persists among various market analysts.\u003C/p>\u003Cp>Crypto expert, Ali Martinez \u003Ca href=\"https://x.com/ali_charts/status/1831231909898449130?s=46\">disclosed\u003C/a> recently that \u003Ca href=\"https://www.newsbtc.com/news/bitcoin-price-crash-not-bad/\">Bitcoin could drop\u003C/a> as low as $40,600 if it fails to maintain a price above the $51,000 support level. Martinez emphasized that Bitcoin’s 2-month chart is showing a TD Sequential indicator that is presenting a sell signal. This suggests that the cryptocurrency may be gearing up for a \u003Ca href=\"https://www.newsbtc.com/bitcoin-news/bitcoins-correction-is-not-done-54k-could-be-on-the-horizon-says-top-analyst/\">major price correction\u003C/a>. \u003C/p>\u003Cimg src=\"https://www.newsbtc.com/wp-content/uploads/2024/09/Bitcoin-2-2.jpg?w=460&resize=460%2C282\" alt=\"Bitcoin 2\" />\u003Cp>Additionally, the analyst has \u003Ca href=\"https://x.com/ali_charts/status/1831278280802267476?s=46\">urged\u003C/a> traders to keep an eye on a \u003Ca href=\"https://www.newsbtc.com/bitcoin-news/bitcoin-breakout-blueprint-analyst-reveals-roadmap-for-imminent-surge/\">potential price breakout\u003C/a> around $68,000. He revealed that until Bitcoin surpassed this key level, its price may continue dipping. \u003C/p>Could A Bull Run Follow BTC’s Descent Towards $50,000?\u003Cp>Due to Bitcoin’s persistent price corrections, many analysts believe that the cryptocurrency \u003Ca href=\"https://bitcoinist.com/bitcoin-price-alert-20-crash-post-rate-cut-decision/\">may decline even further\u003C/a> before witnessing a price rebound. Michael van de Poppe, a popular crypto analyst, has shared his \u003Ca href=\"https://bitcoinist.com/bitcoin-september-scenarios/\">price forecast for Bitcoin this September\u003C/a>. \u003C/p>\u003Cp>Poppe \u003Ca href=\"https://x.com/cryptomichnl/status/1831346490201305279?s=46\">revealed\u003C/a> that the Bitcoin market is currently in a steep correction phase, characterized by \u003Ca href=\"https://www.newsbtc.com/bitcoin-news/crypto-liquidations-1-billion-bitcoin-crashes-52000/\">widespread liquidation\u003C/a>s that have failed to trigger a bounce upwards. In light of this, the analyst believes that a drop to $53,000 or even as low as $49,000 could occur for Bitcoin. \u003C/p>\u003Cp>After this downtrend, Poppe believes that a price reversal may be imminent. This bullish sentiment is shared by a crypto analyst, identified as ‘Titan of Crypto,’ who \u003Ca href=\"https://x.com/washigorira/status/1831281004738171167?s=46\">predicts \u003C/a>that October may be the month that Bitcoin finally breaks out of its bearish cycle. \u003C/p>\u003Cp>Sharing a price chart tracking Bitcoin’s previous bear cycles and bull runs, the analyst predicts that \u003Ca href=\"https://bitcoinist.com/is-bitcoin-destined-for-a-2016-style-breakout-chart/\">the cryptocurrency could breakout to $100,000\u003C/a> soon, marking the possible start of a bull run. \u003C/p>\u003Cimg src=\"https://www.tradingview.com/x/ozErYXL6/\" alt=\"Bitcoin price chart from Tradingview.com\" />","https://www.newsbtc.com/news/bitcoin/bitcoin-btc-price-50000/",null,"[\"Bitcoin\",\"analyst\",\"bitcoin\",\"Bitcoin news\",\"bitcoin price\",\"btc\",\"BTC news\",\"btc price\",\"btcusd\",\"BTCUSDT\",\"crypto\",\"crypto analyst\",\"crypto news\"]","[\"Bitcoin\",\"BTC\",\"BTC\",\"X\",\"Sentiment\",\"Market\"]","[{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/BTC.png\",\"name\":\"BTC\"},{\"name\":\"X\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/x.png\"},{\"name\":\"Sentiment\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/sentiment.png\"},{\"name\":\"Market\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/market.png\"}]","73",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/newsbtc.png","NewsBTC","","[\"Crypto\"]","0","EN","1"]